Government of the Punjab, Finance Department has issued Notification on 21-08-2020 in connection with Punjab Govt GP Fund Markup Rates 2019-2020. These rates are valid with effect from 1st July 2019 to 30th June 2020. The details are as under:
Punjab Govt GP Fund Markup Rates 2019-2020
The subject of the Notification is “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 12.00 % Profit rate per annum will apply during the financial year 2019-2020 to the State Provident Fund i.e. General Provident Fund. Thus rate, However, would not apply in the case of subscribers who are entitled, under the rules of a particular fund, to a different rate of interest. To the information of the employees, the Federal Government also announced the same GP Fund Interest Rates 2019-20 for the employees.
Finance Department Punjab has sent a copy of the letter to the following:
The Accountant General, Punjab, Lahore.
All Administrative Secretaries in the Punjab.
The Commissioners in the Punjab.
All Deputy Commissioners in the Punjab.
All District & Session Judges in the Punjab.
The Registrar, Lahore High Court, Lahore.
Secretary Punjab Public Service Commission, Lahore.
The Director General, Audit, Punjab, Lahore.
All District Accounts Officers in the Punjab.
The Treasury Officer, Lahore,
Special thanks to Mr. Zahid Khan for sending a copy of the Notification of Punjab Govt GP Fund Interest Rates 2019-20.
