GP Fund Interest Calculation Formula, GP Fund Subscription Rates
GP Fund Subscription is made from the regular pay of an employee. This amount of GP Fund is deducted on monthly basis. The record of this amount is maintained from July to June of the next financial year. Its means calculation of interest is made on the annual basis. The formula of calculation of GP fund interest is as under, you can calculate interest yourself using this formula.
GP Fund Interest Calculation Formula
GP Fund Inters = (Rate of subscription x 6.50 + Opening Balance) x Rate of current interest
1. Subscription: Amount that deducted from pay on monthly basis.
2. Opening Balance Amount that is closed previous financial year.
3. GP Fund Interest: Every year net rate of GP Fund interest is issued by Govt.
Here are complete comparison of GP Fund Subscription Rates and GP Fund Interest rates.
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