Govt leaves General Provident Fund rate of interest unchanged at 7.1% for Jul-Sept

The Government of India has declared a 7.1% rate of interest of General Provident Fund (GPF) and different related retirement schemes for the July to September quarter of the monetary yr 2021-2022.

The rate of interest declared on these provident funds is identical as charges provided beneath the general public provident fund (PPF), which can also be at 7.1%.

Earlier, the federal government had declared the identical rate of interest for April to June 2021 quarter

It would be the sixth consecutive quarter when the GPF rate of interest might be 7.1%. In April 2020, the central authorities had slashed GPF rate of interest from 7.9% to 7.1%.

The rate of interest might be relevant on the next provident fund schemes:

1. The General Provident Fund (Central Services)

2. The Contributory Provident Fund

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 India 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

(Do you’ve got private finance queries? Send them to mintmoney@livemint.com and get them answered by trade specialists)

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