7.1% Provident Fund Interest Rate w.e.f July-2022 to Sep-2022
GPF Interest Rate 7.1%(Seven Point One Percent) from July-2022 to September-2022 has been declared by state government of AP. For this Finance Department of AP has issued Go.247 Dt:20/09/2022.
GPF/ZPPF and other similar funds interest rates 7.1% w.e.f July-2022 to September-2022 as per GO.247 Dt:20/09/2022 of AP Finance Department
According to Rule 13(1) of General Provident Fund (AP GPF) Rules 1935. AP 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 or calculation prescribed from time to time .The Government of India for payment or interest on subscription to the General provident Fund in respect of Central Services.
The State Government of AP have adopted the interest rate of 7.1% per annum with effect from 01.04.2022 to 30.06.2022 on the following Provident Funds and other similar funds maintained by the Government of Andhra Pradesh on par with rates of Government of lndia.
- The General Provident Fund (Andhra Pradesh) Rules 1935
- The Electricity Department Provident Fund Rules.
- Emergency Cut and Compulsory Saving Rules. 1949.
- Government Distilleries Employees Provident Fund
- Andhra Pradesh Govt Life Insurance Fund.
- Andhra Pradesh Employees Welfare Fund Rules.
The Government of India announced the General Provident Fund and other similar funds shall carry interest at the rate of 7.1% (Seven point one percent) w.e.f. 1st July. 2022 lo 30th September. 2022. This rate will be in force w.e.f lst July. 2022.
AP Government after careful examination of the matter hereby order to adopt the rate of interest at 7.1% (Seven point One percent) per annum for the period from Ist July, 2022 to 30th September-2022 during the F.Y.2022-23 on the following Provident Funds and other similar funds maintained by the Government of Andhra Pradesh on par with rates of Government of India. This rate will be in force w.e.f 1s1 July. 2022.