The EPS 95 pensionable salary is calculated on the basis of average salary of 60 months immediately before the retirement date. In such a case, this 60 months period contains some NCD. As per my knowledgeable, the NCD effects pensionable service determination.
Kindly confirm whether these NCD also effect the calculation of pensionable salary? If so, the employee will be penalised at two stages , one while calculating pensionable service and other on calculating pensionable service.
From India, Chandigarh
Kindly confirm whether these NCD also effect the calculation of pensionable salary? If so, the employee will be penalised at two stages , one while calculating pensionable service and other on calculating pensionable service.
From India, Chandigarh
Yes, NCP Days will effect your Pensionable Salary & Pensionable Service Period.
I will suggest you if you want to know calculation then you demand your concerned EPFO.
If you interest then I will give the way how you get your calculation sheet.
From India, Gangtok
1I will suggest you if you want to know calculation then you demand your concerned EPFO.
If you interest then I will give the way how you get your calculation sheet.
From India, Gangtok
Dear Mr. Dipankar pal
Thank you very much for your immediate response on my query.
I may agree with you that NCD periods will cost impact on pensionable salary too, but how?
This question is unresolved yet. The theory (containing each inputs and their impact on calculation) other than formula for calculation of pensionable salary should also we known to us. NCD is such an input but no discussion is available on the impact of this input while calculating the pensionable salary.
To receive the calculation sheet from EPFO is a separate issue and can be resolved separately. However, you may suggest me an easy way to get the same from EPFO. Actually I have applied for revision of my pension in view of supreme court's order and think this information will be demanded later, after the revision of my pension, in case i am still not satisfied by new calculations by the EPFO.
Thanks a lot again.
From India, Chandigarh
Thank you very much for your immediate response on my query.
I may agree with you that NCD periods will cost impact on pensionable salary too, but how?
This question is unresolved yet. The theory (containing each inputs and their impact on calculation) other than formula for calculation of pensionable salary should also we known to us. NCD is such an input but no discussion is available on the impact of this input while calculating the pensionable salary.
To receive the calculation sheet from EPFO is a separate issue and can be resolved separately. However, you may suggest me an easy way to get the same from EPFO. Actually I have applied for revision of my pension in view of supreme court's order and think this information will be demanded later, after the revision of my pension, in case i am still not satisfied by new calculations by the EPFO.
Thanks a lot again.
From India, Chandigarh
Dear Mr. R. N. Yadav,
Thanks for interest for calculation purpose. Actually, Pensionable Salary(EPS,1995) calculate as follows:-
1) Last Wage in wage ceiling 6500/-
2) Pensionable Service in wage ceiling 6500/- (Excluding NCD)
3) Last wage in wage ceiling 15000/-
4) Pensionable Service in wage ceiling 15000/-(Excluding NCD)
5) Weighted average wage
6) Pension Amount=Pensionable Salary X Pensionable Period of Service/70 Yrs.
You can get your calculation sheet from EPFO through RTI Act,2005.
Thanks & Regards,
D. Pal
From India, Gangtok
Thanks for interest for calculation purpose. Actually, Pensionable Salary(EPS,1995) calculate as follows:-
1) Last Wage in wage ceiling 6500/-
2) Pensionable Service in wage ceiling 6500/- (Excluding NCD)
3) Last wage in wage ceiling 15000/-
4) Pensionable Service in wage ceiling 15000/-(Excluding NCD)
5) Weighted average wage
6) Pension Amount=Pensionable Salary X Pensionable Period of Service/70 Yrs.
You can get your calculation sheet from EPFO through RTI Act,2005.
Thanks & Regards,
D. Pal
From India, Gangtok
Dear Mr. Dipankar Pal,
Thank you very much once again for your further reply on my query. Yes, PENSIONABLE SERVICE will be calculated excluding NCD. On the calculation of PENSIONABLE SALARY, I am still not convinced. Let us take a simple example (With imaginary data) for the purpose of calculation of PENSIONABLE SALARY-
1. Contribution period 01.4.12 to 31.03.13 i.e. wage month March 2012 to feb. 2013.
2. Let the pensionable salary be calculated on the basis of salary of these 12 months.
3. Rate of salary: a) March 2012 to august 2012(06 months) @ 6200 per month.
b) Sept. 2012 to Feb. 2013 (06 months) @ 6500 per month.
4. NCD details (Important point)
March 2012 - 5days, June 2012 - 7 days, October 2012 - 31 days (total absent) & January 2013 - 4 day.
kindly calculate the PENSIONABLE SALARY on the basis of above data.
Is it (6200 x 6 + 6500 x 6)/12 = 6350...........?
( if so, there is no effect of NCD on calculation)
Please suggest if calculation is to be done by any other manner. This is the main issue.
Thanks a lot.
From India, Chandigarh
Thank you very much once again for your further reply on my query. Yes, PENSIONABLE SERVICE will be calculated excluding NCD. On the calculation of PENSIONABLE SALARY, I am still not convinced. Let us take a simple example (With imaginary data) for the purpose of calculation of PENSIONABLE SALARY-
1. Contribution period 01.4.12 to 31.03.13 i.e. wage month March 2012 to feb. 2013.
2. Let the pensionable salary be calculated on the basis of salary of these 12 months.
3. Rate of salary: a) March 2012 to august 2012(06 months) @ 6200 per month.
b) Sept. 2012 to Feb. 2013 (06 months) @ 6500 per month.
4. NCD details (Important point)
March 2012 - 5days, June 2012 - 7 days, October 2012 - 31 days (total absent) & January 2013 - 4 day.
kindly calculate the PENSIONABLE SALARY on the basis of above data.
Is it (6200 x 6 + 6500 x 6)/12 = 6350...........?
( if so, there is no effect of NCD on calculation)
Please suggest if calculation is to be done by any other manner. This is the main issue.
Thanks a lot.
From India, Chandigarh
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