The Finance Department of AJK has revised AJK GP Fund rates. The Finance department issued a Notification on September 27, 2022, regarding Revised GP Fund Subscription Rates AJK 2022. These new rates the Government of Azad Jammu & Kashmir imposed due to Revised Pay Scales 2022 of AJK.
New 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 (BPS) for the government 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:
Table of New General Provident Fund (GPF) Subscription Rates 2022 AJK
This table contains the revised monthly subscription rates of GPF for AJK government employees.
|Sr. No||BPS||Revised Monthly Subscription Rates|
First Deduction Month
The new rates are effective with effect from the month of September 2022. The salaries that the employees will get on October 01, 2022, will have the new rates of GP Fund deductions.
New Subscription Formula
In the new subscription formula, the basic pay of the employee 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|
Here is the notification of AJK Revised GP Fund Subscription Rates 2022: