Increment in federal employees’ provident fund rate approved

ISLAMABAD — The federal government has given the green light to an increase in the profit rate for the provident fund for federal employees.
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According to the Ministry of Finance, the profit rate of the GP Fund, which was 12.40% for the fiscal year 2021–2022 has now been raised to 14.22% for the following fiscal year.
The Controller General of Accounts has been informed in a letter by the Ministry of Finance about the development.
It is worth mentioning here that Federal govt had already announced increase in pension in Finance Bill 2023-24.
Finance Minister in his budget speech in National Assembly announced 17.5% increase in pension of the retired government employees.
Also the federal government has approved whooping increase in salaries of government employees.