Management Consultancy
Rajendra R

Thread Started by #Rajendra R

I joined fps scheme as on 01.07.1973 and continued under 1995 scheme and retired on 01.03.2012. My contribution is contionuous as per scheme till retirement My salary was above Rs 2500 as on 01.07.1995 and salary was above Rs 6500 till retirement from 01.07.1995.No break in service or scheme and no benefit has been taken. I would like to know what will be my family pension receivable.
Thanks and Regards,
Rajendra R
7th January 2018 From India, Bengaluru
Pl specify whether the contribution to EPS was on actual basis or limited to the prevailing wage ceiling under the PF Act 1952 from time to time. So also, when you attained 58 years of age. You have retired on 01.03.12, you should have got pension from that time at least, already 5 years are over. Pl contact your local PF office where the contributions were going from your employer. You are entitled to get arrears from 2012.
Pension is calculated as per formula, =Pensionable Salary X Pensionable service divided by 70. Pensionable salary is the average of last 12 months salary on which the EPS contribution was deducted by employer. Pensionable service is the no. of years of service since 1995 and for your past service from 1973 to 1995 you would get two years added in the pensionable service period.
8th January 2018 From India, Mumbai
I Thank and appreciate Mr KK!.HR for instant reply
I clarify as under for the queries,
1.I attained 58 years on 20.02.2010( my dob 20/02/1952)
2. My contribution was limited wage ceilings as per P F Act.
3. I got arrears from 2010 and FPS/ month has been fixed at Rs. 2029.
I don't know whether this amount of pension is correct or not.
I was expecting FP/month. I request if any body endorse the calculation.
Thanks and Regards,
8th January 2018 From India, Bengaluru
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