Understanding Your PF Pension: How Much Can You Expect When Retiring in 2022?

Our organization is deducting the PF as per government rules, but the fund deposited by our organization in the pension fund is Rs. 541/-, and the balance amount is transferred to our PF account. In this case, how much pension can I get if I retire by 2022?

Our organization is deducting the PF as per government rules, but the fund deposited by our organization in the pension fund is Rs. 541/-, and the balance amount is transferred to our PF account. In this case, how much pension can I get if I retire by 2022? Kindly furnish your date of birth, date of joining in PF, salary on 16.11.95 (if applicable), and break in service details (if applicable) for pension calculation.

Abbas.P.S

I apologize for the delay in responding as I did not receive any notification while logging in. I only saw your query today.

Details for Pension Calculation

DOB: 07/01/1964
DOJ: 01/04/1986
Salary on 16th November 1995 was 15,000 per month.
Break in service: None.

Regards

Dear Rajiv K Mehta,

Your Past Service benefit (up to 16.11.95) slab is 85 and the multiplying factor as per table B is 7.686. Hence, the benefit is 85 x 7.686 = 653.

Pensionable service w.e.f 16.11.1995 is 27 years (approx.) and with 2 years bonus is 29 years. Pensionable salary is salary x service / 70 = 15000 x 29/70 = 6214.

Total pension is (1) + (2) = 653 + 6214 = 6867.

Abbas.P.S

Dear Sir,

Your establishment is exempted from EPFO, so the EPF contribution (EE and ER) is maintained by the establishment, and the pension fund is transferred to EPFO from the establishment.