GPF,CONVEYENCE ADVANCE-RATE OF INTEREST 2009-10

Amendment to Rule 33-B of GPF (CS) Rules, 1960 - Issue of Notification dated 27th May, 2009, published in the Gazette of India on 6th June, 2009 -

Interest on Sixth CPC arrears clarified

Interest on arrears of Sixth Central Pay Commission deposited by Government servants in their General Provident Fund (GPF) account has been clarified. The OM dated August 30, 2008 contained the guidelines on fixation of pay and payment of arrears apart from the instructions allowing employees to deposit the arrears in the GPF account. It was, however, not clear whether such arrears so deposited will earn interest or not.
In this connection, it is clarified that the OM dated August 30, 2008 does not specify otherwise and as such the amount of arrears deposited in the GPF account will earn interest. Such interest will be payable from the date of deposit in the GPF account. (Department of ExpenditureOMF. No. 1 / 1/ 2008 IC dated December 30, 2008)

Rate of Interest for GPF/CPF 2008-09