General Provident Fund (GPF) interest rate for October-December 2023 quarter announced

economictimes.indiatimes.com:

interest rate for the General Provident Fund (GPF) and other similar provident fund initiatives.
According to the resolution released by the Department of Economic Affairs (DEA), Ministry of Finance on October 4, 2023, «It is announced fit general information that during the year 2023-2324, accumulations al the credit of subscribers to 1he General Provident Fund and oilier similar funds shall carry interest at 7.1 percent wef October 1, 2023 to December 31, 2023.»

Also read: PPF, Sukanya Samriddhi, SCSS, NSC interest rates for December 2023 quarter announced; check here

For the October -December quarter of 2023, the government has kept the interest rate on GPF and linked funds unchanged. This is expected because the interest rate of these provident funds normally follows the interest rate of the Public Provident Fund (PPF), which has remained stable during the first quarter of 2023.

1. The General Provident Fund (Central Services).
2. The Contributory Provident Fund (India).
3. The All India Services Provident Fund,
4. The State Railway Provident Fund.
5. The General Provident Fund (Defence Services)
6. The Indian Ordnance Department Provident Fund,
7. The Indian Ordnance Factories Workmen's Provident Fund.
8. The Indian Naval Dockyard Workmen's (Provident Fund.
9. The Defence Services Officers Provident Fund.
l0. The Armed Forces Personnel Provident Fund.

What is a General Provident Fund?

General Provident Funds are provident funds offered only to Indian government employees. Everyone in the government is eligible to contribute a portion of their wages to the General Provident Fund. As a result, when the employees retire, they receive the entire money accrued over their service tenure. The finance minister reviews