Employees Corner, Education and Govt Jobs
When an employee is retired from Govt service on the basis of Encashment, the encashment of leave is due for the said employee. This encashment is granted to the employee on the leaves in his/her credit not exceeding to 365 days according to new rules of encashment of 2012. The greater the number of leaves in his/her credit the more encashment he/she will get.
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:
A Pay Structure Committee has been constituted by the Government and its meeting has already held on Monday 10th September 2012. The main function of this committee is to find the discrimination of pay and allowances among the Govt employees of various departments. The other task of this committee is to merge the Adhoc Allowances into new Basic Pay Scales. The next meeting of this committee is expected soon during the next weeks.
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.
220 vacancies of teaching staff and many other vacancies of non teaching staff have been announced by the Federal Directorate Education Islamabad in Ministry of Capital Administration & Development Islamabad. These vacancies are to be filled on contact basis for one year. Last date of submission of applications to Federal Directorate of Education G 9/4 Rehtas RoadIslamabadis 21st Sep 2012.