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  • Service Rules: Online Assignment #

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    The document provides instructions for an online assignment from the Pakistan Institute of Public Finance Accountants Lahore, asking students to define non-refundable GPF advances, describe conditions for a second refundable GPF advance, and explain GPF rules regarding deduction of Zakat. It also provides particulars for a worked example to calculate a GPF closing balance statement for the year 2017-18.

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    Online Assignmen - 5

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    The document provides instructions for an online assignment from the Pakistan Institute of Public Finance Accountants Lahore, asking students to define non-refundable GPF advances, describe conditions for a second refundable GPF advance, and explain GPF rules regarding deduction of Zakat. It also provides particulars for a worked example to calculate a GPF closing balance statement for the year 2017-18.

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    © All Rights Reserved
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    9 views1 page

    Service Rules: Online Assignment #

    Uploaded by

    aliakhtar02
    The document provides instructions for an online assignment from the Pakistan Institute of Public Finance Accountants Lahore, asking students to define non-refundable GPF advances, describe conditions for a second refundable GPF advance, and explain GPF rules regarding deduction of Zakat. It also provides particulars for a worked example to calculate a GPF closing balance statement for the year 2017-18.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
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    PAKISTAN INSTITUTE OF PUBLIC FINANCE ACCOUNTANTS LAHORE

    Online Assignment # 5 –Service Rules


    Submission of Assignment: May 19, 2020 - between 20:00 to 21:00 - on WhatsApp
    Group titled “SR”

    A. 1 Define non-refundable GPF advances.

    A. 2 What are conditions for second refundable GFP advance?

    A. 3 Describe GPF rules regarding deduction of Zakat.

    A. 4 Work out GPF closing balance statement for the year 2017-18 from the
    following particulars:

     Balance as on 30th June 2017: 1,035,890


     Rate of monthly subscription: 4,270
     Drew refundable GPF advance of Rs.100,000 on August 28, 2016. The
    subscriber opted to refund advance in 20 equal installments.
     He draw 2nd refundable advance of Rs. 300,000, in adjustment of
    outstanding balance of 1st refundable GPF advance on September 14,
    2017. The subscriber opted to refund this advance in 30 equal
    installments.
     Rate of interest for the FY 2017-18 is 11.70%.

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