Dear Friend,
May be showing Pension balance started recently.
I just read as under:
While calculating Pensionable Salary we have to take the average of monthly pay drawn during 60 months preceding the date of cessation of membership. As of 1st April 2019, the Pensionable Salary is to be calculated on last 12 months salary.
You can take up your grievance with ‘NIDHI AAPKE NIKAT’.
From India, Mumbai
183May be showing Pension balance started recently.
I just read as under:
While calculating Pensionable Salary we have to take the average of monthly pay drawn during 60 months preceding the date of cessation of membership. As of 1st April 2019, the Pensionable Salary is to be calculated on last 12 months salary.
You can take up your grievance with ‘NIDHI AAPKE NIKAT’.
From India, Mumbai
As per the EPS Scheme, you were contributing only Rs. 1250 per month (reckoned on a pensionable salary of Rs. 15,000 which has been the ceiling amount) to the EPS corpus which for 4.7 years works out to Rs. 68750. This is what your passbook is revealing. Now since you have foreclosed the scheme before completing the minimum eligibility of 10 year service, they are to return the contribution as per Table D. So it has to be Rs. 15000 X 5.02 = 75,300 but payment of Rs. 45 K means there is something amiss. If your EPS corpus is Rs 68750 then you definitely has a case for additional amount
From India, Mumbai
From India, Mumbai
Thank you for the confirmation. I have written to the concerned PF office about the same. Hope they will fix this.
From India, Bengaluru
From India, Bengaluru
Dear KK!HR,
I also said same thing. I further suggested in next post that he needs to take average of monthly pay drawn during 60 months preceding the date of cessation of membership.
I now confirm that he needs to take average of monthly pay drawn during 60 months preceding the date of cessation of membership as per the amendment made by the GSR 609 (E) dated 22.08.2014.
Still there is a deviation or difference he has to make his case as what I suggested i.e. waith ‘NIDHI AAPKE NIKAT’. Because in RPFO no one will give him proper reply.
I have also said that Withdrawal from the EPS account is taxable.
I further say that the Notification GSR 609 (E) dated 22.08.2014 was set aside by HC Kerala. The SLP filed by EPFO against this set aside was dismissed by SC.
Due to all the above huge ambiguities persist over there. When the whole amendment of 2014 in regards to Pension is set aside then one need to think of issues may create out of it.
Yesterday when I posted here on this thread I was not remembering all this things.
From India, Mumbai
I also said same thing. I further suggested in next post that he needs to take average of monthly pay drawn during 60 months preceding the date of cessation of membership.
I now confirm that he needs to take average of monthly pay drawn during 60 months preceding the date of cessation of membership as per the amendment made by the GSR 609 (E) dated 22.08.2014.
Still there is a deviation or difference he has to make his case as what I suggested i.e. waith ‘NIDHI AAPKE NIKAT’. Because in RPFO no one will give him proper reply.
I have also said that Withdrawal from the EPS account is taxable.
I further say that the Notification GSR 609 (E) dated 22.08.2014 was set aside by HC Kerala. The SLP filed by EPFO against this set aside was dismissed by SC.
Due to all the above huge ambiguities persist over there. When the whole amendment of 2014 in regards to Pension is set aside then one need to think of issues may create out of it.
Yesterday when I posted here on this thread I was not remembering all this things.
From India, Mumbai
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EPS - Withdrawal Benefit Calculators_Ann onymous.xls
Download-eps-pe nsion-withdrawa l-form-31-uan-p ic.jpg
Early PF withdrawal won’t be easy.pdf