A notification of Revised Rates of Profit on GP Fund and CP Fund wef 01-07-2021 has been issued.This notification is issued by Finance Division of Pakistan.Further detail of said notification in same is as under;
Revised Rates of Profit on GP Fund and CP Fund wef 01-07-2021
The rate of profit on deposits and on balances at the credit of the subscribers to the General Provident Fund and similar other Funds for the year 2020-21 was fixed under Finance Division’s Resolution No.F.2(1)-Reg.7/2014-554 dated 18th November, 2021 @ 07.90% per annum. It has now been decided that the rate of profit applicable to the subscriptions and the balances in the various Provident Funds during the financial year beginning on the Ist July, 2021 shall be 12.40% per annum.
These are the concerned Funds:
- The General Provider Fund (G.P.F)
- The Contributory Provident Fund (C.P.F)
2. Necessary instructions regarding the rate of profit applicable to the balances in the various Provident Funds under the control of Ministry of Railways and Ministry of Defence for the year in question will be issued separately by these Ministries.W It has been ordered that the Resolution be published in the Gazette of Pakistan.