How to calculate pension under EPS 1995
How to calculate pension under EPS 1995 after attaining the age of 58 years
Date of Joining - 01/10/1983
Date of Exit - 30/06/2018
Pensionable salary (5 years average) = 13,017/- per month
Salary as on 15.11.1995 = 3,630/- more
Date of Joining - 01/10/1983
Date of Exit - 30/06/2018
Pensionable salary (5 years average) = 13,017/- per month
Salary as on 15.11.1995 = 3,630/- more
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A) Past Service
1) from 16/11/1995 to 30/06/2018 22 yrs 7 months 15 days Factor is 5.649
2) from 1/10/1983 to 15/11/1995 12yrs, 1 month, 15 days factor is 105.
Past service benefits = 5.649 x 85 = Rs. 480.16
B) Pension Service Benefit
1) From 16/11/1995 to 30/06/2018 22 yrs 7 months 15 days rounded off to 23 yrs. add weight age of 2 yrs = 25yrs.
2) determination of Pensionable salary 14 x 6500= 91000 and 46 x 13017 = 598782
689782/60 = 11496.36 average salary.
3) monthly members pension
Pension salary x Pensionable Service / 70
11496.36 x 25 /70 = 4105.84
Total pension = 4105.84 +480.16 = 4586/-
NB:- Date of birth consider 30 June.
Since month wise PF salary for last 60 months is not available, salary consider is RS. 13017/- more
1) from 16/11/1995 to 30/06/2018 22 yrs 7 months 15 days Factor is 5.649
2) from 1/10/1983 to 15/11/1995 12yrs, 1 month, 15 days factor is 105.
Past service benefits = 5.649 x 85 = Rs. 480.16
B) Pension Service Benefit
1) From 16/11/1995 to 30/06/2018 22 yrs 7 months 15 days rounded off to 23 yrs. add weight age of 2 yrs = 25yrs.
2) determination of Pensionable salary 14 x 6500= 91000 and 46 x 13017 = 598782
689782/60 = 11496.36 average salary.
3) monthly members pension
Pension salary x Pensionable Service / 70
11496.36 x 25 /70 = 4105.84
Total pension = 4105.84 +480.16 = 4586/-
NB:- Date of birth consider 30 June.
Since month wise PF salary for last 60 months is not available, salary consider is RS. 13017/- more
Jun 25
As per formulae our employees pension comes to Rs. 5242.00 but EPFO set monthly pension only Rs. 3236.00.
I do'nt understand, how EPFO calculated the monthly pension. more
I do'nt understand, how EPFO calculated the monthly pension. more
Jun 29
Also let me know your month wise PF salary for last sixty months.
On Thu, Jun 25, 2020 at 1:35 PM Waman K Nayak <wamank.nayak@gmail.com>
wrote:
> What is your date of Birth?
>
> On Mon, Jun 22, 2020 at 1:50 PM Alok Kumar Shrivastav <
> support@localcirclesmail.com> wrote:
>
>> more
On Thu, Jun 25, 2020 at 1:35 PM Waman K Nayak <wamank.nayak@gmail.com>
wrote:
> What is your date of Birth?
>
> On Mon, Jun 22, 2020 at 1:50 PM Alok Kumar Shrivastav <
> support@localcirclesmail.com> wrote:
>
>> more
Jun 25
What is your date of Birth?
On Mon, Jun 22, 2020 at 1:50 PM Alok Kumar Shrivastav <
support@localcirclesmail.com> wrote:
> more
On Mon, Jun 22, 2020 at 1:50 PM Alok Kumar Shrivastav <
support@localcirclesmail.com> wrote:
> more
Jun 25
Hi Alok srivastava ji, please confirm your figure reach near about with formula=5 yr basic*no of serv../70
Thanks, more
Thanks, more
Jun 24
