Posted inEmployees Corner GP Fund

How to Calculate GP Fund Interest Amount?

You already know that GP Fund subscription is made from the regular pay of an employee. This amount of GP Fund is deducted on monthly basis and is noted this amount in the GP Fund Card that is in the custody of concerned Accounts Department of the employee. The record of this amount is maintained from July to June of the next year. Thus the calculation of interest is made on the annual basis by the concerned Account Office. After the final calculation a GP Fund slip is issued to the related employee. You can yourself calculate this amount of interest by using this formula.

Posted inEmployees Corner GP Fund

GP Fund Subscription Rates Since 1986

The Rates of GP Fund Subscription have been changing in history for the various pay scales. Generally, these rates were changed as and when the new basic pay scales were revised. However, these rates were not changed when the new basic pay scales 2007 were introduced.

The full history of GP Fund Subscription Rates since 1986, Basic Pay Scale-wise and year-wise, is as under:

Posted inAdvances Employees Corner GP Fund

How to Calculate Interest on GP Fund Advance?

GP Fund or General Provident Fund is the amount that is being deducted from the pay of an employee on monthly basis at a fixed rate. This amount is actually the employees own amount that is given to the employee at the end of service or the employee can get it as and when he/she need it. Below the age of 45 the employee can get GP Fund Advance as refundable and at the age of 45 or more he/she may get the GP Fund advance non-refundable. I will here explain you the detail of the GP Fund Interest Amount and the method of calculating it.

Here is to mention that the employee can get 80 % of the total amount in his credit. Suppose an employee has Rs. 100000/- in his GP Fund balance then the employee can draw Rs. 80,000/- after sanctioning the higher authorities.

Posted inEmployees Corner GP Fund

GP Fund Interest Rates 1963 to 2012

I am sharing here the history of GP Fund Interest Rates 1953 to Date History (History of GP Fund Mark-up Rates). These GP Fund Interest rates are very useful for Govt Employees. These can help in calculating the interest on GP Fund as well as these can be very useful for the purpose of calculating interest on Motor Car Advance, Motor Cycle Advance, etc. In a few years, Government also granted a Bonus on GP Fund Interest amount. Federal Government issued new GP Fund Interest Rates 2021-22 @ 12.40%. The year-wise interest rates on the GP Fund since 1963 to date are as under: