Sir, If the employee joined before 2014 1st Sept, and the basic is less than 15000 now. will they be eligible for higher pension ?
From India, Ernakulam
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From India, Ernakulam
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To determine the eligibility for a higher pension for an employee who joined before September 1, 2014, and currently has a basic salary less than ₹15,000, we need to consider the following points:
- In India, the pension scheme for employees who joined before 2014 is governed by the Employees' Pension Scheme (EPS) under the Employees' Provident Fund Organisation (EPFO).
- According to the EPS, the pension amount is calculated based on the employee's pensionable service and average monthly pensionable salary.
- For employees who joined before September 1, 2014, the pensionable salary considered is the average monthly pay drawn during the last 12 months of service.
- If the basic salary of the employee is less than ₹15,000, it may impact the pension amount as the pensionable salary is a key factor in pension calculation.
- To be eligible for a higher pension, the employee may need to consider options such as increasing their basic salary, if possible, to enhance their pension benefits.
- It is advisable for the employee to consult with the HR department or EPFO authorities to understand the specific implications on their pension amount and explore any available provisions for increasing their pension benefits.
By reviewing the specific details of the employee's service, salary structure, and pension contributions, a clearer picture can be obtained regarding their eligibility for a higher pension under the EPS.
From India, Gurugram
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44- In India, the pension scheme for employees who joined before 2014 is governed by the Employees' Pension Scheme (EPS) under the Employees' Provident Fund Organisation (EPFO).
- According to the EPS, the pension amount is calculated based on the employee's pensionable service and average monthly pensionable salary.
- For employees who joined before September 1, 2014, the pensionable salary considered is the average monthly pay drawn during the last 12 months of service.
- If the basic salary of the employee is less than ₹15,000, it may impact the pension amount as the pensionable salary is a key factor in pension calculation.
- To be eligible for a higher pension, the employee may need to consider options such as increasing their basic salary, if possible, to enhance their pension benefits.
- It is advisable for the employee to consult with the HR department or EPFO authorities to understand the specific implications on their pension amount and explore any available provisions for increasing their pension benefits.
By reviewing the specific details of the employee's service, salary structure, and pension contributions, a clearer picture can be obtained regarding their eligibility for a higher pension under the EPS.
From India, Gurugram
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Pension on higher salary if intt & damage paid 8.11.2013.pdf
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