Cite.Co is a repository of information and resources created by industry seniors and experts sharing their real world insights. Join Network
Dear All,
I have a small doubt in Pf Pension calculation formula.
Please explain the doubt i have
that is Formula is Average salary X No.of year service / 70.
"Why 70 is taken for dividing."
Regards
Rajesh S

From India, Hyderabad
70 is nothing but a math figure only
Labor department makes ensure that the employee can work max 35 yrs and pension would be 50% of the last wages , so 35 /70 formula is applied, there are many more catches within the scheme but 70 is just a number to get the percentile of the payable amount


This discussion thread is closed. If you want to continue this discussion or have a follow up question, please post it on the network.
Add the url of this thread if you want to cite this discussion.






About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2020 Cite.Co™