It is so simple to calculate GP Fund with the help of most easiest type of GPF calculator in excel format for all the Government employees of Federal and provinces like Punjab, KPK, Sindh, Balochistan.
If you can remember the formula of how to calculate GP fund in the fiscal year 2019-20 then it is so simple check your GP fund statement at home.
This GP Fund calculator is prepared with the efforts of Mr. Zia Mustafa. This subscription of GP fund ratio is deducted on monthly basis and will be reflected in the salary slip of employee.
Everyone can get the GP fund statement on yearly basis from their concerned accounts department. Mostly, the the rate of interest of GP fund is being changed after every budget. The new interest rate of GP fund 2020 will be announced in upcoming budget 2020-21.
GP Fund Calculation Formula
GP fund is the amount which is deducted of every Govt employee in monthly basis according to the implemented interest rate. Rate of GPF interest varies normally on yearly basis. Every year new rates of the GP Fund Interest are issued by the Govt department.
GP Fund Interest = (Rate of Subscription x 6.50 + Opening Balance) x Rate of Interest