EPF Pension Calculation Process in Telugu: EPF members who contribute minimum 10 years for EPF pension will become eligible for EPF monthly pension amount after retirement. This monthly pension will be paid to them after 58 years of their age.
EPF pension calculation formula :
(Last 5 yrs avg salary x Total service period)/70…(read more)
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EPF Pension Calculation After Retirement
The Employees Provident Fund (EPF) is a retirement savings scheme introduced by the government of India for the benefit of employees. The EPF scheme offers financial security to individuals after their retirement. Upon retiring, employees can choose to withdraw their EPF savings or opt for a monthly pension.
Calculating the EPF pension after retirement involves various factors. The amount of pension an individual receives is dependent on the number of years of service and the salary earned during their employment. The EPF pension calculation is based on a formula that takes into consideration the average salary and the number of years of service.
To calculate the monthly EPF pension amount, the average salary is calculated based on the last 12 months of service. This average salary is capped at a certain limit, which is determined by the government and updated periodically. Currently, the limit is capped at Rs. 15,000 per month. If an employee’s monthly salary during the last 12 months exceeds the cap, only Rs. 15,000 will be considered for the calculation.
The formula used to calculate the monthly EPF pension is as follows:
(Pensionable Salary/70) x Service Period
The pensionable salary is the average salary determined as mentioned above. The service period is the number of years the individual has contributed to the EPF scheme. The 70 in the formula represents the divisor set by the government.
For example, let’s consider an individual who has an average salary of Rs. 12,000 per month during their last 12 months of service and has contributed to the EPF scheme for 30 years. Using the above formula, the EPF pension calculation would be:
(12,000/70) x 30 = Rs. 5142.86
Therefore, this individual would be eligible to receive a monthly EPF pension of approximately Rs. 5142.86.
It is important to note that the maximum pension amount that can be received under the EPF scheme is capped at a certain limit. As of 2021, the maximum monthly pension amount is Rs. 7,500. However, individuals who were already receiving a pension exceeding this amount before the cap was implemented are not affected.
Additionally, the EPF scheme allows for the commutation of a portion of the pension. This means individuals can choose to receive a lump sum amount instead of the monthly pension. The commutation factor is determined based on the individual’s age at the time of retirement.
In conclusion, the EPF pension calculation after retirement is an important aspect of financial planning. Understanding the factors that influence the calculation and the government-set limits is crucial for individuals to make informed decisions regarding their pension. By knowing how their EPF pension is calculated, individuals can ensure a secure and comfortable retirement.
Sir what is 70 ple replay
The EPFO is allowing the pension by bifurcating pensionable salary of Rs.5000,. 6500 and 15000 which was applicable in different period.
Last five years average salary is not being taken as pensionable salary
Please clarify.
What is the meang of 70
Sir my mother is Bedi roller pf labor 2007 pf vachindi she is eligibility pension are no after 2005 pf labor ku pension vastunda please clarify
Pf cutavitheya government pension radha a annaya
My basick +da 2000 18year sarves I get how much pension
Salary means Basic + DA and other benefits. Or only Basic salary only confirm.
Bro, maa uncle 60 y completed and retired, applied for form 10d. Pension contrubution kuda acct lo ki vastunda, form 10d settle ayina tharvatha. Pension contribution 20000 undi idi kuda acct lo paduthunda
Service 8.7 persoon elgible
Monthly salary 1.86k 7 years service how much will be the pension?
How PF Office knows our salary.. we are not providing anything (like payslips .. ) to them…
Pf పెన్షనర్ ఆసరా పెన్షనర్ కు అర్హుడా?
Pravite jobs a ga
Ma father oka company lo 23 years chesaru ayana age 45 ippudu ayanaki pension apply cheyali contribution 30k vundi form 10D apply chestha entha vasthadi enni years vasthadi..?
My salary pay slip lo basic amount + HRA Ani undi…..meru chepinattlu basic + Da.. under ki vatunda plz tell me
In middle for 2 year won't contribute any issues ?
Ye private job chesi na pention life long vastada bro..private job enni years cheste pention vastundi replsy me bro
నా బేసిక్+DA కలిసి 35000 ఉంది. ఈ ప్రకారమే last 5 years లెక్క. చూస్తారా లేక basic+DA మీద ఏమైనా సీలింగ్ ఉందా.. అంటే 15000 వరకు మాత్రమే pentionable amount అంటూ అంతే పరిగణనలోకి తీసుకుంటారా..
7 years service complete ayiendi pension ki eligible aa kadha…??? And pf withdrawal chesam kani 10c amount passbook lo unna antha raledhu sir
If we have more than 20 years service, then how much the bonus service, 1 year or 2 years?
what is the meaning of 70 ?
Monthly salary 66000/-, 23 yrs service how much will be the pension
10 years kadite saripotunda Leda 10 years kattina 58 years ravala
My total service is 34 years, how it would be calculated
Y divide 70 ????
Suppose nenu oka 10 years service chesi tarvata stop chesaanu anukondi. 10 years chesaanu kaabatti pension ki eligible avthaanu. Ventane nenu pension thisukodaaniki eligible avthaana?
Leka only after 60 years pension isthara?
Bd labours of ni ala calculate chestharo cheppagarala sir
Salary in the sense basic or gross
You have to say clearly
Good info
Idi pvt company lo chesina vartistunda
Sir. నేను 6 ఇయర్స్ సర్వీస్ లో వున్నా.. నా pf amoumt అడ్వాన్స్ తీసుకున్న so నేను pension కి eligibility na