GPF interest rate Jan March 2023 quarter: Central employees are going to get the benefit of the central government’s decision on interest rates on the General Provident Fund.
New Delhi: For the fourth and last quarter of the financial year 2022, the Central Government has announced the interest rates of General PF. The central government employees are going to get the benefit of the decision of interest rates on the General Provident Fund. The Finance Ministry has retained the existing interest rates for employees of Armed Forces, Railways, Central Government and other government sectors. Employees were expecting interest rates to be raised.
General Provident Fund (GPF) is given only to government employees. Under GPF, all government employees are allowed to contribute a certain percentage of their salary to the General Provident Fund. Hence, the total amount accumulated during the employment period is paid to the employees at the time of retirement. The Finance Ministry reviews the interest rates on GPF every quarter and revises the interest rates.
For the January-March quarter of the financial year 2022, the Finance Ministry has decided on the interest rates on mixed funds including General PF. The ministry has said that no change has been made in the interest rates. Therefore, interest rates will be applicable on mixed funds including GPF as before. The ministry has said that the interest rate of General Provident Fund will remain at 7.1 percent. This means that interest at the rate of 7.1 per cent will be applicable on other combined funds including GPF.
Interest rates applicable on these provident funds for the January March 2023 quarter
The Finance Ministry has retained the interest rates given in the Provident Fund for employees of all types of government services as before. Under this, interest rates are fixed for GPF and other similar funds like CPF (Contributory Provident Fund), AISPF (All India Services Provident Fund), SRPF (State Railway Provident Fund), AFPPF (Armed Forces Personnel Provident) etc. .
