No Tags Found!


siripurapurajesh9@gmail.com
Dear All,
I have a small doubt in Pf Pension calculation formula.
Please explain the doubt i have
that is Formula is Average salary X No.of year service / 70.
"Why 70 is taken for dividing."
Regards
Rajesh S

From India, Hyderabad
Glidor
632

70 is nothing but a math figure only
Labor department makes ensure that the employee can work max 35 yrs and pension would be 50% of the last wages , so 35 /70 formula is applied, there are many more catches within the scheme but 70 is just a number to get the percentile of the payable amount


Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.





Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.