EPF PENSION
Sir,
I have attained 58 years on 15 may 1918. I joined EPFO in Sept 1997 till date i.e. May 2018 my subscriptions are up to date. By date it works out to be 21 years service and weightage 2 years i.e total pensionable service as 23 years.
Out of which 17 years till 1 Sep 2014 Deductions done on 6500 i.e Rs. 541 Per Month). and 04 years from 1 Sept 2014 to May 201( Deductions done on 15000 i.e. Rs. 1250 Per Month).
EPFO is calculating my pension in two parts as follows:
I part
17X6500/70 = 1578.5/-
II Part
4 years+ 2 years weightage)X (Average of 15 months @6500/- + Average of 45 months@15000) /70
= 6X12875/70 = 1103/-
Pension calculated by EPFO is 1578.5+1103 = 2682/- Per Month.
Is this correct?
can any one throw some light? more
I have attained 58 years on 15 may 1918. I joined EPFO in Sept 1997 till date i.e. May 2018 my subscriptions are up to date. By date it works out to be 21 years service and weightage 2 years i.e total pensionable service as 23 years.
Out of which 17 years till 1 Sep 2014 Deductions done on 6500 i.e Rs. 541 Per Month). and 04 years from 1 Sept 2014 to May 201( Deductions done on 15000 i.e. Rs. 1250 Per Month).
EPFO is calculating my pension in two parts as follows:
I part
17X6500/70 = 1578.5/-
II Part
4 years+ 2 years weightage)X (Average of 15 months @6500/- + Average of 45 months@15000) /70
= 6X12875/70 = 1103/-
Pension calculated by EPFO is 1578.5+1103 = 2682/- Per Month.
Is this correct?
can any one throw some light? more
Viewed by 1048
Pension amount = (monthly pensionable salary * 12 * years of service) / 70 Now, monthly pensionable salary = average of last 5 years of salary. In your case since last 45 months you have contributed 1250 and 15 months before that you contributed 541 per month So it will be (15*541 + 45*1250)/60 = 1073 Pension = (1073 * 23 * 12)/70 = 4230 more
Jul 20
Sir,
EPFO is saying they the software which calculates in two parts as i have mentioned and can not do any thing. Can you tell me where i can find the calculation as you have shown me so that I can show to EPFO.
regds, more
EPFO is saying they the software which calculates in two parts as i have mentioned and can not do any thing. Can you tell me where i can find the calculation as you have shown me so that I can show to EPFO.
regds, more
Jul 21
You can check the pension calculation at: https://freefincal.com/revised-eps-pension-calculator/ or https://www.bemoneyaware.com/.../how-much-eps-pension-will-you-get-with-eps-pen. more
Jul 20
Pension in all Govt. services are calculated based on the last pay drawn. However, please try to obtain the present rules at EPFO from their manual. If they have made some rules to the disadvantage of a member, it can be petitioned to the highest level, if not get reply, can approach HR Minister. more
Jul 20
EPFO is become complicated since introduction of Aadhar. more
Jul 20
