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Finance Ministry Cuts Markup Rate on Provident Fund for Govt Employees

The Finance Ministry has notified that the rate of markup on state provident fund, i.e. general provident fund for the fiscal year 2023-24 is 13.97 percent.

The notification issued by the Finance Division stated that the rate of markup on state provident fund i.e. general provident (GP fund) for the fiscal year 2023-24 is 13.9722 percent.

The rate for 2021-22 was 12.40 percent and for 2022-23 it was 14.22 percent, the notification noted.

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