Interest rates on General Provident Fund (Andhra Pradesh) for the subscribers of GPF and other similar funds as 7.8 % (Seven point eight percent) per annum with effect from 01.07.2017 to 31.12.2017 for the year 2017-18 – Orders
GOVERNMENT OF
ANDHRA PRADESH ABSTRACT
Provident Fund-Interest rates on General Provident
Fund (Andhra Pradesh) for the subscribers of
01.07.2017 to 31.12.2017 for the year 2017-18 – Orders Issued.
--------------------------------------------------------------------------------------------------------------------------FINANCE (HR-5-Pension, GPF) Department
G.O.R T.No. 2087 Dated: 31-10-2017.
Read the following:-
. G.O.Rt.No.1171,Finance (HR.5) Department,
dated 17.5.2017.
2.
GOI, Resolution No.F.No.5(1)-B(PD)/2017,
Ministry of Finance, Department of Economic Affairs (Budget Division), dated
17.07.2017 & 23.10.2017.
ORDER:
****
According to Rule 13(1) of General Provident Fund (Andhra Pradesh) Rules
1935,
Government shall pay to
the credit of the account of a subscriber interest at such rate as may be determined for each year according
to the method of calculation prescribed from time to time by the
Government of India for payment of interest on subscription to the
General provident Fund in respect of Central Services.
1. In the G.O. 1st
read above, the State
Government have adopted the interest rate of 7.9% per annum with effect from 1.4.2017 to 30.6.2017, as ordered by the
Government of India.
2. In the reference 2nd read above, the
Government of India through resolution No. F.No.5 (1)-B(PD)/2017, dt. 17.7.2017 & 23.10.2017 announced the interest for the subscribers of
General Provident Fund (Central
Services) at 7.8 % per annum for the period from 01.07.2017 to 31.12.2017 during the year 2017- 18 and will be in force w.e.f. 1st July 2017.
3.Government
after careful examination of the matter, hereby
ordered to adopt & revision of the rate of interest
as 7.8 % per annum for the period from 01.07.2017 to 31.12.2017 during the year 2017-18
on the following Provident Funds and other similar
funds maintained by the Government of Andhra Pradesh on par with rates of Government of India.
1.
The General Provident Fund (Andhra Pradesh) Rules1935.
2.
The Electricity Department Provident Fund Rules.
3.
Emergency Cut and Compulsory Saving
Rules, 1949.
4.
Government Distilleries Employees Provident Fund.
5.
Andhra Pradesh Government Life Insurance Fund.
6.
Andhra Pradesh Employees Welfare
Fund Rules.
(BY ORDER AND IN THE NAME OF THE GOVERNOR OF ANDHRA
PRADESH)
HEMA MUNIVENKATAPPA
SPECIAL
SECRETARY TO GOVERNMENT
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