The Punjab Government – Finance Department has issued Notification on 21 August,2020 in meeting with Punjab Govt. GP-Fund Markup Rates 2019-2020. GP Fund rates valid from 1st of July 2019 till 30th of June 2020.
The Notification is about Rate Of Mark-up on State Provident Fund. I’m directed to refer this Notification to Department letter of even number July 31, 2019, on the subject cited above and to state that it has been decided that 12% Profit / Benefit rate per annum will apply during the financial year 2019-2020 to the State Provident Fund i.e. General Provident Fund. Thus rate, However, would not apply in the case of subscribers who are entitled, under the rules of a particular fund, to a different rate of interest. To the information of the employees, the Federal Government also announced the same GP Fund Interest Rates 2019-20 for the employees.
Finance Department of Punjab has sent a copy of the letter to the following departments:
- The Accountant General, Punjab, Lahore.
- All Administrative Secretaries in Punjab.
- The Commissioners in Punjab.
- All Deputy Commissioners in Punjab.
- All-District & Session Judges in Punjab.
- The Registrar, Lahore High Court, Lahore.
- Secretary Punjab Public Service Commission, Lahore.
- The Director-General, Audit, Punjab, Lahore.
- All District Accounts Officers in Punjab.
- The Treasury Officer, Lahore.