TS G.O.Rt.No. 44 Dated: 04-02-2019 Interest applicable on GPF and other similar funds from 01-01-2019 to 31-03-2019

GOVERNMENT OF TELANGANA ABSTRACT

Provident Fund – Interest applicable on  GPF and other  similar funds from         01-01-2019 to 31-03-2019 -Orders – Issued.

FINANCE (HRM.V) DEPARTMENT

TS G.O.Rt.No. 44  Dated: 04-02-2019 Interest applicable on  GPF and other  similar funds from  01-01-2019 to 31-03-2019

Read  the  following:-

1.  G.O.Ms.No.171, Fin (HRM.V) Dept., dated.18.12.2018.

2.  GOI, resolution No.F.No. 5 (1)-B(PD)/2018, Ministry of Finance, Department of Economic Affairs (Budget Division) dt:03/01/2019.

3.  Letter No. F.M-TS/GL.II/2018–19/592,  Dated.23.01.2019 of Sr. Dy.AG (A&E), Telangana, Hyderabad.

-o0o- ORDER:

According to Rule  13(1) of General Provident Fund (Telangana State) Rules, 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 time to time by the  Government of India for payment of interest on subscription  to the General Provident Fund in respect of Central Services.

2. In  the G.O 1st  read  above, the State  Government have  adopted the interest rate of 8%  per annum as ordered by the Government of India for the period from 01.10.2018 to 31.12.2018 during the year 2018 -2019.

3. In  the  reference 2nd  read above, GOI  through their resolution  dated: 2301-2019

     have announced that the rate  of Interest as accumulations at the credit of subscribers to the GPF and other similar funds shall be 8% for the period from 01-01-2019 to 31-03-2019  and in the reference  3rd  read above the Sr.Dy.AG (A&E) has requested the government to issue  a suo moto order revising the rate of Interest accordingly.

4. Government, after careful consideration of the matter, hereby adopt the rate of interest @ 8%  per annum for the period from 01.01.2019 to 31.03.2019   during the year 2019 – 20 on  the following Provident Funds on par with  the rates of Government of India.

1)  The General Provident Fund (Telangana  State) Rules, 1935.

2)  The Electricity Department Provident Fund Rules.

3)  Emergency Cut and Compulsory Saving Rules, 1949.

4)  Government Distilleries Employees Provident Fund.

5)  Telangana State Government Life Insurance Fund.

6)  Telangana State employees Welfare Fund Rules.

5. The G.O is available on Internet and can be accessed at  the address

http://www.telangana.gov.in/goir .

(BY ORDER AND IN THE NAME  OF THE GOVERNOR OF TELANGANA)    

                   K.RAMAKRISHNA  RAO                                           PRINCIPAL SECRETARY TO GOVERNMENT 

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