Change of rate of General Provident Fund Subscriptions

Memorandum of Change of rate General Provident Fund (GPF) Subscriptions, General Provident Fund (GPF) of the Government of West Bengal shall carry interest at the rate of 7.9 % (Seven point nine percent) per annum during the period from 01.01.2020 to 31.03.2020 vide No. 464-F(J)-WB dated 22nd. January, 2020.
  • Ceiling of Rs.5 Lakh on subscription in General Provident Fund (West Bengal Services) in a financial year, download Memorandum 2023.
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Memorandum of Change of rate GPF Subscriptions

The Joint Secretary, Finance Department (Audit), West Bengal
No. 8912-F(J)   Date: 01.11.2012 

MEMORANDUM
Download Memorandum (Click here)
The undersigned is directed to say that in terms of Finance Department Memo No 1969-F dated 24.02.1989, the amount of subscription to the General Provident Fund once fixed by the subscriber can not be change during the course of a financial year. But it is observed in the last 5-years that a good number of subscribers are changing their amounts of subscriptions during the course of a financial year due to ignorance or some other reasons resulting in a part of the subscription being treated as unauthorized and that portion of the subscription earns no interest through out the service carrier of the subscriber.

 After careful consideration of the matter the Governor is pleased to decide that the amount of subscription may be

 (a) Enhance twice at any time during the course of the financial year.
(b) Reduced once at any time during the course of the financial year or
(c) Enhance and reduced as aforesaid

 Provided that when the amount of subscription is so enhanced / reduced, it shall be within the limit of minimum 6% and maximum 100% of the emolument of the subscriber.

 The above decisions will come into force from the next financial year i.e 2013-2014 and the relevant provision of the General Provident Fund (WBS) Rules will be amended in due course.
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Ceiling of GPF Subscription Rules 2023

Ceiling of Rs.5 Lakh on subscription in General Provident Fund (West Bengal Services) in a financial year, download Memorandum 2023.

Ceiling of GPF-2023 (Click here)
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General Provident Fund (GPF) Interest at the rate 7.9 %

The Deputy Secretary, Finance Department (Audit Branch), West Bengal
No. 464-F(J)-WB  Date: Kolkata, the 22th January, 2020

Resolution 
The Governor is pleased to decide that during the period from 01.01.2020 to 31.03.2020, accumulation at the credit of the subscribers to General Provident Fund and other similar funds under the administrative control of the Government of West Bengal shall carry interest at the rate of 7.9 % (Seven point nine percent) per annum. The rate will be in force during this financial year for the period from 01.01.2020 to 31.03.2020. The funds concerned are-

(i) General Provident Fund (West Bengal Service)

(ii) Contributory Provident Fund (West Bengal)

(iii) Provident Funds maintained under the West Bengal Non-Government Educational Institutions and Local Authorities (CPFE), Act 1983.

(iv) Any other Provident Fund maintained under State Account with the approval of this Government.

2. Ordered that the resolution be forwarded to all Department of the Government of West Bengal and published in Kolkata Gazette.

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  General Provident Fund (GPF) Interest at the rate 7.9 %