I HAVE COME TO KNOW THAT THERE IS SOME AMENDMENT IN THE THE EMPLOYEE PENSION SCHEME,1995. CAN ANYONE TELL WHAT ARE THESE AMENDMENTS ? REGDS, VIKRAM SINGH
From India, Delhi
107From India, Delhi
Dear All, Please find the copy of the latest amendment in the Pension Scheme attached herewith.........
From India, Delhi
From India, Delhi
my father has taken retirement on 31/12/2003, and his pension is starting from 1/7/2008 , first pension came on 8/8/2008, will u plz tell me which factor table will be used for calculating his pension... should i use old table B or the new amended table B...as his current pension is less as per my computation... i want to file an application for the revision plz tell me which table to use
From India, Patiala
From India, Patiala
Dear Pramod Redhu,
For Pension calculation the following details are required.
1. Date of Birth
2. Date of Join in EPF
3. Break in service before 16.11.95
4. Break in service after 16.11.95
5. Salary on 16.11.95
6. Salary at the time of Exit
From the available details I have reached to a conclusion as
1. Your service before 16.11.95 is 17 yrs
2. Service after 16.11.95 is 1 yr
As you are below 48 yrs age on 16.11.95, you are entitled to get minimum pension as follows.
1. In case your salary on 16.11.95 is below 2500/-
Past Service Benifit - 120x4.844 = 581
Pensionable Service Benefit - 635
Total = 1216/- (Subject to a minimum of 800/-) for 24 yrs' service.
For 18 yrs - 1216x18/24 = 912 (Subject to minimum 450/-)
2. If salary on 16.11.95 is 2500/- or above
Past Service Benefit - 135x4.844 = 654
Pensionable Service Benefit - 635
Total = 1289 for 24 yrs
For 18 yrs = 967
i.e. Either you will get 912 (for below 2500/- on 16.11.95) or 967 (for 2500/- & above on 16.11.95) on completion of 58 yrs age.
Those who are not in service with PF applicablity, can avail pension from the age 50 yrs onwards. But for each year they will be deducted 4%. For example if you opt for pension now, at 51 yrs; multiplying factor on pension will be 0.96 to the power of 7 = 0.885
Therefore reduced pension at 51 yrs = 912x0.885=807 or 967x0.885=856.
Abbas.P.S, ITI Ltd, Palakkad - 678 623.
Ph. +91 9447 467 667
From India, Bangalore
For Pension calculation the following details are required.
1. Date of Birth
2. Date of Join in EPF
3. Break in service before 16.11.95
4. Break in service after 16.11.95
5. Salary on 16.11.95
6. Salary at the time of Exit
From the available details I have reached to a conclusion as
1. Your service before 16.11.95 is 17 yrs
2. Service after 16.11.95 is 1 yr
As you are below 48 yrs age on 16.11.95, you are entitled to get minimum pension as follows.
1. In case your salary on 16.11.95 is below 2500/-
Past Service Benifit - 120x4.844 = 581
Pensionable Service Benefit - 635
Total = 1216/- (Subject to a minimum of 800/-) for 24 yrs' service.
For 18 yrs - 1216x18/24 = 912 (Subject to minimum 450/-)
2. If salary on 16.11.95 is 2500/- or above
Past Service Benefit - 135x4.844 = 654
Pensionable Service Benefit - 635
Total = 1289 for 24 yrs
For 18 yrs = 967
i.e. Either you will get 912 (for below 2500/- on 16.11.95) or 967 (for 2500/- & above on 16.11.95) on completion of 58 yrs age.
Those who are not in service with PF applicablity, can avail pension from the age 50 yrs onwards. But for each year they will be deducted 4%. For example if you opt for pension now, at 51 yrs; multiplying factor on pension will be 0.96 to the power of 7 = 0.885
Therefore reduced pension at 51 yrs = 912x0.885=807 or 967x0.885=856.
Abbas.P.S, ITI Ltd, Palakkad - 678 623.
Ph. +91 9447 467 667
From India, Bangalore
DEAR ABBAS
I AM GIVING MY DETAILS BELOW, WHAT AMOUNT I SHOULD GET AS PENSION.
1. Date of Birth : 06-08-1951
2. Date of Join in EPF : 01-12-1974
3. Break in service before 16.11.95 : NIL
4. Break in service after 16.11.95 : NIL
5. Salary on 16.11.95 > 5000
6. Salary at the time of Exit > 50000.
BY ENTERING ABOVE DETAILS IN THE EXEL SHEET YOU HAVE PROVIDED. I SHOULD GET RS. 1780/- AS PENSION. BUT, I HAVE RECEIVED P.P.O. AND IN THAT AMOUNT OF PENSION IS RS. 1687/- KINDLY ADVISE ME.
G R BAVARVA
From India, Ahmadabad
I AM GIVING MY DETAILS BELOW, WHAT AMOUNT I SHOULD GET AS PENSION.
1. Date of Birth : 06-08-1951
2. Date of Join in EPF : 01-12-1974
3. Break in service before 16.11.95 : NIL
4. Break in service after 16.11.95 : NIL
5. Salary on 16.11.95 > 5000
6. Salary at the time of Exit > 50000.
BY ENTERING ABOVE DETAILS IN THE EXEL SHEET YOU HAVE PROVIDED. I SHOULD GET RS. 1780/- AS PENSION. BUT, I HAVE RECEIVED P.P.O. AND IN THAT AMOUNT OF PENSION IS RS. 1687/- KINDLY ADVISE ME.
G R BAVARVA
From India, Ahmadabad
Dear Bavara,
Two more details I want.
1) Date of Exit from Service
2) Date of Pension availed
Note : If you have continued in service till the completion of 58 yrs & availed pension there after, you may contact the Office of the Regional PF Commissioner and inform me their response.
Abbas
From India, Bangalore
Two more details I want.
1) Date of Exit from Service
2) Date of Pension availed
Note : If you have continued in service till the completion of 58 yrs & availed pension there after, you may contact the Office of the Regional PF Commissioner and inform me their response.
Abbas
From India, Bangalore
DEAR ABBAS,
BELLOW IS THE DETAILS AS I FORGOT TO SUBMIT, SORRY.
1) Date of Exit from Service : I AM STILL IN SERVICE UP TO 31-08-2011.
2) Date of Pension availed :MY PENSION IS STARTED FROM 06-08-2009, AND PAID WITH AREARS IN MARCH/APRIL 2010 IN MY BANK ACCOUNT.
I HAD GIVEN APPLICATION AT PENSION OFFICE SURAT, REGARDING BUT TILL DATE NO ANSWER RECEIVED FROM THEM.
REGARDS
G R BAVARVA
From India, Ahmadabad
BELLOW IS THE DETAILS AS I FORGOT TO SUBMIT, SORRY.
1) Date of Exit from Service : I AM STILL IN SERVICE UP TO 31-08-2011.
2) Date of Pension availed :MY PENSION IS STARTED FROM 06-08-2009, AND PAID WITH AREARS IN MARCH/APRIL 2010 IN MY BANK ACCOUNT.
I HAD GIVEN APPLICATION AT PENSION OFFICE SURAT, REGARDING BUT TILL DATE NO ANSWER RECEIVED FROM THEM.
REGARDS
G R BAVARVA
From India, Ahmadabad
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