Pension Calculator Under Epf Scheme - XLS Download

Dear Sir,

I have been an employee at the National Heart Institute since August 1981. I am planning to retire in July 2015. My current basic pay is $12,700, DA is $13,589, and the total gross salary is $34,561.

Could you please let me know how much pension I will receive after retirement?

Thank you.

Best regards,
Shyambali Yadav

Dear Shyambali Yadav,

Your Past Service Benefit for 14 years (till 16.11.95) - 105. Multiplying factor as per Table B - 4.485. Pension for Past Service - 105 x 4.485 = 471 - (1).

Pension w.e.f 16.11.1995 = pensionable service x pensionable salary / 70 = 19.63 x 7916.67 / 70 = 2220 - (2).

Total Pension, (1) + (2) = 471 + 2220 = 2691.

Abbas.P.S

This is indeed great work, Abbas. I request you to please share Table B as well if you have it, as the provided link is not working. This will be very helpful. Thanks.

Dear Harpreet Walia,

Table B can be downloaded from EPFO. However, I shall reproduce it as follows:

[TABLE B
(See Paragraphs 12 and 14)
FACTOR FOR COMPUTATION OF PAST SERVICE BENEFIT UNDER THE CEASED FAMILY PENSION SCHEME FOR EXISTING MEMBERS ON EXIT FROM THE EMPLOYMENT
YEARS FACTOR
Less than 1 1.039
Less than 2 1.122
Less than 3 1.212
Less than 4 1.309
Less than 5 1.413
Less than 6 1.526
Less than 7 1.649
Less than 8 1.781
Less than 9 1.923
Less than 10 2.077
Less than 11 2.243
Less than 12 2.423
Less than 13 2.616
Less than 14 2.826
Less than 15 3.052
Less than 16 3.296
Less than 17 3.560
Less than 18 3.845
Less than 19 4.152
Less than 20 4.485
Less than 21 4.843
Less than 22 5.231
Less than 23 5.649
Less than 24 6.101
Less than 25 6.589
Less than 26 7.117
Less than 27 7.686
Less than 28 8.301
Less than 29 8.965
Less than 30 9.682
Less than 31 10.457
Less than 32 11.294
Less than 33 12.197
Less than 34 13.173]

51. Subs. by G.S.R. 438(E), dated the 10th June 2008

Abbas.P.S

Hi, can you provide a calculation for EPS after the recent amendment? My DOB is 01.01.1963, and my date of joining is 28.08.1984. My basic salary as of 1995 was over 2500, and today it is more than 15000. If possible, could you create an Excel sheet for this information?

Dear Mr. B.K. Roy,

Your past service benefit is 85 x 7.117 = 605. (1)

The pension for pensionable service is 15000 x 27.1224 / 70 = 5812. (2)

The total pension is the sum of (1) and (2), which equals 6417.

Abbas.P.S

Dear Sir,

I have retired from RINL, Vizag Steel on 30-06-2012 as AGM (Personnel). I joined VSP on 08-06-1977. My contributions for EPFS started from 01-11-1977. I had continuously worked without any breaks in my service until my retirement. Now, I would like to know the pension that I should receive after my retirement, considering my past service before 1995. Please send the calculation sheet as well. If you need further information, please let me know, and I will provide it.

Thank you,
Yours truly,
M Gurunadha Rao
mgurunadh@gmail.com
Mobile No. 9000828829.

Dear Abbas,

I trust you are doing well. I want to know if a person who has withdrawn an amount of PF accumulated and pension fund from their previous service due to unawareness of the rules can still be eligible for continuous service. After leaving the initial job, the person joined a new organization but has not completed more than 5 years of service there. At the time of leaving the initial job, the individual had about 5 years of service. Is it possible for them to accumulate both the services, old and new, and be eligible for the pension scheme?

I would appreciate it if you could let me know. If the answer is yes, please share the process for how the person should proceed in this regard.

Regards,
AG

Monthly pension is calculated using the formula: Monthly pension = (Pensionable salary * Pensionable service) / 70.

The division by 70 is determined based on specific calculations related to factors such as retirement age, contribution years, and benefit payout structures. The number 70 is commonly used in pension calculations to determine the monthly pension amount.

If you have any further questions or need clarification on this calculation, please feel free to ask.

Ashutosh Srivastava

Dear Sir,

Will you please give me an explanation of salary on separation from service and how it is calculated.