Wednesday, 24 January 2018

AP GPF and other similar funds as 7.6%(Seven point sixpercent) per annum with effect from 01.01.2018 to31.3.2018

Provident Fund-Interest rates on General Provident Fund (AndhraPradesh) for the subscribers of GPF and other similar funds as 7.6%(Seven point sixpercent) per annum with effect from 01.01.2018 to31.3.2018 for the year 2017-18

According to Rule 13(1) of General Provident Fund (AndhraPradesh) Rules 1935, Government shall pay to the credit of the accountof a subscriber interest at such rate as may be determined for eachyear according to the method of calculation prescribed from India forpayment of interest on subscription to the General provident Fund inrespect of Central Services.

In the G.O.1stread above, the State Government have adopted theinterest rate of 7.9% per annum with effect from 1.4.2017 to 30.6.2017, asordered by the Government of India.


In the reference 2nd read above, the Government of India through resolution No. F.No.5 (1)-B(PD)/2017, dated. 1.01.2018 announced the interest for the subscribers of General Provident Fund (Central Services)at 7.6 % per annum for the period from 01.01.2018 to 31.03.2018 during the year 2017-18.


Government after careful examination of the matter, hereby order toAdopt&revision the rate of interest as 7.6 % per annum for the periodfrom 01.01.2018 to 31.03.2018 during the year 2017-18 on the followingProvident Funds and other similar funds maintained by the Governmentof Andhra Pradesh on par with rates of Government of India.

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