Dear Abbas Sir,
Good morning. I want to confirm the pension calculation. I am Sanjay Patki, working in an MNC and retired on 31 July 2014.
Currently, I am receiving a pension of Rs 2266 per month based on a ceiling of 6500. However, a new ceiling of Rs 15000 became applicable from 01.09.2014, which does not apply to me due to a mere 2 months gap. Could you please confirm if there is a specified last retirement date for this ceiling?
My pensionable salary is for 19 years, with 17 years of past service before 16.11.95, during which my salary was 5000.
I am unsure which salary will be considered at the time of separation (31.07.2014) - either 6500, 15000, my basic salary of 10550, or my gross salary of 28800 per month. I seek your support in determining my current pension.
With Best Regards,
Sanjay Patki
09825137883
From Hong Kong, Central District
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1Good morning. I want to confirm the pension calculation. I am Sanjay Patki, working in an MNC and retired on 31 July 2014.
Currently, I am receiving a pension of Rs 2266 per month based on a ceiling of 6500. However, a new ceiling of Rs 15000 became applicable from 01.09.2014, which does not apply to me due to a mere 2 months gap. Could you please confirm if there is a specified last retirement date for this ceiling?
My pensionable salary is for 19 years, with 17 years of past service before 16.11.95, during which my salary was 5000.
I am unsure which salary will be considered at the time of separation (31.07.2014) - either 6500, 15000, my basic salary of 10550, or my gross salary of 28800 per month. I seek your support in determining my current pension.
With Best Regards,
Sanjay Patki
09825137883
From Hong Kong, Central District
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Dear Sanjay Patki,
If you have contributed on a salary of more than Rs. 6500 up to Rs. 15000, then only it will be taken for average salary to calculate beyond Rs. 6500. In other words, there should be a minimum period of one month from 01.09.2014 before exit from EPS to get the enhancement.
Abbas P.S
From India, Bangalore
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If you have contributed on a salary of more than Rs. 6500 up to Rs. 15000, then only it will be taken for average salary to calculate beyond Rs. 6500. In other words, there should be a minimum period of one month from 01.09.2014 before exit from EPS to get the enhancement.
Abbas P.S
From India, Bangalore
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Dear Sir,
I have contributed a monthly basic salary of 10550 rupees until my final day at my company. Therefore, only my pensionable salary, calculated at 6500 rupees at the time of my pension calculation, is considered. Could you please explain what pension is in this context?
My past service amounts to 17 years until 1995.
Please help.
Sanjay Patki
From Hong Kong, Central District
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I have contributed a monthly basic salary of 10550 rupees until my final day at my company. Therefore, only my pensionable salary, calculated at 6500 rupees at the time of my pension calculation, is considered. Could you please explain what pension is in this context?
My past service amounts to 17 years until 1995.
Please help.
Sanjay Patki
From Hong Kong, Central District
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Dear Sanjay Patki,
The statutory contribution to EPS is based on the ceiling salary. Therefore, even though you contributed Rs. 10550, the EPS contribution might have been Rs. 6500, with the balance credited to PF. Please verify this information with your HR department or the relevant RPFO.
Abbas.P.S
From India, Bangalore
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The statutory contribution to EPS is based on the ceiling salary. Therefore, even though you contributed Rs. 10550, the EPS contribution might have been Rs. 6500, with the balance credited to PF. Please verify this information with your HR department or the relevant RPFO.
Abbas.P.S
From India, Bangalore
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Dear Abbas,
I am not satisfied with your answer. I don't know how my pension is calculated based on 6500/-. I retired on 31st July 2014, and the new ceiling is applicable from 01 September 2014. I want to know what was the last deadline considered. How many people will benefit from this increase in the ceiling? Sir, I request you to calculate my pension and send it to me. I need your help in this matter. Sorry to trouble you. You well know that government people will not help in this matter.
Thanks & Regards,
Sanjay Patki
From Hong Kong, Central District
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I am not satisfied with your answer. I don't know how my pension is calculated based on 6500/-. I retired on 31st July 2014, and the new ceiling is applicable from 01 September 2014. I want to know what was the last deadline considered. How many people will benefit from this increase in the ceiling? Sir, I request you to calculate my pension and send it to me. I need your help in this matter. Sorry to trouble you. You well know that government people will not help in this matter.
Thanks & Regards,
Sanjay Patki
From Hong Kong, Central District
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Dear Sanjay Patki,
To avail of the benefit of Rs. 15,000 (actually it is not a benefit, but a loss), the members have to contribute at least one month on Rs. 15,000 w.e.f. 01.09.2014. Accordingly, you are not eligible to receive this for two reasons:
1) Your date of birth is before 1st Oct '4.
2) You didn't contribute to EPS until 30.9.2014.
Abbas. P. S.
From India, Bangalore
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To avail of the benefit of Rs. 15,000 (actually it is not a benefit, but a loss), the members have to contribute at least one month on Rs. 15,000 w.e.f. 01.09.2014. Accordingly, you are not eligible to receive this for two reasons:
1) Your date of birth is before 1st Oct '4.
2) You didn't contribute to EPS until 30.9.2014.
Abbas. P. S.
From India, Bangalore
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EPS - Form No. 10-D Pension Claim Form Aadhaar.pdf
EPF - Pension contribution is zero WHY.jpg
PENSION CALCULATION.xls