Govt climbs General Provident Fund financing cost 8 percent: The legislature has expanded the rate of enthusiasm for General Provident Fund (GPF) and other related plans by 0.4 rate focuses to 8 percent for the October-December quarter.
Govt climbs General Provident Fund financing cost 8 percent –
The rate is in accordance with that for Public Provident Fund.
The financing cost on GPF was 7.6 percent for the July-September quarter of 2018-19.
“… Amid the year 2018-2019, collections at the credit of supporters of the General Provident Fund and other comparative assets will convey enthusiasm at the rate of 8 percent with impact from October 1, 2018, to December 31, 2018,” a Department of Economic Affairs’ notice said.
The loan fee would apply on Provident Funds of focal government workers, railroads and resistance powers.
A month ago, the administration reported that the enthusiasm on little reserve funds, including NSC and PPF, will be climbed by up to 0.4 rate point for the October–December quarter, to adjust it to rising store rates in the banks.