GPF and CPF Profit Rate 2020-21: 7.90% Per Annum
The General Provident Fund and Contributory Provident Fund profit rate for FY 2020-21 was 7.90% per annum under Finance Division's resolution dated 18 November 2021.
Overview
The General Provident Fund and Contributory Provident Fund profit rate for FY 2020-21 was 7.90% per annum under Finance Division’s resolution dated 18 November 2021.
Key Highlights
- Financial year: 2020-21 (1 July 2020 to 30 June 2021).
- GPF and CPF rate of profit: 7.90% per annum.
- Resolution reference: F.2(1)-Reg.7/2014-554 dated 18 November 2021.
- The next notified rate, for FY 2021-22, was 12.40% per annum.
- Separate instructions for provident funds under the Ministry of Railways and Ministry of Defence were issued by those Ministries.
Detailed Explanation
Finance Division Resolution No. F.2(1)-Reg.7/2014-554 dated 18 November 2021 fixed the rate of profit on subscriptions and balances in the General Provident Fund and similar funds for FY 2020-21 at 7.90% per annum. The related State Provident Fund communication listed the corresponding mark-up rate for the same fiscal year.
Key GPF and CPF Profit Rate Details
- Financial year: 2020-21 (1 July 2020 to 30 June 2021).
- GPF and CPF rate of profit: 7.90% per annum.
- Resolution reference: F.2(1)-Reg.7/2014-554 dated 18 November 2021.
- The next notified rate, for FY 2021-22, was 12.40% per annum.
- Separate instructions for provident funds under the Ministry of Railways and Ministry of Defence were issued by those Ministries.
Funds Covered and Separate Departmental Instructions
The Finance Division resolution identifies the General Provident Fund and Contributory Provident Fund. It also states that instructions for provident funds under the Ministry of Railways and Ministry of Defence are to be issued separately by those Ministries.
Frequently Asked Questions
What was the GPF profit rate for FY 2020-21?
7.90% per annum.
Which resolution set the rate?
Finance Division Resolution No. F.2(1)-Reg.7/2014-554 dated 18 November 2021.
What was the following year’s rate?
12.40% per annum for FY 2021-22.
Does it cover Railway and Defence funds?
Separate instructions for those funds were to be issued by the respective Ministries.
Related EmployeesDesk Resources
GPF and CPF Profit Rate 2021-22