Last Updated on September 8, 2022 by Galaxy World
Government of Sindh, Finance Department issued a Notification on 07-09-2022 in connection with GP Fund Subscription Rates 2022 Sindh Govt employees. The New Sindh Government GP Fund deduction rates 2022 are effective from the salary of September 2022 that the employees will get on 1st October 2022. The details are as under:
GP Fund Subscription Rates 2022 Sindh Govt
The last time, the Finance Department Sindh revised the GP Fund deduction rates was in 2017 when the Government revised the Basic Pay Scales 2017. Now after the introduction of new pay scales in 2022, the Government has to change the rates of subscription.
Table of New GP Fund Deduction Rates 2022
The table for the subscription rates for the employees of BPS-01 to BPS-22 of the Sindh Government is as under:
|Sr. No||BPS||Average Basic Pay||Subscription rates percentage||New GP Fund Subscription rates|
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Option to Postpone The New rates
The deductions from the pay of employees on basis of new rates, the Accounts Offices will do in the month of September 2022 and the employees will get a salary with new deducted rates of GP Fund on 1st Oct 2022. There shall be no option to postpone the subscription to the above fund either during leave (except Extra Ordinary Leave without pay) or during the training period.
Effects of New GP Fund Deduction Rates 2022
The new GP Fund deduction rates may affect the following for employees:
- Decrease in net salary due to high increase in deduction
- More balance in their GP Fund Accounts hence the employees will get more interest on their GP Fund balance. Sindh Government has also issued the Notification of GP Fund Interest Rates 2021-22 which is the same as the Federal Government announced.