How much is the PF Pension we will get after 58 Years. I am 42 Years old and i am contributing the maximum ceiling amount which is Rs.1250. Is there any way to withdraw the pension fund also even if we cross 10 Years of PF Contribution? more
These are complex formulas and not easy to compute . On rough scale you should expect pension of around 2000/ pm if you do not commute the pension. The worst part is that the pension has no DA component like government employees and hence we do not get any benefit . We move from poor to poorer and no one seams to be thinking in this direction. Modiji did make minimum pension as 1000/ pm but that is too meagre in these days of inflation . Moral of the story is do not count the pension..yes it will pay for your mobile and dth recharge. more
Pension formula is = Pensionable service x pensionable salary divided by 70. Hower prior to 15.11.1995 EPS was not there but only FPS was pension for the period of contribution the factor is calculated as per table give in the Act. From April 2014 onwards the pensionable salary was revised to 15000/- per month. In your case the pension is calculated a) The pensionable salary was considered from 16.11.1995 to 31.3.2014 as Rs. 6500/- and from 1.4.2014 onwards the pensionable salary would be taken as Rs. 15000/-. Based on the prevailing conditions you would get pension approx. of Rs. 5800 - Rs. 6000/- per month on attaining the age of 58 years. However this may get enhanced if the pensionable salary is revised further. more
Amount of pension is decided by he following formula: (pensionable salary)/70 * (number of contributory years.). where pensionable salary (as its definition stands today) is average of last 5 years of wages (salary on which EPS was deducted- which is 15000 today). At the time of your retirement, this 15000/- ceiling would further get revised. Also you get 2 bonus years of contribution when you complete 20 years of contribution. So all these factors will decide your pension. It cannot be withdrawn if you completed 10 years of contribution. more
EPFO Takes 15-20 Days for PF Withdrawal Shouldn’t Take More Than 2-3 Days in 2024 Pay Compensation of ₹5000 Per Day if Withdrawals Delayed by Lazy Sarkari Babus
My retirement has only 4 months. Before retirement I would like to settle my all-personal loans having @12.2 lacs. But I have only source is PF which is now accumulated more than Rs. 32 lacs. Shall...
Once the Government has announced EPF interest rates, what is reason for non reflection in members pass book? Such delays also cause financial loss to members who have to do a final withdrawal...
EPFO has now allowed subscribers to go beyond the pensionable salary capped at Rs 15,000 a month on which employers deduct a sum equal to 8.33% of the ‘actual basic salary’ towards pens...
Dear Respectable Members, I am not sure what guidelines OR procedures to get higher pension from EPF/EPS. I am having only News paper information, that is 6th May 2023 as last date to su...
After recent retirement, I had applied for full PF-amount-release, which was subsequently shown as settled. On the EPF Portal, it shows as - "Your Claim [ Claim Id - xxx ] has been Settled. P...
Earlier I applied form 10D offline at RPFO cuddapah (AP) for pension claim on superannuation. There was no response for verification of scheme certificate for about 3yrs. Finally I could get verif...
On Monday, EPFO announced that all the eligible members of the provident fund body can now opt and apply jointly with their employers for higher pensions till May 3, 2023. Earlier, the deadline for...
MORE IMPORTANT IS RULE, APPLIED ON US FOR LATE PAYMENTS. EPFO ,LOOKS LIKE AN ADMINISTRATIVE INSTITUTION, NOT SERVICE SECTOR. THEY SHOULD PAY. WE SUFFER FOR LATE PAYMENT.THEY CARE FOR NONE.EVEN BAN...
By Satyapal Singh
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