Sir
Pension calculation is =pensionable service*pensionable salary/70
suppose my pensionable salry is 10000 and i worked for 20 years and get retired then as per formula pension would be 10000*20/70=2857
but max limit is 1250 clear the doubt.
2. if my basic is 12000 then their will be eps contribution and i am entitle for pension but if my basic increse to 17000 then am i entitle for pension ?in this case how to calculate
regards
From India, Mumbai
6Pension calculation is =pensionable service*pensionable salary/70
suppose my pensionable salry is 10000 and i worked for 20 years and get retired then as per formula pension would be 10000*20/70=2857
but max limit is 1250 clear the doubt.
2. if my basic is 12000 then their will be eps contribution and i am entitle for pension but if my basic increse to 17000 then am i entitle for pension ?in this case how to calculate
regards
From India, Mumbai
Dear friends,
For service after 16.11.1995, EPFO applying two types of calculation. Even though pensionable salary is calculated as average of last 60 months' salary; there are 2 types of ceiling. i.e up to 31.08.2014 ceiling of pensionable salary is Rs.6500 and there after Rs. 15000.
2. Even if your salary cross ceiling limit, your membership in EPS will be continued with contribution on ceiling limit.
Abbas.P.S
From India, Bangalore
For service after 16.11.1995, EPFO applying two types of calculation. Even though pensionable salary is calculated as average of last 60 months' salary; there are 2 types of ceiling. i.e up to 31.08.2014 ceiling of pensionable salary is Rs.6500 and there after Rs. 15000.
2. Even if your salary cross ceiling limit, your membership in EPS will be continued with contribution on ceiling limit.
Abbas.P.S
From India, Bangalore
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PENSION CALCULATION.xls
PENSION CALCULATION.pdf
EPF PENSION CALCULATION.zip