Dear all any one can share pension 1995 calculation with detailed. PF office has been refused to share this information.
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Dear Mr. Mohanasundaram Subramani,
If you are a pensioner of EPS-95, you have the right to know the details of your pension through the Right to Information Act. Otherwise, please provide your Date of Birth (DOB), Date of Joining (DOJ), Date of Relieving, and salary details.
Best regards,
Abbas P. S
From India, Bangalore
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If you are a pensioner of EPS-95, you have the right to know the details of your pension through the Right to Information Act. Otherwise, please provide your Date of Birth (DOB), Date of Joining (DOJ), Date of Relieving, and salary details.
Best regards,
Abbas P. S
From India, Bangalore
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Thanks Abbas. Please find my information as follows:
Date of birth: 10.07.1958
Date of joining: 02.11.1981
Date of relieving: 31.07.2016
Salary on 16.11.1995: 4500 (basic + DA)
Salary on 31.07.2016: 42000 (basic)
I hope this information is sufficient for you to calculate my pension amount. Kindly let me know my pension amount.
Note: According to my calculation, my monthly pension will be Rs. 3715. However, based on the PF calculation, my monthly pension will be Rs. 2694. I have also attached an Excel file with my pension calculation.
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Date of birth: 10.07.1958
Date of joining: 02.11.1981
Date of relieving: 31.07.2016
Salary on 16.11.1995: 4500 (basic + DA)
Salary on 31.07.2016: 42000 (basic)
I hope this information is sufficient for you to calculate my pension amount. Kindly let me know my pension amount.
Note: According to my calculation, my monthly pension will be Rs. 3715. However, based on the PF calculation, my monthly pension will be Rs. 2694. I have also attached an Excel file with my pension calculation.
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Dear Mr. MOHANASUNDARAM_SUBRAMANI,
Your past service benefit is 509.
Pensionable service benefit will be bifurcated into two periods: from 16.11.95 to 31.08.2014 and from 01.09.2014 to 09.07.2016.
For the first part, the average salary is 6500, with approximately 18.8 years of service, resulting in a pension amount of 1744.
In the second part, the average salary for the preceding 60 months is 9616, with approximately 1.85 years of service, leading to a pension amount of 256.
The total pension combining both parts amounts to 2703. Further details can be obtained by writing to EPFO under the RTI act.
Abbas.P.S
From India, Bangalore
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Your past service benefit is 509.
Pensionable service benefit will be bifurcated into two periods: from 16.11.95 to 31.08.2014 and from 01.09.2014 to 09.07.2016.
For the first part, the average salary is 6500, with approximately 18.8 years of service, resulting in a pension amount of 1744.
In the second part, the average salary for the preceding 60 months is 9616, with approximately 1.85 years of service, leading to a pension amount of 256.
The total pension combining both parts amounts to 2703. Further details can be obtained by writing to EPFO under the RTI act.
Abbas.P.S
From India, Bangalore
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Dear Sir,
As per your calculation, the past service benefits calculation seems to be correct. However, I have these two queries:
1. What about the 2 years additional service benefit eligible for an employee whose service is 20 years or more after 15.11.1995? How is this benefit calculated?
2. According to the EPS Rules, under Para 12, it is stated that the average salary of the past 60 months should be considered for an existing member from the date of his superannuation.
In the above situation, please inform me how much the pension should be in the following case:
Date of Birth: 20.12.1959
Date of Joining: 01.12.1989
Date of Leaving: 20.12.2017
Maximum wages on respective dates: Rs. 5,000, Rs. 6,500, and Rs. 15,000/-
Kindly guide me on how the pension in the above case is calculated.
Thank you.
From India, Mumbai
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As per your calculation, the past service benefits calculation seems to be correct. However, I have these two queries:
1. What about the 2 years additional service benefit eligible for an employee whose service is 20 years or more after 15.11.1995? How is this benefit calculated?
2. According to the EPS Rules, under Para 12, it is stated that the average salary of the past 60 months should be considered for an existing member from the date of his superannuation.
In the above situation, please inform me how much the pension should be in the following case:
Date of Birth: 20.12.1959
Date of Joining: 01.12.1989
Date of Leaving: 20.12.2017
Maximum wages on respective dates: Rs. 5,000, Rs. 6,500, and Rs. 15,000/-
Kindly guide me on how the pension in the above case is calculated.
Thank you.
From India, Mumbai
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(Fact Checked)-The user's reply contains accurate information regarding the calculation of pension benefits under the EPS Rules. The queries raised are relevant and correctly aligned with the pension calculation guidelines. (1 Acknowledge point)
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Dear Swetley,
Kindly go through my above post thoroughly. You will get the answers to your 2 doubts. The pension for the above particulars is Rs. 3001, which is calculated as follows:
1) Past service benefit, 85x5.649 = 480 - (A)
2) Pension till 31.8.2014, 6500x18.786/70 = 1744 - (B)
3) Pension w.e.f 1.9.2014 to 19.12.2017, 12025x3.304/70 = 568 - (C)
(B) + (C) = 1744 + 568 = 2312 - (D)
With 2 years bonus, 2312x24.09/22.09 = 2521 - (E)
Total Pension (A) + (E) = 480 + 2521 = 3001 - (F)
Abbas.P.S
From India, Bangalore
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Kindly go through my above post thoroughly. You will get the answers to your 2 doubts. The pension for the above particulars is Rs. 3001, which is calculated as follows:
1) Past service benefit, 85x5.649 = 480 - (A)
2) Pension till 31.8.2014, 6500x18.786/70 = 1744 - (B)
3) Pension w.e.f 1.9.2014 to 19.12.2017, 12025x3.304/70 = 568 - (C)
(B) + (C) = 1744 + 568 = 2312 - (D)
With 2 years bonus, 2312x24.09/22.09 = 2521 - (E)
Total Pension (A) + (E) = 480 + 2521 = 3001 - (F)
Abbas.P.S
From India, Bangalore
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Dear Mr. Abbas P.S.,
Thank you for your prompt and clear calculations. However, can you enlighten on the following:
a) How is the Rs. 12,025/- arrived under Point No. 2?
b) You have calculated separately for the period from 15.11.95 to 31.8.2014 and from 01.09.2014 to 19.12.2017. But under Paragraph 11 of EPS Scheme, the Pensionable Salary is the past 60 months' average salary preceding the date of exit. Therefore, my understanding is that as per the above Paragraph, only the average salary of the past 60 months is to be considered for the entire service from 15.11.1995 to 19.12.2017. Is this understanding correct? Or does it specify anywhere to separately calculate for two periods? If that is the case, then the salary from 16.11.95 to 31.05.2001 was Rs. 5,000/-, and why is it taken as 6,500/- for that period?
Hope you will shed some light on the above for better clarity and understanding of this complicated scheme.
Thank you
From India, Mumbai
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Thank you for your prompt and clear calculations. However, can you enlighten on the following:
a) How is the Rs. 12,025/- arrived under Point No. 2?
b) You have calculated separately for the period from 15.11.95 to 31.8.2014 and from 01.09.2014 to 19.12.2017. But under Paragraph 11 of EPS Scheme, the Pensionable Salary is the past 60 months' average salary preceding the date of exit. Therefore, my understanding is that as per the above Paragraph, only the average salary of the past 60 months is to be considered for the entire service from 15.11.1995 to 19.12.2017. Is this understanding correct? Or does it specify anywhere to separately calculate for two periods? If that is the case, then the salary from 16.11.95 to 31.05.2001 was Rs. 5,000/-, and why is it taken as 6,500/- for that period?
Hope you will shed some light on the above for better clarity and understanding of this complicated scheme.
Thank you
From India, Mumbai
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(Fact Checked)-The user's reply contains correct information regarding the calculation of pensionable salary under the EPS Scheme based on the past 60 months' average salary. No amendment is needed. (1 Acknowledge point)
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Dear Swetley,
Regarding Rs. 12025/-, this is the average salary of the 60 months preceding December 2017. That is, (15000x39 + 6500x21)/60 = (585000+136500)/60 = 721500/60. My calculation is in accordance with EPFO circular no. Actuarial/18(2)2008/Vol.III/7738. I shall reproduce the circular as follows. If you have any disputes, kindly take them up with EPFO.
Abbas.P.S
From India, Bangalore
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Regarding Rs. 12025/-, this is the average salary of the 60 months preceding December 2017. That is, (15000x39 + 6500x21)/60 = (585000+136500)/60 = 721500/60. My calculation is in accordance with EPFO circular no. Actuarial/18(2)2008/Vol.III/7738. I shall reproduce the circular as follows. If you have any disputes, kindly take them up with EPFO.
Abbas.P.S
From India, Bangalore
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Dear Mr. Abbas P.S. Thank you so much for clearly informing about the Pension Calculation. You made this complicated method very simple to understand. Thank you once again.
From India, Mumbai
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From India, Mumbai
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In the notification that was attached by us, can you please explain point 8 which says, "As EPS will henceforth apply only to EPF members whose pay at the time of becoming PF member is not more than Rs 15,000/- per month on or after 01.09.2014, the entire employer and employee contribution shall remain in the Provident Fund, and no diversion to EPS shall be made to all new PF members on or after 01.09.2014 having a salary more than Rs 15,000/- at the time of joining."
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(Fact Checked)-[The calculations provided in the user's reply are accurate for determining the pension amount based on the details shared. Kindly proceed with the steps outlined. Thank you for the detailed breakdown.] (1 Acknowledge point)