Excelsior Correspondent
JAMMU, Apr 28: The Government today said that the balance in subscribers’ General Provident Fund (GPF) accounts will accrue interest at a rate of 7.1% for the first quarter of the financial year 2023-24, which runs from April 1st, 2023 to June 30th, 2023.
An order issued in this context read, “it is hereby ordered that the accumulations at the credit of subscribers to General Provident Fund (GPF) shall carry interest at the rate of 7.1% for the first quarter of the financial year 2023-24 i.e. April 1st, 2023 to June, 2023.
The General Provident Fund scheme is a popular investment option for Government employees and public sector workers, as it provides a guaranteed return on investment. The interest rate on the scheme is revised on a quarterly basis, based on prevailing market conditions.
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