GPF Interest Rate 7.8% for July 2017 to Dec 2017 GO 2087

GPF Interest Rate 7.8% for July 2017 to Dec 2017 GO 2087. Provident Fund-Interest rates on General Provident Fund (Andhra Pradesh) for the subscribers of GPF and other similar funds as 7.8% (Seven point Eight percent) per annum with effect from 01.07.2017 to 31.12.2017 for the year 2017-18 – Orders Issued. G.O.RT.No. 2087 Dated: 31-10-2017. APGLI Fund, AP EWF Fund Interest Rates are kept at 7.8% for the Period.

GPF Interest Rate 7.8% for July 2017 to Dec 2017 GO 2087

Read the following:- 
  • 1. G.O.Rt.No.1171,Finance (HR.5) Department, dated 17.5.2017. 
  • 2. GOI, Resolution No.F.No.5(1)-B(PD)/2017, Ministry of Finance, Department of Economic Affairs (Budget Division), dated 17.07.2017 & 23.10.2017. 
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.
  • 1. In the G.O. 1st read above, the State Government have adopted the interest rate of 7.9% per annum with effect from 1.4.2017 to 30.6.2017, as ordered by the Government of India. 
  • 2. In the reference 2nd read above, the Government of India through resolution No. F.No.5 (1)-B(PD)/2017, dt. 17.7.2017 & 23.10.2017 announced the interest for the subscribers of General Provident Fund (Central Services) at 7.8 % per annum for the period from 01.07.2017 to 31.12.2017 during the year 2017- 18 and will be in force w.e.f. 1st July 2017. 
  • 3. Government after careful examination of the matter, hereby ordered to adopt & revision of the rate of interest as 7.8 % per annum for the period from 01.07.2017 to 31.12.2017 during the year 2017-18 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.

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