New Interest rate on GP and CP Fund applicable on two Ministries in Pakistan

New Interest rate on GP and CP Fund applicable on two Ministries in Pakistan




Government of Pakistan
Finance Division
(Regulations Wing)
No.F.2 (1)-Reg.72014-410       Islamabad, the 24th August, 2020
RESOLUTION
The rate of profit on deposits and on balances at the credit of the subscribers to the General Provident Fund and similar other Funds for the year 2018-2019 was fixed under Finance Division’s Resolution No.F.2(1)-Reg.712014-674 dated 31th July, 2019 @ 14.35% per annum. It has now been decided that the rate of profit applicable to the subscriptions and the balances in the various Provident Funds during the financial year beginning on the 1st July, 2019 shall be 12.00% per annum. The Funds concerned are:-
(1) The General Provident Fund (G.P.F)
(2) The Contributory Provident Fund (C.P.F)
2. Necessary instructions regarding the rate of profit applicable to the balances in the various Provident Funds under the control of Ministry of Railways and Ministry of Defence for the year in question will be issued separately by these Ministries.
3. It has been ordered that the Resolution be published in the Gazette of Pakistan.
(Muhammad Shahid Ahmed Ch.)
Deputy Secretary (R-III)
 
The Manager,
Printing Corporation of Pakistan Press, University Road, Karachi-5