# How to calculate GPF Interest?

**How to Calculate General Provident Fund Interest:**

This question may look simple but in reality a small calculation error in GPF interest calculation may cost you more. This is because compound interest in the long run may fetch you lot of money and if you are on the loosing side of the calculation error you will ever regret as once you have certified the correctness of the GPF statement given to you every year without properly verifying the same it will be a herculean task to set right it later on if you GPF account has any calculation mistake.

So be sure that the GPF interest calculation are correct and deposits made are properly accounted for before you certify the correctness of the GPF Statement. Normally, the correctness of the GPF statement has to be questioned by you within 3 months of the receipt of the same. Otherwise the same will be deemed to be certified by you as correct.

This GConnect GPF interest calculation tool will calculate the GPF interest taking in to account the monthly deposits made, advance or withdrawal made etc.

**This is the formula to calculate GPF Interest:**

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

Note this formula for academic interest but never do your GPF interest calculation manually any more as we have provided this easy to use online GPF interest calculation tool.

**How to use this Tool?**

Just fill up four fields. 1. Opening Balance of GPF at the beginning of the year, 2. Monthly subscription amount, 3. monthly advance recovery if any and 4. rate of interest and click "Calculate GPF Interest" Button. That's it!

Your GPF work sheet is ready. You can change each editable field of the work sheet for modifying GPF subscription, monthly advance recovery etc for each month. This will be useful if you have variable monthly subscription amount or variable advance recovery amount to be entered.

If you have withdrawn or obtained GPF advance enter the same in the relevant month in the work sheet. When come out of the field after you make any modification in the GPF work sheet the tool will automatically re-calculate the results.

Keep in mind that when you click "Calculate GPF Interest" button the work sheet will be filled up with the calculations based on the values you have given in the entry sheet. So do not use Calculate GPF Interest button unless it is necessary if you have modified the GPF sheet.

Please arrange for npsÂ calculatorÂ if possible…..

As I enhanced my monthly GPF subscription from Rs.6000 to Rs.20,000 from Nov, deducted out of my Nov month’s salary, should’nt the total at the end of the financial year be Rs.1,42,000 and not Rs.1,28,000 as calculated by my office. Pl. reply.

Most of the Central Govt offices annual year for payments starts from April 1 payement for March of the same year(ie in calendar month April you get two months pay, 1st and 30th and no pay for the month March) and ends with Feb (next Calendar year pay).

Hence your subscription starts from the payment of March till Feb next year.

As you have paid Rs.6000 / month till Oct, means, from Mar to Oct (8 months @ 6K =) 48 K + for Nov. to Feb (4 months @ 20 K =) 80 K . these two added together gives Rs.1,28,000 only for thar Year from you salary.

please give amodel calculation

can we calculate gpf interest rates of previous years

GPF calculator is good tool. i have calculated the gpf interest but there is a different in statements.

the gpf deduction and other details fed are from april to march. i think it should be from march (paid in april) to feb. kindly check.

Sir kindly give the PPf Calculation tool .

There appears a slight error in the GPF interest calculator provided above. Kindly re-check