Government of Tamil Nadu
FINANCE [Allowances] DEPARTMENT
G.O.Ms.No.231, Dated 23rd April 2020
(Sarvari, Chithirai-10, Thiruvalluvar Aandu 2051)
Provident Fund – General Provident Fund (Tamil Nadu) – Rate of interest for the financial year 2020-2021 – With effect from 1-4-2020 to 30-6-2020 – Orders – Issued.
Read the following:-
1. G.O.Ms.No.14, Finance [Allowances] Department, dated 27-01-2020.
2. From the Government of India, Ministry of Finance, Department of Economic Affairs (Budget Division), New Delhi Resolution No.F.No.5(2)-B(PD)/2020, dated 7-4-2020.
In the Government Order first read above, orders were issued regarding fixation of the rate of interest on the accumulations at the credit of subscribers of G.P.F. [TN] at 7.9% (Seven point nine percent) for the period from 1st January, 2020 to 31st March, 2020.
2. The Government of India, in its resolution second read above, announced that during the year 2020-2021, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.1% (Seven point one percent) with effect from 1st April, 2020 to 30th June, 2020.
3. The Government now direct that the rate of interest on the accumulation at the credit of the subscribers to General Provident Fund [Tamil Nadu] shall carry interest at the rate of 7.1% (Seven point one percent) with effect from 1st April, 2020 to 30th June, 2020.
4. The rate of interest on belated final payment of Provident Fund accumulations remaining unpaid for more than three months of its becoming payable shall be at the same rate as ordered in para-3 above.
(BY ORDER OF THE GOVERNOR)
ADDITIONAL CHIEF SECRETARY TO GOVERNMENT