Hello everybody,
I am working in an MNC and I want to know how to calculate the pension in the current accumulation of PF and EPF amount and the number of years of service. I would also like to know how the superannuation amount contribution is helping in pension.
Regards,
Vinod
From India, Pune
1I am working in an MNC and I want to know how to calculate the pension in the current accumulation of PF and EPF amount and the number of years of service. I would also like to know how the superannuation amount contribution is helping in pension.
Regards,
Vinod
From India, Pune
Hello,
From the employee, 12% of the basic salary, which is Rs 1,200,000, goes to the Provident Fund. From the employer's side, 8.33% of the basic salary goes to the pension, and 3.67% of the basic salary goes to the Provident Fund. However, if the basic salary is more than Rs. 6,500, then the pension contribution is capped at Rs. 541.
For example, if the basic salary is Rs 1,200,000, 12% of it is Rs 144,000. Out of this amount, Rs 541 goes to the pension fund, and the remaining amount, which is Rs 143,459, goes to the Provident Fund.
I hope this explanation clears up any doubts.
Regards,
Sandhya
From India, Ranchi
From the employee, 12% of the basic salary, which is Rs 1,200,000, goes to the Provident Fund. From the employer's side, 8.33% of the basic salary goes to the pension, and 3.67% of the basic salary goes to the Provident Fund. However, if the basic salary is more than Rs. 6,500, then the pension contribution is capped at Rs. 541.
For example, if the basic salary is Rs 1,200,000, 12% of it is Rs 144,000. Out of this amount, Rs 541 goes to the pension fund, and the remaining amount, which is Rs 143,459, goes to the Provident Fund.
I hope this explanation clears up any doubts.
Regards,
Sandhya
From India, Ranchi
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