as per EPF and mis provisions act, 1952
"5. Monthly Pension: This is based on a formula = (Pensionable Salary x Pensionable
Service) / 70.
(i) Pensionable Salary = average monthly salary over 12 months immediately preceding
the date of exit from the scheme.
(ii) 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 p.m.
unless certain enhanced contributions are made by the employer."
From India, Hyderabad
1"5. Monthly Pension: This is based on a formula = (Pensionable Salary x Pensionable
Service) / 70.
(i) Pensionable Salary = average monthly salary over 12 months immediately preceding
the date of exit from the scheme.
(ii) 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 p.m.
unless certain enhanced contributions are made by the employer."
From India, Hyderabad
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