G.O.Rt.No.2735, Dated: 16-06-2012. Rate of interest for the Financial Year 2012-13 on the accumulations on the credit of subscribers in the General Provident Fund and other similar funds until further orders

GOVERNMENT OF ANDHRA PRADESH 

ABSTRACT

 Provident  Fund  –  Rate  of  interest  for  the  Financial  Year  2012-13  on  the accumulations  on  the  credit  of  subscribers  in  the  General  Provident  Fund  and other  similar  funds  until  further  orders  –  Issued.

FINANCE (PEN.II) DEPARTMENT   

G.O.Rt.No.2735                   Dated: 16-06-2012        

 Read the following:-
1. G.O.Ms.No.703,  Finance  (Pen.II)  Dept,  dt:  19/7/2002.
2. GOI,  resolution  No.F.No.  5  (1)-B  (PD)/2009,  Ministry  of  Finance and  Company  Affairs  (Department  of  Economic  Affairs) dt:15/10/2009.
3. Cir.Memo.33285/29/A2/Pen.II/2009,  dt:2/12/2009.
4. GOI,  resolution  No.F.No.  5  (1)-B  (PD)/2011,  Ministry  of  Finance and  Company  Affairs  (Department  of  Economic  Affairs) dt:19/3/2012.
5. Dy.  Accountant  General  (Funds),  O/o  the  Principal  Accountant General  (A&E),  A.P.,  Hyderabad  FM/GI.II/9-3/2012-13/299,  dated 3-5-2012
6. G.O.Rt.No.2425,  Finance  (Pen.II)  Department  dt:  10-5-2012.
7.  GOI,  resolution  No.F.No.  5  (1)-B(PD)/2012  Ministry  of  Finance  and Company  Affairs  (Department  of  Economic  Affairs)  dt:22/5/2012.
8. Dy.  Accountant  General  (Funds),  O/o  the  Principal  Accountant General  (A&E),  A.P.,  Hyderabad  FM/GI.II/9-3/2012-13/518,  dated 28/5/2012.

                                                       -o0o-

ORDER:
 According  to  Rule  13(1)  of  General  Provident  Fund  (Andhra  Pradesh) Rules,  “Government  shall  pay  to  the  credit  of  the  account  of  a  subscriber interest  at  such  rate  as  may  be  determined  for  each  year  according  to  the method  of  calculation  prescribed  from  time  to  time  by  the  Government  of India  for  payment  of  interest  on  subscription  to  the  General  Provident  Fund in  respect  of  Central  Services”.

 2. In  the  G.O.  6th  read  above,  the  State  Government  have  adopted  the interest  rate  of  8.6%  per  annum  ordered  by  the  Government  of  India  in  the reference  4th    read  above  with  effect  from  01-12-2011  until  further  orders.

  3. In  the  reference  7th  read  above,  the  Government  of  India  through  its Resolution  No.  F.No.  5  (1)-B  (PD)/2012  GOI,  dt:28/5/2012  revised  the  rates  of interest  for  the  subscribers  of  General  Provided  Fund  (Central  Services)  for  the year  2012-13  as  follows:

                     8.8%  with  effect  from  1/4/2012.

4. The Deputy Accountant General (Funds), in his letter 8th  read above has requested to issue necessary Government orders duly revising the rates of interest  on GPF etc., maintained in the State for the year 2012-13.

 5. Government, after careful consideration of the matter, hereby enhance the rate of interest from 8.6% to 8.8% per annum w.e.f. 01-4-2012 on the following Provident Funds on par with the rates of Government of India until further orders.
     1) The General Provident Fund (Andhra Pradesh) Rules, 1935.        
     2) The Electricity Department Provident Fund Rules. 
     3) Emergency Cut and Compulsory Saving Rules, 1949. 
     4) Government Distilleries Employees Provident Fund.  
     5) Andhra Pradesh Government Life Insurance Fund.   

     6)The G.O is available on Internet and can be accessed at the address http://www.goir.ap.gov.in.

 (BY ORDER AND IN THE NAME OF THE GOVERNOR OF ANDHRA PRADESH)    

                           Dr. D.SAMBASIVA RAO                               PRINCIPAL SECRETARY TO GOVERNMENT (FP) 




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