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General Provident Fund Interest Rates 2022 Khyber Pakhtunkhwa

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Rate of Mark-Up on State Provident Fund i.e General Provident Fund for the Fiscal year 2021-22 | Government of Khyber Pakhtunkhwa | August 19, 2022

Fiscal Year / FinancialRate of Markup
2019-2012.00%
2020-2107.90%
2021-2212.40%
Rate of Mark-Up on State Provident Fund i.e General Provident Fund for the Fiscal year 2021-22 | Government of Khyber Pakhtunkhwa | August 19, 2022
Rate of Mark-Up on State Provident Fund i.e General Provident Fund for the Fiscal year 2021-22 | Government of Khyber Pakhtunkhwa | August 19, 2022

Effect of GP Fund Mark Rates 2021-22 on Advances

The new rates though look charming for the employees having an interest in their General Provident Fund. However, it will affect badly their interest in advances that the employees got during 2021-2022. If the Government would fix the rates as previously, the employees had to pay interest @ 7.9%. As now the Government fixed rates of interest on GP Fund @ 12.40% so the employees would have to pay interest @ 14.4%. Let’s explain the same situation with an example.

Examples of Interest with Different Rates

If the Interest Rate = 6.7%

Total Interest = 17029/- on a total amount of 100,000/- as Motorcycle advance

Motorcycle Advance Interest Calculation
Amount of Advance100000
No. of Installments60
Interest Rate6.7
Amount of Interest17029.16667
Total Amount Payable117029.1667

If the interest rate is 12.40

Then the total interest = 31516/- on a total amount of Rs. 100,000/- only.

Motorcycle Advance Interest Calculation
Amount of Advance100000
No. of Installments60
Interest Rate12.4
Amount of Interest31516.66667
Total Amount Payable131516.6667

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