The rates of interest on General Provident Fund (GPF)
is 8% for the period from 1.4.2011 to 30.11.2011 and 8.6% from
1.12.2011 to 31.3.2012, whereas the rate of interest on EPF for the
financial year 2011-12 is 8.25%. Rate of interest on EPF is fixed on
the recommendation of the Central Board of Trustees (CBT) by the
Employees Provident Fund Organisation (EPFO), Ministry of Labour and
Employment based on the income earned on the accumulated fund during the
financial year. However, rate of interest on GPF is generally fixed
after taking into consideration the average secondary market yields on
government securities of similar maturity.
This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in the Lok Sabha today.
This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in the Lok Sabha today.
Source : PIB, May 4, 2012
No comments:
Post a Comment