DCPS CALICULATION
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Transcript of DCPS CALICULATION
8/18/2019 DCPS CALICULATION
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DCPS CALICULATION
DCPS was introduced by the state government with afect rom
!"#""#$!!%& It states that em'(oyees who are a''ointed ater date!"#""#$!!% shou(d be enro((ed or DCPS and not in )P*& This has
been ado'ted by the N+C !"#!%#$!""&
,ere are some scenarios in which we are encountering errors during
the ca(cu(ation 'rocess
"& There are variations in the 'ercentage o the contribution
ca(cu(ated or some o the em'(oyees&
$& N+C contribution has not been a''(ied or any o the em'(oyeesti(( A'ri( $!"" which are needed to be recovered&
-& There are instances where the em'(oyees are (end (oans rom
DCPS contribution which is not a((owed as 'er the norms stated
in the res'ective )./& In cases where (oans are issued to em'(oyees under DCPS0 the
amount has been tota((y recovered& In such cases whi(e the
interest is ca(cu(ated on their ba(ances0 due care shou(d be ta1en
to ta1e into account the shorta(( in their 'rogressive ba(ances
during recovery durations&
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Pro'osed so(utions or the above Said Scenarios2
There are variations in the percentage of the contribution
calculated for some of the employees
*or each em'(oyee rom the date o 3oining into N+C by Considering the
Actua( 4asic0 )rade 'ay and Dearness A((owance 56'ected contribution wi((
ca(cu(ated and sum wi(( divided by number o months and it wi(( be recovered
rom em'(oyee on month(y basis & P(ease 7nd the be(ow e6am'(e or the saidscenario&
Empno
Date of Joining
DCPSCONTR!"TON E#pected
Recovered$mount
!alanceofRecovery
Di%erenceTill&'(')(*'++ inmonths
$dditional,onthlyRecovery for&' months -ibe
8$$%-!&!/&$!!9 :9!9/ $9!/$ /!!/$ -! "-
N,C contribution has not been applied for any of the employees
till $pril *'++ -hich are needed to be recovered&
5m'(oyees who ;oined Ater !"&""&$!!% and a((ing under DCPS scheme or
those em'(oyees N+C contribution or the DCPS was not a''(ied ti(( A'ri(
$!"" inc(uding A'ri(& *or those em'(oyees N+C contribution needs to be
credited&
Emp noDate of
Joining
N,C.S DCPSCONTR!"TON S/O"0D !E
Di%erenceTill&'(')(*'++in months
$dditionalContributionfrom N,C
8$$%-!&!/&$!!9 :9!9/ -! $$<!
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n cases -here loans are issued to employees under DCPS1 the
amount has been totally recovered( n such cases -hile the
interest is calculated on their balances1 due care should be
ta2en to ta2e into account the shortfall in their progressive
balances during recovery durations(
So(ution "2 Ater due consideration o A''rova( o (oan and 5+I o the
(oan the ca(cu(ation goes as a((ows&
,ONT/
DCPSCONTR!"TON
0O$N$PPRO3ED$,O"NT
0O$NNST$00,ENT
,ONT/ END!$0$NCE
CumulatedProgressive4gure
Opening balance-!!!!&
!!
A'r="- $!!!-$!!!&
!!
+ay="- $!!! "!!!! "!!! $%!!!&!!
3un="- $!!! "!!!$9!!!&
!!
3u(="- $!!! "!!!-"!!!&
!!Aug=
"- $!!! "!!!-/!!!&
!!Se'=
"- $!!! "!!!-<!!!&
!!Oct=
"- $!!! "!!!/!!!!&
!!
Nov="- $!!! "!!!
/-!!!&!!
Dec="- $!!! "!!!
/:!!!&!!
3an="/ $!!! "!!!/8!!!&
!!*eb=
"/ $!!! "!!!%$!!!&
!!+ar=
"/ $!!!%/!!!&
!! /<"!!!&!!
NTEREST $PP0ED&)&)(&
5
NE6T 7E$R OPENN8 !$0$NCE9:)&)(
&5
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A(ternative so(ution2 As a act that a(( the (oans are recovered by N+C
we can go orward with the be(ow mentioned 'rocess&
,ONT/
DCPSCONTR!"TON
0O$N
$PPRO3ED$,O"NT
0O$NNST$00,ENT
,ONT/ END!$0$NCE
CumulatedProgressive 4gure
Opening balance-!!!!&
!!
A'r="- $!!!-$!!!&
!!+ay=
"- $!!!-/!!!&
!!
3un="- $!!!-:!!!&
!!
3u(="- $!!!-9!!!&
!!Aug=
"- $!!!/!!!!&
!!Se'=
"- $!!!/$!!!&
!!Oct=
"- $!!!//!!!&
!!Nov=
"- $!!!/:!!!&
!!Dec=
"- $!!!/9!!!&
!!
3an="/ $!!!%!!!!&
!!*eb=
"/ $!!!%$!!!&
!!+ar=
"/ $!!!%/!!!&
!! %":!!!&!!
NTEREST $PP0ED&:;*(9
'
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NE6T 7E$R OPENN8 !$0$NCE9::;*(
9'
>ou can observe very c(ear(y the c(osing ba(ance diference between
the c(osing ba(ance o em'(oyee with (oan consideration and the (oan withoutconsideration& I we consider the (oan and 5+I?s the Interest wi(( be -/-/&-9
and Ne6t year o'ening ba(ance wi(( be %</-/&-9&
I (oan and 5+I?s not a''(ied the ba(ance wi(( be %<<:$&