GPF Interest from 01.10.2020 to 31.03.2023 Rt.No.138 Dated:20.03.2023

GOVERNMENT OF TELANGANA

ABSTRACT

Provident Fund Interest applicable on GPF and other similar funds from 01.10.2020 to 31.03.2023 -Orders - Issued.

FINANCE (HRM.V) DEPARTMENT

GPF Interest  from 01.10.2020 to 31.03.2023 Rt.No.138 Dated:20.03.2023

 Read the following:-

IFMIS team?

DDS/DTOS.

1. G.O.Rt.No.1312, Finance (HRM.V) Department, dated:05.10.2021. 2. Memorandum No.7(2)/EV/2016, Government of India Ministry of Finance, Department of Expenditure, New Delhi, dated:27.11.2020, 29.06.2021, 22.07.2021, 10.11.2021, 11.02.2022, 10.05.2022, 12.09.2022 & 16.12.2022. F.No.5(4)-B(PD)/2021, Government of India Ministry of Finance, Department of Economic Affairs, dated:03.01.2023.

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 7.1% per annum for the period from 01.07.2020 to 30.09.2020 during the year 2020 - 2021. 5.39 $/2015

3. The Government of India vide their Memorandum have announced that the rate of Interest on accumulations at the credit of subscribers to the GPF and other similar funds shall be @7.1% for the period from 01.10.2020 to 31.03.2023.

4. Government, after careful consideration of the matter, hereby adopt the rate of interest @ 7.1% per annum for the period from 01.10.2020 to 31.03.2023 during the years 2020-2021, 2021-2022 & 2022-2023 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.