Para 6.10.1 — CAM

6.10 ANNUAL CLOSING OF ACCOUNT 6.10.1 Pay and Accounts Officers should calculate manually or through the electronic system as the case may be and allow interest on GPF balances in respect of each subscriber in terms of Rule 11 of GPF (CS) Rules and the corresponding provisions of CPF (India) Rules. He will verify the interest calculation done manually or by system on a sample basis to ascertain the correctness of calculations. He will also make necessary accounting adjustments to transfer the total interest amount to Fund Account in the March (Supplementary) accounts. After the accounts for March (Supplementary) are closed, the balance at the credit of each subscriber as on 31st of March, including interest for the year should be worked out in the ledger and the broadsheet. The total of closed balances shown in the broadsheets should then be reconciled with total figures under concerned head of account in the annual account. The individual closing balances in the broadsheets should also be verified with those in the ledger folio before they are carried over to the next year's ledger folio and broadsheets as opening balances. This should be done both under the manual as well as electronic system. The AAO in charge should attest the balances so carried forward.