I have been member of FPF from my date of Joining ie 1/12/1973. Eff 16/11/1995, I have been contributing @ 8.33% of my salary ( Basic plus DA ) which was beyond Rs 6500 & Rs 15000 limit of PF. My date of retirement is 31-10-1953. Pl advice me pension receivable by me on my last drawn salary for last 3 years before retirement of Rs 125000 ( Basic +DA)
Is there any Maximum limit to pension under EPS 95 & impact of Kerala High court judgement
From India, Mumbai
2Is there any Maximum limit to pension under EPS 95 & impact of Kerala High court judgement
From India, Mumbai
Sorry date of retirement is 31-10-2011. I have been contributing to EPS more than the statutory ceiling so as to draw higher pension
From India, Mumbai
From India, Mumbai
From 1995 to 2011 your pension will be roughly years of pensionable service (no years you have contributed to EPS) X pensionable salary ( the EPF wage on which epf contribution is deducted-Average of 12 months preceeding retirement- from 2014 september it is average of 60 months EPF wage) all divided by seventy, for period upto 19995 Nov, you will get a lumsum peanut amount as per a chart. For exact calculation search on this site for an XL sheet posted by iit abbas may be 3 years back.
From India, Thane
From India, Thane
From 1995 to till your retirement (58 years) your contribution towards EPS was restricted to Rs.6500/= pm and whatever excess contribution you would have paid over and above Rs.6500/= in EPS account would have been transferred to your EPF account and displayed in your annual statement for every year. Even if any one is working after reaching retirement age of 58 years, no contribution would be credited to EPS account but the entire contribution including that of EPS would be credited to EPF account only and for which interest as per the prevailing rates would have been paid. In your case you can check your old EPF annual slips and if you found that, the interest has not been credited to your EPF account for the difference between your actual EPS wages and Rs.6500/= in any year, you can appeal to your area EPFO for reconsideration of your pension amount,
M Venkatraghavan
From India, Selam
M Venkatraghavan
From India, Selam
Dear Mr. MKS,
As you were contributing more than wages Rs. 6500/- for EPS, you are entailed to receive higher benefit towards EPS,i.e. average 12 mths wages as on retirement date / 70 * No of yrs service after Nov1995. Plus as per formula service for past service.
In 1995, you should have given declaration that you are paying on higher contribution.
The average 60 mths wages is effective from Sept 2014 onwards. Previously it was for 12 mths only.
You have completed 58 yrs in 2011 and till date you have not claimed for EPS 1995 Pension ?
Thanks,
Vidyadhar Bhat
From India, Pune
As you were contributing more than wages Rs. 6500/- for EPS, you are entailed to receive higher benefit towards EPS,i.e. average 12 mths wages as on retirement date / 70 * No of yrs service after Nov1995. Plus as per formula service for past service.
In 1995, you should have given declaration that you are paying on higher contribution.
The average 60 mths wages is effective from Sept 2014 onwards. Previously it was for 12 mths only.
You have completed 58 yrs in 2011 and till date you have not claimed for EPS 1995 Pension ?
Thanks,
Vidyadhar Bhat
From India, Pune
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Epf circular on full salary 230317 Pension on full salary as per SC order 23.3.2017.pdf
EPS-Explanation on full salary for Pension-Gist of SC judgment on KeralaHC.docx