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.