The Ministry of Finance has stored the rate of interest of GPF or Common Provident Fund unchanged at 7.1% for the January-March quarter of 2023. Based on a decision launched by the Division of Financial Affairs (DEA), Ministry of Finance, the rate of interest on GPF and different related funds will proceed to be 7.1% for the January-March quarter of 2023.

These charges are efficient from 1 January to 31 March, 2023, the DEA mentioned within the decision.

GPF is a social safety scheme obtainable to solely central authorities staff. Staff are allowed to contribute a sure share of their wage to the GPF and the general quantity accrued through the employment interval can be paid to the workers on the time of their retirement. 

The federal government revises the rate of interest on GPF each quarter. Within the earlier quarter ended 31 December, 2022, the GPF curiosity was related at 7.1%.

The 7.1% charge of curiosity of can also be relevant to different government-run provident funds together with the Contributory Provident Fund, All India Providers Provident Fund, Armed Forces Personnel Provident Fund, State Railway Provident Fund, amongst others.

The funds that may fetch an rate of interest of seven.1% are:

1. The Common Provident Fund (Central Providers);

2. The Contributory Provident Fund (India)

3. The All India Providers Provident Fund

4. The State Railway Provident Fund

5. The Common Provident Fund (Defence Providers)

6. The Indian Ordnance Division Provident Fund

7. The Indian Ordnance Factories Workmen’s Provident Fund

8. The Indian Naval Dockyard Workmen’s Provident Fund

9. The Defence Providers Officers Provident Fund

10. The Armed Forces Personnel Provident

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