Friday, May 25, 2012

How to calculate GPF interest


How to calculate the interest rates for General Provident Fund

The rate of interest on GPF is generally fixed after taking into consideration the average secondary market yields on government securities. The rates of interest on General Provident Fund (GPF) is 8% for the period from 1.4.2011 to 30.11.2011 and 8.6% from 1.12.2011 to 31.3.2012, whereas the rate of interest on EPF for the financial year 2011-12 is 8.25%.

whereas the rate of interest on EPF is fixed on the recommendation of the Central Board of Trustees (CBT) by the Employees Provident Fund Organisation (EPFO), Ministry of Labour and Employment based on the income earned on the accumulated fund during the financial year.



Ministry of Finance announced on 22nd May 2012, the interest rates on General Provident Fund and similar funds, which has been revised to 8.8% (Eight point eight per cent) with effect from 1.04.2012. 

4 comments:

ravi kant said...

sir,
i had prepared a calculator with data base for gpf calculations which i had uploaded on www.employeesforum.in.minor changes can be made in this calculator if the need be.i want to upload it on ur website if allowed.

p k j said...

in it flat rate of interest is showing i.e for whole year rate of interest is same what will be the chatr when first eight month interest is 8% and next 4 month is 8.6 kindly provided me as i am confused with my statement my id is pankajgugu@gmail.com

p k j said...

kindly provided the calculation for first 8 month rate of interest with 8% and rest 4 month with 8.6%.

Sasidharan Pillai Madhavan Pillai said...

Sir, I wish to volunnteor retairement after 30 years service from BRO on Jan 2013. how i calculate my GPF before completion of 12 months.

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