- Interest rates on General Provident Fund

ORDER:

According to Rule 13(1) of General Provident Fund (Andhra Pradesh) Rules

1935, Government shall pay to the credit of the account of a subscriber interest at

such rate as may be determined for each year according to the method of calculation

prescribed from time to time by the Government of India for payment of interest on

subscription to the General provident Fund in respect of Central Services.

2. In the G.O.1st read above, the State Government have adopted the interest

rate of 8% per annum with effect from 01.04.2019 to 30.06.2019, and in the

reference 2nd read above, adopted the interest rate of 7.9% per annum with effect

from 01.07.2019 to 30.09.2019 as ordered by the Government of India.

3. In the reference 3rd read above, the Government of India through resolution

No. F.No. 5(2)-B(PD)/2019, Dated.21.10.2019 announced the interest rate for the

subscribers of General Provident Fund (Central Services) at 7.9% per annum for the

period from 01.10.2019 to 31.12.2019 during the financial year 2019-20.

4. Government after careful examination of the matter, hereby ordered to

continue the rate of interest at 7.9% per annum for the period from 01.10.2019 to

31.12.2019 during the year 2019-20 on the following Provident Funds and other

similar funds maintained by the Government of Andhra Pradesh on par with rates of

Government of India.

a. The General Provident Fund (Andhra Pradesh) Rules1935

b. The Electricity Department Provident Fund Rules.

c. Emergency Cut and Compulsory Saving Rules, 1949.

d. Government Distilleries Employees Provident Fund

e. Andhra Pradesh Government Life Insurance Fund.

f. Andhra Pradesh Employees Welfare Fund Rules.