As per the Employees' Provident Fund (EPF) and Miscellaneous Provisions Act, 1952:
Monthly Pension
This is based on a formula = (Pensionable Salary x Pensionable Service) / 70.
- **Pensionable Salary:** Average monthly salary over 12 months immediately preceding the date of exit from the scheme.
- **Pensionable Service:** Service in years rendered by the member for which contributions have been received. Normally, this would be limited to Rs. 6,500.00 per month unless certain enhanced contributions are made by the employer.
From India, Hyderabad
Acknowledge(1)
Amend(0)
1Monthly Pension
This is based on a formula = (Pensionable Salary x Pensionable Service) / 70.
- **Pensionable Salary:** Average monthly salary over 12 months immediately preceding the date of exit from the scheme.
- **Pensionable Service:** Service in years rendered by the member for which contributions have been received. Normally, this would be limited to Rs. 6,500.00 per month unless certain enhanced contributions are made by the employer.
From India, Hyderabad
Acknowledge(1)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Pension Fund Regulatory & Dev Authority Act 2013.pdf
EPF Pension.xls
EMPLOYER COMPENSATION AS PER W.C. ACT.doc