GPF Interest rate June 2023Edited by: InfoTechies
GPF Interest: The General Provident Fund is a specific type of provident fund available to government employees in India. Every public employee is allowed to contribute a certain percentage of their salary to the General Provident Fund. Employees receive the full amount accrued during their employment at the time of retirement as a result. Every three months, the finance minister adjusts the interest rate for GPF.
Senior Citizen Savings Scheme interest rates have increased to 8%. Interest rates for Kisan Vikas Patra would be 7.2%. A 3-year post office time deposit now carries an interest rate of 6.9%, while a 5-year post office time deposit now carries an interest rate of 7%.
GPF and other provident fund plan interest rates
For the January through March 2023 quarter, the following funds will earn an interest rate of 7.1%:
- The General Provident Fund (Central Services
- The Contributory Provident Fund (India)
- The All India Service Provident Fund
- The State Railroad Provident Fund
- The General Provident Fund, number five (Defence Services)
- The Provident Fund of the Indian Ordnance Department
- The Workmen’s Provident Fund of Indian Ordnance Factories
- The Workmen’s Provident Fund for Indian Naval Dockyards
- The Defence Officers’ Provident Fund
- The Military Personnel Provident Fund.
GPF Interest Rate | Year-wise List
General Provident Fund Interest Rate fluctuations affect all government employees’ finances and future significantly, thus they should be informed of them.
|Financial Year||GPF Interest Rate|
|2007 – 2008||8%|
|2008 – 2009||8%|
|2009 – 2010||8%|
|2010 – 2011||8%|
|2011 – 2012||8% – November 20118.6% from November 2011 – March 2012|
|2012 – 2013||8.80%|
|2013 – 2014||8.70%|
|2014 – 2015||8.70%|
|2015 – 2016||8.70%|
|2016 – 2017||8.1% – September 20168% from September 2016 – March 2017|
|2017 – 2018||7.9% from April 2017 – June 20177.8% from July 2017 – September 20177.8% from September 2017 – December 20177.6% from January 2018 – March 2018|
|2018 – 2019||7.6% from April 2018 – September 20188% from October 2018 – March 2019|
|2019 – 2020||8% from April 2019 – June 20197.9% from July 2019 – March 2020|
|2020 – 2021||7.10%|
|2021 – 2022||1st July 2022 to 30th September 20221st April 2022 to 30th June 20221st January 2022 to 31st March 2022 – 7.1%|
|2023 – 2024||January – March – 7.1%|
General Provident Fund-eligible
All temporary government employees after a year of continuous service, all reemployed pensioners (aside from those eligible for admission to the Contributory Provident Fund), and all permanent government employees are all eligible, according to the Ministry of Personnel, Public Grievances, and Pensions website.
All of the aforementioned categories of government employees are covered by the General Provident Fund (Central Services) Rules from 1960.
GPF Deposit Limit
- The minimum deposit amount can be 6% of the subscriber’s salary
- The maximum deposit amount can be 100% of the subscriber’s salary.
GPF Interest Rate from Jan 2023 to March 2023
|GPF Interest Rate from Jan 2023 to March 2023|
(TO BE PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA)
Government of India
Ministry of Finance
Department of Economic Affairs
New Delhi, the 03 January 2023
It is announced for general information that during the year 2022-2023, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall Carry ‘interest at the rate of 7.1% (Seven points one percent) w.e.f. 1st January, 2023 to 31st March, 2023. This rate will be in force w.e.f. 1st January 2023. The funds concerned are:
GPF Interest Calculator 2022-23
1. The General Provident Fund (Central Services).
2. The Contributory Provident Fund (India).
3. The All India Services Provident Fund.
4. The State Railway Provident Fund.
5. The General Provident Fund (Defence Services).
6. The Indian Ordnance Department Provident Fund.
7. The Indian Ordnance Factories Workmen’s Provident Fund.
8. The Indian Naval Dockyard Workmen’s Provident Fund.
9. The Defence Services Officers Provident Fund.
10. The Armed Forces Personnel Provident Fund.
2. Ordered that the Resolution be published in the Gazette of India.
Additional Secretary to the Govt. of India
The Manager, (Technical Branch)
Government of India Press, Minto Road, Delhi.