Govt announces 7.1% interest for GPF and similar funds

The interest rate on the General Provident Fund (GPF) will continue to be 7.1 per cent as per the order issued by the Finance Department on Thursday.

Previously, the national government had maintained the interest rates on PPF, NSC (National Saving Certificate), Sukanya Samriddhi Yojana (SSY), and other small saving programmes untouched

All permanent government employees and all temporary government employees after one year of continuous service, all re-employed pensioners (except those eligible for admission to the Contributory Provident Fund), are covered under the General Provident Fund (Central Services) Rules 1960.

(TO BE PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA)
F.NO. 5(4)-B(PD)/2021
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

New Delhi, the 14th July 2022

RESOLUTION

It is announced for general information that during the year 2022-2023, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.1% (Seven point one percent) w.e.f. 1st July, 2022 to 30th September, 2022. This rate will be in force w.e.f. 1st July, 2022. The funds concerned are:

1. The General Provident Fund (Central Services).
2. The Contributory Provident Fund (India).
3. The All India Services Provident Fund.
4. The State Railway Provident Fund.
5. The General Provident Fund (Defence Services).
6. The Indian Ordnance Department Provident Fund.
7. The Indian Ordnance Factories Workmen’s Provident Fund.
8. The Indian Naval Dockyard Workmen’s Provident Fund.
9. The Defence Services Officers Provident Fund.
10. The Armed Forces Personnel Provident Fund.

2. Ordered that the Resolution be published in Gazette of India.

(Ashish Vachhani)
Joint Secretary to the Govt. of India