7th pay matrix: The government has made a big change in the rules related to retirement funds. According to the information received from the government, there has been a big change in the rules of General Provident Fund.
7th Pay Commission: There is big news for Central Government Employees. The government has made a big change in the rules related to retirement funds. According to the information received from the government, there has been a big change in the rules of General Provident Fund. If there is a government employee in your house too, then there is important news for all of them.
Ceiling on PF
Let us tell you that the government has now fixed the investment limit in GPF. A ceiling has been put on the investment of Provident Fund. After this decision taken by the government, government employees can deposit only up to Rs 5 lakh in GPF.
What is GPF?
According to the information received from the government, this limit has been fixed for one financial year. GPF is a kind of voluntary scheme. Government sector employees invest in this scheme. In this, the benefit of 7.1 percent interest (GPF interest rate) is available on investment.
Get money at the time of retirement
Let us tell you that government employees can deposit a part of their salary in the General Provident Fund and this money is returned to the account holders at the time of retirement. Interest is earned on the money deposited in GPF.
How much interest do you get?
Government employees can contribute up to 15 per cent of their salary. The advance fee of this account is the most special. Employees can withdraw the fixed amount from their account as and when required. No tax is levied on this amount and the government has fixed the interest amount at 7.1 percent.
