How to Calculate General Provident Fund Interest:

This is the formula to calculate GPF Interest:

(Total of monthly interest bearing GPF balance/12)*(interest rate*100)

General Provident Fund
GPF Entry Sheet
Name of the Employee (Optional)
Designation (Optional)
Department (Optional)
GPF Account Number (Optional)
Enter Opening Balance of GPF at the beginning of the year
Enter Monthly Subscription (This is for same amount of subscription for 12 months-You can edit month wise GPF subscription below in the work sheet below if you have variable amount of monthly subscription)
Rate of GPF Interest for the year 2012-13 (to be calculated @ 8.8%)
Enter monthly GPF advance recovery (This is for same amount of recovery for 12 months-You can edit month wise GPF recovery in the work sheet below if you have taken advance in the middle of the year)
If you had withdrawn or taken advance enter the amount in the work sheet below in the relevant month in which withdrawal/advance is taken
GPF interest Calculation Work Sheet
Month Monthly Subscription GPF Advance Recovery Enter the amount wihdrawn in the appropriate month Enter the amount drawn as advance in the appropriate month Monthly Interest bearing GPF balance
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Total
Opening Balance of GPF at the beginning of the Year
Total Monthly GPF subscription
Total Recovery amount for GPF Advance
Total Deposits
Total GPF amount withdrawn during this year
Total GPF advance taken during this year
Net GPF Balance without interest for this year
GPF interest for this year
GPF Balance (including interest) at the end of the year

 
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