Rate of Markup on State Provident Fund i.e. General Provident Fund for FY2019-20

“SAVE TREES PROTECT ENVIRONMENT”

NO.FD(01-249/81-82(Part-1)
GOVERNMENT OF THE PUNJAB
FINANCE DEPARTMENT
Dated Lahore August 21, 2020

The Secretary,
Government of the Punjab,
Finance Department,
Lahore.

1. The Accountant General, Punjab, Lahore.
2. All Administrative Secretaries in the Punjab.
3. All Commissioners in the Punjab.
4. All Deputy Commissioners in the Punjab.
5. All District & Session Judges in the Punjab.
6. The Registrar, Lahore High Court, Lahore.
7. The Secretary Punjab Public Service Commission, Lahore.
8. The Director General, Audit, Punjab, Lahore.
9. All District Accounts Officers in the Punjab.
10. The Treasury Officer, Lahore.

SUBJECT: RATE OF MARK-UP ON STATE PROVIDENT FUND i.e. GENERAL PROVIDENT FUND FOR THE FISCAL YEAR 2019-2020.

I am directed to refer to this department’s letter of even number dated July 31, 2019 on the subject cited above and to state that it has been decided that 12% profit rate per annum will apply during the financial year 2019-2020 to the State Provident Fund i.e. General Provident Fund. This rate, however, would not apply in the case of subscribers who are entitled, under the rules of a particular fund, to different rate of interest.

DEPUTY SECRETARY (RES-II & ADMN)
Phone No.042-99213511

NO. & DATED EVEN
A copy is forwarded to:-
1. All Heads of Autonomous/Semi Autonomous Bodies in the Punjab.
2. All Heads of Development Authorities in the Punjab.