The Governor of West Bengal has announced that the GPF interest rate and rates for similar provident funds will be 7.1% per annum for the first quarter of the financial year 2024, specifically from April 1, 2024, to June 30, 2024.
Overview
| Aspect | Details |
|---|---|
| Interest Rate | 7.1% per annum |
| Effective Period | 01.04.2024 to 30.06.2024 |
| Financial Year | 2024 |
| Applicability | Specified period during FY 2024 |
| Applicable Funds | – General Provident Fund (West Bengal Service) – Contributory Provident Fund (West Bengal) – Provident Funds under West Bengal Non-Government Educational Institutions and Local Authorities (CPFE) Act, 1983 – Other Provident Funds approved by the Government of West Bengal |
| Administrative Directive | Resolution to be forwarded to all Government Departments of West Bengal |
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Notification on GPF Interest Rate for Q1 2024
GPF Interest Rate Details
- Interest Rate: 7.1% per annum
- Time Period: 01.04.2024 to 30.06.2024
- Applicability: This rate will be in force for the specified period during the financial year 2024.
Applicable Funds
- General Provident Fund (West Bengal Service)
- Contributory Provident Fund (West Bengal)
- Provident Funds under West Bengal Non-Government Educational Institutions and Local Authorities (CPFE) Act, 1983
- Other Provident Funds: Any other Provident Fund maintained under State Account with the approval of the Government of West Bengal.
Administrative Instructions
- The resolution is ordered to be forwarded to all Departments of the Government of West Bengal for necessary action.
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Official Order
GOVERNMENT OF WEST BENGAL
FINANCE DEPARTMENT
Group-J
Writers’ Buildings, Kolkata
No.067-F(J) ———————————————————————Dated: Kolkata, the 14th lune,2024
RESOLUTION
The Governor is pleased to decide that during the period from 01.04,2024 to 30.06.2024, accumulation at the credit of the subscribers to General Provident Fund and other similar funds under the administrative control of the Government of West Bengal shall carry interest at the rate of 7.1% (Seven point one percent) per annum. The rate will be in force during this financial year for the period from 01.04.2024 to 30.06.2024. The funds concerned are:-
i. General Provident Fund (West Bengal Service).
ii. Contributory Provident Fund (West Bengal).
iii. Provident Funds maintained under the West Bengal Non-Government Educational lnstitutions and Local Authorities (CPFE) Act, 1983.
iv. Any other Provident Fund maintained under State Account with the approval of this Government
ordered that the resolution be forwarded to all Departments of the Government of West Bengal.
By order of the Governor
SD/-
Joint Secretary to the
Government of West Bengal
Official Order: Click Here
Frequently Asked Questions
What is the GPF interest rate for the period from April 1, 2024, to June 30, 2024?
- The GPF interest rate for this period is 7.1% per annum.
What is the effective period for the newly announced GPF interest rate?
- The effective period is from April 1, 2024, to June 30, 2024.
Is the 7.1% interest rate applicable to Provident Funds maintained under the West Bengal Non-Government Educational Institutions and Local Authorities (CPFE) Act, 1983?
- Yes, the 7.1% interest rate is applicable to these Provident Funds.
Does the interest rate of 7.1% apply to any other Provident Fund maintained with State Account approval?
- Yes, it applies to any other Provident Fund maintained under State Account with the approval of the Government of West Bengal.
Also Read: 10% Increase in Dearness Allowance for Teachers/Non-Teachers in West Bengal