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:
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.
Calculation of interest on Motorcar and Motorcycle Advance is really a great topic for the employees who don’t know the ABC of accounts. Most of the employees depend on auditors and accountants or other clerical staff to calculate the interest on the advances they have drawn. Sometimes they due to unawareness of the calculation of the amount of interest many employees may pay more interest than the actual interest amount, this is really a financial loss for the employee.
Seniority list of teaching staff of BPS-09 of Metric Trained Teachers of the Federal Govt Educational Institutions has been issued provisionally. This seniority list consists of Male Teaching Staff and Female Teaching Staff both of Urdu Medium Schools and English Medium Schools of the employees of BPS-09. This sonority list has been published in the image format for the convenience of the visitors.
The rates and the conditions of the Motor Cycle Advance, Motor Car Advance and Bicycle Advances have been revised/amended wef 01-07-2012 vide Government of Pakistan, Finance Division (Regulation Wing) Ltr No.No. F.8 (2)-Reg.7/87(Vol.11)-288 dated 20th July, 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: