Wednesday, 17 July 2019

Learn how millions of government employees will be hit News Report

Learn how millions of government employees will be hit News Report
Under this fund, the PF gets deposited to the designated employees before December 31, 2003 or earlier. For other funds, interest rates, State Railway Provident Fund, General Provident Fund, Indian Ordnance Dept. Provident Fund, Indian Ordinance Factory Workmen's Provident Fund, Indian Naval Doctor Workmen's Provident Fund, Defense Services Officers Provident Fund and Amended Forces Personal Providence Fund .

Earlier, the interest rate change of the GFF was made in October 2018, while the interest rate increased by 0.4% to 8%. Last month, the government reduced the interest rate on small savings schemes, such as Public Provident Fund, National Savings Certification, to 0.1 percent.

The interest rate on the NNC and PPF was 7.9% and the interest rate on Kisan Development Paper was 7.6 percent. In March 2017, the government had simplified the regulation of GFF, after which the people linked to it could get payment within 15 days. After the completion of 10 years of employee's employment, some special requirements can be withdrawn by a JFF, before it happens only after 15 years.

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