The Office of CGDA has issued a circular regarding the deduction of income tax on the interest earned on GPF subscriptions exceeding Rs. 5 lakhs during the financial year 2021-22.
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GPF
New GPF Advance Rules for Central Services Employees Announced
The Ministry of Personnel, Public Grievances and Pensions (Department of Pension and Pensioners’ Welfare) in New Delhi has released an amendment to the General Provident Fund (Central Services) Rules, 1960.
Ceiling of Rs. 5 Lakh on subscription to GPF in a financial year
Regarding maximum limit of Rs. 5 Lakh on subscription to General Provident Fund (Central Services) under General Provident Fund (Central Services) Rules, 1960 in a financial year
GPF & similar funds interest rate 7.1% from 1st Jan to Mar 2023
General Provident Fund and other similar funds shall Carry ‘interest at the rate of 7.1% (Seven point one percent) w.e.f. 1st January, 2023 to 31st March, 2023
DOP&PW – Ceiling of Rs. 5 Lakh on subscription to GPF (Central Services) in a financial year
Instruction regarding dated 11.10.2022 for strict implementation of the above amended provisions of the General Provident Fund (Central Services), Rules, 1960.
DOP&PW – Ceiling of Rs. 5 Lakh on subscription to GPF in a financial year
The sum of the monthly subscription by a subscriber under the GPF during a financial years together with the amount of arrear subscriptions deposited in that financial year shall not exceed the threshold limit (at present Rupees Five Lakh)
GPF and other similar funds interest at the rate of 7.1% w.e.f. 1st Oct 2022 to 31st Dec 2022
General Provident Fund and other similar funds shall carry interest at the rate of 7.1% (Seven point one percent) w.e.f. 1st October, 2022 to 31st December, 2022.