Showing posts with label GPF. Show all posts
Showing posts with label GPF. Show all posts

PROVIDENT FUND - General Provident Fund (Tamil Nadu) – Rate of interest for the financial year 2012-2013 and 2013-2014 – Orders – Issued.

GOVERNMENT OF TAMIL NADU
2013

FINANCE (ALLOWANCES) DEPARTMENT
G.O.No.127, DATED 19th April, 2013
(Chithirai 6, Vijaya, Thiruvalluvar Aandu 2044)

PROVIDENT FUND - General Provident Fund (Tamil Nadu) – Rate of interest for the financial year 2012-2013 and 2013-2014 – Orders – Issued.

Read the following:-

   (1) G.O.Ms.No.106, Finance (Allowances) Department, dated 30.3.2011.

   (2) From the Government of India, Ministry of Finance, Department of Economic Affairs, New Delhi letter No.5(1)-B(PD)/2012, dated 22.5.2012.

   (3) From the Government of India, Ministry of Finance, Department of Economic Affairs, New Delhi letter No.5(1)-B(PD)/2013, dated 8.4.2013

ORDER:

   The Government direct that the rate of interest on the accumulation at the  credit to the following Provident Funds for the financial year 2012-2013 be 8.8%  (Eight point Eight) per annum with effect from 1.4.2012 and for the financial year 2013-2014 be 8.7% (Eight point Seven) per annum with effect from 1.4.2013.

   (i) General Provident Fund (Tamil Nadu)

   (ii) Pudukottai State Provident Fund

   (iii) Travancore State Provident Fund

   (iv) Travancore Contingent Employees Provident Fund

   2. The rate of interest on belated final payment of Provident Fund accumulations remaining unpaid for more than three months of its becoming payable shall be at the same rates as indicated in para 1 above.

(BY ORDER OF THE GOVERNOR)

K. SHANMUGAM
PRINCIPAL SECRETARY TO GOVERNMENT

Source:http://www.tn.gov.in/gosdb/gorders/finance/fin_e_127_2013.pdf

GENERAL PROVIDENT FUND – Withdrawal from the General Provident Fund – Maximum limit – Amendments Rules – Issued – Notified.

GOVERNMENT OF TAMIL NADU
2013

FINANCE (ALLOWANCES) DEPARTMENT
G.O.No.103, DATED 1st April, 2013
(Panguni 19, Nandhana, Thiruvalluvar Aandu 2044)

GENERAL PROVIDENT FUND – Withdrawal from the General Provident Fund – Maximum limit – Amendments to rule 15-B of General Provident Fund (Tamil Nadu) Rules – Issued – Notified.

Read the following:-

   1. G.O.Ms.No.33, Finance (Allowances) Department, dated 21.01.1992.

   2. G.O.Ms.No.381, Finance (Allowances) Department, dated 30.09.2010.

   3. From the Accountant General Letter No.Pr.AG (A&E) / FMI / I / 2012-13 / 145468 / 141, dated 26.10.2012.

ORDER:

   The following Notification will be published in the Tamil Nadu Government Gazette.

NOTIFICATION

   In exercise of the powers conferred by the proviso to Article 309 of the Constitution of India and of all other powers hereunto enabling the Governor of Tamil Nadu hereby makes the following amendment to the General Provident Fund (Tamil Nadu) Rules.

AMENDMENTS

   In the said Rules, in rule 15-B, in sub-rule (1), for the provisos, the following provisos shall be substituted, namely:-

   “Provided that in no case the maximum amount of withdrawal for the purposes specified in clauses (a), (b), (c) and (h) of rule 15-A shall exceed Rs.5,00,000/- (Rupees five lakh only) or 75 times of the monthly pay, whichever is less:

   Provided further, that in no case the maximum amount of withdrawal for the purposes specified in clauses (d), (e), (f) and (g) of rule 15-A shall exceed Rs.9,00,000/- (Rupees nine lakh only) or 75 times of the monthly pay whichever is less:

   Provided also that in the case of a subscriber who has availed himself of an advance under the Scheme for the grant of advances for house building purpose, sponsored by the State or the Central Government or the Public or Private Financial Institutions, the sum withdrawn under this sub-rule together with the amount of advance taken under the afore-said Scheme or the assistance taken from the above said sources shall not exceed Rs. 25,00,000/- (Rupees twenty five lakh only).”

(BY ORDER OF THE GOVERNOR)

K. SHANMUGAM
PRINCIPAL SECRETARY TO GOVERNMENT

Source:http://www.tn.gov.in/gosdb/gorders/finance/fin_e_103_2013.pdf

NPS performed better that GPF in the last year.

   The three NPS managers handling the pension funds of Central and state government employees have delivered average returns of 9.33% in the past one year, outperforming the state-run government provident fund (GPF), employees provident fund (EPF) and the public provident fund (PPF). The three-year annualised returns are also quite decent at 8.47%, though not as spectacular as in the past one year.

   More than 16 lakh central and state government employees have almost Rs 8,500 crore invested in the NPS. This money is managed by three pension fund managers - SBI Pension Funds, LIC Pension Fund and UTI Retirement Solutions. Each of the three funds manages roughly one-third of the NPS corpus.

   Though three years is a very short time to judge long-term instruments such as pension funds, the impressive performance is likely to silence the criticism that NPS is not allocating enough to growth assets. Central and state government NPS funds can invest a maximum of 15% in equities. Even in NPS for the general public, where investors can choose their own asset allocation, a maximum of 50% can be put in equities.

GPF and SDS Interest Rates Revised for the Financial Year 2012-13.

   Government of India has revised the Interest Rates for the financial year 2012-13 in respect of State PFs (GPF) and Special Deposit Schemes (SDS) for non-government Provident, Superannuation and Gratuity funds (SDS), 1975, from 8.6% to 8.8%  with effect from 01.04.2012. The funds concerned are:-
 
1. The General Provident Fund (Central Services).

2. The Contributory Provident Fund (India).

3. The All India Services Provident Fund.

4. The State Railway Provident Fund.

5. The General Provident Fund (Defence Services).

6. The Indian Ordnance Department Provident Fund.

7. The Indian Ordnance Factories Workmen’s Provident Fund.

8. The Indian Naval Dockyard Workmen’s Provident Fund.

9. The Defence Services Officers Provident Fund.

10. The Armed Forces Personnel Provident Fund.

PIB

Rate of Interest on GPF (West Bengal)

Government of West Bengal
Finance Department
Audit Branch

No. 2908-F( J)

Date : 09/04/2012

RESOLUTION

   The Governor is pleased to decide that during the year 2011-12, accumulations at the credit of the subscribers to the General Provident Fund and other similar funds under the administrative control of the Govt. of West Bengal shall carry interest at the rate of 8% (eight per cent) for the period from 1.4.2011 to 30.11.2011 and 8.6% (eight point six per cent) w.e.f. 01.12.2011. The funds concerned are:-

(i) General Provident Fund (West Bengal Service)
(ii) Contributory Provident Fund ( West Bengal)
(iii) Provident Fund maintained under the West Bengal Non-Govt. Educational Institutions and Local authorities (CPFE) Act, 1983.
(iv) Any other Provident Fund maintained in the state Accounts with approval of this Govt.

   2. Ordered that the resolution be forwarded to all Departments of the Govt. of West Bengal and published in Kolkata Gazette.

By order of the Governor,

Sd/-
P.N. Sammader
Joint Secretary to the
Government of West Bengal
Finance Department

Source:http://www.wbfin.nic.in/writereaddata/Interest%20rate%20on%20PF%20order%20No%5B1%5D.2908-F(J).pdf

Resolution - accumulations at the credit of subscribers to the GPF and other similar funds - 2011-2012.

(PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA)
F.NO. 5(1)-B(PD)/2011
Government of India
Ministry of Finance
(Department of Economic Affairs)

New Delhi, the 19th March, 2012

RESOLUTION

   It is announced for general information that during the year 2011 2012, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 8% (Eight per cent) for the period from 1.4.2011 to 30.11.2011 and 8.6% (eight point six percent) with effect from 1.12.2011.  The funds concerned are:—

1. The General Provident Fund (Central Services).
2. The Contributory Provident Fund (India).
3. The All India Services Provident Fund.
4. The State Railway Provident Fund.
5. The General Provident Fund (Defence Services).
6. The Indian Ordnance Department Provident Fund.
7. The Indian Ordnance Factories Workmen’s Provident Fund.
8. The Indian Naval Dockyard Workmen’s Provident Fund.
9. The Defence Services Officers Provident Fund.
10. The Armed Forces Personnel Provident Fund.

   2. Ordered that the Resolution be published in Gazette of India.

sd/-
(Brajendra Navnit)
Deputy Secretary (Budget)

Source:http://finmin.nic.in/the_ministry/dept_eco_affairs/budget/resolution11.pdf