In a move which will benefit crores of employees, the government has raised interest rate on contributions to GPF (General Provident Fund ) and other similar funds to 8.8% for 2012-13.
The interest rate on such funds was 8.6% during the December 2011 to March 2012 period, while it was 8% for the April to November 2011.
The Finance Ministry said in a press release, ''Tt is announced ... that during the year 2012-13, accumulations at the credit of subscribers to the GP Fund and other similar funds shall carry interest at the rate of 8.8% per annum
The interest rate on such funds was 8.6% during the December 2011 to March 2012 period, while it was 8% for the April to November 2011.
The Finance Ministry said in a press release, ''Tt is announced ... that during the year 2012-13, accumulations at the credit of subscribers to the GP Fund and other similar funds shall carry interest at the rate of 8.8% per annum
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