General Provident Fund

Government workers can invest in the GPF, a long-term savings plan, and build up savings throughout the course of their employment. Upon retirement, an employee is paid the entire sum accumulated

General Provident Fund and other similar funds shall carry interest at the rate of 7.1% effective from April 1, 2024 to June 30, 2024

The government on Tuesday kept the interest rate unchanged at 7.1 per cent for the subscribers of the General Provident Fund and other similar funds. In the previous quarter ended December 31, the GPF interest was similar at 7.1 per cent. The rate is valid from January 1, 2023, to March 31, 2023, the finance ministry said in a notification. The rate will be in force with effect from January 1, 2023, it said.

The state government said the DA arrears amount was 'erroneously' credited into the GPF accounts of the employees 'due to a technical glitch'

The rate is in line with that of Public Provident Fund

The rate is in line with that for Public Provident Fund

Also simplified and liberalised conditions for taking advance from fund for education, illness etc