EPFO Pension Calculator: Through the Employees’ Pension Scheme (EPS), employees are given a monthly pension based on their length of service and salary. Here is the details of how much pension will you get after 10 years of service.
EPFO Pension Calculator How Much Pension After 10 Years of Service san
EPFO
Employees’ Provident Fund:
The Pension Scheme (EPS), run by the Employees’ Provident Fund Organisation (EPFO), is one of the largest social security schemes in India. Under this scheme, employees are given a monthly pension based on their length of service and salary.
EPFO Pension Calculator How Much Pension After 10 Years of Service san
EPFO Rules
Since 1995:
The Employees’ Pension Scheme (EPS) was started in 1995. This scheme was designed to provide a fixed income to employees from various sectors after retirement. To be eligible for EPS pension, a minimum of 10 years of service is required. Pension starts after completing at least 58 years of age. Minimum monthly pension is ₹1,000. Maximum monthly pension is ₹7,500.
EPFO Pension Calculator How Much Pension After 10 Years of Service san
EPS Pension
Minimum Pension:
Since 2014, the central government has fixed the minimum EPS pension amount at ₹1,000 per month. However, there has been a demand for increasing this pension to ₹7,500 per month for a long time. How much pension can EPS members expect after completing the required 10 years of service to be eligible for EPS pension? Let’s know its calculation now.
EPFO Pension Calculator How Much Pension After 10 Years of Service san
EPS Calculator
Pension Formula:
Monthly pension is calculated using the following formula. Monthly pension = (Pensionable salary × Pensionable service period) / 70.
Here, pensionable salary is the average of the salary of the last 60 months. It can be up to a maximum of ₹15,000. Pensionable service period is the total number of years contributed to the EPS account.
Did the company cut your PF but did not credit it to the account? If so, file a complaint like this
EPFO Pension Calculator How Much Pension After 10 Years of Service san
Pension Scheme
How much pension for 10 years of service?
For example, if an employee’s pensionable salary is ₹15,000 and pensionable service period is 10 years, the monthly pension he can get can be calculated as follows.
Monthly pension = (₹15,000 × 10) / 70 = ₹2,143
This is an example of how an employee can get pension even if the minimum service period is 10 years.
