The GPF interest rate for central employees has been fixed at 7.1% in the July-September 2025 quarter. According to the notification issued by the Department of Economic Affairs (DEA), this rate will be applicable from July 1 to September 30, 2025. Let us tell you that the Finance Ministry reviews the GPF interest rate every quarter. There was no change in the interest rate during the last quarter as well.

Interest rate is also applicable on these funds

This interest rate is also applicable for General Provident Fund (Central Services), Contributory Provident Fund (India), All India Services Provident Fund, State Railway Provident Fund, General Provident Fund (Defence Services), Indian Ordnance Department Provident Fund, Indian Ordnance Factories Workmen’s Provident Fund, Indian Naval Dockyard Workmen’s Provident Fund, Defence Services Officers Provident Fund, Armed Forces Personnel Provident Fund. These funds are maintained by various government departments and are available to government employees. Government employees regularly deposit a part of their salary in these schemes.

Interest rate same as PPF

Although the GPF interest rate is the same as the Public Provident Fund (PPF) rate of 7.1%, there are some key differences. PPF is for all Indian citizens, including the self-employed. It also has a lock-in period of 15 years. In contrast, GPF is only for government employees and allows full withdrawal on retirement.

EPF is different from these two

Apart from this, Employee Provident Fund (EPF) is also a scheme run by the Employees’ Provident Fund Organization (EPFO). It is mainly for salaried employees of the private sector. Its interest rate is reviewed by the EPFO ​​on an annual basis. Currently, the interest rate is 8.25 percent.

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The post GPF interest rate for central employees has been fixed at 7.1% in the July-September 2025 quarter first appeared on Rightsofemployees.com.

The Finance Ministry issued a circular on July 2, 2025, saying, “During the year 2025-26, interest will be paid at the rate of 7.1 per cent on deposits in the General Provident Fund and other similar funds. This rate will be effective from July 1, 2025.”

On which funds is this interest applicable?

The following Provident Fund schemes will come under this interest rate-

• General Provident Fund (Central Services)
• Contributory Provident Fund (India)
• All India Services Provident Fund
• State Railway Provident Fund
• General Provident Fund (Defense Services)
• Indian Ordnance Department Provident Fund

The post Finance Ministry announced the interest rate for GPF July to September quarter; check details first appeared on Rightsofemployees.com.

The government will pay 7.1 percent interest on GPA from July 1 to September 30, 2025. The 7.1 percent interest on GPF is being given the same as PPF. Currently, 7.1 percent interest is being given on PPF. This new interest rate will also be applicable on GPF, Contributory Provident Fund, All India Service Provident Fund and other provident funds.

How much interest will you get on GPF?

According to the Department of Economic Affairs (DEA) of the Finance Ministry, the government will pay 7.1 percent interest on General Provident Fund and similar provident funds from July 1 to September 30, 2025. The government has not made any change in the interest rates.

How much interest is received on GPF and PPF?

GPF is getting the same interest rate as PPF. GPF rates are the same as Public Provident Fund (PPF) rates. All the funds mentioned below will also get interest at the rate of 7.1 percent.

These are other provident funds like GPF – 7.1 percent interest will be available on all these funds.

1. General Provident Fund (Central Services).

2. Contributory Provident Fund (India).

3. All India Service Provident Fund

4. State Railway Provident Fund

5. General Provident Fund (Defence Service)

6. Indian Ordnance Department Provident Fund

7. Indian Ordnance Department Factories Provident Fund

8. Indian Naval Dockyard Workers (Provident Fund).

9. Defence Services Officers Provident Fund.

10. Armed Forces Personnel Provident Fund.

What is General Provident Fund i.e. GPF?

General Provident Fund (GPF) is a type of provident fund which is given only to the central government employees of India. Everyone in the government can deposit a part of their salary in the General Provident Fund. When the employee retires, he gets the money and interest deposited during his period. The Finance Ministry reviews the GPF interest rate every quarter. It announces the interest rate every quarter.

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The post GPF Interest Fixed: Government has fixed the interest on General Provident Fund, this much interest will be given first appeared on Rightsofemployees.com.

This means that in this scheme, a part of the subscriber’s contribution is invested in shares. Therefore, the return of this scheme depends on the performance of the shares. Let us know about both the schemes in detail.

Major change in retirement scheme in 2004

The central government made a big change in the retirement scheme of its employees in 2004. Actually, NPS was implemented for government employees from January 1, 2004. This means that people who started working in the central government on or after January 1, 2004 come under NPS. People who started working in the central government on or after December 31, 2003 came under GPF. The option of GPF ended for people who started working in the central government on or after January 1, 2004.

Investment options based on your risk taking ability

Investment options are available in NPS according to the investors’ risk-taking capacity. Investors who can take more risk can select Active Choice Fund. In this, the investor can allocate 75 percent in equity i.e. shares till the age of 50 years. After that the allocation in shares decreases to 50 percent. In the Auto Choice option, more allocation in shares is allowed till the age of 35 years. After that it starts decreasing.

Is it allowed to invest in NPS and GPF simultaneously?

There was no option of investing in GPF like in NPS. If an employee has started a government job before January 1, 2004, then he will come under the purview of GPF. In such a situation, if he wants, he can invest in NPS himself. For this, he will have to make the contribution to the scheme himself. The government will not contribute to his NPS account. If any person who started a central government job on or after January 1, 2004 wants to invest in GPF along with NPS, then he will not be allowed to do so. This means that only those who started the job before January 1, 2004 have the option to invest in GPS and NPS simultaneously.

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The Department of Pension and Pensioners Welfare (DoPPW) issued new instructions on October 25, 2024, due to frequent inquiries regarding interest payment on delayed GPF disbursement after retirement. These instructions emphasize the need for timely handling at every stage from preparation of retirement list to issuance of Pension Payment Order (PPO).

The notice also gives details of payment of interest on delayed GPF final payments for retired government employees. It also mentions the duties of the concerned officials and the consequences of delay in disbursement. The important points of the Central Government’s clarification on GPF disbursement to retired employees are as follows…

1. Timely payment: Rule 34 of the General Provident Fund (Central Services) Rules, 1960 mandates that the accounts officer should ensure that the GPF amount is paid promptly on the retirement of the subscriber.

2. Unconditional disbursement: The GPF balance is the property of the retired government employee and its disbursement is unaffected by any pending disciplinary proceedings.

3. Interest on delayed payments: Rule 11(4) states that if the GPF balance is not paid at the time of retirement, interest should be charged for the period beyond the retirement date.

4. Interest Payment Approval Process: The Pay and Accounts Office (PAO) can approve interest for a delay of up to 6 months after retirement. In case of delay beyond six months, approval from the Head of the Accounts Office is required for interest payment. In case of delay beyond one year, authorization from the Controller of Accounts/Financial Advisor is required for interest payment.

5. Extension of Delay: Cases involving interest payment will be referred to the Secretary of the concerned administrative Ministry or Department to prevent additional financial burden due to delay in GPF payment.

The Secretary will assign responsibility at each stage of the GPF payment process to prevent delays, avoid unnecessary interest payments and ensure timely disbursement.

What is GPF

GPF is a kind of Provident Fund account but only government employees can benefit from it. Government employees have to deposit a certain part of their salary in GPF. Contribution to GPF is mandatory for a certain category of government employees. The total amount prepared from the contribution made by the employees to GPF during the employment term is paid to the employee at the time of retirement. The government does not contribute to GPF, only the employee contributes. The Finance Ministry changes the interest rate of GPF every quarter.

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The post Centre issues key clarification on PF settlement for retired govt employees first appeared on Rightsofemployees.com.

There is big news for government employees. The Finance Ministry has announced the interest rates for General Provident Fund (GPF) and other provident funds. From October 1, 2024 to December 31, 2024, GPF and other similar funds will get interest at the rate of 7.1 percent. For the October-December 2024 quarter, the government has not changed the interest rates on GPF and similar linked funds.

Government fixed GPF rates for October-December 2024

This has been announced according to the Department of Economic Affairs (DEA) of the Ministry of Finance on 3 October 2024. General Provident Fund deposits and similar funds will get interest at the rate of 7.1 percent in the October to December quarter. The government has not made any change in the interest rates.

Interest on GPF is same as that on PPF

GPF is getting the same interest rate as PPF. GPF rates are same as Public Provident Fund (PPF) rates. All the funds mentioned below will also get interest at the rate of 7.1 percent.

These are also other provident funds like GPF

1. General Provident Fund (Central Services).

2. Contributory Provident Fund (India).

3. All India Service Provident Fund

4. State Railway Provident Fund

5. General Provident Fund (Defence Service)

6. Indian Ordnance Department Provident Fund

7. Indian Ordnance Department Factories Provident Fund

8. Indian Naval Dockyard Workers (Provident Fund).

9. Defence Services Officers Provident Fund.

10. Armed Forces Personnel Provident Fund.

What is General Provident Fund (GPF)?

General Provident Fund is a type of Provident Fund which is given only to the Central Government employees of India. Everyone in the government can deposit a part of their salary in the General Provident Fund. When the employee retires, he gets the money and interest accumulated during his period. The Finance Ministry reviews the GPF interest rate every quarter.

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The post GPF Interest Rate: Govt has fixed the rates of GPF, this much interest will be given in October-December first appeared on Rightsofemployees.com.

Crores of employed people in the country are associated with some kind of provident fund account. These schemes related to provident fund work to secure the life of a person after retirement at the financial level. However, employees have to invest regularly in these schemes. After retirement, these schemes ensure financial security of the employee’s life. Often many people are confused about the difference between EPF, PPF and GPF. If you do not know about the difference in them, then today we are going to tell you about this. Let’s know –

Employee Provident Fund – EPF

Employee Provident Fund Scheme is being operated for people working in the private sector. This scheme is being operated by the Employees Provident Fund Organization.

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In this, the employee working in the private sector has to invest 12 percent of his salary every month i.e. basic salary and dearness allowance. Apart from this, the employer also has to deposit the same amount in the account. After retirement, the money deposited in EPF helps to secure the future of the employee.

Public Provident Fund – PPF

Public Provident Fund is a very popular scheme in the country. Any Indian citizen can start investing by opening an account in the PPF scheme. The maturity period of the PPF scheme is 15 years. At present, you are getting an interest rate of 7.1 percent on investing in this scheme.

General Provident Fund – GPF

GPF i.e. General Provident Fund Scheme is being operated for central employees. The interest rate received under the General Provident Fund Scheme is ensured on a quarterly basis. In this, the account holder has to deposit at least 6 percent of his salary in the GPF account on a monthly basis.

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The post What is the difference between EPF, PPF and GPF account? first appeared on Rightsofemployees.com.

There is good news for government employees. The Finance Ministry has announced the interest rates for General Provident Fund (GPF) and other provident funds. From April 1, 2024 to June 30, 2024, GPF and other similar funds will get interest at the rate of 7.1 percent. Earlier, for the January-March 2024 quarter also, the government has not changed the interest rates on GPF and similar linked funds.

The government has fixed the rates of GPF

On June 10, 2024, according to the Department of Economic Affairs (DEA) of the Ministry of Finance, it has been announced that during the year 2024-2025, the money deposited by the subscribers for the General Provident Fund and similar funds will get interest at the rate of 7.1 percent from April 1, 2024 to June 30, 2024. The government has maintained the interest rates this time as well as last time. GPF is getting the same interest as PPF. The rate of GPF runs like the rates of Public Provident Fund (PPF). All the funds mentioned below will also get interest at the rate of 7.1 percent.

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These are also provident funds

1. General Provident Fund (Central Services).

2. Contributory Provident Fund (India).

3. All India Service Provident Fund

4. State Railway Provident Fund

5. General Provident Fund (Defence Service)

6. Indian Ordnance Department Provident Fund

7. Indian Ordnance Department Factories Provident Fund

8. Indian Naval Dockyard Workers (Provident Fund).

9. Defence Services Officers Provident Fund.

10. Armed Forces Personnel Provident Fund.

What is General Provident Fund (GPF)?

General Provident Fund is a type of provident fund which is given only to Indian government employees. Everyone in the government can deposit a part of their salary in the General Provident Fund. When the employee retires, he gets the money and interest deposited during his period. The Finance Ministry reviews the GPF interest rate every quarter.

The post GPF Interest Rate Update: Finance Ministry has announced the interest rates for GPF and other provident funds first appeared on Rightsofemployees.com.

Government employees employed before 2004 can invest in GPF i.e. General Provident Fund. It is a savings scheme supported by the central government. If you also invest in this scheme then this news is for you.

Actually, the Central Government has recently changed some rules regarding withdrawal of money related to this scheme, which is important for you to know. Department of Pension and Pensioners Welfare (DoPPW) has recently released the list of GPF withdrawal rules about which we are going to tell you today.

Let us tell you that a customer investing in GPF can withdraw money from the GPF fund for purposes like illness, marriage, education, building a house, buying a car etc. This article has been divided into three groups of reasons so that you can understand it better.

First group of reasons

According to DoPPW, you can withdraw GPF money for the following reasons:

• Education- This includes primary, secondary and higher education which will be applicable to all streams and institutes.
• Mandatory expenses i.e. engagements, weddings, funerals, or other ceremonies of self or family members and dependents.
• Illness of self, family members or dependents
• purchase of consumer durables

For these reasons, as per the rules – GPF subscribers can withdraw twelve months salary or three-fourth of the deposited amount, whichever is less. According to DoPPW, withdrawal of up to 90 per cent of the amount standing to the customer’s account for illness may be allowed. A GPF subscriber can seek withdrawal after completion of ten years of service.

Second group of reasons

You can withdraw money from GPF for the following reasons:

• Purchase of motor car/motorcycle/scooter etc. or repayment of loan already taken for this purpose,
• Comprehensive repair/overhauling of motor cars
• Deposit to book motor car/motorcycle/scooter, moped etc.

For these reasons, as per the rules, a customer may be allowed to withdraw the amount deposited on credit or three-fourth of the cost of the vehicle, whichever is less, for the above purposes. Withdrawal for the above purpose will be allowed only after completion of 10 years of service.

Apart from this, government employees who are to be given superannuation on superannuation two years before retirement are allowed to withdraw up to 90 per cent of the remaining amount without assigning any reason.

Third group of reasons

Construction or acquisition of a suitable house or ready-made flat for residence of the GPF subscriber

• Repayment of outstanding home loan
• Purchasing a home site to build a home
• building a house on acquired land
• Remodeling or making changes to an already purchased home
• Renovation, or alteration of ancestral home

For these reasons, as per the rules, a GPF subscriber may be allowed to withdraw up to 90 per cent of the amount on credit for the above purposes.

According to the current rules, after the sale of the house for which GPF withdrawal has been availed, the amount withdrawn will have to be deposited back.

But now as per the new rules, GPF withdrawal for housing purposes will no longer be linked to the limit prescribed under HBA rules. A customer may be allowed to avail the facility at any time during his service.

What is the eligibility?

• People who are temporary government employees are eligible after 1 year of continuous service.
• Those people who are permanent government employees are eligible.
• People who have been re-employed as retired government pensioners.
• Such government employees who work in establishments covered under the EPF Act, 1952.

The post GPF Withdrawal Rules: Government implemented new rules for withdrawing money from GPF, what is the eligibility first appeared on Rightsofemployees.com.

The Center has implemented CPF interest rates on General Provident Fund (GPF) without change for the April-June 2023 quarter. The Finance Ministry has announced no increase in interest rates for General Provident Fund (GPF) investors from April 1, 2023, despite a significant increase in the interest rates of select small savings schemes.

Investors who have been expecting interest rates to rise for a long time have been shocked. Let us tell you that the interest rates on GPF have not been increased since the last 13 quarters and now for the 14th time also the government has decided to keep the interest rates unchanged.

The Finance Ministry has announced the interest rate for General Provident Fund (GPF) and Mixed Fund Schemes. The ministry has kept the interest rate for GPF and similar funds unchanged for the April-June quarter of 2023. In a circular issued on April 10, 2023, the Ministry of Finance said that it is announced that during the year 2023-2024, deposits of customers in the General Provident Fund and other similar funds will be taxed at the rate of 7.1 percent from April 1, 2023 to June 30, 2023. Interest will be charged.

Interest rates on GPF and mutual fund schemes for the June quarter

The funds that will fetch an interest rate of 7.1 per cent for the April-June quarter of 2023 are-

• General Provident Fund (GPF) General Provident Fund for Central Service.
• General Provident Fund (GPF) General Provident Fund for Defense Services
• Contributory Provident Fund (CPF) Contributory Provident Fund.
• All India Services Provident Fund (AISPF) All India Services Provident Fund.
• State Railway Provident Fund (SRPF) State Railway Provident Fund.
• Indian Ordnance Department Provident Fund (AFPPF) Armed Forces Personnel Provident.

What is General PF and who gets it?

General Provident Fund (GPF) is given only to government employees in India. Under GPF, all government employees are allowed to contribute a certain percentage of their salary to the General Provident Fund. Hence, the total amount accumulated during the employment period is paid to the employees at the time of retirement. The Finance Ministry revises the interest rate on GPF every quarter.

The post GPF Interest Rate: Shock to central employees on GPF, Center did not increase interest rates, see interest rate for June quarter first appeared on Rightsofemployees.com.

The state government has announced a 2.73 per cent hike in Dearness Allowance (DA), which will be implemented from July 1, 2021. After the amendment, the DA of the employees has increased from 17.29 percent to 20.02 percent.

The arrears of payment of dearness allowance for the period from July 1, 2021 to December 31, 2022 will be credited to the General Provident Fund (GPF) account of the employees. However, the arrears of dearness allowance will be paid to the employees retiring on May 31, 2023. He is exempted from making any contribution to General Provident Fund during the last four months of service.

Lakhs of employees will be benefited

Payment of revised dearness relief for pensioners will be payable in February, 2023 along with pension of January, 2023. According to the orders issued on Monday, the dearness relief arrears from July 1, 2021 to December 31, 2022 will be paid in eight equal monthly installments starting from February, 2023 and payable in March, 2023.

Finance Minister T Harish Rao said that the state government’s decision to increase DA will benefit 4.40 lakh government employees and 2.88 lakh pensioners. According to the employees, dearness allowance for July 2021 has been issued and dearness allowance for January 2022, July 2022 and January 2023 is outstanding.

The Tamil Nadu government also increased it, let us tell you that earlier the Tamil Nadu government had increased the dearness allowance by four per cent. After this, the DA received by them has increased from 34 percent to 38 percent. After this decision of Tamil Nadu government, there will be a huge increase in the salary of more than 16 lakh employees of the state. Till now the employees were given 34 per cent dearness allowance, which has now increased to 38 per cent. However, after this decision, there will be an increase in the expenditure of the government.

The post DA Increased: Good news for employee-pensioners, 2.73% hike in DA, arrears to be paid in 8 installments first appeared on Rightsofemployees.com.

The government has retained the interest rate of 7.1 percent for the fourth quarter of the current financial year on the General Provident Fund or General Provident Fund (GPF) and other similar funds for government employees. Prior to this i.e. in the quarter ending December 31, the interest rate on GPF was 7.1 percent. The Finance Ministry said in a notification on Tuesday, “This rate is valid from January 1, 2023 to March 31, 2023.” This rate has come into effect from January 1, 2023.

What is GPF or General Provident Fund?

GPF is a social security scheme, which is run for central government employees. Under this scheme, the employees are allowed to put some percentage of their salary in this scheme and their contribution keeps on accumulating in this fund. When he retires, his entire amount is paid to him.

The government revises the interest rates of GPF every quarter. This rate of 7.1% is also applicable to other provident funds run by other governments, such as Contributory Provident Fund, All India Services Provident Fund, Armed Forces Personnel Provident Fund, State Railway Provident Fund, etc.

There is no change in the interest rates of PPF, but small savings schemes will get more returns

Just in last week’s update, the government had also revised the interest rates of Public Provident Fund, but there was no change in its rates as well. Its rates also remain at 7.1%. However, interest rates on small savings deposit schemes including post office FD, NSC and Senior Citizen Savings Scheme were hiked by up to 1.1 per cent. This new rate has come into effect from January 1.

Mainly the interest of such post office schemes has been increased, on which income tax benefits are not available. There has been no change in the interest rates of the girl child savings scheme ‘Sukanya Samridhi’.

According to the notification of the Ministry of Finance, the interest rate on NAC, Senior Citizen Savings Scheme and Kisan Vikas Patra (KVP) has been increased by up to 1.1 percent. The income from these plans is taxable. National Savings Certificate (NSC) is getting interest at the rate of seven percent from January 1.

Similarly, the Senior Citizens Savings Scheme is getting eight percent interest as against the existing 7.6 percent. Interest rates on Post Office Fixed Deposit Scheme have increased by 1.1 percent for a period of one to five years. In the monthly income scheme also, instead of 6.7 percent, now 7.1 percent interest is being received.

The post Big news on PF of government employees, interest rate on GPF will not increase in January-March, return will be given from old rate only first appeared on Rightsofemployees.com.

The interest rate for GPF and other funds has been retained at 7.1 per cent for January to March of the current financial year by the Ministry of Finance.

The interest rate is reviewed on a quarterly basis.

Earlier, in the quarter ended December 31, the interest rate on GPF was at 7.1 per cent. In the notification issued by the Finance Ministry, it was said that this rate is valid from January 1, 2023 to March 31, 2023. Let us tell you that the government announces interest rates for GPF and other similar funds like CPF, AISPF, SRPF, AFPPF on a quarterly basis. A decision in this regard is given by the Finance Ministry.

What is GPF?

General Provident Fund (GPF) account is only for government employees. This is a retirement fund scheme. Government employees can voluntarily contribute up to 15% of their salary to GPF. In the ‘advance’ feature of this account, the employee can withdraw the fixed amount from the GPF account on any need. Not only this, after the work is done, you can also deposit it. No contribution is made to the GPF fund by the government.

Decision on DA will be taken in March.

Apart from this, the DA hike of central employees has become due from January 1. It is expected that the government will take a decision on this before Holi in March. The AICPI index till November has been released by the Labor Ministry. On the basis of this, it is believed that the government will increase dearness allowance and dearness relief by 4 percent in March. At present the central employees get 38 percent dearness allowance, in the coming time it will increase to 42 percent.

The post GPF Interest Rate Increased: Decision on GPF before DA for government employees, Finance Minister issued order first appeared on Rightsofemployees.com.

Under the new rule, now employees will be able to invest only up to Rs 5 lakh in GPF in a financial year. GPF is a scheme like PPF, in which only government employees can contribute. Let’s know the latest update.

Government changed the rules

It is worth mentioning that according to the General Provident Fund (Central Service) Rules, 1960, till now no upper limit was fixed for putting money in this fund. That is, according to the rules till now, employees could put one percent amount of their salary. But after this, on June 15, 2022, through a government notification, it was informed that these rules have been changed. According to this notification, now an amount of more than Rs 5 lakh cannot be added to the GPF account within a financial year.

Government issued notification

After this, on 11 October 2022, the Department of Pension and Pensioners’ Welfare (DoPPW) again issued an office memorandum. This new rule states that according to the General Provident Fund (Central Service) Rules, 1960, the GPF in respect of a subscriber should not be less than 6 per cent of the total emoluments. That is, then the upper limit was not fixed on it, but now this rule has changed.

What is GPF?

Now let’s talk about what is GPF? GPF is also a type of provident fund (PF) account, which is not open to all employees. Actually, only government employees get the benefit of GPF. For this, government employees have to contribute a certain part of their salary to GPF. It is mandatory for government employees to contribute in this.

Thereafter, the total amount accumulated from the contribution made by the employee to GPF during the period of employment is paid at the time of retirement of the employee. Let us tell you that the government does not contribute to GPF, only the employee contributes to it. Not only this, the Finance Ministry changes the interest rate of GPF every quarter.

Know the interest rate on GPF

Let us tell you that at present the interest received on GPF is similar to that of PPF. Significantly, the Department of Economic Affairs (DEA) has not made any change in the interest rates for the October to December quarter of 2022, and currently it is 7.1 percent.

The post GPF Rule Change: Big news for government employees! Changes in GPF rules, it is important for you to know first appeared on Rightsofemployees.com.

The Finance Ministry has announced interest rates for General Provident Fund and other Provident Funds. The Finance Ministry has not made any change in the interest rates and the same has been retained.

Releasing information in this regard, the Department of Economic Affairs of the Ministry of Finance has said that the interest rates for the October to December quarter of the financial year 2022-23 have been retained at 7.1 percent. The interest rates of other provident funds will also remain unchanged at 7.1 per cent. That is, the Finance Ministry has not made any change in the interest rates.

Apart from Provident Fund,

the Department of Economic Affairs, Ministry of Finance announces interest rates for GPF and related funds every quarter. Interest rates are also announced for CPF, AISPF, SRPF, AFPPF in these funds. GPF i.e. General Provident Fund and this is also a scheme like PPF but it is applicable only to government employees. That’s why it is named GPF. There has been no change in its interest rates for this quarter.

Know These Funds Also

CPF is also known as Contributory Provident Fund. Apart from All India Service Provident Fund or AISPF, there has been no change in interest rates on Railway Provident Fund and General Provident Fund Defense Services, Indian Ordnance Department Provident Fund. Here also the interest rate of 7.1 percent will continue to be available as before. Earlier, interest was given at the same rate for the July-September quarter of the financial year 2022-23 as well. Government employees were expecting a change or hike in interest rates during the festive season but the Finance Ministry has not made any changes.

The post Big news for government employees: Government released new interest rates of General Provident Fund, check new rate first appeared on Rightsofemployees.com.

There is big news for Central Government Employees. The government has made a big change in the rules related to retirement funds. According to the information received from the government, there has been a big change in the rules of General Provident Fund. If there is a government employee in your house too, then there is important news for all of them.

Let us tell you that the ceiling on PF has now been fixed by the government for investment in GPF. A ceiling has been put on the investment of Provident Fund. After this decision taken by the government, government employees can deposit only up to Rs 5 lakh in GPF.

What is GPF?

According to the information received from the government, this limit has been fixed for one financial year. GPF is a kind of voluntary scheme. Government sector employees invest in this scheme. In this, the benefit of 7.1 percent interest (GPF interest rate) is available on investment.

Let us tell you that government employees can deposit a part of their salary in the General Provident Fund and this money is returned to the account holders at the time of retirement. Interest is earned on the money deposited in GPF.

How much interest do you get?

Government employees can contribute up to 15 per cent of their salary. The advance fee of this account is the most special. Employees can withdraw the fixed amount from their account as and when required. No tax is levied on this amount and the government has fixed the interest amount at 7.1 percent.

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The government has made a big change in the rules of General Provident Fund. If you or there are any government employees in your house, then you must know these changes. Under the new rules, now the investment limit in GPF has been fixed.

Ceiling fixed at Rs 5 lakh

The central government has put a ceiling on the investment of General Provident Fund (GPF). According to the new rule, now any government employee will be able to deposit only up to Rs 5 lakh in GPF. This limit will be for one financial year. Let us tell you, government sector employees invest in GPF. This is a kind of voluntary scheme, which works like PPF. In this, an interest of 7.1 percent (GPF interest rate) is available on investment.

Till now there was no sealing

According to the Office Memorandum of the Department of Pension and Pensioners’ Welfare (DoPPW), under the GPF (Central Service) Rules 1960, the GPF contribution of the account holder should not be less than 6 percent of the total salary. Till now there was no limit for putting money in GPF. Employees could deposit a percentage of their salary in it. But the government has now imposed a maximum limit of Rs 5 lakh in a financial year.

GPF for government employees like PPF

Explain that like PPF, government employees can deposit a fixed part of their salary in the General Provident Fund. This money is returned to the account holder at the time of retirement. Interest is earned on the money deposited in GPF. It is managed under the Department of Pensioners Welfare, Ministry of Personnel, Public Grievances and Pensions.

What is GPF?

General Provident Fund (GPF) account is only for government employees. It is a type of retirement fund scheme. Government employees can contribute up to 15 percent of their salary to the GPF account. The ‘Advance’ feature of this account is the most special. In this, the employee can withdraw the fixed amount from the GPF account if needed and can deposit it later.

There is no tax on this. The government has fixed the interest rate of GPF at 7.1 percent. Interest is calculated on quarterly basis. The government does not make any contribution to GPF on its behalf, only the employee’s contribution is there.

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7th Pay Commission: There is a big news for the central employees. The government has made changes in the rules related to the retirement fund of employees. Under the new rules, now the investment limit in General Provident Fund has been fixed.

Fixed limit up to Rs 5 lakh

The Central Government has put a limit on the investment of General Provident Fund. This limit will be for one financial year. Let us tell you, government sector employees invest in GPF. This is a kind of voluntary scheme, which works like PPF. In this, an interest of 7.1 percent is available on investment.

No limit was set yet

According to the Office Memorandum of the Department of Pension and Pensioners’ Welfare, under the GPF (Central Service) Rules 1960, the GPF contribution of the account holder should not be less than 6 per cent of the total salary. Till now no limit was fixed for putting money in GPF. Employees could deposit a percentage of their salary in it. But the government has now imposed a maximum limit of Rs 5 lakh in a financial year.

GPF is for government employees

Explain that like PPF, government employees can deposit a part of their salary in the General Provident Fund (GPF). This money is returned to the account holder at the time of retirement. Interest is earned on the money deposited in GPF. It is managed under the Department of Pensioners Welfare, Ministry of Personnel, Public Grievances and Pensions.

General Provident Fund Account is only for government employees. It is a type of retirement fund scheme. Government employees can contribute up to 15 percent of their salary to the GPF account.

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There is important news for government employees. The government has changed the rules of General Provident Fund (GPF). Under the new rule, now employees will be able to invest only up to Rs 5 lakh in GPF in a financial year. GPF is a scheme like PPF, in which only government employees can contribute. Let’s know the latest updates.

government changed rules

It is noteworthy that as per the General Provident Fund (Central Service) Rules, 1960, till now no upper limit has been fixed for putting money in this fund. That is, according to the rules till now, employees could put a percentage of their salary. But after this, on June 15, 2022, through a government notification, informed that these rules have been changed. According to this notification, no more than Rs 5 lakh can be added to the GPF account within a financial year.

Government issued notification 

After this, on 11 October 2022, the Department of Pension and Pensioners Welfare (DoPPW) has again issued an Office Memorandum. This new rule states that as per the General Provident Fund (Central Service) Rules, 1960, the GPF in respect of a subscriber should not be less than 6 per cent of the total wages. That is, there was no upper limit on it then, but now this rule has changed.

What is GPF?

Now let’s talk about what is GPF? GPF is also a kind of provident fund (PF) account, which is not available to all employees. Actually, only government employees get the benefit of GPF. For this, government employees have to contribute a certain part of their salary to GPF. It is mandatory for government employees to contribute in this. Thereafter, the total amount accumulated out of the contribution made by the employee to GPF during the employment period is paid at the time of retirement of the employee. Let us tell you that the government does not contribute to GPF, only the employee’s contribution is there. Not only this, the Finance Ministry changes the interest rate of GPF every quarter.

Know the interest rate on GPF

Let us tell you that at present the interest earned on GPF is same as that of PPF. Significantly, the Department of Economic Affairs (DEA) has not made any change in the interest rates for the October to December quarter of 2022, and it is currently at 7.1 percent.

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There is big news for government employees. The government has changed the rules of General Provident Fund (GPF). Under the new rule, now employees will be able to invest only up to Rs 5 lakh in GPF in a financial year. Let us tell you that GPF is a scheme like PPF, in which only government employees can contribute.

Government changed rules

It is noteworthy that as per the General Provident Fund (Central Service) Rules, 1960, till now no upper limit has been fixed for putting money in this fund. That is, according to the rules till now, employees could put a percentage of their salary. But after this, on June 15, 2022, through a government notification, informed that these rules have been changed. According to this notification, no more than Rs 5 lakh can be added to the GPF account within a financial year.

Government issued notification

After this, on 11 October 2022, the Department of Pension and Pensioners Welfare (DoPPW) has again issued an Office Memorandum. This new rule states that as per the General Provident Fund (Central Service) Rules, 1960, the GPF in respect of a subscriber should not be less than 6 per cent of the total wages. That is, there was no upper limit on it then, but now this rule has changed.

What is GPF?

Now let’s talk about what is GPF? GPF is also a kind of provident fund (PF) account, which is not available to all employees. Actually, only government employees get the benefit of GPF. For this, government employees have to contribute a certain part of their salary to GPF. It is mandatory for government employees to contribute in this. Thereafter, the total amount accumulated out of the contribution made by the employee to GPF during the employment period is paid at the time of retirement of the employee. Let us tell you that the government does not contribute to GPF, only the employee’s contribution is there. Not only this, the Finance Ministry changes the interest rate of GPF every quarter.

Know the interest rate on GPF

Let us tell you that at present the interest earned on GPF is same as that of PPF. Significantly, the Department of Economic Affairs (DEA) has not made any change in the interest rates for the October to December quarter of 2022, and it is currently at 7.1 percent.

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New Delhi. There have been some changes in the rules of General Provident Fund (GPF). Now only up to Rs 5 lakh can be invested in this in a financial year. GPF is a scheme similar to PPF, but only government employees can contribute to it.

According to the General Provident Fund (Central Service) Rules, 1960, till now there was no upper limit for putting money in this fund. Till now, employees could put a percentage of their salary. These rules were changed through a government notification on 15 June 2022. According to the new rules, an amount cannot exceed Rs 5 lakh in a GPF account within a financial year.

Now, on 11 October 2022, the Department of Pension and Pensioners Welfare (DoPPW) has said the same thing in the Office Memorandum. The note states that as per the General Provident Fund (Central Service) Rules, 1960, the GPF in respect of a subscriber should not be less than 6 per cent of the total emoluments. However, there was no upper limit on this.

What is GPF?

GPF is a type of provident fund (PF) account, but it is not applicable to all employees. The benefit of GPF is available only to government employees. To get this benefit, government employees have to contribute a certain part of their salary to GPF. Contribution to GPF is mandatory for a certain category of government employees. The total amount made out of the contribution made by the employee to GPF during the employment period is paid to the employee at the time of retirement. The government does not contribute to GPF, only the contribution is made by the employee. The Ministry of Finance changes the interest rate of GPF every quarter.

Interest rate on

GPF Currently the interest on GPF is the same as that of PPF. The Department of Economic Affairs (DEA) has not changed the interest rates for the October to December quarter of 2022. At present it is 7.1 percent. The interest rates of other schemes such as CPF, AISPF, SRPF and AFPPF are also 7.1 per cent for this quarter.

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Under this, the ceiling of subscription of GPFF in a financial year should be up to Rs 5 lakh. However, earlier there was no limit on the total amount of subscription in a subscriber’s GPF account.

As per the General Provident Fund (Central Services) Rules, 1960, the amount of subscription to GPF in respect of a subscriber should not be less than 6% of the emoluments and not more than the total emoluments of the subscriber. However, there was no limit on the total amount of subscription in a subscriber’s own GPF account in a financial year.

Rule 7, 8 and 10 of the General Provident Fund (Central Services) Rules, 1960 vide notification No. G.S.R. 96 dated 15.06.2022 has been modified. As per the said notification dated 15.06.2022, the amount of monthly subscription by a subscriber under GPF during a financial year plus the amount of outstanding subscription deposited in that financial year shall be limited to) sub-rule of rule 9D of the Income-tax Rules, 1962 ( 2) referred to in sub-section (i) of clause (c) of the Explanation below [as referred to in Notification No. G.S.R. 604(E) dated 31.08.2021 Ministry of Finance, Department of Revenue (Central Board of Direct Taxes)] at present should not exceed five lakh rupees.

All Ministries/Departments are requested to make a request to all Government servants and in particular the Ministry/Department and its attached/subordinate offices under GPF in a financial year with regard to the above amended provisions of the GPF Rules, 1960. Wide publicity may be given to the personnel working for strict implementation of GPF cases in the

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Know how much interest you will get on GPF

While releasing the information in this regard, the Department of Economic Affairs of the Ministry of Finance said that “It is informed that for the subscribers for the October-December quarter of the financial year 2022-2023.” The interest rates have been retained at 7.1 per cent. The interest rate of 7.1 per cent is being implemented for the General Provident Fund and other similar funds from October 1, 2022 to December 31, 2022.

What are the Similar Provident Funds

For information, let us tell you that the Department of Economic Affairs of the Ministry of Finance announces interest rates for GPF and other similar funds like CPF, AISPF, SRPF, AFPPF for every quarter.

GPF is just a scheme like Public Provident Fund ie PPF but it is only for government employees. The interest rates of these Provident Funds have been kept unchanged for the third quarter of this financial year 2022-23.

Other fund interest rates

Contributory Provident Fund (CPF), All India Service Provident Fund (AISPF), The State Railway Provident Fund (SRPF), General Provident Fund (Defense Services), Indian Ordnance Department Provident Fund (IODPF) etc. all at the rate of 7.1 per cent to the government will pay interest. Earlier, for the July-September quarter also, interest at the rate of 7.1 per cent was given on these provident funds.

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Releasing information in this regard, the Department of Economic Affairs of the Ministry of Finance has said that the interest rates for the October to December quarter of the financial year 2022-23 have been retained at 7.1 percent. The interest rates of other provident funds will also remain unchanged at 7.1 per cent. That is, the Finance Ministry has not made any change in the interest rates.

Apart from Provident Fund, the Department of Economic Affairs, Ministry of Finance announces interest rates for GPF and similar funds every quarter. Interest rates are also announced for CPF, AISPF, SRPF, AFPPF in these funds. GPF i.e. General Provident Fund and this is also a scheme like PPF but it is applicable only to government employees. That’s why it is named GPF. There has been no change in its interest rates for this quarter.

Know These Funds Also

CPF is also known as Contributory Provident Fund. Apart from All India Service Provident Fund or AISPF, there has been no change in interest rates on Railway Provident Fund and General Provident Fund Defense Services, Indian Ordnance Department Provident Fund. Here also the interest rate of 7.1 percent will continue to be available as before. Earlier, interest was given at the same rate for the July-September quarter of the financial year 2022-23 as well. Government employees were expecting a change or hike in interest rates during the festive season but the Finance Ministry has not made any changes.

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