Rate of Interest on GPF and other similar funds for first Quarter of FY 2021-22

General Provident Fund (GPF) and other similar funds interest at the rate of 7.1% for first Quarter (1st April, 2021 to 30th June, 2021) of financial year 2021-22

F. No. 5(4)-B(PD)/2021
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

North Block, New-Delhi
Dated the 19th April, 2021

OFFICE MEMORANDUM

Subject: Rate of Interest on General Provident Fund (GPF) and other similar funds including Special Deposit Schemes, 1975 (SDS, 1975) for non-Government Provident, Superannuation and Gratuity Funds for first Quarter of financial year 2021-22.

The undersigned is 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% (Seven point one percent) 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:

The General Provident Fund (Central Services).
The Contributory Provident Fund (India).
The All India Services Provident Fund.
The State Railway Provident Fund.
The General Provident Fund (Defence Services).
The Indian Ordnance Department Provident Fund.
The Indian Ordnance Factories Workmen’s Provident Fund.
The Indian Naval Dockyard Workmen’s Provident Fund.
The Defence Services Officers Provident Fund.
The Armed Forces Personnel Provident Fund.

2. 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) Notification No.F.16(1)-PD/75 dated 30th June, 1975, shall with effect from 1st April, 2021 to 30th June, 2021 bear interest at 7.1% (seven point one percent). This rate will be in force w.e.f. 1st April, 2021.

3. This issues with the approval of Hon’ble Finance Minister.

(Sanjay Rawat)
Under Secretary (Budget)

To:

All Ministries/Departments of Government of India, President’s Secretariat, Vice-President’s Secretariat, Prime Minister’s Office, Lok Sabha Secretariat, Rajya Sabha Secretariat, Cabinet Secretariat, Union Public Service Commission, Supreme Court, Election Commission and NITI Aayog.

Copy forwarded to :

1. Comptroller & Auditor General of India and all offices under his control.
2. Chairman, Pension Fund Regulatory and Development Authority.
3. Controller General of Accounts (10 copies).
4. Ministry of Personnel Public Grievances and Pension (Pension Unit/All India Services Division).
5. Financial Adviser of Ministries/Departments (6 copies).
6. Chief Controller of Accounts/Controller of Accounts of Ministries/Departments.
7. Controller General of Defence Accounts.
8. Finance Secretary of all State Governments and Union Territories.
9. Secretary to Governors/Lt. Governors of all States/Union Territories.
10. Secretary Staff Side, National Council of JCM.
11. All Members, Staff Side, National Council of JCM.
12. NIC – For uploading on webhost.

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Also check the following links related to this topic:

GPF Interest rate for 4th Quarter of FY 2020-21 from 1st Jan, 2021 to 31st March, 2021

GPF interest from October 2020 – calculate GPF interest

GPF and other Provident Fund Interest Rates reduced to 7.1% from April 2020 to June 2020

GPF and other similar funds Interest Rate w.e.f. 1st January, 2020 to 31st March, 2020