No. TA-3-07001/7/2021-TA-III-Part(1)/cs8084/70

Ministry of Finance
Department of Expenditure
Office of Controller General of Accounts

Mahalekha Niyantrak Bhawan
E-Block, GPO Complex, INA,
New Delhi
Dated: 25.02.2022

Office Memorandum

Subject: Calculation of taxable interest relating to contribution in a provident fund, exceeding specified limit w.e.f F.Y 2021-22 -reg.

In pursuance of the notification issued by Department of Revenue (CBDT) dated 31st August, 2021, the interest relating to contribution in a provident fund or recognized provided fund, exceeding specified limit of Rs. five lakh in case of employee where GPF is applicable shall be part of taxable income of the subscriber w.ef. Financial year 2021-22 onwards.

2. In view of the aforesaid decision, the respective GPF ledger folio maintained as per CAM-47 & the Annual GPF statement in form CAM-49 respectively with required changes to this effect needs to prepare by PAOs in respective nodal offices in the revised format enclosed with retrospective effect from 01.04.2021 onwards. The same are also made available to ITD for development in PFMS. The necessary amendments in chapter 6 of the Civil Account Manual (CAM) will be issued separately.

3. All the Pr.CCAs/CCAs/CAS(IC) in the Ministries/Departments are required to instruct nodal offices under their control to prepare GPF ledger & Annual statement to be issued to subscribers in the format enclosed.

Encl: As above.

(Ashish Kumar Singh)
Dy. Controller General of Accounts

To,

All Pr. CCAs/CCAs/CAs (IC) of the Ministries/ Deptts. concerned.

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GPF Interest Rate 2019

(PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA)

F.NO. 5(2)-B(PD)/ 2019
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

New Delhi, the 21st October, 2019

RESOLUTION

It is announced for general information that during the year 2019-2020, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.9% (Seven point nine percent) w.e.f. 1st October, 2019 to 31st December. This rate will be in force w.e.f.1st October, 2019. The funds concerned are:

Also check: General Provident Fund interest at the rate of 8% from 1st April 2019 to 30th June 2019 – DEA Resolution

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.

Ordered that the Resolution be published in Gazette of India

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(PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA)
F.NO. 5(2)-B(PD)/2019
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

New Delhi, the 3rd April, 2019

RESOLUTION

It is announced for general information that during the year 2019-2020, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 8% (Eight percent) w.e.f. 1st April, 2019 to 30th June, 2019. This rate will be in force w.e.f. 1st April, 2019. The funds concerned are:

The General Provident Fund (Central Services). The Contributory Provident Fund (India). The All India Services Provident Fund. The State Railway Provident Fund. The General Provident Fund (Defence Services). The Indian Ordnance Department Provident Fund. The Indian Ordnance Factories Workmen’s Provident Fund. The Indian Naval Dockyard Workmen’s Provident Fund. The Defence Services Officers Provident Fund. The Armed Forces Personnel Provident Fund.

Ordered that the Resolution be published in Gazette of India.

sd/-
(Akhilesh Kumar Mishra)
Director (Budget)

To,
The Manager, (Technical Branch)
Government of India Press, Mayapuri, Delhi.

F.No.5(2)-B(PD)/2019

Copy forwarded to all Ministries/Departments of Government of India, President’s Secretariat, Vice-President’s Secretariat, Prime Minister’s Office, Lok Sabha Secretariat, Rajya Sabha Secretariat, Cabinet Secretariat, Union Public Service Commission, Supreme Court, Election Commission and NITI Aayog.

Source: dea.gov.in

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Government of India
Ministry of Finance
(Department of Economic Affairs)

New Delhi, the 4th March, 2014

RESOLUTION

It is announced for general information that during the year 2014-2015, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 8.7% (Eight point seven per cent) per annum. This rate will be in force during the financial year beginning on 1.4.2014. 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/-
(Peeyush Kumar)
Director (Budget)

Source: www.finmin.nic.in
[http://finmin.nic.in/the_ministry/dept_eco_affairs/budge/resolution14.pdf]

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