PF Interest: The Central Government has today announced the interest rates for General Provident Fund or GPF and has kept it at 7.1 percent without making any changes in it.
PF Interest News: The Finance Ministry has today fixed the interest rates for General Provident Fund or GPF. The Finance Ministry has kept the interest rates for General Provident Fund (GPF) and similar provident funds stable without any change for the October-December quarter (Oct-Dec 2024). In the October-December quarter of the current financial year, the Central Government has not made any change in the interest rates for GPF and has kept it at 7.1 percent.
7.1 percent interest rate has been available for several consecutive quarters
GPF is a social security scheme of the central government. The Finance Ministry has said that there has been no change in the interest of State Railway Fund, Contributory Provident Fund, Armed Personnel Provident Fund and All India Services Provident Fund along with other government provident funds. It is 7.1 percent in the fourth quarter. The central government decides the interest rate of GPF every quarter. Earlier also in the July-September 2023-24 quarter, the GPF interest rate was only 7.1 percent.
Department of Economic Affairs released information
Releasing information in this regard, the Department of Economic Affairs of the Finance Ministry said, “It is informed that the interest rates for the subscribers of General Public Fund for the October-December quarter of the financial year 2023-2024 will be kept at 7.1 percent. Has been retained. For General Provident Fund and other similar funds, the interest rate of 7.1 percent is being made effective from October 1, 2023 to December 31, 2023.
What is GPF?
GPF is a scheme like Public Provident Fund i.e. PPF but it is only for government employees. The Department of Economic Affairs of the Finance Ministry announces the interest rates for GPF and other similar funds like CPF, AISPF, SRPF, AFPPF every quarter.
These funds which are getting equal interest
1. General Provident Fund (Central Services)
2. Contributory Provident Fund (CPF)
3. All India Service Provident Fund (AISPF)
4. The State Railway Provident Fund (SRPF)
5. General Provident Fund (Defence Services)
6. Indian Ordnance Department Provident Fund (IODPF)
7. Indian Ordnance Factories Workmen’s Provident Fund
8. Indian Naval Dockyard Workmen’s Provident Fund
9. Defense Services Officers Provident Fund
10. Armed Forces Personal Provident Fund
