Dear Comrades,
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.
SS/SL (Release ID :83111) PIB
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.
SS/SL (Release ID :83111) PIB
