As per the Employees' Provident Fund (EPF) and Miscellaneous Provisions Act, 1952:
Monthly Pension
This is based on a formula = (Pensionable Salary x Pensionable Service) / 70.
- **Pensionable Salary:** Average monthly salary over 12 months immediately preceding the date of exit from the scheme.
- **Pensionable Service:** Service in years rendered by the member for which contributions have been received. Normally, this would be limited to Rs. 6,500.00 per month unless certain enhanced contributions are made by the employer.
Monthly Pension
This is based on a formula = (Pensionable Salary x Pensionable Service) / 70.
- **Pensionable Salary:** Average monthly salary over 12 months immediately preceding the date of exit from the scheme.
- **Pensionable Service:** Service in years rendered by the member for which contributions have been received. Normally, this would be limited to Rs. 6,500.00 per month unless certain enhanced contributions are made by the employer.
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