New Markup Rate for State Provident Fund Set at 13.97% for Punjab Government Employees for 2023-2024-Notification

NO.FD(L)1-249/81-82(Part-I)
GOVERNMENT OF THE PUNJAB
FINANCE DEPARTMENT

Dated Lahore September 04, 2024

1. The Accountant General, Punjab, Lahore
2. All Administrative Secretaries in the Punjab
3. All Commissioners in the Punjab
4. All Deputy Commissioners in the Punjab
5. All District & Sessions Judges in the Punjab
6. The Registrar, Lahore High Court, Lahore
7. The Secretary Punjab Public Service Commission, Lahore
8. The Director General, Audit, Punjab, Lahore
9. All District Accounts Officers in the Punjab
10. The Treasury Officer, Lahore

SUBJECT: RATE OF MARK-UP ON STATE PROVIDENT FUND i.e. GENERAL PROVIDENT FUND FOR THE FISCAL YEAR 2023-2024

I am directed to refer to this department’s letter of even number dated July 11, 2023 on the subject cited above and to state that it has been decided that a profit rate of 13.97% per annum shall apply during the financial year 2023-2024 to the State Provident Fund i.e. General Provident Fund. This rate, however, shall not apply in the case of subscribers who are entitled, under the rules of a particular fund, to a different rate of interest.

DEPUTY SECRETARY (RES & ADMN)