Last Updated on October 30, 2021 by Galaxy World
Government of the Punjab, Finance Department has issued a Notification on 17-08-2021 in connection with the GP Fund Interest Rates 2020-2021 Punjab. These mark-up rates on GP Fund are the same as Federal Government Announced on 12th August 2021. The details are as under:
GP Fund Interest Rates 2020-2021 Punjab
I am directed to refer to this department’s letter of en number dated august 21, 2021 on the subject cited above and to state that it has been decided that a profit rate of 07.90% per annum shall apply during the financial year 2020-2021 to the State Provident Fund i.e. General Fund. This rate, however, shall not apply in the case of subscribers who are entitled, under the rules of a particular fund, to a different rate of interest.
The Punjab Government also announced the same rates as the Federal Government announced for the year 2020-21. The employees will get the mark-up on their General Provident Fund @ 7.9% for the year 2020-21. This duration starts from 1st July 2020 to 30th June 2021. Amount the Employees deducted from GP fund later than 30th June 2021 will be calculated next year.
The Federal Government has also issued Notification of GP Fund Interest Rates 2020-21 for FG Employees. Notifications of other provinces, concerned provinces will also issue soon. As soon as I get the same, I shall share.