Supreme Court has given a decision in favor of Pensioners with respect to the 1995 EPS rule. However, Exempt Trusts are not allowed to receive the aforementioned benefit.
I worked in Mini Ratna PSU - M/s HCL with a salary structure of Basic: 24000/- per month (along with CPSU DA) as of January 1, 1995 in E-II Scale. I retired in January 2014 at the age of 60 as E-IV.
My pension eligibility was in February 2012 and amounted to Rs. 1803/-. Currently, my pension stands at Rs. 1969/-.
If the same benefit is allowed, could you please advise me on the amount I would need to pay to EPF towards contribution? Below are my details for reference.
Also, I would like to inquire if there is any software or amortization chart available for this purpose.
From India, Mumbai
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I worked in Mini Ratna PSU - M/s HCL with a salary structure of Basic: 24000/- per month (along with CPSU DA) as of January 1, 1995 in E-II Scale. I retired in January 2014 at the age of 60 as E-IV.
My pension eligibility was in February 2012 and amounted to Rs. 1803/-. Currently, my pension stands at Rs. 1969/-.
If the same benefit is allowed, could you please advise me on the amount I would need to pay to EPF towards contribution? Below are my details for reference.
Also, I would like to inquire if there is any software or amortization chart available for this purpose.
From India, Mumbai
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Please forward the application to the relevant department and inquire about the outstanding principal amount, accrued interest, and Form 3A from the employer during the mentioned period. If you have consistently been receiving wages above the specified ceiling amount from 1995 to September 1, 2014, you are eligible for certain benefits.
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EPFO's Decision on Enhanced Pension Benefit
EPFO has not extended the enhanced pension benefit as per the Supreme Court order to the exempted trust PF members. This is a controversial decision and is hotly contested by the Exempted Trust members. Many court cases have been filed, and the final word on the matter is yet to come.
Pension Calculation
Pension is calculated by the formula: pensionable salary multiplied by pensionable service divided by seventy. The pensionable salary is the average of basic + DA of the last 12 months of contribution to EPS. At any rate, you can hope for a pension of not less than Rs. 25,000/- per month if the demand is agreed.
From India, Mumbai
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EPFO has not extended the enhanced pension benefit as per the Supreme Court order to the exempted trust PF members. This is a controversial decision and is hotly contested by the Exempted Trust members. Many court cases have been filed, and the final word on the matter is yet to come.
Pension Calculation
Pension is calculated by the formula: pensionable salary multiplied by pensionable service divided by seventy. The pensionable salary is the average of basic + DA of the last 12 months of contribution to EPS. At any rate, you can hope for a pension of not less than Rs. 25,000/- per month if the demand is agreed.
From India, Mumbai
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