Dear All,
I would like to know the procedure for calculation of Employees Pension under EPS'95 Scheme. Can anybody share your valuable experience?
I came to know from epfo that, the pensionable salary under EPS'95 pension scheme, will be considered in 2 spells, i.e. 1) Pensionable salary upto 31/08/2014 which is capped at Rs.6,500/- and, 2) Pensionable salary from 01/09/2014 which is capped at Rs.15,000/- @ higher levels.
But as per eps'95 scheme, the pensionable salary is the average salary, drawn in the latest 60 months to the date of superannuation, and is to be calculated in a single spell only.
I also would like to know that, what is the past service and past service benefit in case of the employees who joined prior to the EPS'95 scheme and are still in service?
Kindly update me.
regards,
P.G.Reddy,
7013038199
I would like to know the procedure for calculation of Employees Pension under EPS'95 Scheme. Can anybody share your valuable experience?
I came to know from epfo that, the pensionable salary under EPS'95 pension scheme, will be considered in 2 spells, i.e. 1) Pensionable salary upto 31/08/2014 which is capped at Rs.6,500/- and, 2) Pensionable salary from 01/09/2014 which is capped at Rs.15,000/- @ higher levels.
But as per eps'95 scheme, the pensionable salary is the average salary, drawn in the latest 60 months to the date of superannuation, and is to be calculated in a single spell only.
I also would like to know that, what is the past service and past service benefit in case of the employees who joined prior to the EPS'95 scheme and are still in service?
Kindly update me.
regards,
P.G.Reddy,
7013038199