Dear all,
I have some queries. I had worked in one company for nearly 15 years (GOA). I have a PF Pension Letter, and it mentions that the pensionable salary is 4000/- per month. In another company, I have been working for 10 years (Ahmedabad) and I have to leave. My last basic salary is nearly 24500/- per month. At the time of joining the new company, I was offered a PF Pension Certificate from the earlier company, but they said that it is not required.
Now, do I need to produce Pension Certificates from the previous company and the current company (after receiving them) to the PF commission? If I opt for a pension (assuming that I am not continuing my profession), then please let me know the approximate total pension receivable. My age is 47 years.
Thanks and Regards,
MSMallya
From India, Vadodara
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I have some queries. I had worked in one company for nearly 15 years (GOA). I have a PF Pension Letter, and it mentions that the pensionable salary is 4000/- per month. In another company, I have been working for 10 years (Ahmedabad) and I have to leave. My last basic salary is nearly 24500/- per month. At the time of joining the new company, I was offered a PF Pension Certificate from the earlier company, but they said that it is not required.
Now, do I need to produce Pension Certificates from the previous company and the current company (after receiving them) to the PF commission? If I opt for a pension (assuming that I am not continuing my profession), then please let me know the approximate total pension receivable. My age is 47 years.
Thanks and Regards,
MSMallya
From India, Vadodara
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Dear M.S. Mallya,
For pension calculation, the following details are required:
1. Date of birth
2. Date of joining EPS
3. Date of exit from EPS
4. Break in service before and after 16.11.95
5. Salary on 16.11.95
6. Salary at the time of exit from EPS
7. Date of pension commencement (Minimum age to get pension is 50 years. For every year below the age of 58 years, 4% will be deducted from the pension).
Abbas. P.S
From India, Bangalore
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530For pension calculation, the following details are required:
1. Date of birth
2. Date of joining EPS
3. Date of exit from EPS
4. Break in service before and after 16.11.95
5. Salary on 16.11.95
6. Salary at the time of exit from EPS
7. Date of pension commencement (Minimum age to get pension is 50 years. For every year below the age of 58 years, 4% will be deducted from the pension).
Abbas. P.S
From India, Bangalore
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Hi,
Thanks for the quick reply. Here is some info needed:
1. 12/08/1963
2. Date of Joining EPS is not known, but Joined Service in July 1985 and worked until June 2000 in one company. From July 2000 till date, I have been with another company. I have a pension certificate for the first 15 years showing 4000/- per month.
3, 4, and 5 may be excluded if point 2 confirms that 4000/- is the pensionable salary.
6. My basic salary will be 24500/-. From this service, approximately how much can be the pensionable amount?
Point 7 is really informative.
Thanks again
From India, Vadodara
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Thanks for the quick reply. Here is some info needed:
1. 12/08/1963
2. Date of Joining EPS is not known, but Joined Service in July 1985 and worked until June 2000 in one company. From July 2000 till date, I have been with another company. I have a pension certificate for the first 15 years showing 4000/- per month.
3, 4, and 5 may be excluded if point 2 confirms that 4000/- is the pensionable salary.
6. My basic salary will be 24500/-. From this service, approximately how much can be the pensionable amount?
Point 7 is really informative.
Thanks again
From India, Vadodara
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(Fact Checked)-The user's reply is correct in outlining the necessary details for pension calculation under EPS (Employee Pension Scheme). (1 Acknowledge point)