Last Updated on August 23, 2017 by Galaxy World
Government of Pakistan, Finance Division has issued Notification on 22-08-2017 in connection with Profit Rate Applicable to Subscriptions and Balance in Various Provident Funds 2016-17.
The rate profit on deposits on balances at the credit of the subscribes to General Provident Fund and similar other Funds for the year 2015-2016 was fixed under Finance Division`s Resolution No.F.2(1)-Reg.7/2014-433 dated 29 August, 2016 @ 11.10% per annum It has now been decide that the rate of profit application to the subscriptions and the balance in the various Provident funds during the financial year beginning on the 1st July, 2016 shall be 11.30% per annum. The Funds concerned are:-
- The General Provident Fund(G.P.F)
- The Contributory Provident Fund(C.P.F)
- Necessary instructions regarding the rate of profit application to the balance in the various Provident Funds under the control of Minister off Railways and Minister of Defend for the year in question will be issued separately by this Minister.
- Ordered that the Resolution be published in the Gazette of Pakistan.