7th Pay Commission: After PPF, GPF investors are also disappointed. A few days ago, the government had increased the interest rates for many Small Savings Schemes. But there was no change in the interest rates of Public Provident Fund i.e. PPF for the April-June quarter.
Now the interest rates of General Provident Fund (GPF) and other provident fund schemes of central employees have also been announced. The Finance Ministry has not made any change in the interest rate of these schemes for the April-June quarter. It has been retained at 7.1 per cent.
The ministry said that the interest rate for GPF (Central Services), Contributory Provident Fund (India), All India Services Provident Fund, State Railway Provident Fund, GPF Defense Services, Indian Ordnance Department Provident Fund has been fixed at 7.1 per cent for the April-June quarter. Has been.
General Provident Fund is a type of provident fund. This is only for government employees. All government employees can contribute some part of their salary in this. The total amount deposited in this is given to the employee at the time of retirement. The Finance Ministry fixes the interest rate on GPF every quarter.
Interest rate on PF
Recently, the Employees’ Provident Fund Organization (EPFO) had fixed the interest rate at 8.15 per cent for the financial year 2022-23. Also, the government had increased the interest rates for many small savings schemes. In these, an increase of 20 to 70 basis points was made.
The interest rate on Sukanya Samriddhi Account Scheme has been increased from 7.6 per cent to 8 per cent. But there was no change in the interest rate on PPF. Normally the interest rate on GPF and PPF is same. Therefore, after there was no increase in the interest rate of PPF, it was believed that there would be no change in the interest rate of GPF.
