Dear Sir /Madam please tell me if a candidate is illegible for pension how many % pension will give him. From Amit
From India, New Delhi
From India, New Delhi
604
sir please tell me that if a candidate eligible for pension .how many percent (%) pension is given to him .what is the minimum rate of pension .
From India, New Delhi
From India, New Delhi
Dear Sir, just one spelling mistake doesn't make it wrong English or an entirely different language. First of all, this is not our first language, secondly, much time would have been saved if you provided the answer rather than writing something not relevant.
The person who asks a question on the forum, comes with a great expectations and must be checking his post again and again to know if someone has answered his query.
Please try n understand!
From India, Chandigarh
The person who asks a question on the forum, comes with a great expectations and must be checking his post again and again to know if someone has answered his query.
Please try n understand!
From India, Chandigarh
Dear Amit,
As per my knowledge, Pension is computed under PF only and the percentage is 8.33 %. For a clear understanding, please find below:
PF Contribution Rate
Employee (12%):-
12% of monthly basic is paid by the employee towards Provident Fund.
Employer (13.61%) :-
Employee Provident Fund 3.67% of monthly basic
EPF A/c Administrative charges 1.10% of monthly basic
Pension Fund 8.33% of monthly basic
Employee Deposit Link Insurance 0.5% of monthly basic
Administrative charges on EDLI 0.01% of monthly basic
Note:-
In the EPF deposit challan the amounts are to be mentioned in respect as under.
A/C No.1 – EPF [3.67% of employer share & 12% of employee contribution]
A/C No.2 – Administrative charges [1.1% of salary on which EPF deducted]
A/C No.10 – FPF [8.33% of employer share of contribution]
A/C No.21 – EDLI [0.5% of salary on which EPF deductions were made]
A/C No.22 – Administrative charges on EDLI [0.01% of salary on which EPF deductions were made].
From India, Chandigarh
As per my knowledge, Pension is computed under PF only and the percentage is 8.33 %. For a clear understanding, please find below:
PF Contribution Rate
Employee (12%):-
12% of monthly basic is paid by the employee towards Provident Fund.
Employer (13.61%) :-
Employee Provident Fund 3.67% of monthly basic
EPF A/c Administrative charges 1.10% of monthly basic
Pension Fund 8.33% of monthly basic
Employee Deposit Link Insurance 0.5% of monthly basic
Administrative charges on EDLI 0.01% of monthly basic
Note:-
In the EPF deposit challan the amounts are to be mentioned in respect as under.
A/C No.1 – EPF [3.67% of employer share & 12% of employee contribution]
A/C No.2 – Administrative charges [1.1% of salary on which EPF deducted]
A/C No.10 – FPF [8.33% of employer share of contribution]
A/C No.21 – EDLI [0.5% of salary on which EPF deductions were made]
A/C No.22 – Administrative charges on EDLI [0.01% of salary on which EPF deductions were made].
From India, Chandigarh
Dear Madam/sir But I can,t Understand the Percentage(%) of Pension Fund . please tell me how many %(Percent ) pension will give him after his completion period .
From India, New Delhi
From India, New Delhi
Pension is deducted every month from salary just like PF and the sum total amount of services rendered is received by employee on resignation/ on separation from the organisation.
For example, An employee Mr. A is working with an organisation from 8 years and then resigns from employment. Now, the company will pay him Pension along with PF amount (sum total for the period of 8 years), which was deducted from his salary month on month along with the contribution of employer.
This total amount will be paid to Mr. A during Full n Final Settlement i.e. other components like Gratuity, Bonus, etc. will be involved in payments along with PF & Pension.
From India, Chandigarh
For example, An employee Mr. A is working with an organisation from 8 years and then resigns from employment. Now, the company will pay him Pension along with PF amount (sum total for the period of 8 years), which was deducted from his salary month on month along with the contribution of employer.
This total amount will be paid to Mr. A during Full n Final Settlement i.e. other components like Gratuity, Bonus, etc. will be involved in payments along with PF & Pension.
From India, Chandigarh
Dear Amit,
Your question is not clear. Whether you are interested to know how much pension will get the employee after his retirement or what. If it is the case, thepension will be paid only after attaining the age of 58 years subject to completion of pensionable service which is present 10 years. The computation of pension isn having formula which cannot be predicted now. It will be worked out only based on the employees service, pensionable salary at the time of joining, and at the time of retirement and age. All these things are taking into consideration.
Presently who are completed the pensionable service ie 10 years and become the member of Pension Scheme 1995 (ofcourse this is compulsory) and as on date presume completed 14 yearts of pensionable service the retired person will get apprx Rs. 1300 to 1400 per month.
Any doubts you have to ask in this thread come out with the facts so that experts can give suitable advice. based on the facts and not on any presumption or assumption.
Hope matter is stands cleared to you.
Adoni Suguresh
Sr.Executive (Personnel, Admin & Ind.Rels) Rtd
Labour Laws Consultant
From India, Bidar
Your question is not clear. Whether you are interested to know how much pension will get the employee after his retirement or what. If it is the case, thepension will be paid only after attaining the age of 58 years subject to completion of pensionable service which is present 10 years. The computation of pension isn having formula which cannot be predicted now. It will be worked out only based on the employees service, pensionable salary at the time of joining, and at the time of retirement and age. All these things are taking into consideration.
Presently who are completed the pensionable service ie 10 years and become the member of Pension Scheme 1995 (ofcourse this is compulsory) and as on date presume completed 14 yearts of pensionable service the retired person will get apprx Rs. 1300 to 1400 per month.
Any doubts you have to ask in this thread come out with the facts so that experts can give suitable advice. based on the facts and not on any presumption or assumption.
Hope matter is stands cleared to you.
Adoni Suguresh
Sr.Executive (Personnel, Admin & Ind.Rels) Rtd
Labour Laws Consultant
From India, Bidar
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