at the time of my resignation my salary was 30,000 per month .If I am eligible for eps 1995 and if yes what will be my monthly pension? Please reply to my quelr
From India, Mumbai
Dear Mr. Sanjeev ji,
As per PF Act the pension calculation goes as below:
Pensionable Salary * Pensionable Service / 70 (What ever the gross earnings of the employee pension slab will be same)
Now the Pensionable Salary is 6500...
You have worked for around 18 yrs 6 months...
70 is stands for the maximum Age limit of a person..
So, as per my knowledge it is goes like this:
6500 * 19 / 70 = Rs. 1,764/- approximately..
Apart from that you will get PF Accumulations amount for the service (Both employee and Employer), Gratuity for your service in the Organization etc..
You will be eligible for Pension after attaining 58 years of Age.., you need to apply for Scheme Certificate by putting 'YES' mark in Form 10-C. After attaining you may apply for pension.
Note: PF authorities are willing to increase the the slab for pensionable salary from Rs. 6500/- to 15,000/- but it is not yet been finalized.

From India, Hyderabad
Dear Sanjivji,
Kindly provide your Date of birth. Then only calculation can be done. Because the pension calculation consists two parts. Service before 16.11.1995 and service w.e.f 16.11.1995.
For the first part DOB is must. Second part calculation is as follows. 6500x17/70 = 1579.
Kindly post the Date of birth.

From India, Bangalore

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