METHOD OF CALCULATING GPF INTEREST.

(a) On any uniform sum beginning in any month and continuing till the end of the year:-

TABLE

Apr	May	Jun	Jul	Aug	Sept	Oct	Nov	Dec	Jan	Feb	Mar
78	66	55	45	36	28	21	15	10	6	3	1

Multiply the rate of subscription with the figure shown below the month in which the

subscription is commenced and allow interest on that sum at the rate current for the year with

the aid of the interest table.

Example:- Rate of subscription is Rs. 20 payment commences in May

And is continued till the end of the year:-

Interest = 20 x 66 = Rs.1,320.

Principal Interest

Taking the rate at 4% for .. Rs.1320 Rs.4.40

Rounded off to the nearest Rupee Rs.4/-

(b) On any uniform sum beginning in April and discontinuing from any month during theyear:-

TABLE

Apr	May	Jun	Jul	Aug	Sept	Oct	Nov	Dec	Jan	Feb	Mar
12	23	33	42	50	57	63	68	72	75	77	78

Multiplying the rate of subscription with the figure below the month in which the last

instalment is paid and allow interest on that sum at the rate current for the year with the aid of

the interest table

Example:- Rate of subscription Rs.20 last instalment paid in September.

Interest =20x57 = Rs.1140

Principal Interest

Taking the rate at 4% for .. Rs.1140 Rs. 3.80

Total Rs. 3.80

Rounded off to the nearest rupee.. Rs.4/-

(c) On a single sum deposited or withdrawn in any one month:-

Multiply the rate of subscription with the number of month remaining in the year including in

which the deposit or the withdrawals is made, and allow interest on that sum at the rate currentfor the year with the aid of the interest table.

Example:- Rate of subscription is Rs.20, deposited in October.

Interest = 20 x 6 = Rs.120

Principal Interest

Taking the rate at 4% ..Rs. 120 Rs. 0.40

Note:- Interest is rounded to the nearest Rupee in the case of Provident Funds.