Textile value Chain

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Govt Retains GPF Interest Rate at 8% for Apr-June.

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The government has retained the interest rate for General Provident Fund (GPF) and other related schemes at 8% for the April-June quarter. The rate is in line with that of Public Provident Fund. “It is announced for general information that during the year 2019-20, accumulations at the credit of subscribers to the GPF and other similar funds shall carry interest at the rate of 8 per cent with effect from April 1 to June 30, 2019,” a Department of Economic Affairs notification said. The interest rate on GPF was at 8% in the January-March quarter of 2018-19. The interest rate will be applicable on provident funds of central government employees, railways and defence forces.

 

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