at the time of my resignation my salary was 30,000 per month .If I am eligible for eps 1995 and if yes what will be my monthly pension? Please reply to my quelr
From India, Mumbai
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From India, Mumbai
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Dear Mr. Sanjeev ji,
As per the PF Act, the pension calculation goes as below: Pensionable Salary * Pensionable Service / 70 (whatever the gross earnings of the employee, the pension slab will be the same).
Now, the Pensionable Salary is 6500. You have worked for around 18 years and 6 months. The number 70 stands for the maximum age limit of a person. So, as per my knowledge, it goes like this: 6500 * 19 / 70 = Rs. 1,764 approximately.
Apart from that, you will get PF Accumulations amount for the service (both employee and employer), Gratuity for your service in the organization, etc. You will be eligible for a pension after attaining 58 years of age. You need to apply for a Scheme Certificate by marking 'YES' in Form 10-C. After attaining this age, you may apply for the pension.
Note: PF authorities are willing to increase the slab for the pensionable salary from Rs. 6500 to Rs. 15,000, but it has not yet been finalized.
From India, Hyderabad
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18As per the PF Act, the pension calculation goes as below: Pensionable Salary * Pensionable Service / 70 (whatever the gross earnings of the employee, the pension slab will be the same).
Now, the Pensionable Salary is 6500. You have worked for around 18 years and 6 months. The number 70 stands for the maximum age limit of a person. So, as per my knowledge, it goes like this: 6500 * 19 / 70 = Rs. 1,764 approximately.
Apart from that, you will get PF Accumulations amount for the service (both employee and employer), Gratuity for your service in the organization, etc. You will be eligible for a pension after attaining 58 years of age. You need to apply for a Scheme Certificate by marking 'YES' in Form 10-C. After attaining this age, you may apply for the pension.
Note: PF authorities are willing to increase the slab for the pensionable salary from Rs. 6500 to Rs. 15,000, but it has not yet been finalized.
From India, Hyderabad
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Dear Sanjivji,
Kindly provide your date of birth. Only then can the calculation be done, as the pension calculation consists of two parts: service before 16.11.1995 and service on or after 16.11.1995.
For the first part, the date of birth is necessary. The calculation for the second part is as follows: 6500 x 17/70 = 1579.
Please share your date of birth.
Abbas.P.S
From India, Bangalore
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Kindly provide your date of birth. Only then can the calculation be done, as the pension calculation consists of two parts: service before 16.11.1995 and service on or after 16.11.1995.
For the first part, the date of birth is necessary. The calculation for the second part is as follows: 6500 x 17/70 = 1579.
Please share your date of birth.
Abbas.P.S
From India, Bangalore
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