Tuesday, May 22, 2018

Interest rates on GPF for the subscribers of GPF and other similar funds as 7.6% per annum Orders,GO.1204

Provident Fund - Interest rates on General Provident Fund (Andhra Pradesh) for the subscribers of GPF and other similar funds as 7.6% (Seven point six percent) per annum with effect from 01.04.2018 to 30.06.2018 for the year 2018-19 – Orders - Issued. 

FINANCE (HR-5-Pension, GPF) Department
G.O.Rt.No.1204 Dated: 22.05.2018
Read the following:
1. G.O.Rt.No.96, Finance (HR.5) Department, dt. 24.01.2018
2. GOI, Resolution F. No. 5(1)-B (PD)/2018, Ministry of Finance,
Department of Economic Affairs (Budget Division), Dated 11.04.2018.


Interest rates on GPF for the subscribers of GPF and other similar funds as 7.6% per annum Orders,GO.1204

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. first read above, orders were issued adopting the rate of interest as 7.6 % per
annum for the period from 01.01.2018 to 31.03.2018 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) Rules1935
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.
3. In the reference second cited Government of India ordered continuation of rate of interest at
7.6% from 01.04.2018 onwards on these Provident Funds.
4. Government after careful examination of the matter, hereby order continuation of 7.6% of
interest on the following Provident Funds and other similar funds maintained by the Government of
Andhra Pradesh on par with rates of Government of India which shall continue for the period from
01.04.2018 onwards during the year 2018-19 till further orders.
1.  The General Provident Fund (Andhra Pradesh) Rules1935
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.
 5. The G.O. is available online and can be accessed at the addresshttp://www.goir.ap.gov.in

Download GO.1204 COPY

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