Important news for government employees; Central Government announces new rates for GPF | Big News for government employees new intrest rates of gpf announced

Important news for government employees; Central Government announces new rates for GPF | Big News for government employees new intrest rates of gpf announced

GPF Provident Fund | The GPF provident fund applies only to certain types of employees. Retirement benefits. To avail of this scheme, government employees have to deposit some of their salary in GPF account.

Important news for government employees;  Central Government announces new rates for GPF

General Provident Fund

New Delhi: The central government recently announced new General Provident Fund (GPF) interest rates for the September quarter. Accordingly, the account holders will now get 7.1 per cent interest. General Provident Funds also benefit like PPF and PF. However, the central government has not changed the GPF interest rate for the last six quarters. In April 2020, the central government had reduced the interest rate from 7.9 per cent to 7.1 per cent. (Big News for government employees new intrest rates of gpf announced)

The GPF provident fund applies only to certain types of employees. Retirement benefits. To avail of this scheme, government employees have to deposit some of their salary in GPF account. So GPF is mandatory for some government employees.
The money stored in this account is given to the concerned employee after retirement. In case of death of the concerned employee, the money goes to his heirs. No interest is charged on the loan taken on GPF account.

GPF interest rate will be applicable for which schemes?

General Provident Fund (Central Services)
2. Contributory Provident Fund
3. All India Services Provident Fund
4. State Railway Provident Fund
5. India Naval Dockyard Workman Provident Fund
6. Defense Services Officers Provident Fund
7. The Armed Forces Personal Provident Fund
8. General Provident Fund (Defense Service)
9. Indian Ordnance Department Provident Fund
10. India Ordnance Factories Workman Provident Fund

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(Big News for government employees new intrest rates of gpf announced)

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