TS G.O.Rt.No. 1063 Dated: 02-08-2019 Interest applicable on GPF from 01-07-2019 to 30-09-2019

Provident Fund – Interest applicable on  GPF and other  similar funds from         01-07-2019 to 30-09-2019 -Orders – Issued. FINANCE (HRM.V) DEPARTMENT

TS G.O.Rt.No. 1063  Dated: 02-08-2019 Interest applicable on  GPF from 01-07-2019 to 30-09-2019

Read  the  following:-

1.  G.O.Rt.No.895, Fin (HRM.V) Dept., dated.09.05.2019.

2.  GOI, resolution No.F.No. 5 (2)-B(PD)/2019, Ministry of Finance, Department of Economic Affairs (Budget Division) dt:12/07/2019.

3.  Letter No. F.M-TS/GL.II/2019–20/255, Dated.24.07.2019 of   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  01-04-2019 to 30-06-2019  during the year 2019 -2020.

3. Government of  India vide their resolution dated:12-07-2019 2nd  read above have announced that the rate of  Interest on accumulations at the credit of subscribers to the  GPF and other similar funds shall be 7.9% for the period from 01-07-2019 to 30-09-2019 and in the reference 3rd  read above the 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 @ 7.9% per annum for the period from 01.07.2019 to 30.09.2019  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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