ZPPF/GPF Interest rate at 7.1% from 1.10.2020 to 31.12.2020 Interest rates on General Provident Fund

Provident Fund - Interest rates on General Provident Fund (Andhra Pradesh) for the subscribers of GPF and other similar funds at the rate of 7.1% (Seven point One percent) per annum with effect from 01.10.2020 to 31.12.2020 for the year 2020-21 – Orders - Issued. ZPPF/GPF Interest rate at 7.1% from 1.10.2020 to 31.12.2020AP Interest rates on General Provident Fund G.O.RT.No. 3060 Dated: 29-12-2020

ZPPF/GPF  Interest rate at 7.1% from 1.10.2020 to 31.12.2020  Interest rates on General Provident Fund

  • 1. G.O.Rt.No.2403, Finance (HR.III - Pension) Department, Dt.22.09.2020.
  • 2. GOI, Resolution F. No. 5(2)-B(PD)/2020, Government of India, Ministry of Finance, Department of Economic Affairs (Budget Division), Dt.27.10.2020
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 7.1% per annum with effect from 01.07.2020 to 30.09.2020 for the 2nd quarter of the year 2020-21 on the following Provident Funds and other similar funds maintained by the Government Andhra Pradesh on par with rates of Government of India.
  • a. The General Provident Fund (Andhra Pradesh) Rules1935 b. The Electricity Department Provident Fund Rules.
  • c. Emergency Cut and Compulsory Saving Rules, 1949. d. Government Distilleries Employees Provident Fund
  • e. Andhra Pradesh Government Life Insurance Fund. f. Andhra Pradesh Employees Welfare Fund Rules.
3. In the reference 2nd read above, the Government of India announced the General Provident Fund and other similar funds shall carry interest rate at 7.1% (Seven point one percent) w.e.f. 1st October, 2020 to 31st December, 2020. This rate will be in force w.e.f 1st October, 2020.

4. Government after careful examination of the matter hereby ordered to carry the rate of interest at 7.1% (Seven point One percent) per annum for the period from 01.10.2020 to 31.12.2020 during the year 2020-21 on the following Provident Funds and other similar funds maintained by the Government of Andhra Pradesh on par with rates of Government of India.
  • a. The General Provident Fund (Andhra Pradesh) Rules1935 b. The Electricity Department Provident Fund Rules.
  • c. Emergency Cut and Compulsory Saving Rules, 1949.
  • d. Government Distilleries Employees Provident Fund e. Andhra Pradesh Government Life Insurance Fund. f. Andhra Pradesh Employees Welfare Fund Rules.

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