Get HR Software

No Tags Found!


Pf Pension calculation formula


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.


India, Hyderabad
07 June 2019 05.30.41 AM
Views: 1279 Replies: 1 Appreciations: 0
#Pension Calculation
The EPS 95 Pension calculation procedure by the EPFO appears in an incorrect way
19-12-2018 | India, Secunderabad
EPS calculation
20-08-2019 | India, Ahmedabad
Fpf pension calculation - 34 years Service period and pension amount Rs.3384
03-07-2020 | India
#Pf Pension
PF pension age - over age pension deposit - age had crossed 58 even then his pension contribution did not stop
20-02-2023 | India, Delhi
Can I withdraw the PF pension after 10.5 years of serivce?
08-04-2023 | India, Mumbai
If A employees register in PF at the age of 53 is the employees entitled for pension scheme?
06-05-2023 | India, Delhi
#Hr Documents
Bonus During Notice Period
30-09-2015 | United States, Los Angeles
New Company With Same Staff And Management
08-03-2016
After 10 Years Of HR Experience Now I Have Started Something For Society
16-08-2016




Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.