Calculate approximate PENSION & WITHDRAWAL BENEFIT

Pension Calculation made easy - writeup
  • If your service is more than 9 years and 6 months, you are eligible for pension from 50 years of Age onwards. And hence you can not get back Your Pension Fund amount as Withdrawal Benefit.
  • If your service is less than 9 yeras and 6 months, you can Withdraw your Pension Fund amount forefieting the service you earned towards Pension. From 16.11.1995, 8.33% of your salary (From employer share) goes into Your Pension Fund
  • You can add up your service your earned in different EPF covered establishments by accepting Scheme Certificates and claim pension after 10 years of service and 50 Years of Age. If a member having a valid Scheme Certificate (service length is reconed only to determine the quantum of Pension) dies, his family is eligible for Pension.

    Fill this Form for Pension Calculation:

    		Withdrawal Benefit calculation Below
    Enter the Name:
    Date of Birth: - -
    EPF Joining Date - -
    Date of Leaving Service - -        Early Pension
  • If you left the service between 50 to 57 years of age after completing 10 years of service, you have to fill the Early Pension date below.
  • For pension from a date other than your retirement date, you have to fill that option date
    • Like to have Pension before 58 years of Age (above 50 Years & 10 years of service)?       Early Pension
    Date from which pension opted (other than your retirement) or Early Pension Date - -
    To be filled in case of death:
    Is this a Death Pension Case? Death Case
    Last Salary drawn before Deathrupees
    Is the Member is Spinister/Bachelor ?
    Your Wages ason 15.11.1995:rupees      Wages on 15.11.95
    Pensionable Salary (Average Wage during the last year.
    Rs. 6500/- Max. unless opted for Pension on higher wages)    		rupees      Pensionable Salary
    Break In Service upto 15.11.1995 (Period of days for which no wage is earned - This will be deducted while calculating the Past Service)days
    Break In Service from 16.11.1995 ( This will be deducted while calculating the Pensionable Service)days

    • Fill this Form for Withdrawal Benefit Calculation:

    		Pension calculation Above
    Enter the Name:
    EPF Joining Date - -
    Date of Leaving Service - -
    Average Wages of one year prior to Nov. 1995 (round to nearest 10):rupees
    Pensionable Salary (Average Wage during the last year.
    Rs. 6500/- Max. unless opted for Pension on higher wages)    		rupees
    Break In Service upto 15.11.1995 (Period of days for which no wage is earned - This will be deducted while calculating the Past Service)days
    Break In Service from 16.11.1995 ( This will be deducted while calculating the Pensionable Service) days
    Death Case

    Note:
  • In case of died member having family, pension is payable to (1) the spouse and (2) two children below 25 years of age. When a child reaches 25 years of age, the third child below 25 yrs of age will be given pension and so on. If the child is disabled, he may get pension till his death. In any case, only 2 children will receive pension at a time.
  • In case of member not having family, pension is payable to single nominated person.
    If not nominated and having dependend parent, pension is payable first to Father and then on father's death to Mother.
    ok (go to death case entry)       TOP
    Early Pension
    You may opt for early pension (reduced Pension), if: The pension amount will be reduced @ 3% progressively for every year short of 58 years of age.
    Eg. If a person of 56 years age opt for reduced pension, and his calculated pension amount is Rs. 1000/-, his reduced pension will be  1000   X   (0.97)2  = Rs.941/-
    ok (go to pen.before 58Yrs)
    Commutation
    (not available now)
    ok (go to commutation)       TOP
    2. Capital Return
    (not available now) ok (go to captial return)       TOP
    Wages as on 15.11.1995
    For pension calculation, wages on 15.11.1995 is categorised as two slabs, viz., below 2500 or above. Pension will be calculated considering which slab you belong to
    ok (go to Wage 15.11.95)       TOP
    Pensionable Salary
    The service and Pensionable salary are most important factors determining your pension amount. Pensionable salary is the average of last 12 months salary of which Employer has contributed to EPS @8.33%. Again salary may be different from the salary you draw. As per EPF Scheme, the highest salary for which employer has to remit contributions to EPF is 6500/-. That is, employer has to remit 8.33% of actual salary or of Rs. 6500/- whichever is minimum. That is, evenif your salary is 20,000 per month, your employer need to contribute to EPF as if your salary is 6500/-.
    If there is a disproportionate increase/change in the salary drawn during last year (so as to increase the Pension), the computer will identify it, and appropriate action will be taken by the office against the Employer/Employee responsible.
    ok (go to Pensionable salary)       TOP