The Finance Department, West Bengal on September 11, 2024, issued the notification regarding the Addendum of a new point under the procedure for payment of Provident Fund interest.
The following has been stated namely: -
• In order to bring uniformity in payment of interest on balances of Provident Fund of employees under Non-Government Educational Institutions. Local Bodies and other similar institutions a new Point after Point 3 mentioned in Sub-Para (ii) of Para-2 of FD Memo No. 4560-F dated April 28, 1992 is hereby inserted namely: -
"In case of final withdrawal of accumulations in the Provident Fund, interest shall be payable thereon to the employee or his nominee or legal heirs, as the case may be, up to the end of the month preceding which the payment is made or up to the end of the sixth month after the month in which such amount became payable, whichever is earlier."
This order shall come into force with effect from January 01, 2024.
[Notification No. 4045 F(Y)]
