At present, the central government has reduced interest rates on small savings and PF. The impact of this reduction is now going to fall on the government employees of the Government of Gujarat. Following the decision taken by the Gujarat government, the employees of the Government of Gujarat will have a big blow. Government of Gujarat has decided to implement the reduction in the interest rate of PF by the Central Government now in the GPF. Government of Gujarat has reduced the interest rate of GFA by 0.2 percent.
Earlier, on July 1, 2017, the government ordered employees to pay 7.8 percent interest on General Provident Fund. Accordingly, interest was paid as of now, but for the employees of the state government, from January 1 to March 31, the interest rates for the state government will be 7.6 percent interest on January 1, 2018, as the finance ministry has already fixed 7.6 percent interest rate for 3 months from January 1 to 31.
