Provident Fund Interest Rates – GPF, CPF, Railway Provident Fund, Service Provident Fund Interest Rates revised to 8% from 8.1% with effect from 1st October 2016
Finance Ministry Resolution for interest rate of 8.1% for GPF and other such funds
General Provident Fund (GPF) is applicable to Central Government Employees who have joined in the service before 01.01.2004. Govt has made National Pension System which is also called National Pension Scheme as a mandatory pension scheme in respect of employees who have joined on or after 1st January 2004
With the introduction of NPS w.e.f. 01.01.2004, the number of subscribers under the GPF scheme will decrease as time goes by. Moreover, the scheme has worked well over the past 65 years
EPFO has amended the Section 192A of the IT Act 1961 on charging TDS on PF withdrawals
Tamilnadu Government Finance Department has announced the interest rate for PF for the year 2015-2016 at 8.7% and any belated payments will also attract 8.7% interest.