Dear Seniors, Attached is a PPO received from the PF office. Can anyone tell me, if the calculation is correct or not. 34 years Service period and pension amount Rs.3384/-. Thank You !
From India
From India
Dear Friend,
Your date of joining is 01.01.1988 i.e. prior to 1995.
Your total service of 31 years will be divided in to:
1. Past Service i.e. between 01.01.1988 and 15.11.1995 - 7 year 11 months (less than 10 years)
2. Pensionable Service i.e. between 15.11.1995 and 30.05.2019 - 23 years 7 months i.e. 24 years.
Your salary was equal to / more than Rs. 2500/- pm as on 15.11.1995. So, you are entitle to Pension for Past Service of Rs. 85 pm.
In your pensionable service of 24 years you need to add 2 years weightage service since you worked for more than 20 years.
So your pensionable service is 24 + 2 = 26 years. Your pensionable salary is Rs. 14,231/-.
Your entitlement to monthly pension as under:
(Pensionable Salary x Pensionable service) / 70
= 14,231 x 26 /70
= 5286
So your total pension would be:
For past service Rs. 85
For pensionable service Rs. 5286
-----------------------------------------
Total Rs. 5371
-----------------------------------------
The above calculation of mine is on my understanding to law up till now. The inputs are correct but there is a deviation somewhere in my understanding and the EPFO calculation.
You are requested to take up this to someone else and revert so that I can correct myself if wrong.
From India, Mumbai
183Your date of joining is 01.01.1988 i.e. prior to 1995.
Your total service of 31 years will be divided in to:
1. Past Service i.e. between 01.01.1988 and 15.11.1995 - 7 year 11 months (less than 10 years)
2. Pensionable Service i.e. between 15.11.1995 and 30.05.2019 - 23 years 7 months i.e. 24 years.
Your salary was equal to / more than Rs. 2500/- pm as on 15.11.1995. So, you are entitle to Pension for Past Service of Rs. 85 pm.
In your pensionable service of 24 years you need to add 2 years weightage service since you worked for more than 20 years.
So your pensionable service is 24 + 2 = 26 years. Your pensionable salary is Rs. 14,231/-.
Your entitlement to monthly pension as under:
(Pensionable Salary x Pensionable service) / 70
= 14,231 x 26 /70
= 5286
So your total pension would be:
For past service Rs. 85
For pensionable service Rs. 5286
-----------------------------------------
Total Rs. 5371
-----------------------------------------
The above calculation of mine is on my understanding to law up till now. The inputs are correct but there is a deviation somewhere in my understanding and the EPFO calculation.
You are requested to take up this to someone else and revert so that I can correct myself if wrong.
From India, Mumbai
Dear Mr Akhil, Please peruse Specimen-Pension Work Sheet-Part-A & Computation of Pension-Part-B Pension is Calculated proportionately based on Last 5 Years EPS Wages, Not on Last Drawn EPS Wages
From India, New Delhi
From India, New Delhi
Thanks @akhil & Srinath, I calculated the same way as akhil did. However, as per EPFO the amount comes to Rs.3,384/- only. Due to corona i am not able to approach them personally to clear my doubts and sent several mails regarding this, but no reply. Can I go legally against them?
From India
From India
Dear Srinath Sai Ram,
Thanks a lot for helping me to correct my understanding. I was wrong some places.
When I tried the calculation on available goggle format in excel, some different figure is coming. One excel format is also available on this forum. There also you get different figure. I was bit confused.
The calculations given by you gave me some idea but I am enable to bring the figure of Rs. 3,384 somehow. The queriest says that she could arrived at the figure.
May I request you or the queriest or any one else to help out this calculation in excel or even in text?
From India, Mumbai
Thanks a lot for helping me to correct my understanding. I was wrong some places.
When I tried the calculation on available goggle format in excel, some different figure is coming. One excel format is also available on this forum. There also you get different figure. I was bit confused.
The calculations given by you gave me some idea but I am enable to bring the figure of Rs. 3,384 somehow. The queriest says that she could arrived at the figure.
May I request you or the queriest or any one else to help out this calculation in excel or even in text?
From India, Mumbai
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Years calculation..xl s
PENSION CALCULATION.pdf