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#Sanjay Sankhyan
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Pension, leave encashment, and communication gratuity are important benefits that employees receive as part of their overall compensation package. These benefits play a significant role in providing financial security and stability to employees, especially after they retire or leave the organization. In this article, we will discuss how to calculate these benefits and the advantages of opting for the Old Pension Scheme (OPS).
Pension is a regular payment made to a retired employee by the employer. The amount of pension is typically calculated based on the employee’s years of service, average salary, and other relevant factors. To calculate pension, you can use the formula:
Pension = (Average Salary x Years of Service) x Pension Percentage
Leave encashment is the payment made to employees for the unused leave days they have at the time of retirement or resignation. The amount of leave encashment can be calculated by multiplying the number of unused leave days by the employee’s daily salary rate.
Communication gratuity is a one-time payment made to employees for their years of service. The amount of communication gratuity is typically calculated by multiplying the employee’s last drawn salary by the number of years of service and a predetermined factor.
Now, let’s discuss the benefits of opting for the Old Pension Scheme (OPS) as opposed to the New Pension Scheme (NPS). OPS offers a guaranteed pension for life, which provides financial security to retirees. In contrast, NPS is market-linked and does not guarantee a fixed pension amount. Additionally, OPS allows for a higher pension percentage based on the employee’s years of service and average salary, while NPS offers lower pension amounts.
Furthermore, under OPS, employees are entitled to leave encashment and communication gratuity benefits, which are not available under NPS. These additional benefits provide retirees with extra financial assistance during their post-employment years.
In conclusion, pension, leave encashment, and communication gratuity are crucial benefits that contribute to the financial well-being of employees, especially after retirement. By calculating these benefits accurately and understanding the advantages of opting for OPS, employees can ensure a secure and stable financial future.
Pension band honi chahiye is pension k karan aane vaali generation ka gala gyonta jaa rha ha
1 pension= 46,900
2 family pension= 28,140
3 commutation 40%= 14,06,328
4 pension after commutation= 21000
5 leave encashment= 7,19,133
Leave encashment m thoda sa doubt h sir kya HPL bhi isme judegi?
Plz rply…..
Gis ka amount Kitna miltaa h
Very nice sir
Pension= 46900
Family pension= 28140
Commutation1406328
Pension after commutation= 32900
Leave encashment = 719140
In this example of commutation 40 % of 25000 is 10000 X12X 8.371=1004520 is this right or wrong please. and please reduced pension
sir one query.
If a employee died before superanuation without completing qualifying service off 10 years. is his family/Spouse entitled for family pension or enhanced family? pension
4
Ten years
Sir TTA rule par video to banao plz
10 yrs
10years
Sir rajsthan me job karta tha ab mp me karne laga kya doosra gpf nomber ban jayega
Great
Sir kya NPS main retirement ke samay gratuity our leave encashment milta hai kya aur kaise milta hai
❤❤
Only ten years
Sir plz give me the idea of pension after commutation in the given example.
Sir what is ex gratia? to whom it is admissible?
Sir we have Commutation calculation of ur example 40% of 25000 × 12 × 8.371= 1004520
And Reduced pension calculation is 15000 +DA on full Pension
Sir Pl check is it correct
1 )Pension 46900
2 )Family pension 28140
3)Commuted value of pension 1884479
4) pension after commutation 28140
5 )leave encashment
Pension after commutation 28140
Y
6) leave encashment 719133
D
Sir aapne bahut acha samjhaya thank u so much.
Plz see video from 21:51 to 22:10
Comutation pension
As per your eg.
If BP =50,000
DA- 31%
Basic pay for pension= 25,000
Comutation pension= BP for prnsion * 40%
Comutation Pension = 10,000
Aap video mei 19,560 bol rahe ho. I guess ye galat hai.
Further
Commutation value of pension = BP for pension * 40% * 12* 8.371
= 25,000 * 40% *12 *8.371
= Rs 10,04,520
Aapka video ki slide mei Rs 7,85,936 aa raha h.
Pension after commutation= last basic pay for pension – comutation pension
= 25,000 – 10,000
= Rs 15,000
Aapke video ki slide mei Rs 11,736 aa raha h.
Isse bahut confusion ho rahi hai.
If possible please correct this
DIY question
1. Pension
Basic pay for pension = Rs 35,000
Pension =BP for pension +DA
Pension = Rs 46,900
2. F. Pension
BP for F. Pension= 30% of last BP
= Rs 21,000
F. Pension = Bp for F. Pension + Da @34%
= Rs 28,140
3. Commutation pension 40%
= 40% of BP for pension
= Rs 14,000
4. Pension after commutation
= BP for pension – commutation pension
= Rs 21,000
5. Leave encashment
= Rs 7,19,133
I have also calculated the following.
RG = Rs 11,95,950
Commutation value of pension = Rs 14,06,328
Plz tell if all the answers are correct or not.
If not plz tell the correct answers
Plz do reply as the Exam of FA is on 21st Nov 23
Thanks & regards.
None of above
Very good sir
Option 1 10 years for pensions
My age is fifty seven years my service 32 years in gpvt service
Sir commutation of pension m reduced pension 11736 kaise aaya plz explain kare
Very effective & informative sir.
Thank you.
10y
Promotion and gratuity k liye dailywages service count ki jaati hai kya
Very nice knowledgeable video