Interest-rates-on-General-Provident-Fund-7.1%-wef-july-1st-2020

Interest-rates-on-General-Provident-Fund-7.1%-wef-july-1st-2020

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 01.07.2020 to 30.09.2020 for the year 2020-21

The State Government have adopted the interest rate of 7.1% per annum with effect from 01.04.2020 to 30.06.2020 for the 1st 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 July, 2020 to 30th September, 2020 for the year
2020-21. This rate will be in force w.e.f 1st July, 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
01.07.2020 to 30.09.2020 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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