GO 1638 PF Interest Rate for Financial Year 2016-17 is 8.1 Percent

GO 1638 GPF Interest Rate for Financial Year 2016-17 is 8.1 Percent. Provident Fund-General Provident Fund (Andhra Pradesh)-Rate of interest for the financial year 2016-17 commencing on 01.04.2016 as 8.1% (Eight point one per cent) per annum with effect from 01.04.2016 to 30.06.2016-Issued. G.O.RT.No. 1638 Dated: 27-06-2016
Read the following:-
  • 1. G.O.Rt.No.2142, Finance(Pen.II)Department dated 30.04.2013
  • 2. GOI, Resolution No. F.No.5(1)-B(PD)/2016, Ministry of Finance, Department of Economic Affairs(Budget Division) Dt: 02.06.2016
  • 3. Lr.No.FM/Gl.II/9-3/2016-17/330 of O/o the Accountnat General (A&E), Andhra Pradesh, Hyderabad, Dt: 08.06.2016.

GO 1638 PF Interest Rate for Financial Year 2016-17 is 8.1 Percent

ORDER:
  • According to Rule 13(1) of General Provident Fund (Andhra Pradesh) Rules 1935, Government shall pay to the credit of the account of a subscriber interest at such rate as may be determined for each year according to the method of calculation prescribed from time to time by the Government of India for payment of interest on subscription to the General provident Fund in respect of Central Services. 
  • 2. In the G.O.1st read above, the State Government have adopted the interest rate of 8.7% per annum ordered by the Government of India with effect from 01.04.2013 until further orders.
  • 3. In the reference 2nd read above, the Government of India through its resolution No. F.No.5(1)- B(PD)/2016, Dt: 08.04.2013 revised the rates of interest for the subscribers of General Provident Fund(Central Services) for the year 2016-17 as follows: 

8.1% with effect from 01.04.2016 to 30.06.2016. 

  • 4. The Deputy Accountant General(Funds), in his letter 3rd read above has requested to issue necessary Government Orders duly revising the rates of interest on GPF and other similar funds etc., maintained in the State for the year 2016-17. 
  • 5. Government after careful examination of the matter, hereby adopt the rate of interest as 8.1% per annum w.e.f 01.04.2016 to 30.06.2016 on the following Provident Funds and other similar funds maintained by the Government of Andhra Pradesh on par with rates of Government of India. 
  • 1. The General Provident Fund(Andhra Pradesh) Rules 1935 
  • 2. The Electricity Department Provident Fund Rules.
  • 3. Emergency Cut and Compulsory Saving Rules, 1949. 
  • 4. Government Distilleries Employees Provident Fund 
  • 5. Andhra Pradesh Government Life Insurance Fund 
  • 6. Andhra Pradesh Employees Welfare Fund Rules.
Download GO 1638 PF Interest Rate for Financial Year 2016-17 is 8.1 Percent

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