Public Provident Fund (Amendment) Scheme 2020 – Gazette Notification

Public Provident Fund (Amendment) Scheme 2020 – Revised Interest Rate w.e.f 1st April, 2020: Gazette Notification

भारत का राजपत्र
The Gazette of India

सी.जी.-डी.एल.-अ.-09052020-219318
CG-DL-E-09052020-219318

असाधारण
EXTRAORDINARY

भाग II—खण्ड 3—उप–खण्ड (i)
PART II—Section 3—Sub-section (i)

प्राधिकार से प्रकाशित
PUBLISHED BY AUTHORITY

सं. 216] नई दिल्ली, शनिवार, मई 9, 2020/वैशाख 19, 1942

No. 216]  NEW DELHI, SATURDAY, MAY 9, 2020/VAISAKHA 19, 1942

MINISTRY OF FINANCE

(Department of Economic Affairs) 

NOTIFICATION

New Delhi, the 5th May, 2020

G.S.R. 290(E).—In exercise of the powers conferred by section 3A of the Government Savings Promotion Act, 1873 (5 of 1873), the Central Government hereby makes the following Scheme to amend the Public Provident Fund Scheme, 2019, namely:-

1. (1) This Scheme may be called the Public Provident Fund (Amendment) Scheme, 2020.

(2) They shall be deemed to have come into force on the 1st day of April, 2020.

2. In the Public Provident Fund Scheme, 2019, in paragraph 7, for sub-paragraph (1), the following sub-paragraphs shall be substituted, namely:-

“(1) The deposits made in the account between 12th December, 2019 to 31st March, 2020 (both days inclusive) and the balances at the credit of the account shall bear interest at the rate of 7.9 per cent. per annum. Lowest balance at the credit of an account between the close of the fifth day and the end of the month shall be eligible for interest.

(1A) The deposits made in the account on or after the 1st day of April, 2020 and the balances at the credit of the account shall bear interest at the rate of 7.1 per cent. per annum. Lowest balance at the credit of an account between the close of the fifth day and the end of the month shall be eligible for interest.”

[F. No. 1/04/2019-NS]

RAJAT KUMAR MISHRA, Jt. Secy.

Note: The principal Scheme was published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i), vide notification no. G.S.R. 915(E), dated the 12th December, 2019.

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