Read the following:
1. G.O.Rt.No.1204, Finance (HR.5)Departmentdt. 22.05.2018
2.GOI, Resolution F.No.5(1)-B(PD)/2018, Ministry of Finance, Department of Economic Affairs (Budget Division), Dated 04.10.2018.
**** ORDER:
According to Rule 13(1) of General Provident Fund (Andhra Pradesh) Rules 1935, Government shall pay to the credit of the account of a subscriber interest at such rate as may be determined for each year according to the method of calculation prescribed from time to time by the Government of India for payment of interest on subscription to the General provident Fund in respect of Central Services.
- In the G.O.1stread above, the State Government have adopted the interest rate of 7.6% per annum with effect from 1.4.2018 to 30.6.2018, as ordered by the Government of India.
- In the reference 2nd read above, the Government of India through resolution No. F.No.5(1)-B(PD)/2018, Dated.04.10.2018 announced the interest for the subscribers of General Provident Fund (Central Services) at 8% per annum for the period from 01.10.2018 to 31.12.2018 during the year 2018-19.
- Government after careful examination of the matter, hereby ordered to Continue the rate of interest at 8% per annum for the period from 01.10.2018 to 31.12.2018 during the year 2018-19 on the following Provident Funds and other similar funds maintained by the Government of Andhra Pradesh on par with rates of Government of India.
- The General Provident Fund (Andhra Pradesh) Rules1935
- The Electricity Department Provident Fund Rules.
- Emergency Cut and Compulsory Saving Rules, 1949.
- Government Distilleries Employees Provident Fund
- Andhra Pradesh Government Life Insurance Fund.
- Andhra Pradesh Employees Welfare Fund Rules.
