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.
The interest rate is applicable for the period from January 1, 2023, to March 31, 2023.
Key Changes
The interest rate for deposits under the Special Deposit Scheme is set at 7.1% (seven point one percent) per annum.
This rate is effective from January 1, 2023, and will remain in force until March 31, 2023.
The Special Deposit Scheme was originally announced in Notification No. F.16(1)-PD/75 dated 30th June, 1975.
Impact Analysis
Impact on Non-Government Provident, Superannuation and Gratuity Funds
Action Item: Fund managers should take note of this rate when calculating returns and managing their investment portfolios.
Impact on Employees/Beneficiaries
Action Item: Communicate the applicable interest rate to employees/beneficiaries to ensure transparency.
Impact on Ministry of Finance
Action Item: Monitor the performance of the scheme and make necessary adjustments to the interest rate in future notifications based on market conditions.
Key Entities Referenced
Non-Government Provident Funds: Provident funds that are not managed by the government.
Superannuation Funds: Funds set aside to provide pension benefits to employees upon retirement.
Gratuity Funds: Funds established to pay gratuity benefits to employees upon their leaving the organization.
Ministry of Finance (Department of Economic Affairs): The government body responsible for announcing the interest rate for the Special Deposit Scheme.
Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds: A deposit scheme for non-government provident, superannuation, and gratuity funds, established via Notification No. F.16(1)-PD/75 dated 30th June, 1975.
Notification No. F.16(1)-PD/75: The original notification dated 30th June, 1975, that announced the Special Deposit Scheme.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-05012023-241682
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असाधारण
EXTRAORDINARY
भाग I—खण्ड 1
PART I—Section 1
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 2] नई दिल्ली, बहृ स्ट्प जतिार, िनिरी 5, 2023/पौि 15, 1944
No. 2] NEW DELHI, THURSDAY, JANUARY 5, 2023/PAUSHA 15, 1944
जित्त ं्ं ाल
(आर्थकि का िजिभाग)
अजधसचू ना
नई दिल्ली, 3 िनिरी, 2023
फा.स.ं 5(4)-बी(पी.डी.)/2021.—एतिद्वारा ह अजधसूजचत दक ा िाता ह ै दक जित्त ं्ं ाल (आर्थिक का ि
जिभाग) की अजधसूचना स.ं एफ. 16(1)-पी.डी./75 तारीख 30 िून, 1975 ं ें घोजित गरै -सरकारी भजिष् , अजधिर्ििता
और उपिान जनजध ों के जलए जििेि िंा ोिना के अंतगति िंा करा ी गई राजि ों पर 1 िनिरी, 2023 स े 31 ंाच,ि
2023 तक 7.1% (सात ििंलि एक प्रजतित) ब् ाि लगगे ा। ह िर 1 िनिरी, 2023 स ेलाग ू होगी।
आिीि िच्छानी, अपर सजचि
MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 3rd January, 2023
F. No. 5(4)-B(PD)/2021.—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
61 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC.1]
with effect from 1st January, 2023 to 31st March, 2023 bear interest at 7.1% (seven point one percent).
This rate will be in force w.e.f. 1st January, 2023.
ASHISH VACHHANI, Addl. Secy.
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.