The Tamil Nadu Finance (Allowances) Department has announced an update on the interest rates for the General Provident Fund (GPF) for the financial year 2024-2025. According to recent government orders, the interest rate for GPF accumulations will be set at 7.1% for the period from July 1, 2024, to September 30, 2024. This rate aligns with the announcement made by the Government of India for similar funds. This notification was published on 06/08/2024.
Previously, for the quarter from January 1, 2024, to March 31, 2024, the interest rate was also 7.1%. The same rate of 7.1% will apply to any belated payments of Provident Fund accumulations that remain unpaid for more than three months after they become due.
