EPFO Circular On Pension For Full Salary Dated 23.03.2017

Dear friends,
Kindly see the new EPFO circular on the above subject.
Abbas.P.S,
ITI Ltd.,
PALAKKAD - 678 623.

EPF circular on pension for full salary 23.3.17. Can any body give me the the formula for pension calculation in the light of above circular.Please also advise the calculation for deposit of amount for getting the revised pension.

Dear PURANIK KRISHNA,
Formula for pension calculation is, pensionable service x pensionable salary / 70. Deposit may vary depending upon the variation in salary and interest rate for your total service period. Better contact your Sub Regional PF Office in this regard.
Abbas.P.S

whether it applicable for Early pension taken member at the age of 55 Years.

Dear Anil Chander,
The above provision to contribute to pension fund on full salary is applicable to for reduced pensioners also. Kindly contact your PF Commissioner's Office.
Abbas.P.S

Hello, can any won tell me how to calculate pensionable service . I joined company in 1982. Scheme came into existence in 1995. I m due for retirement in Sept next year I.e.2018.after puting in 36.5 years of service.

As par Epf Pension Circular dated 23 03 2017 What Will be The new Pension and Who is aligiable for this pension Can anybody tell me ?

Dear Tendulkar,
For those contributed to PF on full salary (i.e in excess of ceiling limit) are eligible to contribute to pension fund on full salary. For those relieved from service and made full settlement can also opt by remitting the difference / arrears with interest.
Pensionable salary of those contributed on full salary will be calculated based on the actual salary. Accordingly the pension amount will be high.
Abbas.P.S

Abbasji
What about my request on my question posted yesterday about pensionable service

Dear Tolani Chatru,
If you contribute on ceiling limit, your service will be categorized into three. Service up to 15.11.1995, 16.11.95 to 31.08.2014 and 01.09.2014 to till completion of 58 years (or date of relieving from service whichever is earlier.)
Abbas.P.S