The Finance Ministry has announced the interest rates for the General Provident Fund (GPF) for government employees. The government will pay 7.1 percent interest on deposits in this fund during the July-September quarter.
Along with this, the same interest will be paid on other funds linked to GPF. No change has been made in the interest rates on these funds.
The central government has announced the interest rates for the General Provident Fund (GPF) of its government employees. The interest rates will be applicable from July 1, 2024 to September 30, 2024. Government employees will get interest at the rate of 7.1 percent in this quarter. The Finance Ministry has not made any change in the interest rates for GPF and similar linked funds.
Interest Rates for July-September Quarter
The Department of Economic Affairs of the Finance Ministry has announced the interest rates for the July-September quarter for the General Provident Fund. During this period, government employees will get interest at the rate of 7.1 percent on the amount deposited in this fund. The government has not made any change in the interest rates. The government is giving the same interest on GPF as on PPF.
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GPF and its linked funds will get interest at the rate of 7.1 percent in this quarter. The names of these funds are given below.
- General Provident Fund
- Contributory Provident Fund
- All India Service Provident Fund
- State Railway Provident Fund
- General Provident Fund (Defence Service)
- Indian Ordnance Department Provident Fund
- Indian Ordnance Department Factories Provident Fund
- Indian Navy Dockyard Workers (Provident Fund)
- Defence Service Officers Provident Fund
- Armed Forces Personnel Fund
What is GPF
General Provident Fund (GPF) is a kind of provident fund which is given to government employees. A part of the salary of government employees is deposited in GPF.
The government pays interest on this deposit at a fixed rate. This amount is given to the government employee on retirement. The interest on this fund is decided by the Finance Ministry every quarter.
