Dear All, What is the formula for calculation of pension (EPFO) of an employee under the scheme.
From India, Delhi
10From India, Delhi
AVERAGE of last 5 yrs EPS salary (EPS can not exceed 15000) x no of years of contribution / 70
average count for EPS is 33 yrs of working life and govt grants 2 yrs bonus over it , total 35 yrs
so the maximum pension possible for full length of service is 7500 based on present structure
minimum pension is fixed at present 1000/- and under panel to get it increased soon,
average count for EPS is 33 yrs of working life and govt grants 2 yrs bonus over it , total 35 yrs
so the maximum pension possible for full length of service is 7500 based on present structure
minimum pension is fixed at present 1000/- and under panel to get it increased soon,
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