Pension calulation
I am PF member since 1982 and was contributing to Family Pension account also. In 1995 new Pension scheme was introduced and have been contributing for the same. I am going to retire in April 2017. Can you kindly advise - what amount will be added to my Pension amount on account of my pre-1995 contribution ? more
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No pension will be provided or available pre 1995 since it came into existencse from 1995 only. more
Dec 12
Hi, You have not mentioned your PF basic for Pf /FPS calculation. After new FPS introduced (Rs.1250 PM) generally calculation of FPS based on number of years contribution and this will be calculated by PF department. It varies from Min. 1500/- max. fixed by dept., Thanks G. KUMAR more
Dec 08
EPS95 came into effect from 16.11.1995. From 16.11.1995 to March 2001 the pensionable salary was Rs.5000/0 from april 2001 onwards the pensionable salary was revised to Rs. 6500/- and from April 2014 it was again revised to Rs. 15000/- Pension is calculated on pensionbale salary contributed. Prior to 16.11.1995 you were a member of EPF-1971. You are retiring in April2017. You superannuation is 60 years, you should get pension from April 2015 onwards on attaining the age of 58 years. If your superannuation age is 58 then you get pension from April 2017 onwards. For the prior period 16.11.1995, the service left from Nov. 1995 is 21 years (assuming superannuation age 60 years else it should be 19 years) First pension is calculated fro November 1995n based on your pensionable salary and pensionable service) then a relevant factor which is given in the Act, is added for the EPF-71 contributions. It would be approx. Rs. 122/- (refer the detailed table provided in EPS-95). In other words, say your pension based on your pensionable salary is 3500/- and then add Rs. 122/-. Total Rs 3622/- would be payable. 90% of Rs. 3622/- would be your pension. The above illustration is to give a rough idea of your pension. The detailed calculation could not be done because of non-availability of full details. Hope it is clear to your\. pension = pensionable salary x pensionable service/70 more
Dec 08
shri Sundarajan reply is excellent and educative for exploring all kinds of cases related to EPF pension. thanks more
Dec 08
please visit this website which gives you as how to work out the pension for EPF. http://www.bemoneyaware.com/blog/how-much-eps-pension-will-you-get-with-eps-pension-calculator/ more
Dec 07
