The government of the Punjab finance department issued a notification regarding GP Fund Interest Rate 2022-23 on 17th, August 2022.
Rate of mark-up on state provident fund
Rate of mark-up on state provident fund i.e. General provident fund for the fiscal year 2021-2022 is 12.40%. While the previous year’s GP fund rates were very low. I am directed to refer to this department’s letter of even number dated August 17, 2021, on the subject cited above. It has been decided that a profit rate of 12.40 % per annum shall apply during the financial year 2021-2022 to the State Provident Fund i.e. General Provident Fund. This rate, however, shall not apply in the case of subscribers who are entitled, under the rules of a particular fund, to a different rate of interest.GP Fund Interest Rate 2022-23 will apply w.e.f from 1st July 2022.
You may read also GP fund rules in Pakitan.
