We are contributing to EPF on the total salary (currently around 41,000). Will I be eligible to receive a pension based on 8.33% of 41,000, or will it be restricted to 8.33% of 6,500 as previously mentioned? The new EPF online form also allows for choosing a higher amount than 6,500. Please provide rules and suggestions regarding the same.
From India, Gurgaon
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1From India, Gurgaon
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Kindly go through your EPS remittance details. If you contribute based on the actual salary, i.e., in excess of the ceiling limit, your pension will be calculated based on the actual salary. Otherwise, you will receive a pension based on the ceiling salary only.
Regards,
Abbas P.S
From India, Bangalore
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Regards,
Abbas P.S
From India, Bangalore
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EPF PENSION CALCULATION.zip
EPF Pension xls new calculation.xls