1. Further to my article EPS 95 Scheme Eligibility for Higher Pension dated 05.01.2023, I have received several queries regarding the eligibility for a higher pension. Following Supreme Court Judgements dated 04.11.2022, confusion prevails among pensioners and working individuals people: will they also be eligible for higher pensions on submitting a joint option with the Authorities? There is no clarity on circulars issued by the EPFO in this regard.
Also Read: EPS 95 – Higher Pension Vs EPF – Comparative Analysis
An attempt has been made to clarify these issues with the help of Illustrations.
2. Background: Employees provident Fund Act 1952 prescribes 12 percent of the employee’s salary [basic pay and Dearness Allowance (DA)] contribution to the EPF by both the employee and the employer.
2.1 In the year 1995, the pension scheme was introduced vide Section 6A of the EPF Act. Under the said scheme, the employer’s contribution of 8.33 % was required to be diverted to the pension scheme. The maximum pensionable salary for the purpose was Rs 5000/- which was later raised to Rs 6500/-.[The pensionable salary is the part of an employee’s salary that is considered when calculating pension contributions].
2.2 In March 1996, a proviso was inserted in clause 11(3) of the EPS scheme giving the employer and employee an option to contribute a percentage of the actual salary, provided the employee and the employer have no objection.
2.3 Employees who were members of EPS 95 and willing to exercise contribution on actual wages in the pension fund were required to fill and submit a joint option Form to get the pension on actual salary
2.4 The employers were contributing 12% of the actual salary (Basic+DA) in the EPF account as an employer’s contribution. On receipt of the options form, they were to transfer 8.33% of salary exceeding Rs 5000/- or Rs 6500/- as the case may be, to the pension fund out of the employer’s contribution.
2.5 A joint declaration by the employer and the employee was required to be submitted to the Pension Authorities on the date the salary exceeds Rs 5000 or Rs.6500.
2.6 On September 1, 2014, the EPFO amended the Scheme to increase the limit of pensionable salary to Rs 15000/-per month.
2.7 A fresh option was to be exercised jointly by the employer and the employee for continuing pension contribution on actual salary. The option was required to be exercised by the member within six months from the 1st day of September 2014.
3. The whole issue is about restrictions regarding the time limit for exercising the option.
4. Hon’ble Supreme Court vide judgment dated 04.11.2022 has conveyed instructions in this regard.
Category of employees: The employees can be broadly classified into the following categories based on eligibility for a higher pension.
5. Employees who retired before 2014 without exercising the option: The employees who retired before 1st September 2014 without exercising any option have already exited from membership. They would not be entitled to the benefit of a higher pension (Para 44(iv) of Supreme Court Judgment dated 04.11.2022)
5.1 Illustration: Mr. Anuj was working with XYZ Limited. In 1995, his pensionable salary per month (Basic+DA) was Rs 6000/-. He was required to submit a joint option from the day his salary exceeds Rs 6500/- pm. Since Mr. Anuj was not aware of the proviso to 11(3), he did not exercise the option till the date of retirement in Aug 2005. Though the salary at the time of retirement was 10000/- per month, the amount contributed towards pension was restricted to Rs 542/-(8.33% of Rs 6500) only. The monthly pension was ascertained considering pensionable salary as Rs 6500/- only. He is getting a meager pension and is not entitled to the benefit of a higher pension.
6. Employees retired before 2014, and their Joint Option request was denied by the Authorities. EPFO vide circular dated 29.12.2022 laid down the condition for employees to receive a higher pension. The circular states that employees must have exercised the option for a higher pension before their retirement but was explicitly denied by the EPFO. Thus the employees who had exercised the option but the same were rejected by the Authorities are entitled to submit a joint option and get a higher pension.
6.1 Illustration: Mr. Bimal was also not aware of the proviso to 11(3) and retired in 2005 without exercising the option. On the date of retirement in 2005, he submitted the plea to the Authorities that proviso 11(3) was not in his knowledge and therefore higher pension benefit may be given to him.
6.2 The plea was denied by the authorities on the ground that there was a cut-off date for exercising the option.
6.3 Later on, it was held by Supreme Court in RC Gupta Case that the cut-off dates were not to determine the eligibility of employer–employee to indicate their option under proviso 11(3) for higher pension.
6.4 Now, he can submit a joint option form by login into the EPFO website.
7. Employees retired after 2014 but could not exercise the option. On September 1, 2014, the EPFO amended the act to increase the limit of pensionable salary to Rs 15000/-per month. Para 11(4) of the amendment stipulated that a fresh option be exercised jointly by the employer and employee for continuing contribution on actual salary.
7.1 Illustration: Mr. Chirag, was not at all aware of the Joint Option issue. His knowledge was limited to the fact that 12% of the employee-employer contribution is being accumulated in his retirement fund. He retired in 2018 and his account got settled. He received a lump sum PF contribution and a getting a very small amount of monthly pension (based on the amount diverted to the pension fund @ 1250 per month (before 01.09.2014 it was Rs. 542 only).
7.2 Though, he is eligible to submit the join option form but required to deposit a hefty amount towards pension contribution on actual salary. He needs to return all such amounts that he may have taken or withdrawn from the provident fund account.
7.3 The second major issue with employees like him that how to approach an ex-employer for submitting a JOINT OPTION. Some of the companies may even close as on date.
8. Serving Employees not exercised the option: This category of employees are entitled to submit the join option form as per Supreme Court Judgement dated 04.11.2022 but EPFO has not issued any guidelines so far for such employees.
The biggest challenge for such employees and their employers is to dig out records as old as 1995 and calculate the amount to be transferred from the PF Fund to the Pension Fund
9. Calculation of EPS Pension The formula to calculate the EPS pension is as follows:
(a) Monthly pension amount= (Pensionable salary X pensionable service)/70.”
(b) Pensionable salary: This refers to the average of the last drawn salary. “The pensionable salary has been defined as the average of last the 60 months’ salary.
(c) Pensionable service: This refers to the number of years for which contributions were made to the EPS account
(d) If a person superannuates at the age of 58 years and has rendered more than 20 years or more of pensionable service, then his service period will be increased by weightage of 2 years subject to a maximum of 35 years of pensionable service.
9.1 Illustration Mr. David has exercised the joint option and 8.33 % of the employer’s contribution has been amount diverted to the EPS account. His actual average salary for the last 5 years is Rs 50000/- per month. He has rendered services for 25 years
The monthly pension amount will be calculated as follows:
[50000 x 27(25+2)] / 70 = Rs 19285/-
Employees not exercised option but getting higher pension There is another category of employees who are getting higher pension because of a favourable decision given by various Courts, though they had never exercised the option.
10.1 The Supreme Court upheld the EPS-95 in 2003 in the OTIS Elevator case. The pension of 24,672 persons was revised later. Other pensioners got favourable orders from various courts subsequently. These pensioners are getting higher pensions though they had not exercised the joint option
10.2 EPFO vide circular dated 05.01.2023 instructed the regional offices of the EPFO to re-examine the cases of employees who retired before September 1, 2014, without exercising any option and were granted a pension on higher wages.
EPFO is likely to issue a follow-up circular, shortly, which would indicate the applicability of the higher pension option to other categories of employees/ pensioners, thereby completing the necessary compliance with the Supreme Court Order of November 4, 2022.
Employers are advised to stay prepared for its implementation, which may include understanding the financial implications of this option, assessing the extent of historical employee data available to them, and being ready to communicate this to their employees.
Disclaimer: The article is for educational purposes only
The author can be approached at caanitabhadra@gmail.com
Author Bio
hello,
I like to ask you whether the pension amount will be fixed until ones death or it will be in increasing mode ?
It will be fixed .
My father took voluntary retirement in 93, he was supposed to retire in 97, he is not getting any pension, is he eligible for eps 95.
I am retired after 2015 after joining service in 1985. Deduction towards PF and EPS were on fixed limits i.e.6500, 15000 etc. BOTH BYEMPLOYER AND EMPLOYEE. No deduction was ever made on salary higher than limits by anyone. Can I opt for higher pension by paying differential amount out of my pocket though employer never paid PF share on higher salary.
You can opt for higher pension if you have attained 58 years of age after Sep 2014
Very good explanation but still your help required as I am retiring on 28.02.2031 (58 years) i have to deposit 22.50 lacs for higher pension and projected pension will be 1.31 lacs if regular contributes to pension fund @ 8.33% of present Basic+DA (present 1.86 lacs) . This pension scheme is discontinued for new employees who joined after 01.09.2014 (closed ended). You think funds will be available for us after retirement. How will we be get pension if this scheme will not supported by govt in Pension Fund. Is this scheme viable. Monthly pension is huge amount.
No doubt , Government Support is must for higher pension by EPFO.
EPFO alone won’t be able to take the financial burden alone and that is the reason , there is reluctance from EPFO’s side.
In my view , once things get settled between EPFO & the Government and they accept the higher pension option , it is very unlikely to stop pension in between.
My date of Joining 01.06.2004 and Retired 05.06.2022, can I eligible for higher pension norms recently circulated.
upto 2015 my basic 11350,upto 2016 my basic13050, 2017 onwards my basic above 15000/- but EWS contributed Rs. 1250/- only. Kindly confirm my higher option is benefit ?
Yes , you can apply and it is very much beneficial
I started my job from 1985 and retired on February 2019. I was a member of EPF from the beginning. Before April 1999 my salary was less than Rs 5000 but after that my and employer’s contribution in EPF was deposited on full Salary but Rs 1250 was deposited in the pension fund on celling ie 15000 only. My salary at the time of retirement was 48000.
I had submitted joint application dated 21/5 /2018 for higher pension under supreme Court order dt 4/10 /2016 SLP 33032, 33033 which was rejected by EPFO.
Madam am I eligible to get higher pension under the supreme Court order dt 4 /11 /2022.
Not only you are eligible but also can upload your documents on EPFO portal now itself.
Refer EPFO circular 29.12.2022. They are allowing only for those who had applied and the application was denied by the EPFO.
Dear Madam,
If you kindly clarify regarding the years of pensionable service to be taken for calculation of monthly EPS pension, whether it will be —
1. date of attaining 58 years of age minus the date of joining the service, or
2. date of attaining 58 years of age minus 15th Nov 1995.
Thanks,
P P Chandra
Dear Madam,
If you kindly clarify whether in the folmula for calculation of pension, number of years of service will be taken as–
1. Date of attaining 58 years of age minus date of joining the service. OR
2. Date of attaining 58 years of age minus 15/11/1995.
Regards,
P P Chandra
point no.2
58 years of age minus age as on 15.11 95
Thanks Madam.
My husband expired while in service in August 2010 with last basic+da @ 20785 Pf contribution 12%on the same @ 2494. Am I eligible for higher pension
No , employees exit before 01.09.2014 are not eligible for higher pension.
Hi,
could you please clarify how much pension a widow/widower gets when employee dies in service.
If a person dies in service and his pension not started till that date , spouse will get 100% pension.
It can be concluded as -100% pension to a member’s spouse and 50% pension to a pensioner’s spouse in case of death of an employer
Madam, as regards submission of joint option form, my doubt is, suppose after submitting the option form, in future if I come to know that it would not be beneficial to me as per EPFO calculations, would this submission of undertaking be binding on me to take the so called enhanced pension option even though it is not beneficial? Can you please throw some light on this?
In my view , that option will not be available.
Form my company side it is clearly Mentioned that after diverting the amount to EPFO, company will not be responsible for any dispute or if EPFO will not settle higher Pension and I will have to resolve the problem with EPFO. So according to your questions there will be no other option to back from the agreed policy.
Very good article and clear all things related to higher pension.
Thank you Sir for your humble comment.
It really motivate to do even better.
Myself retired from PSU on 31 Dec. 2020 after completing 19.3 years service at 60000 basic pay plus DA. Now, can I opet higher pension RS. 380000 (as per calculation)refund to EPFO and which option is more important to me. Kindly explain.
yes Sir
you can do that
Higher pension adopt karne ke liye 15000 ke uper ke amount ka 8.33% jo hum ko epfo ko dena padega uspar rate of interest kya hogs pls.
Applicable PF rate of interest for that period
Mam ,
I retired in 2020 from a Public sector undertaking of Kerala.Eventhough our salary was higher than 15000,the company recovered only 1800 and the same amount as companys share towards provident fund till retirement.No option was also submitted for higher pension.At this situation whether we are eligible for higher pension?.Awaiting for your valuable reply.
Thanking you.
Yes – eligible to submit joint option Form for higher pension
Yes , eligible to submit Joint Option Form for higher pension.
Madam,
I retired from HZL in sept 2020 in the age of 53 yrs. And last basic was 58000/-and joined new jobs in another co. With a basic of 13300/- from march 21 to now.
Plz. Suggest what is beneficial for me.
In my view , higher pension option is better for almost everyone
R/mam, I was a employee of a Exempted establishment and retired on 31-10-2015.I
applied 03-07_2018 to EPFO for higher Pension on my actual salary basis ( with my other members) but the EPFO returned the documents on 04-10-2018 to we all members by saying that ” the establishment in which you were working is exempted from the employees’ provident Fund Scheme. Therefore, the circular No. Pension-1/12/33/EPS/Amendment/96/Vol.II/34007 dated 23-03-2017 don’t apply to you “”.
Mam I am in confused that whether I am eligible to apply for the ” Joint application for higher Pension ” as per the verdict of Hon’ble Supreme Court of dated 04-11-2022. please🙏 advice me.
thinking you,
KSRawat
You are very much eligible and in fact EPFO vide circular 29.12.2022 allowing only for members like you , whose application was declined by EPFO earlier.
Supreme Court vide judgment clearly conveyed – higher pension scheme provisions are applicable on exempted establishments also.
Very well explained.
You have covered all aspects..Not so easy.
I retired as Dy General manager,Accounts from a Punjab state understanding in 2012.
I sent my joint option after Kohli s case from my employer to EPF office , Chandigarh.
Some got higher pension..
I did not.
Now I have sent my option fresh to my employer in Jan 23.
Should I do anything more .
Raj Kumar Jindal
.
BCom,Llb,CWAI inter.
Thank you Sir for your humble comment.
Since you have already submitted Form with employer.
Now , Just wait for EPFO’s further guidelines in this regard
It is now being suggested by the experts that the members had opted earlier should again submit joint option form
I retired January, 2015 & our organisation is examted and received P. F amount from trusty board. I had joined 1977 .I did not submit any request for higher pension earlier based on full salary. Am I eligible for higher pension? IfYes what is to be done and procedure. I am ready to submit money to the fund. Whether any interest to be paid or not? Your valuable information and advice is requested.
Thanking you.
Asharfi Mandal,
In case you retired in 2015 at the age of 60 , then not eligible .
Retirement age for EPS purpose is 58 years. You attained age of 58 before Sep 2014 and this category is not eligible for higher pension as per Supreme Court Judgment dated 04.11.2023
I joined public sector in 1988&retaired in 2017,my pension is rs2206, my company was closed, now how to apply for higher pension,, please. advice me
Madam I left my company in 2012. After that I didn’t work anywhere. And my retirement date was 15-06-2022. Now I’m getting my pension Rs 2200/- From 2012 to 2022 how it will be calculated as I were not working any where. And what should I do to get the higher pension. kindly advice. Thanks
My husband while in service of a software company died on 9th May, 2021 without opting for higher pension. I and my two children recently received PF amounts. pension yet to be settled and received. At this stage can I opt for higher pension for widow pension and child pension. Please advise.
In my opinion , you are eligible for higher pension but PF may required to be refunded
Mam ,
I am an employee of Tata steel our pf account run by trusty can we get the higher pensions because till now any excercise not strted and not any information received by employer and union , if timeline is over then what is the option for us
You are eligible for higher pension. Employees of exempted Organizations ( PF managed by Trust ) are also eligible for higher pension .
Joint option Form is must for the purpose. Fill up the Form and get attested by your employer .
The form is to be uploaded on EPFO portal ( Though , it is not yet activated on EPFO website)
Guidelines from EPFO is awaited in this regard
EPS’95 Pensioners are with 12 years legal battle for getting higher pension without any cutoff date for exercise option for higher pension as induction of new members with employment in various areas is regular phenomena process.Supreme Court had clearly stated that there won’t be any cutoff date for getting option for contributing higher pension in R C Gupta and others judgement and that was upholds in recent judgment also 4-11-2022 but epfo is misinterpreted and issued circulars as not eligible. Where to go these 75 L old aged pensioners for justice?
Agreed Sir
EPFO shall issue guidelines and allow pensioners to exercise the option at the earliest.
My son while in service of a software company died on 19th May, 2021 without opting for higher pension. Being dependent father and mother we recently received PF amounts. pension yet to be settled and received. At this stage can I opt for higher pension as a dependent father. please advise in this regard . your advise is highly solicited.
Thanking you
with regards
Sir
In my view, dependent can opt for higher pension, but you may required to refund a big amount out of PF amount received.
MY FATHER MR. SUKUMAR SARKAR , A RETIRED EMPLYOEE OF JUTE CORP OF INDIA, HE IS GETTING PENSION OF AMOUNT 2587/- PER MONTH HE RETIRED ON JUNE , 2016 AND HIS SERVICE PERIOD MORE THAN 27 YEA R , IS HE ELIGIBLE FOR HIGER PENSION, IF YES PLEASE SUGGEST WHAT TO DO?
Sir
Your father is eligible for higher pension.
He needs to refund the EPF amount received. For calculation methodology, please refer my article dated 07.02.2023 on Tax Guru.
Please approach Jute Corporation for submission of Joint option Form
Sir,
I have been member in Visakhapatnam Regional and retirement was last December 2021 after completing 58 years age. Worked from1989 in various private companies with continuous membership. My basic salary was Rs.50000 past five years before retirement. In the pension order monthly pension was given Rs.3946 per month. Claiming pension fund also .Will I be eligible now to claim enhanced pension as per supreme Court order , pl.guide with format to approach local EPFO
Yes Sir , You are eligible for higher pension .
EPFO has not issued any standard Form for the purpose.
The form is to be uploaded on EPFO portal (Though, it is not yet activated on EPFO website) Guidelines from EPFO is awaited in this regard
Download the standard Form being issued by the organizations .( available on Google ) Get it attested and wait for EPFO to issue guidelines and activate on line submission facility on its portal
mai 1998 ko v.r.s. scheme ke tahat indu no. 5, mill se resign kiya. meri Salary oos samay 3500/- thi. abhi muze 784/- pension aati h. kya mai higher pension prapt kar sakta hun?
Nahi mil sakti .
2014 ke pehle exit member eligible nahi hein
Very good article , very well explained,
Thank you sir for your humble comment
my mother retired on 21/05/2021 still her pension not started by employer.Her last basic pay was around 38000/ what will be her monthly pension. If employer pass the case in this month. Is there any provision of paying the pension amount with interest. as commuted pension is also not paid till date w.e.f 01/06/2021
regards Purnima d/o meera singh
Approach EPFO office for her pension . If she has not opted for higher pension , the amount of pension may be very low.
In my knowledge , there is no such provision of interest on pension.
I have retired on 31.10.2000 after serving 27 yrs in Hidusthan Zinc Ltd.Iwas getting. Rs 568 pension
upto Aug2014.From Sept.2014 as a minimum pension I was getting Rs1000/-. Am I eligible for higher pension on actual salary,if I pay additional amt of contribution to P.F. Pl advise.
Thanks this has been very helpful.
I was in service with Organised and exempted company (PFC Ltd) having own PF trust in terms of EPF & Misc Act 1958. Proviso as of clause of 11(3) inserted to EPS had not circulared widely to all companies including PFC Ltd, obviously employees and employers are not aware of said proviso and as such joint option was not exercised and the same situation continued till matter highlighted in media report in 2022 after pronouncement of judgement in granting higher pension by SC.. For no fault of both employees and employers, not extending benefit of judgement to employees retired before 1.9.2014 is amounts to denial of natural justice. Please extend your service to these category of employees for the shake of natural justice.
i served calico chemicals & plastics division from 1969-1985 ( the co was closed) from 1986-1993( worked at phiroze sethana p Ltd) & from 1993- 2004) I worked at Godrej company. & retired in 2004 December..Now I am getting Min. pension Rs 1000 p.m. pl guide what is to be done for higher pension. pl guide . thanks
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I retired in 2015 iam geting pe sion of Rs1718 my last salary was 16509pm wull get higher pension
I retired at the end of December 2014,having been getting a pension of ₹2300,. I have given option while in service but was denied. am I eligible to apply for higher pension. if so how to approach. can you help me. I want to render the fees applicable if you can guide me and process my option for higher pension. the option given prior to my retirement is untraceble in the office records. leave your mobile/phone no in your reply. yvhemalathadevi 9441220342,hyderabad 500013
can you tell me how to apply for it? any online option available?
I am an ex employee of GSK India & left GSK in July 2021 and my last drawn salary was 79k and the avg salary for last 5 yrs was well above 50k. My current age is 56 yrs and I am getting RS 3393/- as monthly pension. could you kindly share your views pls !! Regards
You are eligible to submit Joint Option Form for higher pension.
Application is to be submitted on EPFO portal ( online only)
EPFO circular dated 29.12.2022 has prescribed the detailed guideline & the procedures to be followed.
my husbamd retired on april 2014 and gettinf pension only rs 2300 after 34 yrs of service. is he elgible for higher pension of eps 95
as he does not know he has filled joint action form or not
No , as he exited before Sep 2014
sir
I have taken of pension from 1-5-2007 at the age of 50 presently I am getting Rs. 1281 per month as pension since 1980 P. F had deducted whether I am eligible for higher pension
Sir
Employees retired prior to 01.09.2014 ( without exercising higher pension option) are not eligible
The pension calculation for 27 years of service is not correct. Pension has to be calculated separately for the service up to 31.8.2014 and for the period from 1.9.2014 till date of leaving. For the period upto 31.8.2014, pension will be calculated taking 12 months average salary and the period beyond. 1.9.2014 pension able salary will be based on 60 months AVG pay.
Sir, In my view , the pensionable salary will be average of LAST DRAWN 60 months salary .
I retired Jan, 2018 & our organisation is examted and received P. F amount from trusty board. I had joined 1985.I did not submit any request for higher pension earlier based on full salary. Am I eligible for higher pension? IfYes what is to be done and procedure. I am ready to submit money to the fund. Whether any interest to be paid or not? Your valuable information and advice is requested.
Thanking you.
Sir
Higher Pension option is applicable to exempted organization also.
You are eligible for higher pension.
You need to approach employer for submission of joint option to EPFO.
The amount to be refunded to EPFO need to be calculated with the help of your employer .
Madam, I retired in February, 2017 after working for 19 years in Tata Steel and 12 years in Tata Consulting Engineers.Since Feb 2015, I am getting Rs 2084 per month pension under EPS 95 . My basic salary at time of retirement was Rs 42,000 per month. I am ready to pay additional amount in EPF account to get higher pension. Can I get this, if yes, whom to approach, my employer TCE or EPFO. Kindly let me know.
regards
B C ROY
You are eligible to opt for higher pension. You need to approach your employer as the joint option Form ( Employee & Employer ) is required to be submitted to the EPFO
Service from 1971 to 2002.Membership of EPF. Joint option filed on 29.06.1992. Deduction on higher rate and deposited in the respective contribution account.I have applied for higher pension on 25.01.2023. Pl guide.
I am a EPF Member since July 1971 and retired on 05.02.2002.My last salary drawn was Rs.18600/- I filed joint option under para 26(6) on 29.06.1992 and also deductions were also on full salary as per form 3A for the year 2001-2002.I have applied for higher pension on 25.01.2023.Please guide me.Thanks and regards.
Sir
Have you applied on EPFO portal as per guidelines dated 29.12.2022? If yes, just to wait for further instructions from EPFO.
In case, your joint option request was not accepted / denied then by the authorities , you can submit option online with EPFO (, EPFO vide circular 29.12.2022 issued guideline for those members who had retired prior to 01.09.2014 )
In all other cases , EPFO guidelines are still awaited
I have joined in service on 23/4/1987 and joined in my present company on 6/6/1990 . My exit date in pension is 19/10/22 but date of joining in EPS is showing 6/6/1990 and date of joining in EPS is November 95 . How can i correct my dt of joining in EPF ? And how can I avail my higher pension. I will retire on October 2024 . Thank you Subrata De
You need to approach EPFO office for the correction
i joined service on 02.7.91 & retired in aug’21, getting eps pension from aug’19 & onwards. can i eligible for higher pension now as i am ready to return the employers pf amt settled at the time of my retirement. pl. clarify immediately.
Yes, you are eligible to submit a joint option for a higher pension as per Supreme Court Judgement.
Though guidelines from EPFO are still awaited
I m getting Rs.68000 as basic salary+38% as DA. Can u explain me about my EPF pension please. As I join my job 1April 1999 and served 24 yrs
Assuming the average salary for last 5 years was constant: 68000 + 25840= 93840
Your Pension will be 93840*26/70= Rs 34854 per month
I retired 31 December 2015 my basic is Rs 15480/-
per month.
Now i am getting Rs 2100/- and how much will i get higher pension
Please send to my mail
THANK YOU
The formula for pension on actual salary is
Actual salary ( Basic+DA) for last 5 years * pensionable service ( the no. years when you contributed to the pension fund ) / 70
In case your service was more than 20 years, the pensionable salary will be increased by 2 years.
in my case my father died on 15 dec 2021
on his EPFO salary account me my mother and younger brother got pension
his wage on date of exist is rs 6851
and personable salary is rs 14658
are we eligable for higher pension norms recently circulated
in my case my father died on 15 dec 2022 on his EPFO salary account my mother me and my younger brother got pension .
his wage on exist is rs 6856
and pension salary is rs 14658
are we eligable for higher EPFO pension norms recently published
His pension salary is within ceiling limit of 15000.
Higher pension clause is not applicable as on date.
Further , it depends on when he joined organization and whether his salary exceeds ceiling limit of 5000 or 6500 that point in time
thank you mam for your valuable guidance
Thank you Sir for your humble comment
My father had retired in the year 2004, unfortunately he died in 2008 and since than my mother is getting pension. Can my mother get benifit of higher pension in view of SC latest judgment?
Well explained article …Good show Mrs Anita
Thank you Sir for your humble comment.