The Union government has announced that the General Provident Fund (GPF) interest rate will remain at 7.1% for the October-December quarter of the fiscal year 2023-24. This rate has been consistent over the past few quarters. The GPF is a social security scheme designed for central government employees, where they contribute a portion of their salary.
The accumulated fund can be withdrawn as needed. This rate also applies to similar provident funds such as the General PF (Central Services) and Contributory PF (India). The interest rate for the GPF is reviewed and adjusted by the government every quarter, ensuring financial stability for employees.