Tamil Nadu GPF Interest Rate from Oct 2019
Government of Tamil Nadu
FINANCE [Allowances] DEPARTMENT
G.O.Ms.No.334, Dated 24th October, 2019.
(Vikari, Aippasi-7, Thiruvalluvar Aandu 2050)
Provident Fund – General Provident Fund (Tamil Nadu) – Rate of interest for the financial year 2019-2020 – With effect from 1.10.2019 to 31.12.2019 – Orders – Issued.
Read the following:-
1. G.O.Ms.No.126, Finance (Allowances) Department, dated 24.04.2019.
2. G.O.Ms.No.223, Finance (Allowances) Department, dated 18.07.2019.
3. From the Government of India, Ministry of Finance, Department of Economic Affairs (Budget Division), New Delhi Resolution F.No.5(2)-B(PD)/2019, dated 21.10.2019.
In the Government Order first and second read above, orders were issued regarding fixation of the rate of interest on the accumulation at the credit of the subscribers of General Provident Fund (Tamil Nadu) during the financial year 2019-2020 as detailed below:
|Sl.No.||Quarter||Period||Rate of Interest|
|1||I||1-04-2019 to 30-06-2019||8.00%|
|2||II||1-07-2019 to 30-09-2019||7.90%|
2. The Government of India, in its resolution third read above, announced that during the year 2019-2020, accumulation at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.9% (Seven point nine percent) with effect from 1st October, 2019 to 31st December, 2019.
3. The Government now direct that the rate of interest on the accumulation at the credit of the subscribers to General Provident Fund (Tamil Nadu) shall carry interest at the rate of 7.9% (Seven point nine percent) with effect from 1st October, 2019 to 31st December, 2019.
4. The rate of interest on belated final payment of Provident Fund accumulation remaining unpaid for more than three months of its becoming payable shall be at the same rates as ordered in para-3 above.
(BY ORDER OF THE GOVERNOR)
PRINCIPAL SECRETARY TO GOVERNMENT