Confused About EPS Withdrawal? Help Needed on Calculating Pensionable Salary and Expected Amount

Hello, I quit my job after completing 9 years and 4 months of service recently. I have not obtained any Scheme certificate and am currently self-employed. The contribution so far in EPS is around 82K. I reviewed the link provided for EPS withdrawal but was unsure how the EPS withdrawal amount is calculated since I am uncertain about which pensionable salary is considered for the calculation (is it 6.5K or the last year's average Basic+DA).

Link: [EPS Withdrawal Guide](http://www.epfindia.com/site_docs/PDFs/Downloads_PDFs/EPS95_update102008.pdf)

a) Paragraph 14 - on withdrawal benefit
> Table D, A & B, at the end

Now, I am planning to withdraw the EPS contribution and I am seeking answers to the following two questions:

1) Can you please explain how the EPS withdrawal amount is calculated in my case?
2) What total amount can I expect upon EPS withdrawal?

Thanks & Regards,
An

To calculate the EPS withdrawal amount, the pensionable salary considered for the calculation is the last year's average Basic+DA, not a fixed amount like 6.5K. Here's how you can determine the total amount you can expect upon EPS withdrawal:

1. Calculation Method:
- The EPS withdrawal amount is calculated based on your total service period and the average Basic+DA of the last year. The formula used is: (Pensionable Salary * Service Period) / 70.
- Pensionable Salary is the average of your Basic Salary and Dearness Allowance (DA) for the last 12 months before leaving the job.

2. Example Calculation:
- Let's assume your average Basic+DA for the last year was 10,000 and your total service period is 9 years and 4 months.
- Using the formula: (10,000 * 9.33) / 70 = 1,333.33.
- Therefore, you can expect an EPS withdrawal amount of approximately 1,333.33 based on this example.

3. Total Amount Expectation:
- Considering your contribution of around 82K, the total amount you can expect upon EPS withdrawal will depend on your pensionable salary and the total service period as explained above.
- It's recommended to calculate your specific withdrawal amount using the formula provided based on your actual last year's average Basic+DA and service period.

4. Scheme Certificate:
- Since you mentioned not having obtained a Scheme certificate, it's essential to ensure all necessary documentation is in place for a smooth withdrawal process.

By following the calculation method outlined above and using your actual salary details, you can estimate the total amount you can expect upon EPS withdrawal accurately.