Benefit of pension on higher wages, if claimed:
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1) Those retired before 2014 will be getting more arrears than what they remit to EPFO towards different amount of contribution till attaining the age of 58 yesrs.For example an official who retired during Nov 2009 will be getting pension on higher wages Rs8215/- per month ( old pension around Rs 1800/-)He has to remit EPFO Rs 191111 /- towards differential amount of contribution and interest. But he will receive more arrears than what he remitted to EPFO ie.at least more than one lakh.
2) Those retired after 2014 will be getting more pension due to higher scales than earlier retired officials but arrears will be getting less or equal due to period of arrears is less ie from 2015 to 2019.
3) In the case of retired officials before 2004 or wage revision , or voluntary retired , it is not much beneficial to them and they have to calculate how much hike in their pension if claimed on higher wages .
4) Further in the case of dependent deceased people, they are getting 50% or 25 % of pension only. Therefore, it is not beneficial to all the dependent deceased people except those retied or deceased with high pay scales. They have to calculate hike of pension before remitting the amount to EPFO for pension on higher wages.
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Ref para 1 , above post-
I retd from CPSU in 2008, contribution paid minimum,
So can I apply for pension on higher wages on payment of differential amount of contribution and interest.
Since employer contribution payment towards this case is doubtful, I shall pay this part also.
Can I request EPFO to consider my case, ie on payment of differential amount of contribution and interest for getting higher pension.
From Japan
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1) Those retired before 2014 will be getting more arrears than what they remit to EPFO towards different amount of contribution till attaining the age of 58 yesrs.For example an official who retired during Nov 2009 will be getting pension on higher wages Rs8215/- per month ( old pension around Rs 1800/-)He has to remit EPFO Rs 191111 /- towards differential amount of contribution and interest. But he will receive more arrears than what he remitted to EPFO ie.at least more than one lakh.
2) Those retired after 2014 will be getting more pension due to higher scales than earlier retired officials but arrears will be getting less or equal due to period of arrears is less ie from 2015 to 2019.
3) In the case of retired officials before 2004 or wage revision , or voluntary retired , it is not much beneficial to them and they have to calculate how much hike in their pension if claimed on higher wages .
4) Further in the case of dependent deceased people, they are getting 50% or 25 % of pension only. Therefore, it is not beneficial to all the dependent deceased people except those retied or deceased with high pay scales. They have to calculate hike of pension before remitting the amount to EPFO for pension on higher wages.
---------------------------------------------------------------------------------------------------------------------------------------------
Ref para 1 , above post-
I retd from CPSU in 2008, contribution paid minimum,
So can I apply for pension on higher wages on payment of differential amount of contribution and interest.
Since employer contribution payment towards this case is doubtful, I shall pay this part also.
Can I request EPFO to consider my case, ie on payment of differential amount of contribution and interest for getting higher pension.
From Japan
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EPF Pension.xls
EPF - Pension contribution is zero WHY.jpg