This notification from the Ministry of Finance announces 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 for the period from July 1, 2023, to September 30, 2023, is set at 7.1% (seven point one percent).
This rate is applicable to deposits made under the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds, as announced in Notification No.F.16(1)-PD/75 dated 30th June, 1975.
The new rate of 7.1% is effective from July 1, 2023.
Impact Analysis
Non-Government Provident, Superannuation and Gratuity Funds
Action Item: Communicate the updated interest rate to fund members or beneficiaries as necessary.
Fund Managers and Administrators
Action Item: Review and update internal policies and procedures to align with the updated interest rate.
Ministry of Finance
Action Item: Prepare for potential queries and clarifications regarding the updated interest rate.
Key Entities Referenced
Ministry of Finance (Department of Economic Affairs): The government body responsible for announcing and overseeing the Special Deposit Scheme.
Non-Government Provident Funds: These are provident funds established and managed by non-governmental organizations for the benefit of their employees.
Non-Government Superannuation Funds: These are superannuation funds established and managed by non-governmental organizations to provide retirement benefits to their employees.
Non-Government Gratuity Funds: These are gratuity funds established and managed by non-governmental organizations to provide gratuity payments to eligible employees.
Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds: A deposit scheme announced in Notification No.F.16(1)-PD/75 dated 30th June, 1975, that allows non-government funds to deposit money and earn interest.
Notification No.F.16(1)-PD/75: The original notification dated 30th June, 1975, that established the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds.
रजजस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-04072023-247007
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असाधारण
EXTRAORDINARY
भाग I—खण्ड 1
PART I—Section 1
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 168] नई ददल्ली, मगं लिार, जुलाई 4, 2023/आिाढ़ 13, 1945
No. 168] NEW DELHI, TUESDAY, JULY 4, 2023/ASHADHA 13, 1945
जित्त मत्रं ालय
(आर्थथक काय यजिभाग)
अजधसचू ना
नई ददल्ली, 4 जुलाई, 2023
फा. स.ं 5(3)-बी(पी.डी.)/2023.—एतद्द्वारा यह अजधसूजचत दकया जाता ह ै दक जित्त मंत्रालय (आर्थथक कायय जिभाग) की
अजधसूचना सं. एफ. 16(1)-पी.डी./75 तारीख 30 जून, 1975 में घोजित गैर-सरकारी भजिष्य, अजधिर्थिता और उपदान जनजधयों के
जलए जििेि जमा योजना के अंतगयत जमा करायी गई राजियों पर 1 जुलाई, 2023 से 30 जसतंबर, 2023 तक 7.1% (सात दिमलि
एक प्रजतित) ब्याज लगेगा। यह दर 1 जुलाई, 2023 से लागू होगी।
आिीि िच्छानी, अपर सजचि
MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 4th July, 2023
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, 2023 to
30th September, 2023 bear interest at 7.1% (seven point one percent). This rate will be in force w.e.f. 1st July, 2023.
ASHISH VACHHANI, Addl. Secy.
4258 GI/2023
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.