ESIC revises the rate of interest of General Provident Fund accumulations

Aug 14, 2019 | by Avantis RegTech Legal Research Team

The Employees’ State Insurance Corporation (ESIC) on August 13, 2019, with the approval of the Competent Authority, has revised the interest rate in General Provident Fund (GPF) accumulations at 7.9% (Seven point nine percent) for the period from July 01, 2019 to September 30, 2019.

It is further explained that if the GPF interest is calculated and paid in excess of the above mentioned rate of interest, including any final payment authority issued or interest credited in the account of any subscriber shall be revised accordingly and the excess payment made shall be recovered.


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