The Department of Economic Affairs (Budget Division) has issued a resolution on the interest rates for Provident Fund and other related funds of Central Government employees, Railway employees, Ordnance employees and Armed Forces.
The rate of interest on General Provident Fund was at 8% in the April to June 2019-2020. Now the government has decided the interest rate for all savings funds including GPF at 7.9 percent for the quarter of January to March 2020.
Accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.9% with effect from 1 January 2020 to 31 March 2020. The list of funds including General Provident Fund (GPF) are given below:
- The General Provident Fund (Central Services)
- The Contributory Provident Fund (India)
- The All India Services Provident Fund
- The State Railway Provident Fund
- The General Provident Fund (Defence Services)
- The Indian Ordnance Department Provident Fund
- The Indian Ordnance Factories Workmen’s Provident Fund
- The Indian Naval Dockyard Workmen’s Provident Fund
- The Defence Services Officers Provident Fund
- The Armed Forces Personnel Provident Fund