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Hi All, I need some guidance Or some file viz. Xls or other that can calculate the pension as per the latest rules. Can any body help in this matter. Thanks to all in anticipation. Hemant Kansara
From India, Surat
There is no upper limit for Eps-95 pension. For pension calculation, the service will be taken into 2 parts. Service before 16.11.95 and service w.e.f 16.11.95. The first one is called as past service and latter one as pensionable service. Past service is divided into 4 slabs. Service upto 11 years, 12 to 15 years, 16 to 19 years and 20 & above. If the salary on 16.11.95 is below Rs. 2500, the monthly compensation will be Rs. 80, 95, 120 & 150 respectively. For Rs. 2500 & above this will be Rs. 85, 105, 135 & 170. This amount is for those who attain 58 years on 16.11.95. In the case of those attain 58 years after 16.11.95, the above compensation will be multiplied by a factor stipulated in table B, according to the difference between 16.11.95 and the date of completion of 58 years.

For pensionable service there is a formula to calculate pension. It is Pensionable Salary x Pensionable Service / 70. Pensionable salary can be categorised in to 3. 1) Below Rs. 6500. 2) Rs. 6500 & above, but contribution on statutory celing of Rs. 6500. 3) Above Rs. 6500 & opted to contribute on actual salary. In case of 2nd, pensionable salary is Rs. 6500. In other two cases, pensionable salary will be the average of last twelve months. Also if pensionable service is 20 years & above 2 year's bonus will be given.

For details please see the web site :

http://epfindia.com <link updated to site home>

One example I shall quote.

Date of Birth - 2.1.1961

Date of join - 23.2.1987

Salary on 16.11.95 - Rs. 2500 & above

Salary on completion of 58 years on 1.1.2019 - Rs. 6500 (Statutory Ceiling)

Past Service - 8 yr 9 m (approx) rounded to 9 years

Compensation - Rs. 85

Factor as per Table B (for less than 24 years, i.e the difference between 16.11.95 & 1.1.2019) - 6.102

(This can be calculated as 1.08 to the power of 24 - 0.5, correct to 3 decimals)

Past Service Benefit - 85 x 6.102 = Rs. 519 - (A)

Pensionable Service - 23 years

Bonus (Service is 20 & above) - 2

Pensionable Salary - Rs. 6500

Pensionable Benefit - 6500 x 25 / 70 = 2321 - (B)

Total Pension - (A) + (B) = Rs. 2840

I shall insert Excel work sheet to calculate pension. Enter Date of Birth, Date of Join, Date of Seperation from Service, Salary on 16.11.95, Salary on Seperation from Service ( in compliance with the contribution to pension fund) and break in service before and after 16.11.95, if any in green colour column. The results will appear in yellow colour column. The red colour is for static information.

In case of any error or suggestion, please notice to me.

ABBAS.P.S,

Secretary,

ITI Employees' Association,

ITI Limited, PALAKKAD 678 623,

KERALA, INDIA.

Ph. +91 9447 467 667
From India, Bangalore

Attached Files
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File Type: xls EPF Pension.xls (26.0 KB, 38054 views)

Dear abbas,
good job done, i thanks for the efforts you done for our friends, this is very useful, i sugest you to hide and protect caculation formula part from your xls sheet and keep only editable and final result view fields only for the users.
Regards
g r bavarva
From India, Ahmadabad
Dear Bavarava,
Thank you for the complements and suggestions. Regarding your suggestion to hide the calcualation part, my view is that if somebody going through this and getting triggered by taking this as a guidance, it will be helpful to them & the Society.
Abbas
From India, Bangalore
i have completed 14 years of service joined in 03 july 1996. if i resign now what will be my pension. basic of my last drawn salary is rs.20k
From India, Bangalore
Ceiling limit on salary is Rs. 6500. Pension is Salary *Service / 70. i.e. 6500 x 14/70 = 1300.
Please note that the Expert Committee on EPS has subitted their report to Government. There is chance to enhance the benefits recently. Hence don't hurry to resign and wait for a few more period. . . . . Abbas
From India, Bangalore
I have changed 3 companies, all the three companies has their own PF trust, then what will happen to the pension that i have got in those companies if i havent transfered either the pf or the Pension fund. Who will own the pension fund?
From India
Dear Lateesh,
The pension fund will be with the concerned Offices of Regional PF Commissioner. You may apply to the concerned PF offices seperately through respective employers in Form 13 to transfer the pension details to the last location.
Abbas.P.S
From India, Bangalore
Dear Mahadeva,
Division with 70 is not my proposal. It is the formula stipulated by the EPFO.
At the time of introduction of PF pension (16.11.1995), for 33 years' service equivalent service pension is 50%. In PF pension 2 years will be added as bonus for those completed 20 years service. Accordingly 33 years will be treated as 33+2 = 35. To get 50%, 35 is to be divided by 70. This is said to be the justification to divide by 70.
Abbas.P.S
From India, Bangalore
This is very good excel format. Pls tell me how to mention break service in DATE|MONTH|YEAR in your excel sheet.
From India, Nasik
Dear Sir,
I am asking the question (related to my dada jeee). he served indian army around 15 years & getting pension from army as an exservice men. After it he also served in Punjab govt (ranjeet sagar dam ) & contributed his epf around 10 years 7 month .
He was retired in aug 1997 at the age of 60.
Is he eligible for pension or not ?
Please reply me on the same .
I willbe very thankful to you .
Regards
Vishal
09871854195
From India, Delhi
is he elligible for 2nd pension from epfo or any pension benefit in first army pension .. please suggest me on the same 9871854195
From India, Delhi
Dear Sir,
I am asking the question (related to my dada jeee). he served indian army around 15 years & getting pension from army as an exservice men. After it he also served in Punjab govt (ranjeet sagar dam ) & contributed his epf around 10 years 7 month .
He was retired in aug 1997 at the age of 60.
But his retirement age was 58 in 1995
Is he eligible for pension or not ?
Please reply me on the same .
I willbe very thankful to you .
Regards
Vishal
09871854195
From India, Delhi
Dear Team,
Kindly advise me the procedure to surrender the Scheme certificate, which I got for my previous employement.
I am from Pondicherry and the past scheme certicate is made for 9.6 Yrs ( from 1995 to 2005 march)
Best Regards,,
SURESH BABU.K
Pondicherry,
M: 9443573013
From India, Pune
Ceiling limit on salary is Rs. 6500. I join P.F 25.08.2004.What is the amount get pension I get March 2013
(Present age 47 Year)
= Rs.6500 X 9/70 =836/= Per month?
= Rs.836/= is very small amount

Prasad
From India, Mumbai
very very use ful. seldom people know irrespective of their status, how to calculate pension. you did it. thank u and best wishes for your committement to the society
dasari sivaramakrishna
pf accounts
the app mills limited,
international papers.
rajahmundry, 533105
andhra pradesh
india
From India, Vijayawada
Dear Abbas
Thanks for XLS sheet.for pension calculation.Is 4% reduction each year before attaining age of 58 is later on restored to pension after the age of 58 is reached.If yes,the individual has to make any application to the dept?
Thanks
RAVI GURJAR
From India, Pune
No, Whatever reductions in Pension will continue lifelong of the member and thereafter to spouse & children. Reduced pension will not be reinstated to the original pensionable amount. Abbas.P.S
From India, Bangalore
To get pension, there should be a minimum service of 10years. If the service is below the eligible service, one time withdrawal benefit is applicable. Abbas.P.S
From India, Bangalore
I have noticed your queries now only. At any circumstances PF pension cannot be denied, if the member has 10 years service (9 years 6months will be rounded up to 10 years) till completion of 58 years. If service is below 10 years, one time withdrawal benefit can be availed.
Abbas.P.S
From India, Bangalore
sir i am employee in national heart institute since august 1981.i am going retirement july 2015, my present basic pay 12700,DA 13589,and total gross salary 34561.
let me know how many i get pension after retirement.
thanks
shyambali yadav
From India, Delhi
Dear Shyambali Yadav,
Your Past Service Benefit for 14 years (till 16.11.95) - 105
Multiplying factor as per Table B - 4.485
Pension for Past Service - 105 x 4.485 = 471 - (1)
Pension w.e.f 16.11.1995 = pensionable service x pensionable salary / 70 = 19.63 x 7916.67 /70 = 2220 - (2)
Total Pension, (1) + (2) = 471 + 2220 = 2691
Abbas.P.S
From India, Bangalore
this is indeed a great work done abbas. I request you to please share the table b also if you have got as the provided link is not working. this will be very helpful. thanks
From India, New Delhi
Dear Harpreet Walia, Table B can be down loaded from EPFO. However I shall reproduce as under :- 51 51. Subs. by G.S.R. 438(E), dated the 10th June, 2008 Abbas.P.S
From India, Bangalore
Hi, can you give calculation for EPS after recent amendment. My DOB IS 01.01.1963, DATE OF JOINING IS 28.08.1984, Basic as on 1995 was more than 2500 and today is more than 15000. If possible give excel sheet.

Dear Mr. B.K.Roy, Your past service benefit is 85x7.117 = 605 - (1) Pension for pensionable service is 15000x27.1224/70 = 5812 - (2) Total pension (1)+(2) = 6417 Abbas.P.S
From India, Bangalore

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File Type: xls EPF Pension15000.xls (49.0 KB, 866 views)

Dear Sir, I hv retired from RINL, Vizagsteel on 30-06-2012 as AGM(Personnel). I joined in VSP on 08-06-1977. My contribution for EPFS started from 01-11-1977.I had continuously worked without any breaks in my service till my retirement. Now I would like to know the pension that I should get after my retirement taking into my past service before 1995. Pl send the calculation sheet also. If you need further information, pl let me know, I shall provide the same to you.
Thanking you,
Yours truly
M Gurunadha Rao
mgurunadh@gmail.com
Mobile No.9000828829.
From India, Visakhapatnam
Dear Abbas,
Trust you are doing well.
I want to know that in case a person has withdrawn an amount of PF accumulated and pension fund of his / her service earlier due to unawareness of the rules, can he/she be eligible for continuous service as after leaving that initial job person had joined the new organization and has not completed service of more than 5 years in current organization and at the time of leaving the initial job he / she had about 5 years of service. Is it possible that he / she can be allowed to accumulate both the services that is old one and new one and can he /she be eligible for pension scheme.
Would request you kindly let me know, in-case it is yes then please share the process how should he / she be able to process in this regard.
Regards,
AG
From India, Gurgaon
Monthly pension=( Pensionable salary*Pensionable service)/70 Why it is divided by 70? no 80 or 60. Ashutosh Srivastava
From India, Mumbai
Dear Sir, Will you please give me an explanation to Salary on separation from service and how it is calculated.
From India, Idukki
Dear Abbas, This is nice format. Please try to introduce the early pension formula. ( after 50 yrs to 57 yrs any time ) and date of separation, before retirement. Thanks, Vidyadhar Bhat
From India, Pune
Sir i joined the service and was on probation on 28.08.1977 date of birth is 28.11.1958 and pay as on November 1995 is Rs.8232 ( Basic + DA) basic Rs.3100. and present Basic is 32400/, Retiring on 30-11-2016; How much pension can i expect?
Is it Rs.2842 maximum?
From India, Mumbai
Dear Abbas, good job. Please attach an excel sheet for pension starting on the age of 60yrs in place of 58yrs. Thanks.

Dear friends,
If we didn't opt pension at 58 years, then pension at 59 years will be pensionable amount x 1.04 and for 60 years it is pensionable amount x 1.0816. i.e if pensionable amount is Rs. 1000/- at 58, pension for 59 & 60 years will be 1040 & 1082 respectively.
Abbas.P.S
From India, Bangalore
Dear Abbas Sir,
Pl give calculations for following details:
DOB : 14-09-54
DOJ : 01-08-1978
DOL : 31-05-2003
Pension opted : 01-10-2004 after completion of age 50 yrs
Salary on Oct 1995: 2500/-
On leaving i.e. May 2003 : 6500
Thanks,
Vidyadhar Bhat
From India, Pune
Dear Vidyadhar Bhat,
Your Past service benefit (till 15.11.95) = 135 x 3.56 = 481 - (1)
Pensionable service benefit (16.11.95 to 31.5.2003) = 7.54 x 6500 /70 = 700 - (2)
Total pension at 58 years (1) + (2) 481 + 700 = 1181
Pension at 50 years = 1181 x 0.7214 = 852
As per new amendment, those who have a total service of 20 years in EPS will be granted a bonus of 2 years. Accordingly 481 + 700 will become 481 + 886 = 1367 and at 50 years pension will be 986.
Abbas.P.S
From India, Bangalore
Your EPF Calculator is perfect. From 01.09.2014 wage limit is Rs. 15000.00 per month. please update epf calculator accordingly.

I liked this posting ion calculation awareness drive. I request you to please update calculation considering 15000/- pensionable salary wef Oct 2014 and the status of enhancement of pensionable salary to be actual salary as per recent notification dated 23rd March 2017.
From India, Barhiya
Actually statutory limit of pension contribution is enhansed from Rs.6500/- to Rs.15000/- from 1st Sept.2014 so employere are now contributing pension on 15000/- @ 8.33 ie Rs.1250/- so can we treat Rs.15000/- instead of Rs.6500 /- while calculating pension amount ?
From India, Pune
Dear Mr Ravindra,

The criteria of Pensionable salary is:-

Average monthly pay of the contributory period of service in the span of 60 months preceding the date of exit from the membership of the Employees' Pension Fund.

The reivsed salary of Rs. 15000/- implemented wef 01st Sep 2014. Hence prior to 31st Jul 2019 we have to calculate the pensionable salary on pro rata basis. However, after 31st Aug 2019 (being completion of 60 months continous service @ Rs. 15000/pm) we can consider Rs. 15000/-.

For example if any person retired on 31st May 2017 (being current period), the pensionable salary (prior to leaving the job) will be calculated on pro rata basis (27 months @ 6500 and 33 months (from Sep 14 to May 17)@ 15000). (27*6500+33*15000)/60 = 11175/-.

Since during the previous 60 months employee whole salary is not 15000/-, hence the average salary is coming 11175/-.

Hope I am cleared to your point.

Mr Abbas can put more light on that.
From India, Delhi
Dear Abbas,
I give here below the figures of my pension received by me:
Date of Birth 11//7/1944 ; Date of Joining 1/1/1982 ; Date of retirement 11/07/2002 with 6 months breakin the service after 1995
My initial pension Calculation was Past service 85*1.858=157 Current Service 6500*6/70=552; totaling 715 ROC-752 pension recd 643
in 2014,minimum pension 1000; cal was past 157+current 552+adjustment 285=1000-ROC 72= Pension recd 928.
In 2015, after Sup Court order to add 2 years weight-age the cal was past 157+current 743+adjustment 100=1000-ROC 90= Pansion recd 910
J have recd the payment of all pension totaling 1,58,319 till now.
Now recently Supreme court has given the order to do away with the ceiling of 5000 and 6500 and pay the pension of full contribution paid by the employer. Fortunately I have the month -wise details. I have worked out the average pension-able salary.it is 12000 for 12 m averags,11,102 for 36 M av and 10461 for 60 M average. The calculate pension works out to be 1528-153(ROC)=1375 (for 12 m a),1425-143=1282 for 36 m and 1353-135=1218 for 60 m . This looks to be lucrative and opt for it.( The scheme is optional for the member ie he can opt for it and get revised pension or leave with same pension as he gets now) . However, the member has to return the managmet part of contribution (paid to me in sept 2009) received with settlement of pf Contribution.The amount is 52319, it works out to be 105684 with simple interest at12% and 137092 with 12% compound interest
Now my question is should I opt it or not, will it be lucrative to get increased pension considering the interest otherwise recd on 1,37,000 which is required to be returned. secondly they will cosider onlyafterrepayment of our part, it may take little longer time forsettlement and the the consent and form 3A requirement from the employer. Employer may nit do it willinglyy as it requires the 25 years back data
i need your guidance. pl contact me on e mail or my mobile no 9967573871
Thankibng you
From India, Mumbai
Dear Abbas,
I give here below the figures of my pension received by me:
Date of Birth 11//7/1944 ; Date of Joining 1/1/1982 ; Date of retirement 11/07/2002 with 6 months breakin the service after 1995
My initial pension Calculation was Past service 85*1.858=157 Current Service 6500*6/70=552; totaling 715 ROC-752 pension recd 643
in 2014,minimum pension 1000; cal was past 157+current 552+adjustment 285=1000-ROC 72= Pension recd 928.
In 2015, after Sup Court order to add 2 years weight-age the cal was past 157+current 743+adjustment 100=1000-ROC 90= Pansion recd 910
J have recd the payment of all pension totaling 1,58,319 till now.
Now recently Supreme court has given the order to do away with the ceiling of 5000 and 6500 and pay the pension of full contribution paid by the employer. Fortunately I have the month -wise details. I have worked out the average pension-able salary.it is 12000 for 12 m averags,11,102 for 36 M av and 10461 for 60 M average. The calculate pension works out to be 1528-153(ROC)=1375 (for 12 m a),1425-143=1282 for 36 m and 1353-135=1218 for 60 m . This looks to be lucrative and opt for it.( The scheme is optional for the member ie he can opt for it and get revised pension or leave with same pension as he gets now) . However, the member has to return the managmet part of contribution (paid to me in sept 2009) received with settlement of pf Contribution.The amount is 52319, it works out to be 105684 with simple interest at12% and 137092 with 12% compound interest
Now my question is should I opt it or not, will it be lucrative to get increased pension considering the interest otherwise recd on 1,37,000 which is required to be returned. secondly they will cosider onlyafterrepayment of our part, it may take little longer time forsettlement and the the consent and form 3A requirement from the employer. Employer may nit do it willinglyy as it requires the 25 years back data
i need your guidance. pl contact me on e mail or my mobile no 9967573871
Thankibng you D M Shah
From India, Mumbai
Dear D M Shah,
For option to contribute to pension fund on full salary,
1) Your PF remittance made by employer should be on actual salary.
2) Your PF handling should be by EPFO (not by exempted Trusts run by the respective Organisations).
If the above conditions are satisfactory, you may remit the difference (8.33% of employer share to pension fund, balance 3.67% you can keep) with consent of RPFC and employer. Interest applicable is not flat 12%, but will vary from year to year, which I shall incorporate separately. For those become pensioner on or before 31.08.2014, pensionable salary will be average of last twelve months.
If EPFO give consent to contribute on full salary, it will not only provide more monetary benefit but better on social security aspect also.
Abbas.P.S
From India, Bangalore

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Thanks Abbas for your reply #43
How to get Consent from PF office . What is the procedure.
While contacting PE office they seem to be nit aware of it and ask to
1)get the calculation from your employer,I understand it is form 3A to be filled in for every year, in my case it will be from 1995-96 to 20022003 as intimated I have the copies of all old form 3a. Can I submit the same direct to PF Office. Guide for the procedure. (by chance company is closed, you can not apply- This reply can not be digested)
2) PF Office will calculate the difference of refundable pension fund with 12% interest -this also not digestable as pf office has paid us the 2 years weight age benefit without any interest.
3) The further pension calculation will be done only after you refund the excess amount paid
4) Theeis no reasonable time limit indicated for this exercise
Pl guide ,
Regards
DM Shah
From India, Mumbai
Dear Abbas, Good job. your view is commendable since your excel may be useful to may employs Tks.
From India, Chennai
Thanks for xl sheet, very useful.
I super got retired at the age of 60 in 2012.
For some reasons, yet not applied for pension (almost 6 yrs post retirement / 8 yrs post reaching 58 yrs of age)
Will there be a problem if I apply for pension now?
If yes, what and how to overcome it pl.
Rgds/satish
From India
Dear Mr. Satish,
As you are applying pension now only, EPFO may process pension from the date of completion of the age 60 years as pensionable amount x 1.0816. If so you will lose 2 years arrears (w.e.f date of completion of 58 years.)
Kindly mention the effective date as date of completion of 58 years and a copy of form 10 D, submitting to EPFO.
Abbas.P.S
From India, Bangalore



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