Dear all
please tell me the figure 70 which is divided in PF pension calculation i.e.
Pensionable salary * Pensionable service
_________________________________
70
What method or logic used by pension committe behind this
From India, Aurangabad
please tell me the figure 70 which is divided in PF pension calculation i.e.
Pensionable salary * Pensionable service
_________________________________
70
What method or logic used by pension committe behind this
From India, Aurangabad
Dear friends,
In Service pension 50% is applicable for 33yrs service. In EPS-95, 2yrs bonus will be added to 20yrs & more. Accordingly for 33yrs service, pensionable service is 33+2=35. To get 50% pension in EPS-95, the dividing factor should be 70.
But in Service pension, maxim pension is restricted to 50%.
But there is no such restriction in EPS-95.
Abbas.P.S,
ITI LTD,
PALAKKAD - 678 623.
Ph. +91 9447 467 667.
From India, Bangalore
517In Service pension 50% is applicable for 33yrs service. In EPS-95, 2yrs bonus will be added to 20yrs & more. Accordingly for 33yrs service, pensionable service is 33+2=35. To get 50% pension in EPS-95, the dividing factor should be 70.
But in Service pension, maxim pension is restricted to 50%.
But there is no such restriction in EPS-95.
Abbas.P.S,
ITI LTD,
PALAKKAD - 678 623.
Ph. +91 9447 467 667.
From India, Bangalore
Dear friends,
In Service pension 33yrs is required to get 50% pension. (This condition was prevailed at the time of introduction of EPS in 1995. Present condition I am not sure).
Those who completed 20yrs or more service in EPS are eligible to get an additional service of 2yrs. Accordingly for 33yrs, pensionable service will be 33+2=35yrs. To get 50%, 35 is to be divided by 70.
In service pension, pension is restricted to 50%. But in EPS, there is no such ceiling limit.
Abbas.P.S,
ITI LTD, PALAKKAD - 678 623.
Ph. +91 9447 467 667
From India, Bangalore
In Service pension 33yrs is required to get 50% pension. (This condition was prevailed at the time of introduction of EPS in 1995. Present condition I am not sure).
Those who completed 20yrs or more service in EPS are eligible to get an additional service of 2yrs. Accordingly for 33yrs, pensionable service will be 33+2=35yrs. To get 50%, 35 is to be divided by 70.
In service pension, pension is restricted to 50%. But in EPS, there is no such ceiling limit.
Abbas.P.S,
ITI LTD, PALAKKAD - 678 623.
Ph. +91 9447 467 667
From India, Bangalore
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