Date of Joining is 12 October 1982 and date of exit is November 1995 was member of PF. In this case am I eligible for Pension. Please advise.
From United States, New York
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10From United States, New York
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Dear Friend,
As per the Pension scheme under EPFO, if any employee completes 10 years of pension contributions, the employee will be eligible for a monthly pension and will receive a pension certificate from EPFO.
You may withdraw your EPF contribution of (12% + 3.67%) by filling out the online Form 19.
From India, Mumbai
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As per the Pension scheme under EPFO, if any employee completes 10 years of pension contributions, the employee will be eligible for a monthly pension and will receive a pension certificate from EPFO.
You may withdraw your EPF contribution of (12% + 3.67%) by filling out the online Form 19.
From India, Mumbai
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Hi,
The Employees' Pension Scheme (EPS) provided by the Employees' Provident Fund Organisation (EPFO) was launched in 1995 only. If you left your service by 1995, it is unclear whether you opted for the Pension scheme during that year based on your post. Please check with any nearby PF Office, as they will be able to provide the right clarification.
From India, Madras
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The Employees' Pension Scheme (EPS) provided by the Employees' Provident Fund Organisation (EPFO) was launched in 1995 only. If you left your service by 1995, it is unclear whether you opted for the Pension scheme during that year based on your post. Please check with any nearby PF Office, as they will be able to provide the right clarification.
From India, Madras
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Hi,
Date of joining is 1st April 1994, and I became a member of EPF in November 1995. I am about to retire on 31st May 2019. My gross salary is Rs. 22,000 per month, while the basic salary is Rs. 16,110 per month. Family pension contribution has been done at 8.33% on Rs. 15,000 for the last five years.
Could you please tell me how much pension I will receive after retirement?
Thank you.
From India, Calicut
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Date of joining is 1st April 1994, and I became a member of EPF in November 1995. I am about to retire on 31st May 2019. My gross salary is Rs. 22,000 per month, while the basic salary is Rs. 16,110 per month. Family pension contribution has been done at 8.33% on Rs. 15,000 for the last five years.
Could you please tell me how much pension I will receive after retirement?
Thank you.
From India, Calicut
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Dear Friend,
As you joined after 1995 and completed 20 years in service, you will receive 2 years of bonus. Your calculation for EPS pension is as follows: EPS pension = Avg Salary * No of years completed / 70.
Using the given values: 15000 * 26 / 70 = 5570, your monthly pension amount is $5570.
Thank you.
From India, Mumbai
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As you joined after 1995 and completed 20 years in service, you will receive 2 years of bonus. Your calculation for EPS pension is as follows: EPS pension = Avg Salary * No of years completed / 70.
Using the given values: 15000 * 26 / 70 = 5570, your monthly pension amount is $5570.
Thank you.
From India, Mumbai
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Dear Mr. Ravi & Mr. Mukund Kulkarni,
As per my calculation, there is a little difference: The average salary will be = 14900/- (15000*57 + 6500*3) / 60 = 14900. Since the 15k pension wages are effective from Sep '14, for calculating the 60 months average pension salary, 57 months (Sep '14 to May '19) of pension salary will be considered based on 15k, and 3 months (Jun '14 to Aug '14) of pension salary will be considered based on 6.5k.
Number of years = 15 Nov '95 to 31st May '19 = 24 years and 6.50 months = 25 years. Therefore, 25 years + 2 years bonus = 27 years. Pension should be = 14900 * 27 / 70 = 5747/-
I request Mr. Abbas (being an expert in PF Pension calculation) to shed more light on the matter.
Dear Mr. Mukund, we have made calculations based on our experience and knowledge. Please note that whenever you receive the pension, let us know the exact pension amount and share the calculation criteria as well so that we can make corrections.
Thanks.
From India, Delhi
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As per my calculation, there is a little difference: The average salary will be = 14900/- (15000*57 + 6500*3) / 60 = 14900. Since the 15k pension wages are effective from Sep '14, for calculating the 60 months average pension salary, 57 months (Sep '14 to May '19) of pension salary will be considered based on 15k, and 3 months (Jun '14 to Aug '14) of pension salary will be considered based on 6.5k.
Number of years = 15 Nov '95 to 31st May '19 = 24 years and 6.50 months = 25 years. Therefore, 25 years + 2 years bonus = 27 years. Pension should be = 14900 * 27 / 70 = 5747/-
I request Mr. Abbas (being an expert in PF Pension calculation) to shed more light on the matter.
Dear Mr. Mukund, we have made calculations based on our experience and knowledge. Please note that whenever you receive the pension, let us know the exact pension amount and share the calculation criteria as well so that we can make corrections.
Thanks.
From India, Delhi
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Sir i have attached pension sheet issued by epfo after retirement. Can anybody tell me how the pension amount is calculated.
From India, Calicut
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From India, Calicut
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PF & Pension Amdmt Scheme 2010 for IW.pdf