Section 14(1) in The M.P. General Provident Fund Rules, 1955
(1)Subject to the provisions of sub-rule (5) below, Government shall pay to the credit of the account of a subscriber interest at such rate as may be determined for each year according to the method of calculation prescribed from time to time by the State Government :Provided that, if the rate of interest determined for a year is less than 4 per cent all existing subscribers to the fund in the year preceding that for which the rate has for the first time been fixed at less than 4 per cent shall be allowed interest at 4 per cent:Provided further that if the rate of interest determined for a year is less than that guaranteed by the former States prior to the 1st November, 1956 the affected Government servant shall be allowed interests at the guaranteed rate (vide General Administration Department Memo No. 3024-I-Int., dated 13th August, 1958).Note. - The rate of interest was for the first time fixed at less than 4 per cent from 1st April, 1938.
