Dear all any one can share pension 1995 calculation with detailed. PF office has been refused to share this information.
5
Thanks Abbas and please find my information as follows
Date of birth 10.07.1958
Date of joining 02.11.1981
Date of relievivng 31.07.2016
Salary on 16.11.1995 = > 4500 ( baisc + da)
Salary on 31.07.2016 = 42000 ( basic)
Hope this information may enough for you for find my pension amt and kindly let me know my pension amt
Note: as per my calculation my monthly pension will be Rs. 3715
but, as per PF calculation of my monthly pension Rs. 2694
and also attached xle file of my pension calculation
Date of birth 10.07.1958
Date of joining 02.11.1981
Date of relievivng 31.07.2016
Salary on 16.11.1995 = > 4500 ( baisc + da)
Salary on 31.07.2016 = 42000 ( basic)
Hope this information may enough for you for find my pension amt and kindly let me know my pension amt
Note: as per my calculation my monthly pension will be Rs. 3715
but, as per PF calculation of my monthly pension Rs. 2694
and also attached xle file of my pension calculation
Dear Mr. MOHANASUNDARAM_SUBRAMANI,
Your past service benefit is 509 - (1)
Pensionable service benefit will be get bifurcated into two, viz. 16.11.95 to 31.08.2014 and 01.09.2014 to 09.07.2016
1st part, average salary is 6500, service is 18.8 yrs (approx.), pension amount is 1744 - (2)
2nd part, average salary for preceding 60 months is 9616/- & service 1.85 yrs (approx), pension amount is 256 - (3)
(2) + (3) = 2000 for 20.65 yrs, with 2 yrs bonus, 2000 x 22.65/20.65 = 2194 - (4)
Total pension (1) + (4) = 2703. For details kindly write to EPFO under RTI act.
Abbas.P.S
From India, Bangalore
Your past service benefit is 509 - (1)
Pensionable service benefit will be get bifurcated into two, viz. 16.11.95 to 31.08.2014 and 01.09.2014 to 09.07.2016
1st part, average salary is 6500, service is 18.8 yrs (approx.), pension amount is 1744 - (2)
2nd part, average salary for preceding 60 months is 9616/- & service 1.85 yrs (approx), pension amount is 256 - (3)
(2) + (3) = 2000 for 20.65 yrs, with 2 yrs bonus, 2000 x 22.65/20.65 = 2194 - (4)
Total pension (1) + (4) = 2703. For details kindly write to EPFO under RTI act.
Abbas.P.S
From India, Bangalore
Dear Sir, As per your calculation, past service benefits calculation seems to be right. However, I have these two queries -
1. What about the 2 years additional service benefit eligible for an employee whose service is 20 years and more after 15.11.1995. How this benefit is calculated?
2. As per the EPS Rules, Under Para 12, it is stated that past 60 months average salary should be taken into consideration for an existing member from the date of his superannuation.
IN the above situation, kindly inform me how much should be the Pension in the following case:
Date of Birth: 20.12.1959 Date of Joining is 01.12.1989 and Date of Leaving is 20.12.2017 with maximum wages of Rs.5,000, Rs. 6,500 and Rs.15,000/- on respective dates.
Kindly guide me how the Pension in the above case is calculated.
From India, Mumbai
1. What about the 2 years additional service benefit eligible for an employee whose service is 20 years and more after 15.11.1995. How this benefit is calculated?
2. As per the EPS Rules, Under Para 12, it is stated that past 60 months average salary should be taken into consideration for an existing member from the date of his superannuation.
IN the above situation, kindly inform me how much should be the Pension in the following case:
Date of Birth: 20.12.1959 Date of Joining is 01.12.1989 and Date of Leaving is 20.12.2017 with maximum wages of Rs.5,000, Rs. 6,500 and Rs.15,000/- on respective dates.
Kindly guide me how the Pension in the above case is calculated.
From India, Mumbai
Dear Swetley,
Kindly go thr' my above post thoroughly. You will get the answers for your 2 doubts.
Pension for above particulars is Rs. 3001, which is arrived as under.
I) 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
Kindly go thr' my above post thoroughly. You will get the answers for your 2 doubts.
Pension for above particulars is Rs. 3001, which is arrived as under.
I) 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
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 past 60 months average salary preceding the date of exit. Therefore, my understanding is that as per the above Paragraph the average salary of past 60 months only 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 it is taken as 6,500/- for that period.
Hope you will throw some light on the above for better clarity and understanding of this complicated scheme.
Thank you
From India, Mumbai
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 past 60 months average salary preceding the date of exit. Therefore, my understanding is that as per the above Paragraph the average salary of past 60 months only 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 it is taken as 6,500/- for that period.
Hope you will throw some light on the above for better clarity and understanding of this complicated scheme.
Thank you
From India, Mumbai
Dear Swetley,
a) Regarding Rs. 12025/- is the average salary of 60months preceding to 2017 December. I.e (15000x39 + 6500x21)/60 = (585000+136500)/60 = 721500/60.
My calculation is in accordance with the EPFO circular no. Actuarial/18(2)2008/Vol.IlI/7738. I shall reproduce the circular as under. If you have any dispute, kindly take up with EPFO.
Abbas.P.S
From India, Bangalore
a) Regarding Rs. 12025/- is the average salary of 60months preceding to 2017 December. I.e (15000x39 + 6500x21)/60 = (585000+136500)/60 = 721500/60.
My calculation is in accordance with the EPFO circular no. Actuarial/18(2)2008/Vol.IlI/7738. I shall reproduce the circular as under. If you have any dispute, kindly take up with EPFO.
Abbas.P.S
From India, Bangalore
In the notification that was attached by us, can you please explain point 8 which says that "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 salary more than 15,000/- at the time of joining."
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