How to Calculate Interest on GP Fund Advance?

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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.

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How to Calculate Interest on Motorcar and Motorcycle Advance?

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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.

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Appointments of Teaching and Non Teaching Staff under FDE Islamabad

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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.

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Leave Encashment Revised

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Leave Encashment has been revised vide the Finance Division Regulation Wing No. S.R.O 70/(KE)/2012 dated 29th August 2012. According to new rules the employees going on retirement and getting the benefit of Encashment will now avail the benefit of 365 days instead of 180 days.

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Congratulations Finally the Revised Notification of Conveyance Allowance BPS-01 to 15 Issued

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Finance Division Regulation Wing, Islamabadhas finally issued the revised notification of revised conveyance allowance vide Notification No.  F.3 (1)-R.5/2010-  dated 5th Sep 2012 for the employees of BPS-01 to BPS-15. New rates of Conveyance Allowance for BPS-01 to 04 are Rs. 1700/- PM, BPS-05 to BPS-10 Rs. 1840/- PM and for BPS-11 to BPS-15 Rs. 2720/- PM. Finance Div Regulation Wing Islamabad re-revised the conveyance allowance keeping in

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Appointment of 22,000 Arts Educators in Punjab Schools

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The Govt of Punjab has decided to appoint 22,000 School Educators to teach the arts subjects in Punjab Schools. The advertisement of these vacancies will be made during the last week of September 2012. This decision is made  to overcome the shortage of Arts School Teachers in the Punjab Provincial Schools. Initially 22,000 school educators will be appointed on contract basis in all the districts of Punjab Province.

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Leaves Rules for Federal and Provincial Govt Employees

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Leave rules 1981 are still applicable and there are amendments and explanations time to time. Leave rules for Federal and all the civil Govt Employees of central as well as Provincial Govt Employees has been fully described here. The detail of Leaves on full pay, leave on half pay, medical leave, special leave for female staff, maternity leave, disability leave, leave without pay is as under:

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