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GPF Interest Rate Calculation Format Sheet

The Department of Accountant General of Uttar Pradesh notified a sample calculation of GPF

FORMAT OF GPF CALCULATION

Calculate interest for the year 2013-14 in r/o Y.C M O having following details

  • Opening balance as on 01/04/2013: Rs. 89,389
  • Monthly Subscription: Rs. 2,000
  • Refundable Adv.drawn on 25th June (refundable @500/10): Rs. 5,000
  • DA arrears (July-2013): Rs. 4,300
  • Rate of interest: 8.70 %

  • Opening balance as on 01/04/2013: Rs. 89,389
  • Deposits: Rs. 32,800
  • Interest = (Progressive x Rate of Interest) / (100 x Months) (1239868 x 8.7) / (100 x 12): Rs. 8,989
  • Total: Rs. 1,31,178
  • Withdrawal: Rs. 5,000
  • Closing balance as on 31.03.2014: Rs. 1,26,178

GPF Interest Calculator for CG Employees



Source: 7th Pay Commission
Click to read article at Source GPF Interest Rate Calculation Format Sheet

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