Rates of Profit @ 13.97% Applicable on Subscriptions / Balances• Galaxy World

Government of Pakistan Finance Division issued a Notification on 01-10-2024 concerning Rates of Profit @ 13.97% Applicable on Subscriptions and Balances 2023-24. The details are as follows:

Rates of Profit @ 13.97% Applicable on Subscriptions and Balances 2023-24

The rate of profit on deposit and balances at the credit of the subscribers to the General Provident Fund. These also include similar other Funds for 2022-23 fixed under the Finance Division’s Resolution No.F.2(1)-Reg. 7/2014-223 dated 19^th July 2023 @ 14.22% per annum. The Finance Division decided that the rate of profit applies to the subscriptions and the balances of the various providers. Funds during the financial year beginning on the 1^st of July, 2023, shall be 13.97% per annum. The Funds concerned are:-

List of Funds

(1) The General Provident Fund (G.P.F)

(2) The Contributory Provident Fund (C.P.F)

These Ministries will issue necessary instructions regarding the rate of profit applicable to the balances in the various Provident Funds under the control of the Ministry of Railways and Ministry of Defence for the year in question.
it has been ordered that the Resolution be published in the Gazette of Pakistan.

The Finance Division Government of Pakistan has already issued the Notification of GP Fund Interest Rates 2023-24 for Federal Government employees. The Finance Division declared mark-up rates @ 14.22% for the fiscal year 2023-2024. These rates are lower than in the previous fiscal year.