The government has retained the interest rate for General Provident Fund (GPF), Contributory Provident Fund and other related schemes at ..... for the first quarter of the current financial year.

2023

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The government has retained the interest rate for General Provident Fund (GPF), Contributory Provident Fund and other related schemes at ____ for the first quarter of the current financial year.

A	6.8%
B	8%
C	7.8%
D	7%
E	8.4%

Explanation:

Detailed explanation-1: -The ministry has retained the interest rate, i.e., it has kept rates for GPF and similar funds unchanged for the January-March of 2023.

Detailed explanation-2: -The Ministry of Finance has kept the interest rate of GPF or General Provident Fund unchanged at 7.1% for the January-March quarter of 2023.

Detailed explanation-3: -It is announced for general information that during the year 2022-2023, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall Carry ‘interest at the rate of 7.1% (Seven point one percent) w.e.f. 1st January, 2023 to 31st March, 2023.

Detailed explanation-4: -sum, so expressed, not less than 8 per cent, of his emoluments and not more than his total emoluments. (c) When a Government servant elects to subscribe at the minimum rate of 6 per cent, or 8 per cent, as the case may be, the fraction of a rupee will be rounded to the nearest whole rupee, 50 p.

Detailed explanation-5: -GPF Interest Rate from January 2023-GPF Interest Rate stands at 7.1% from 01st January 2023-31st March 2023. General Provident Fund (GPF) and other similar funds shall carry interest at the rate of 7.1% (Seven point one percent) w.e.f. 1st January, 2023 to 31st March, 2023.

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