Thursday, 14 July 2016

General Provident Fund (GPF) Rate of interest for the Financial Year 2016-17-TS GO.2075

General Provident Fund (GPF) Rate of interest for the Financial Year 2016-17-TS GO.2075 
General Provident Fund (GPF) Rate of interest for the Financial Year 2016-17-TS GO.2075 , TS Govt adopted the rate of interest from 8.1% per annum w.e.f.01/04/2016 to 30.06.2016 on the Provident Funds on par with the rates of Government of India . Rate of interest for the Financial Year 2016-17 on the accumulations on the credit of subscribers in the General Provident Fund and other similar funds until further orders – Issued.

Government of Telangana, Finance (Hrm.V) Department
G.O.RT.No. 2075 Dated: 14-07-2016
Provident Fund – Rate of interest for the Financial Year 2016-17 on the accumulations on the credit of subscribers in the General Provident Fund and other similar funds until further orders – Issued.

References:
1. G.O.Ms.No.2142 Fin (Pen.II) Dept., dated.30.04.2013.
2. GOI, resolution No.F.No. 5 (1)-B(PD)/2016, Ministry of Finance and
Company Affairs (Department of Economic Affairs) dt:02/06/2016.
3. Dy. Accountant General (Funds), O/o the Principal Accountant
General (A&E), A.P.&T.S, Hyderabad FM/GI.II/9-3/2016-17/7, dated
06-06-2016.

ORDER:
1. According to Rule 13(1) of General Provident Fund (Telangana State) Rules, “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”.

2. In the G.O 1stread above, the erstwhile Combined State Government have adopted the interest rate of 8.7% per annum ordered by the Government of India with effect from 01.04.2013 until further orders.

3. In the reference 2th read above, the Government of India through its Resolution No. F.No. 5 (1)-B(PD)/2016 GOI, dt:02.06.2016 revised the rates of interest for the subscribers of General Provided Fund (Central Services) for the year 2016-17 as follows:
8.1% with effect from 1/04/2016 to 30.06.2016

4. The Deputy Accountant General (Funds), in his letter 3rdread above has requested to issue necessary Government orders duly revising the rates of interest on GPF., etc., maintained in the State for the year 2016-17 w.e.f. 01/04/2016 to 30.06.2016.

5. Government, after careful consideration of the matter, hereby adopt the rate of interest from 8.1% per annum w.e.f. 01/04/2016 to 30.06.2016 on the following Provident Funds on par with the rates of Government of India.
1) The General Provident Fund (Telangana State) Rules, 1935.
2) The Electricity Department Provident Fund Rules.
3) Emergency Cut and Compulsory Saving Rules, 1949.
4) Government Distilleries Employees Provident Fund.
5) Telangana State Government Life Insurance Fund.
6) Telangana State employees Welfare Fund Rules.

6. The G.O is available on Internet and can be accessed at http://www.telangana.gov.in/goir.

#GPF Rate of interest for the Financial Year 2016-17

#GPF Rate of interest for the Financial Year 2016-17-TS GO.2075

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