I joined FPS scheme on 01.07.1973 and continued under the 1995 scheme until my retirement on 01.03.2012. My contributions were continuous as per the scheme until retirement. My salary was above Rs 2500 as of 01.07.1995 and remained above Rs 6500 until retirement from 01.07.1995. There was no break in service or scheme, and no benefits have been taken. I would like to know what my family pension receivable will be.
Thanks and Regards,
Rajendra R
From India, Bengaluru
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Thanks and Regards,
Rajendra R
From India, Bengaluru
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Please specify whether the contribution to EPS was on an actual basis or limited to the prevailing wage ceiling under the PF Act 1952 from time to time. Also, when you attained 58 years of age and retired on 01.03.12, you should have received a pension from that time at least; already 5 years have passed. Please contact your local PF office where the contributions were being made by your employer. You are entitled to receive arrears from 2012.
Pension is calculated as per the formula: Pensionable Salary multiplied by Pensionable service divided by 70. The Pensionable salary is the average of the last 12 months' salary on which the EPS contribution was deducted by the employer. Pensionable service is the number of years of service since 1995, and for your past service from 1973 to 1995, you would have two years added to the pensionable service period.
From India, Mumbai
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1593Pension is calculated as per the formula: Pensionable Salary multiplied by Pensionable service divided by 70. The Pensionable salary is the average of the last 12 months' salary on which the EPS contribution was deducted by the employer. Pensionable service is the number of years of service since 1995, and for your past service from 1973 to 1995, you would have two years added to the pensionable service period.
From India, Mumbai
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I thank and appreciate Mr. KK, HR, for the instant reply. I clarify as follows for the queries:
1. I turned 58 years old on 20.02.2010 (my DOB is 20/02/1952).
2. My contribution was within the limited wage ceilings as per the PF Act.
3. I received arrears from 2010, and the FPS per month has been fixed at Rs. 2029. I am unsure if this pension amount is correct. I was expecting a higher FPS per month. I kindly request if anybody can verify the calculation.
Thanks and Regards, RAJENDRA R.
From India, Bengaluru
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1. I turned 58 years old on 20.02.2010 (my DOB is 20/02/1952).
2. My contribution was within the limited wage ceilings as per the PF Act.
3. I received arrears from 2010, and the FPS per month has been fixed at Rs. 2029. I am unsure if this pension amount is correct. I was expecting a higher FPS per month. I kindly request if anybody can verify the calculation.
Thanks and Regards, RAJENDRA R.
From India, Bengaluru
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