7th Pay Commission: There is big news for central government employees. The government has made major changes in the rules related to retirement funds. According to the information received from the government, a major change has been made in the rules of the General Provident Fund. If there is a government employee in your house too, then there is important news for all of them.
Let us tell you that the maximum limit of PF
Now the government has decided to invest in GPF. The investment limit in Provident Fund has been fixed. After this government decision, government employees can deposit only up to Rs 5 lakh in GPF.
What is GPF?
According to the information received from the government, this limit has been set for one financial year. GPF is a kind of voluntary scheme. Government sector employees invest in this scheme. In this, the benefit of 7.1 percent interest (GPF interest rate) is available on investment.
Let us
Let us tell you that government employees can deposit a part of their salary in the General Provident Fund, which is returned to the account holders at the time of retirement. Interest is earned on the money deposited in GPF.
How much interest do you get?
Government employees can contribute up to 15 percent of their salary. The advance fee of this account is the most special. Employees can withdraw certain amounts from their accounts as and when required. There is no tax on this amount and the government has fixed the interest amount at 7.1 percent.
Read More: Provident Fund Interest Will the employees have to bear the loss on the interest of PF?
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