There is great news for the employees. After fixing the interest rate of EPFO, now the amount of interest rate on GPF has been fixed. An order has been issued for this. Under the order issued by the Finance Minister on April 10, these rules will be effective from April 1 to June 30.
Employees Benefit, GPF Interest Rate: There is big news for the contributors including employees. In fact, once again the amount of interest has been announced on the deposits of other funds including their General Provident Fund. Orders have also been issued for this. From 1 April to 30 June 2023, the amount of interest rate on GPF has been announced.
It is announced for information that during the year 2023-2024, interest on deposits of subscribers to General Provident Fund and other similar funds will attract interest at the rate of 7.1% from April 1, 2023 to June 30, 2023 . This will be effective from April 1, 2023. Earlier, from January 1 to March 31, the amount of interest on GPF was fixed at 7.1 percent only.
Related funds are:
- General Provident Fund (Central Services).
- Contributory Provident Fund (India).
- All India Services Provident Fund.
- State Railway Provident Fund.
- General Provident Fund (Defence Services).
- Indian Ordnance Department Provident Fund.
- Indian Ordnance Factory Workers’ Provident Fund.
- Indian Naval Dockyard Workmen’s Provident Fund. ,
- Defense Services Officers Provident Fund.
- Armed Forces Personnel Provident Fund.
- EPFO interest rate can be 8.15
Let us inform that earlier an important announcement was also made regarding EPFO. In which it was said that the interest rate of EPFO for 2022-23 could be 8.15. It was increased at the rate of 0.05 percent. With the EPFO increasing the interest rate to 8.15, it will be sent to the Finance Department. From where the press release will be done as soon as the proposal is approved. Currently, the interest rate of EPFO is 8.10 percent. In which an increase of 0.05 percent can be seen.
