Jeevarathnam
Sr. Manager Hr/admin
Adoni Suguresh
Sr.executive (per & Adm)
Abbasiti
Assistant Engineer, Indian Telephone Industries,
Vidyadhar Bhat
Consultancy In Pf
+1 Other

Thread Started by #kbndevi

Thank you very much for the reply. Can you please tell how the withdrawal benefit is calculated and what percentage of total contribution is diverted to pension fund?
11th August 2014 From India, Bangalore
hi On the employers contribution of 3.615 is been transferred to pension fund
12th August 2014 From India, Bangalore
Dear friends,
Generally EPF contribution is 12% of salary. Out of this 8.33% (subject to a ceiling of Rs. 541) will be credited to pension fund.
For withdrawal benefit, factor as per Table D is multiplied by last drawn twelve months average salary (subject to a salary ceiling of Rs. 6500). Result will be the withdrawal benefit.
Abbas.P.S
12th August 2014 From India, Bangalore
Dear All Pl find attached HAND BOOK on EPS with details of calculations. Please go through Thanks, Bhat
14th August 2014 From India, Pune

Attached Files
Membership is required for download. Create An Account First
File Type: pdf EPS Scheme 1995.pdf (5.76 MB, 540 views)

Dear KBN Devi,

This has already been discussed in this thread and many peoples have contributed their views Please search in this thread.

The employees Pension Fund was introduced on 16th November, 1995 by superseding Employees Family Pension Scheme,. 1971. As per new Employees Pension scheme, 1995, to get the benefit of this fund the employee should complete pensionable service ie 10 years from the date of his joining. To get this benefit the employee should attain the age of 58 years. The actual benefit will be calculated only after the retirement of the employee. The exact pension amount per month cannot be arrived. As of now who have completed the 10 years and above and retired after attaining the age of 59 years an amount of Rs.1,400 to 1,500 per month may get (approx) Pensionable salary is the same and applicable to all kinds of employees including General Managers. Newly joined or not completed minimum pensionable service, the employee has got the option to with draw his or her contribution by applying the claim Form No.10C if it is less than ten years.

Bifurcation of Employers contribution towards Provident Fund, Pension is already explained by me in earlier contribution.

Adoni Suguresh

Sr.Executive (Pers, Admin & Ind.Rels) Rtd

Labour Laws Consultant .
22nd August 2014 From India, Bidar
Dear All
This is with reference to my contribution dt 22nd instant in this thread and subject, there was a typographical error while typing 58 years, by oversight it was typed as 59 years. Readers are requested to read it as 58 years. I regret for the inconvenience and sorry form the same.
Adoni Suguresh
Labour Laws Consultant
22nd August 2014 From India, Bidar
Dear Sir,
You have stated that the exact pension amount cannot be arrived. This wrong there is clear calculation method for both past service (service up to 15.11.1995) and pensionable service (service w.e.f 16.11.1995). Kindly furnish the date of birth, date of join, salary on 16.11.1995 & pensionable salary (average salary of last twelve months prior to stoppage of pension contribution), service break if any before attaining the age of 58 years etc.
Abbas.P.S
23rd August 2014 From India, Bangalore
Reply (Add What You Know) Start New Discussion

Cite.Co - is a repository of information created by your industry peers and experienced seniors. Register Here and help by adding your inputs to this topic/query page.
Prime Sponsor: TALENTEDGE - Certification Courses for career growth from top institutes like IIM / XLRI direct to device (online digital learning)





About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2019 Cite.Co™