Govt leaves General Provident Fund and other similar funds interest unchanged at 7.1%

New Delhi: The Narendra Modi government has decided to leave the General Provident Fund (GPF), interest rate unchanged at 7.1%

The Office Memorandum of the Department of Economic Affairs (Budget Division) has directed to state that during the year 2021-2022, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.1% w.e.f. 1st April, 2021 to 30th June, 2021. This rate will be in force w.e.f. 1st April, 2021.

The funds concerned are:

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.

Also, the deposits made under the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds, announced in the Ministry of Finance (Department of Economic Affairs), shall with effect from 1st April, 2021 to 30th June, 2021 bear interest at 7.1% . This rate will be in force w.e.f. 1st April, 2021.