I have prepared the GP Fund Interest Amount Calculator on GPF Advance. The calculation sheet is simple. You just have to enter the GP Fund amount you have withdrawn and the total number of instalments. The details are as follows:
GP Fund Interest Amount Calculator on GPF Advance
An employee who is getting interest on GP Fund will have to pay interest on GP Fund advance too. If the employee has interest-free GP Fund, then he will have to pay no interest on his GP Fund Advance.
GP Fund Advance Interest Calculation Formula
The formula to calculate interest amount on GPF Advance is simple, that is as under:
GPF Advance Interest Amount = Total Amount Taken as Advance x No of Instalments / 500
Generally, the refundable advance is to be paid in a maximum of 48 monthly instalments. However, the employee can opt to reduce the number of instalments.
Online Calculator to Calculate GPF Advance Interest Amount
Will be updated soon In Sha Allah
Offline MS Excel Sheet
The Calculator for calculating GPF Advance Interest Amount is as under. It is in an MS Excel sheet; download the calculator and enter your total advance amount and number of instalments.
Download GPF Advance Interest Amount Calculator
