Central govt employees note! GPF and CPF interest rates for the December quarter announced
Contents News/Article Date: 6th October 2022
Relating to which Act: The Employees Provident Funds & Miscellaneous Provisions Act, 1952
Type: ET Now – News Item
Pertains to: Central Government employees
Relevance of this news: As we all know that under the Provident Fund and Employee State Insurance Corporation Act, it is mandatory to provide some contributory and health care benefits to employees for which there is some percentage contribution on the part of the employer towards each and every employee who is eligible for this purpose in the immediate and long-run while in tenure of service. These are also known as social security benefits that are governed and managed by Government bodies as per rules and regulations laid down and understood by all employers applicable by these Acts.
Karma Global does a lot of work on PF & ESI and especially under the PF act, there are a lot of chapters and sections, and sub-sections against which obligations are required to be fulfilled by employers and employees. Karma Management Global Consulting Solutions Pvt Ltd. takes care of all the obligations for the establishments as well as members of the Fund.
In this instance, the news item is related to Central Government run organizations where the interest rate for PF for the quarter is announced.
Subject: Central govt employees note! GPF and CPF interest rates for the December quarter announced;
For greater details, appended below is the complete news item
Central govt employees note! GPF and CPF interest rates for the December quarter announced;
GPF (Central Services), CPF (India), All India Services PF, State Railway PF, General PF (Defence Services), Indian Ordnance Department PF, Indian Ordnance Factories Workmen’s PF, Indian Naval Dockyard Workmen’s PF, Defence Services Officers PF, Armed Forces Personnel PF will carry a 7.1 percent interest rate from October 1 to December 31, 2022.
Central govt employees note! GPF and CPF interest rates for the December quarter announced;
Central govt employees note! GPF, CPF interest rates for Oct-Dec quarter announced;
New Delhi: Days after announcing a 4 percent hike in the Dearness Allowance of government employees, the Ministry of Finance on Monday announced the interest rate for provident fund schemes for government employees.
Keeping the rate unchanged, the ministry said that the funds shall carry a 7.1 percent interest rate for the October-December quarter.
The finance ministry revises the interest rate on GPF every quarter.