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AP G.O.Rt.No.96 Dated:24.01.2018 Interest Rate on GPF as 7.6 % effect from 01.01.18 to 31.03.18

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GOVERNMENT  OF  ANDHRA  PRADESH ABSTRACT

Provident  Fund-Interest  rates  on  General  Provident Fund  (AndhraPradesh) for the  subscribers  of GPF and other similar funds as 7.6%(Seven  point six percent)  per annum  with  effect  from  01.01.2018 to31.3.2018 for the year 2017-18 – Orders  - Issued. --------------------------------------------------------------- FINANCE (HR-5-Pension, GPF)  Department

AP G.O.Rt.No.96 Dated:24.01.2018 Interest Rate on GPF as 7.6 % effect from 01.01.18 to 31.03.18

Read the  following:

1.  G.O.Rt.No.2087,Finance(HR.5)Departmentdt.31.10.2017

2.GOI,  Resolution  No.F.No.5(1)-B(PD)/2017,  Ministry  of  Finance, Department  of  Economic  Affairs  (Budget  Division),  Dated  1.01.2018.

**** ORDER:

        According  to  Rule  13(1)  of  General Provident Fund  (AndhraPradesh) 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  India for  payment of interest on  subscription  to  the  General provident Fund inrespect of  Central Services.

2.  In  the G.O.1stread above, the State Government have  adopted  the interest  rate  of  7.9%  per  annum with  effect  from 1.4.2017 to  30.6.2017,  as ordered by the  Government of  India.

3.  In  the reference 2nd  read  above,  the Government  of  India through resolution  No.  F.No.5  (1)-B(PD)/2017,  dated.  1.01.2018  announced  the interest for  the  subscribers of  General  Provident Fund (Central Services) at 7.6  %  per  annum for  the  period  from  01.01.2018  to  31.03.2018  during  the year 2017-18.

4.  Government after  careful examination of  the  matter,  hereby  order to Adopt &  revision  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.

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