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 Monday.
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 for the months of October to December 2021. The current quarter's PPF interest rate is 7.1 per cent, compounded annually. Read: PPF, NSC & other small savings schemes interest for Q4 FY 21-22 unchanged
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.
Every non-pensioner government servant belonging to any of the services under the supervision of the President is covered by the Contributory Provident Fund Rules (India), 1962. For particular purposes, the Rules allow for the withdrawal of advances or withdrawals from the CPF. The CPF Rules, like the GPF Rules, include a revised Deposit Linked Insurance Scheme.
(TO BE PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA)
Government of India
Ministry of Finance
Department of Economic Affairs
New Delhi, the 3rd January, 2022
It is announced for general information that during the year 2021-2022, 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 January 2022 to 31st March, 2022. This rate will be in force w.e.f. 1st January, 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
Joint Secretary to the Govt. of India
The Manager, (Technical Branch)
Government of India Press, Minto Road, Delhi.