Notification of Revised GP Fund Subscription Rates AJK 2022 has been issued on 27-09-2022 by Finance Department AJK. Further detail of said notification in same is as under;
Revised GP Fund Subscription Rates AJK 2022
I am directed to refer to this Department Office Memorandum dated 08-08-2017 on the subject cited above and to state that consequent upon revision of basic pay scales for the civil employees of AJ&K Government circulated OM. Govt of AJ&K decided to revise the rates of subscription towards the General Provident Fund as shown in the below table:
General Provident Fund Subscription Rates 2021-22 AJ&K
|Sr. No||BPS||Revised Monthly Subscription Rates|
1st Deduction Month
The new rates are effective with effect from Sep 2022. The salaries that the employees will get on 1st Oct 2022 will have the new rates of GP Fund deductions.
New Subscription Formula
The average basic pay is taken from the initial basic pay and the last stage of the pay scale concerned. After getting average basic pay we multiply it by 3% for BPS-01, 5% for BPS-02 to 11, and 8% for BPS-12 to 22.
|Sr. No||Basic Pay Scales (BPS)||Subscription|
|1||BS-01||3% of Average Basic Pay|
|2||BS-02 to BS-11||5% of Average Basic Pay|
|3||BS-12 to BS-22||8% of Average Basic Pay|