Provident Fund Interest Rate hiked to 8.8%
Department of Economic Affairs, Ministry of Finance has marginally increased the interest rate from 8.6% (paid for the period from 1.12.2011 to 31.03.2012) to 8.8% with effect from 01.04.2012 for deposits made in various Provident funds (including General Provident Fund) applicable to Central Government Employees.
The resolution F.No: 5(1) – B (PD)/2012 dated 22.05.2012 passed in this regard is reproduced below
(PUBLISHED IN PART I SECTION OF GAZETTE OF INDIA)
Government of India
Ministry of Finance
(Department of Economic affairs)
New Delhi, the 22nd May, 2012
It is announced for general information that during the year 2012-2013, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 8.8% (Eight point eight per cent) per annum. This rates will be in force during the financial year beginning on 1.4.2012.
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.
2. Ordered that the Resolution be published in Gazette of India.
Deputy Secretary (Budget)