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Date: 03-Jul-2024 Category: Extra Ordinary State: Union Government Country: India

GPF Q2 01.07.2024 to 30.09.2024

Issued by Ministry of Finance · Department of Economic Affairs

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Executive Summary & Key Takeaways

Gazette Notification Description

  • This gazette notification, issued by the Ministry of Finance (Department of Economic Affairs), announces a change in the interest rate applicable to deposits made under the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds.

Key Changes

  • The interest rate on deposits under the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds will be 7.1% (seven point one percent) from July 1, 2024, to September 30, 2024.
  • This new interest rate is effective from July 1, 2024.
  • The previous interest rate is not specified in this notification but is implied to be different from 7.1%.

Impact Analysis

Impact on Non-Government Provident, Superannuation and Gratuity Funds

  • Financial planning and projections for these funds may need to be adjusted to reflect this temporary change in interest rates.

Impact on Government

  • The decision to increase the interest rate might be a response to economic conditions or policy objectives.

Suggested Action Items

  • For all stakeholders: Stay informed about future changes to interest rates and other relevant government policies.

Key Entities Referenced

Ministry of Finance (Department of Economic Affairs): The issuing authority of the gazette notification. Responsible for overseeing economic and financial matters in the government. Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds: The scheme under which the deposits are made and affected by the interest rate change. Established by Notification No.F.16(1)-PD/75 dated 30th June, 1975. Notification No.F.16(1)-PD/75 dated 30th June, 1975: The original notification establishing the Special Deposit Scheme. This notification is referenced as the basis for the current interest rate change.
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 xxxGIDHxxx सी.जी.-डी.एल.-अ.-03072024-255119 xxxGIDExxx CG-DL-E-03072024-255119 असाधारण EXTRAORDINARY भाग I—खण्ड 1 PART I—Section 1 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 179] नई दिल्ली, बुधिार, िुलाई 3, 2024/आिाढ 12, 1946 No. 179] NEW DELHI, WEDNESDAY, JULY 3, 2024/ASHADHA 12, 1946 जित्त मत्रं ालय (आर्थकि काय िजिभाग) अजधसचू ना नई दिल्ली, 3 िुलाई, 2024 फा. स.ं 5(3)-बी(पी.डी.)/2023.— एति्द्वारा यह अजधसूजचत दकया िाता ह ै दक जित्त मंत्रालय (आर्थिक कायि जिभाग) की अजधसूचना सं. एफ. 16(1)-पी.डी./75 तारीख 30 िून, 1975 में घोजित गैर-सरकारी भजिष्य, अजधिर्ििता और उपिान जनजधयों के जलए जििेि िमा योिना के अंतगित िमा करायी गई राजियों पर 1 िुलाई, 2024 से 30 जसतंबर, 2024 तक 7.1% (सात ििमलि एक प्रजतित) ब्याि लगेगा। यह िर 1 िुलाई, 2024 से लागू होगी। आिीि िच्छानी, अपर सजचि MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 3rd July, 2024 F. No. 5(3)-B(PD)/2023.—It is hereby notified that the deposits made under the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds, announced in the Ministry of Finance (Department of Economic Affairs) Notification No.F.16(1)-PD/75 dated 30th June, 1975, shall with effect from 1st July, 2024 to 30th September, 2024 bear interest at 7.1% (seven point one percent). This rate will be in force w.e.f. 1st July, 2024. ASHISH VACHHANI, Addl. Secy. 3965 GI/2024 Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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