Wrong EPS pension
While the EPFO has sent me data confirming Rs.13583 average Pensionable salary and Pensionable service as 17 years the Pension amount has been approved as Rs. 2012 per month.
I couldn't understand the calculation.
As per my understanding the calculation is
"EPS pension = Pensionable Salary * 17 / 70" which should in my case come to Rs.3299.
Can anybody help me with calculation to check the amount Rs.2012 approved is okay or not? more
I couldn't understand the calculation.
As per my understanding the calculation is
"EPS pension = Pensionable Salary * 17 / 70" which should in my case come to Rs.3299.
Can anybody help me with calculation to check the amount Rs.2012 approved is okay or not? more
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The Pension under EPS'95 is payable based on the last five (5) years average salary. But RPFC calculating the average in different way to pay less pension. Therefore, it may be taken up with EPFO, who may come out with clarification/solution:- To The Additional Central PF Commissioner (CSD), Employees Provident Fund Organization, Bhavishya Nidhi Bhawan, 14-Bhikaiji Cama Place, New Delhi-110 066. more
Oct 07
I am an RSS worker since my childhood(1964). Except during my studies in US as a postdoctoral fellow I have been working for RSS. Even though BJP is in very much alliance with RSS, the policies of BJP govt. from the time of Vajpayee govt itself is deadly against public sector employees. The disinvestment policy and privatization of sectors like modern bread, NALCO, BALCO ,IPCL etc, etc are only part of that. Being a pious man we expected a different approach from our respected PM , Mr Narendra Modi but the discrimination and enmity to EPF pensioners is still continuing. All pension schemes of Central govt are DA linked except EPF. This is a total discrimination In addition to that the pension amount is miscalculated and reduced. If it is a mistake the pension can be more also. but it is not so I worked in a central public sector for 25 years and retired as GM During my period the company had gained a minimum profit of 30,000 crores out which more than half is my contribution Does the Union govt. expect a mass hunger strike to solve the problem, as Gandhiji did against the Britishers ? more
Oct 06
I too have the same experience. EPFO has arrived at a Pensionable salary of Rs. 11033 in my case. My Pensionable Service according to them is 24 years. But my pension is only Rs. 2361. I could not see them applying the Pension Formula (11033 x 24)/70, given in the EPS 1995 document. On writing to them as a complaint, they told that their calculation is correct. Only God knows the facts. The way they arrive at the Pensionable salary is also wrong, according to me. more
Oct 06
All said and done, PF department doesn't provide details of pension calculation. 2 years back arrears were credited to my bank account and no details were given till date. Isn't imperative of the department to provide details of the calculation of such arrears. In the meanwhile, after decades, supreme court gave the verdict forthe payment of pension on the fulll salary. As per the order, pensioner must pay back 8.67% contribution of PF to pension account to get the full pension. I do not know whether supreme court reckon the feasibility of such mammoth exercise to be undertaken for this purpose to identify as on date the existing pensioners who are willing to pay back the balance contribution of PF with interest to get full pension. more
Oct 06
Visit your regional EPFO office and find out the basis of the calculations. If it is wrong then submit a written application to correct it and pay the arrears. more
Oct 05
