In a move which will hurt millions of employees, the government has reduced interest rate on contributions to General Provident Fund (GPF) and other similar funds to 8% from October 1 to December 31 for fiscal 2016-17. The interest rate on such funds was 8.1% from April, 2016, while it was at 8.7 per cent for the previous fiscal.
In a move which will hurt millions of employees, the government has reduced interest rate on contributions to General Provident Fund (GPF) and other similar funds to 8% from October 1 to December 31 for fiscal 2016-17.
ReplyDeleteThe interest rate on such funds was 8.1% from April, 2016, while it was at 8.7 per cent for the previous fiscal.