What an amazing explanation especially the last few minutes where your summarized the overall calculation and compared it with Systematic Withdrawal Plan. The real catch actually is on the tax on the monthly pension. Looking at history of tax slabs in India we cannot hope much from Indian governement.
Sir, I have retired on Msy 21, 2021 and my early perdition has already started from that date. Now,if I want to opt fir higher pension what do I need to do? And also, if my higher pension is approved and I pay the differential amount. shall I get arrears for the earlier period?
As per EPFO notification on 3rd May (S.O. 2061 (E) the following is written under point (ii): “the increased contribution shall be applicable to basic wages, dearness allowance and retaining allowance to the extent such basic wages, dearness allowance and retaining allowance exceed fifteen thousand rupees per month”. This means that 1.16 will not be on total wages but only the part of wages which is excess of 15,000/-. Similar explanation is also present in EPFO help file for approving higher pension application at employer portal. In the help file it is written clearly that 1.16% should be calculated only on wages that exceed 15,000/- For e.g. If total wages is 20,000/- that 1.16% should be calculated on 5,000 only and not on 20,000/- from 1st Sept 2014. According we have already approved 2 applications of higher pension from our employer portal by uploading wages text file successfully i.e., no error was detected and current status of Higher Pension application is “Approved by all Employer with wage file”. Just want to add that while making the wage text file, we calculated 1.16% from 1at Sept 2014 onward on wages exceeding 15,000/-. Regarding pension due amount along with interest, we have just reflected the pension due without interest as there is complexity in the calculation of interest. Logically EPFO will rely on wage detail uploaded by the employer and they can easily calculate the interest due using software. EPFO should not ask the employer to upload wage text file but they want to make the process difficult so that number of applications for higher pension gets reduced.
Thanks for sharing your experience with the audience. Yes, it should be calculated on the increased amount after 1st Sep 2014 only. Can you share your contact detail on feedback@everypaisamatters.com as I would like some inputs around the employer portal. A lot of people have asked the questions and your knowledge on this subject will surely help many.
You considered the very edge case of a person who has a starting basic salary of Rs. 50000 in the year of 2014 with 35 years of working from there. That time and even now most people used to start their career with like 15k total salary and it changes abruptly
Hi How can I enter details of missing service details, my first employer was maintaining PT Trust and deducted amount for EPS as well. However EPF trust site does not mention the service period of my employment with this organisation. When I enter PF trust details under members ID EPF site is not accepting details
Is there any chance of change in formula for calculation of pension in epf? ...like instead of keeping 5 yrs of basic +DA , epfo can keep whole service basic + DA in pension formula?
Sir please ek information bta dijiye....mene epf ki amount withdrawl ki hui hai past me toh higher pension me aane pr mujhe wo nikali hui amount jma krni pdegi...plz reply?
Mera joining date 2004 hey aur mera besic salary 2021 may Rs 15000 cross kiya abhi Rs 20000 se jada hey mera calculation keyse hoga? Kuch bata sakte hey please.
Mere father 2017 mai retier hue unki last salry 40000.. job 34 years ki..unki kitni pension lagegi aur kitna paisa pehle daina padega.. abhi 2940 pension mil rhi hai.
All of this clarification goes to those employees who are still in service wef 1st Sep'14. What about those persons who have already retired by 2013! Pl tell us what amount will be if pension is revised. Thanks.
Thanks for the detailed information. I joined EPS in November 1995. Employer contribution was 12% of EPFO ceiling of 5000 till 2001 and 6500 thereafter. My basic salary was higher than this limit. I changed my job in 2008, after which current employer is contributing 12% of basic to date. I am due to retire next year and am considering to opt for higher pension. Will my pensionable service of 1995 to 2008, wherein employer contribution was on EPFO ceiling, be considered for calculating higher pension. Or will it be only from current employer from 2008? I withdrew the PF corpus when i changed job in 2008, but obtained a Scheme certificate for continuity of pension.
I had joined the EPF in the year 2005, and Till date Rs 1850 (1250+550) had been added to my epf account Which accumulates to 6 Lacs over past 18 years. My current salary is more than 60000 p.m but my employer still imposed a capping of 15000. If I opt for higher pension will my existing corpus remains intact. And will my employer be bound to remove capping of 15000 ?
Rs.131,85,262/- will generate Rs.82,400/- per month at the interest rate of 7.50% (Prevailing rate is upto 9% in different banks). Whereas, the pension will be Rs. 85,253/-. Therefore, I feel that in the given case, it is a total loss for the member to opt for higher pension. Moreover, the Principal amount of Rs. 131,85,262/- will be with EPFO if you opt for pension whereas, if you don't opt, it will be with the member and he can use it the way he wants to acquire the assets or investments. Thus, It will be a foolish decision to opt for higher pension in the given case.
What if all money deposited in Bank is taken by people like Malya or Neerav Modi... You'll only get 5 lakhs... Is it worth putting crore rupees in Indian banks?
@@Ravishns for interest rate of EPF is not straight forward 72000*8/100=5760, there is a separate calculation sheet given, check in UAN passbook page, there is link "how interest rate calculated", it won't be 5760, it will be less than that, as it is calculated based monthly basis
@@AmrinderSingh729 Never keep all your savings in one basket. Invest money in real estate ( earn rent), invest some money in small savings schemes, invest in treasury bills, government bonds, mutual funds, gold ETFs, physical gold & finally in bank FD. I will guarentee you that you will not only beat inflation but also multiply your wealth. If you are someone who is a conservative investor then only go with higher pension. BTW this is not an investment advice but just an opinion. In my opinion NPS is a better option for pension than EPS. EPS doesn't earn any interest unlike NPS & you cannot manage your investment portfolio hence the pension from EPS will be always lower.
On member portal excel format calculator is already given. Simply employee needs to put their wages monthly basis from Nov 95 till march 23. (interest + 8.33% + 1.16%) get calculated automatically Summary gives amount to be transferred or adjusted
First of all thanks for the vedio. I retired in 2021 after completing 37 years service. My last 5 years avg salary per month was 2.5 lakhs. What is the higher pension i am eligible for and how much money i will have to remit? Please clarify
Amitji, Excel file downloaded and calculation done. A doubt where need clarification. Calculation starting year is 2014, whereas i started in career in 1997 and retiring in Dec 2031. How to take care this complexity?
Higher pension ke liye Jo share epfo ko return karna hai, vo sirf employer share se hi hoga return ya usme employee share se bhi epfo amount nikal lega??? Employee waala contribution safe hai ya usse bhi risk aayega higher pension choose Karne pe. Kindly reply
Salary increase taken is very low up to 3-4% which is making the recovery too long and unattractive but same will completely change if we take 8-10% hike in salary…one should calculate his own case for real outcome as long as pension formula doesn’t change…
Last time I created video (still there) with 10% hike and people commented that 10% is very high. This time I created with 3% and comment is its too low. Karein to karein kya? Which is why I said, this is example and everyone needs to make their own assumptions.
While filling form for joint option (higher pention) getting this error "no details found against uan: ------ ". Can anyone tell the reason why it is happening? Note: my father has two UAN number.
Sir chalaki epfo due to 1.16 percent additional contribution from employer contribution 12 percent side no difference paid employ or employer contribution.effect loss of final pf settlement for employ low pf ammount.
it is all about life expectancy post retirement age, (58), how many months a EPF member may live healthily to receive the higher pension, and does his spouse also working similar with earning potential, what is the expectation on corpus fund, post retirement like children education, house, marriage or any other, also please note, post 58 years if one still working till 60 years, he will get two bonus years for the calculation of pension, also please note EPS is pooled fund, the amount you accumulate does not come back, and does not earn any interest, it will come back in the form of PENSION with a last 60 month average basic salary calculation*total no of service/70
Sir, I got my retirement on Jan,2006,I had been contributing@12percent from monthly salary beyond15000/nd eps rate was 8'33@,on ceiling amount of Rs15000/,kindly clarify whether I am entitled for higher pention or not, if yes how much arrear has to be paid nd is it profitable at this age
Sir, i wanted to ask you that my father has opted for joint option he has retired in 2021 and his service is 35 years and he hasn't yet withdrawn his PF amount. Now he wants to withdraw full PF amount so At this time, will epfo give his Pf amount fully within 10 days? As earlier in joint option form he has written full amount as balance in his pf account. But now he wants to withdraw it and want to refill the joint option form with zero balance in pf account and put yes to undertaking that he will deposit money whenever demanded. So, please tell me that Should we opt for claiming our full PF money now ..and then wait for 10 days to get the full amount and then again fill teh joint option form? Do we get the PF full amount in 10 days or it will take long time? As we can only fill joint option till 26 June
Hello There, Thanks a lot for the Video and explaining in good detail. I have been employed in India since 2005 but in 2014, I moved out of India (withdrawing the PF balance) and returned back to India by end of 2017. As the Higher Pension scheme is expected to take ~40% of accumulated PF(Employer share). In my case, there is no accumulated PF. Here are the questions I have: 1. As I have rejoined a job in India in 2017, am I actually eligible for option for Higher Pension. 2. If I am higher, what happens to the amount for accumulated PF balance which needs to be taken into account for EPFO? DO I need to pay from pocket or would it be taken from the current PF balance? 3. Lets say, I have optioned for HPS and I survive for 12 years (58+12 = 70 Years). Would I be able to recover the complete amount I would have given to the HPS or would we need more time there to recover the amount paid itself
I am EPFO member since 1996. I have now opted for higher pension after SC judgment. I will be eligible for higher pension scheme since starting or after 1.9.2014
Your service from 1996 will be taken into account for computing Pensionable Service. You also need to pay arrears from 1996 onwards with accrued interest to EPFO to get higher pension
Please discuss those employees who are working in private company and basic salary is 20000 in the year 2013 and now 37000. 1L basic is for Govt employees and always govt employees got high benefits from Govt.
पहले सरकारी नौकरियों में सरकार अपने कलेक्शन के बदले पेंशन देती थी। नौकरी करने वाले जो पैसा जमा करते थे, ब्याज सहित वही जी पी एफ के रूप में मिल जाता था। लेकिन पेंशन रिटायर मेन्ट के समय बेसिक का आधी प्स डीए पूरा जुड़ता था, डी ए समय समय पर बढ़ता भी था। और हमें 2.51 % केवल अतिरिक्त देना पड़ा।
Thank you Sir. Can you please help me to clarify this - I am not able to get a clear answer anywhere so not able to apply for higher pension 1 - if a employee, member of EPFO, joined company A on 2011 opts for higher pension before June 26th (and gets approved at every level) and later (after 1st Sep 2014, lets say in 2025) he switches to company B. In this case, will he be still eligible for higher pension scheme in company B ? 2 - Same as scenario 1 but he had a gap of few years in between (After leaving company A and before joining company B). In this case, will he be still eligible for higher pension scheme after joining company B ?
No one is 100℅ clear. Until and unless EPFO releases any official statement regarding contribution and pension. I wonder why EPFO is not coming with an official statement.
------ VERY IMPORTANT ------ ******************************************************************************** If you have previously purchased the Excel calculator, make these changes - In Column H - Change Formula to =CEILING(8.33%*D9,10)+CEILING(1.16%*(D9-15000),10) In Column I - Change Formula to =(12%*D9)-H9 Copy these formulas to all the other cells of the same column. ********************************************************************************
First mistake you did is that you have assumed 3% increament in Salary...which is wrong as even a Govt or PSU servant gets 3% Annual Increament + more than 5% DA increament...also Pay revision is not considered where Basic gets combined with DA along with some percent hike...so now the DA will be applicable on new double Basic....In short the recovery period is not 25 years but actually 8 years and after that you can double that amount in next 5 years
Last time I took 10% hike, many people came and said, it was wrong. Now I take 3%, again people say its wrong. There is NO one rule fit all approach. To each its own. Create an excel which suits your needs is the Answer.
One think I feel as we grow old we don't tend to spend on us but they money will go for our child who maybe 40 yrs that time. Best is not to go for higher pension but remove the money at the age of 60 go for a nice world tour and than save the remaining money for life. Thinking about longevity nobody can answer this question. Even a healthy person can die in a car crash. So worrying about next 25 years after 60 . Let's not spoil the present. I will not opt for higher pension. What if government changes it rules till we turn 60 so those who have more than 15 to 20 years of service like me should not go.
Mujhe itna pata hai ki agar central government khud kah rahi hai ki higher pension se unko loss hoga aur public ko fayda. Tabhi to government apne se isko lagi nahi kar rahi hai supreme court ise lagu karwa raha hai. Goverment to chahti hai koi obtain mat kare. Benefit. 1. Kabhi kisi ki naukri jaldi khtam ho jati hai usko pension 52 year se mil jayega wo bhi us samay ke avg. Salary ke 2. Agar koi aaj job karte karte mar gaya to aaj ke avg salary ka pension miega Baki paisa to hai na pf me usko jama karke byaj kha lena. 😂😂😂 3.Pension social Security hai. Budape ke liye agar sab paisa dub jaye share market me ya bacche barbaad kar de to ye paisa security dega tumko aur biwi ko
hi ...the formula given in comment section does not compatible as column names are not matching as explain below in XLS version i have ... ******************************************************************************** If you have previously purchased the Excel calculator, make these changes - In Column H - Change Formula to =CEILING(8.33%*D9,10)+CEILING(1.16%*(D9-15000),10) In Column I - Change Formula to =(12%*D9)-H9 Copy these formulas to all the other cells of the same column. ********************************************************************************
उत्कृष्ट विश्लेषण के साथ जानकारी साझा करने के लिए, सह्रदय धन्यवाद l ❤
What an amazing explanation especially the last few minutes where your summarized the overall calculation and compared it with Systematic Withdrawal Plan.
The real catch actually is on the tax on the monthly pension. Looking at history of tax slabs in India we cannot hope much from Indian governement.
Sir, I have retired on Msy 21, 2021 and my early perdition has already started from that date. Now,if I want to opt fir higher pension what do I need to do? And also, if my higher pension is approved and I pay the differential amount. shall I get arrears for the earlier period?
As per EPFO notification on 3rd May (S.O. 2061 (E) the following is written under point (ii): “the increased contribution shall be applicable to basic wages, dearness allowance and retaining allowance to the extent such basic wages, dearness allowance and retaining allowance exceed fifteen thousand rupees per month”. This means that 1.16 will not be on total wages but only the part of wages which is excess of 15,000/-. Similar explanation is also present in EPFO help file for approving higher pension application at employer portal. In the help file it is written clearly that 1.16% should be calculated only on wages that exceed 15,000/- For e.g. If total wages is 20,000/- that 1.16% should be calculated on 5,000 only and not on 20,000/- from 1st Sept 2014. According we have already approved 2 applications of higher pension from our employer portal by uploading wages text file successfully i.e., no error was detected and current status of Higher Pension application is “Approved by all Employer with wage file”. Just want to add that while making the wage text file, we calculated 1.16% from 1at Sept 2014 onward on wages exceeding 15,000/-. Regarding pension due amount along with interest, we have just reflected the pension due without interest as there is complexity in the calculation of interest. Logically EPFO will rely on wage detail uploaded by the employer and they can easily calculate the interest due using software. EPFO should not ask the employer to upload wage text file but they want to make the process difficult so that number of applications for higher pension gets reduced.
Thanks for sharing your experience with the audience. Yes, it should be calculated on the increased amount after 1st Sep 2014 only.
Can you share your contact detail on feedback@everypaisamatters.com as I would like some inputs around the employer portal. A lot of people have asked the questions and your knowledge on this subject will surely help many.
Sir ji retirement k bad higher pension withdrawal kar sakte he ?
You considered the very edge case of a person who has a starting basic salary of Rs. 50000 in the year of 2014 with 35 years of working from there. That time and even now most people used to start their career with like 15k total salary and it changes abruptly
Hi
How can I enter details of missing service details, my first employer was maintaining PT Trust and deducted amount for EPS as well. However EPF trust site does not mention the service period of my employment with this organisation. When I enter PF trust details under members ID EPF site is not accepting details
Is there any chance of change in formula for calculation of pension in epf? ...like instead of keeping 5 yrs of basic +DA , epfo can keep whole service basic + DA in pension formula?
Sir I have subscribed your channel
Sir please ek information bta dijiye....mene epf ki amount withdrawl ki hui hai past me toh higher pension me aane pr mujhe wo nikali hui amount jma krni pdegi...plz reply?
Mera joining date 2004 hey aur mera besic salary 2021 may Rs 15000 cross kiya abhi Rs 20000 se jada hey mera calculation keyse hoga? Kuch bata sakte hey please.
Mere father 2017 mai retier hue unki last salry 40000.. job 34 years ki..unki kitni pension lagegi aur kitna paisa pehle daina padega.. abhi 2940 pension mil rhi hai.
When you have to pay back the Corpus amount , you will have to get arrears of the higher pension from the date of your attaining 58 years
M not able to download the shown excel..some other format is visible.pls help for direct link of the file
Extra contribution kaun see date se dena hoga. Calculation higher pension formula kaise hoga.
All of this clarification goes to those employees who are still in service wef 1st Sep'14. What about those persons who have already retired by 2013! Pl tell us what amount will be if pension is revised. Thanks.
Thanks for the detailed information. I joined EPS in November 1995. Employer contribution was 12% of EPFO ceiling of 5000 till 2001 and 6500 thereafter. My basic salary was higher than this limit. I changed my job in 2008, after which current employer is contributing 12% of basic to date. I am due to retire next year and am considering to opt for higher pension. Will my pensionable service of 1995 to 2008, wherein employer contribution was on EPFO ceiling, be considered for calculating higher pension. Or will it be only from current employer from 2008? I withdrew the PF corpus when i changed job in 2008, but obtained a Scheme certificate for continuity of pension.
I had joined the EPF in the year 2005, and Till date Rs 1850 (1250+550) had been added to my epf account Which accumulates to 6 Lacs over past 18 years. My current salary is more than 60000 p.m but my employer still imposed a capping of 15000. If I opt for higher pension will my existing corpus remains intact. And will my employer be bound to remove capping of 15000 ?
Good Video....I have a question...What will happen if you stop working at the age of 50....how is pension calculated?...
Sirji, ye calculator muje chahia, kaha se download kare
Sir i have jioned epf in 1989
Is no. Of year pf service will be calculated from 1989 ?
Or 1995
Regarding higher pension
Super analysis
Rs.131,85,262/- will generate Rs.82,400/- per month at the interest rate of 7.50% (Prevailing rate is upto 9% in different banks). Whereas, the pension will be Rs. 85,253/-. Therefore, I feel that in the given case, it is a total loss for the member to opt for higher pension. Moreover, the Principal amount of Rs. 131,85,262/- will be with EPFO if you opt for pension whereas, if you don't opt, it will be with the member and he can use it the way he wants to acquire the assets or investments. Thus, It will be a foolish decision to opt for higher pension in the given case.
You are right but not sure if this calculation is correct. Let us wait to get more clarification.
What if all money deposited in Bank is taken by people like Malya or Neerav Modi... You'll only get 5 lakhs... Is it worth putting crore rupees in Indian banks?
@@Ravishns for interest rate of EPF is not straight forward 72000*8/100=5760, there is a separate calculation sheet given, check in UAN passbook page, there is link "how interest rate calculated", it won't be 5760, it will be less than that, as it is calculated based monthly basis
@@AmrinderSingh729 Never keep all your savings in one basket. Invest money in real estate ( earn rent), invest some money in small savings schemes, invest in treasury bills, government bonds, mutual funds, gold ETFs, physical gold & finally in bank FD. I will guarentee you that you will not only beat inflation but also multiply your wealth. If you are someone who is a conservative investor then only go with higher pension. BTW this is not an investment advice but just an opinion. In my opinion NPS is a better option for pension than EPS. EPS doesn't earn any interest unlike NPS & you cannot manage your investment portfolio hence the pension from EPS will be always lower.
@@upamaniah interest will be more if calaculated on monthly basis.
On member portal excel format calculator is already given. Simply employee needs to put their wages monthly basis from Nov 95 till march 23. (interest + 8.33% + 1.16%) get calculated automatically Summary gives amount to be transferred or adjusted
Epf pension two thousand milte hai to mai epf ka farm bhar sakti hu ka ple bato
How much amount will be deposited at a time in higher pension?
I purchased your excel but later you made some changes what are the changes that I need to do in the already purchased excel
Its mentioned in the comment or else you can also email me with your previous order detail and get the revised copy free.
@@EveryPaisaMatters What is your email ID and where will I find the order detail.
First of all thanks for the vedio. I retired in 2021 after completing 37 years service. My last 5 years avg salary per month was 2.5 lakhs. What is the higher pension i am eligible for and how much money i will have to remit? Please clarify
✅ If you liked this video, consider Subscribing my Channel - bit.ly/EPMsub
🗒Link of Excel -everypaisamatters.com/eps-switch-high-pension-or-not/
How to get the excel sheet
@@junaraychaudhury516 Link is in the above comment.
Sir what is retaining allowance??
Ap karoro mai chal pde kya pvt.compay mai itni selri hoti
Pl 30000 ya 40000 selry tak hi calculation btao😊
Aap shayad inflation ko nahi samajhte.
Kuch 15-20 saal pehle laakhon rupaye kaafi jyada hote they. Aaj laakhon kuch nahi hote
Payment made but link for eps excell calculation not received
Hi Narendra Ji. You would received an email with the link of the excel (please scheck SPAM folder). have also emailed you the same as well.
Amitji, Excel file downloaded and calculation done. A doubt where need clarification. Calculation starting year is 2014, whereas i started in career in 1997 and retiring in Dec 2031. How to take care this complexity?
Where is excel sheet for which I can download
Higher pension ke liye Jo share epfo ko return karna hai, vo sirf employer share se hi hoga return ya usme employee share se bhi epfo amount nikal lega??? Employee waala contribution safe hai ya usse bhi risk aayega higher pension choose Karne pe. Kindly reply
Salary increase taken is very low up to 3-4% which is making the recovery too long and unattractive but same will completely change if we take 8-10% hike in salary…one should calculate his own case for real outcome as long as pension formula doesn’t change…
Last time I created video (still there) with 10% hike and people commented that 10% is very high.
This time I created with 3% and comment is its too low.
Karein to karein kya? Which is why I said, this is example and everyone needs to make their own assumptions.
Yes, I had seen that video and result was extremely attractive.
While filling form for joint option (higher pention) getting this error "no details found against uan: ------ ".
Can anyone tell the reason why it is happening?
Note: my father has two UAN number.
May be he is not eligible...or Date of joining is after 2014
1.16% Dena hai 01.09.2014 se. (Actual Basic - 15000) par. Pure service period par nahi Dena hai.....
Yahi to kaha hai maine. Kuch galat keh diya kya?
Sir chalaki epfo due to 1.16 percent additional contribution from employer contribution 12 percent side no difference paid employ or employer contribution.effect loss of final pf settlement for employ low pf ammount.
it is all about life expectancy post retirement age, (58), how many months a EPF member may live healthily to receive the higher pension, and does his spouse also working similar with earning potential, what is the expectation on corpus fund, post retirement like children education, house, marriage or any other, also please note, post 58 years if one still working till 60 years, he will get two bonus years for the calculation of pension, also please note EPS is pooled fund, the amount you accumulate does not come back, and does not earn any interest, it will come back in the form of PENSION with a last 60 month average basic salary calculation*total no of service/70
Reason for low principal and interest is also same due to low increase in salary than pf interest.
नमस्ते सर
मैं 2016 मे रिटायर हुआ हू. लेकिन मू
EPFP पैसा देना पडेगा
Sir, I got my retirement on Jan,2006,I had been contributing@12percent from monthly salary beyond15000/nd eps rate was 8'33@,on ceiling amount of Rs15000/,kindly clarify whether I am entitled for higher pention or not, if yes how much arrear has to be paid nd is it profitable at this age
Sir, A person opted for higher pension but due to some reasons he resigned from job after completing 20 years service. Can he got pension or not?
बेहतरीन ❤
Sir, i wanted to ask you that my father has opted for joint option he has retired in 2021 and his service is 35 years and he hasn't yet withdrawn his PF amount. Now he wants to withdraw full PF amount so At this time, will epfo give his Pf amount fully within 10 days? As earlier in joint option form he has written full amount as balance in his pf account. But now he wants to withdraw it and want to refill the joint option form with zero balance in pf account and put yes to undertaking that he will deposit money whenever demanded. So, please tell me that Should we opt for claiming our full PF money now ..and then wait for 10 days to get the full amount and then again fill teh joint option form? Do we get the PF full amount in 10 days or it will take long time? As we can only fill joint option till 26 June
Same case
1.16 pc lagne ke baad maine apna application delete kar diya. Mujhe to bhai apna PF ka paisa seedhe seedhe chahiye.
Hello There, Thanks a lot for the Video and explaining in good detail.
I have been employed in India since 2005 but in 2014, I moved out of India (withdrawing the PF balance) and returned back to India by end of 2017.
As the Higher Pension scheme is expected to take ~40% of accumulated PF(Employer share). In my case, there is no accumulated PF. Here are the questions I have:
1. As I have rejoined a job in India in 2017, am I actually eligible for option for Higher Pension.
2. If I am higher, what happens to the amount for accumulated PF balance which needs to be taken into account for EPFO? DO I need to pay from pocket or would it be taken from the current PF balance?
3. Lets say, I have optioned for HPS and I survive for 12 years (58+12 = 70 Years). Would I be able to recover the complete amount I would have given to the HPS or would we need more time there to recover the amount paid itself
Now you are right.
Thank you. I must thank you and couple of others who provided valuable inputs in correcting this. 🙏
How to fill widow higher pension online please send video
can you give a calculator of pension
I am EPFO member since 1996. I have now opted for higher pension after SC judgment. I will be eligible for higher pension scheme since starting or after 1.9.2014
Your service from 1996 will be taken into account for computing Pensionable Service. You also need to pay arrears from 1996 onwards with accrued interest to EPFO to get higher pension
Please discuss those employees who are working in private company and basic salary is 20000 in the year 2013 and now 37000.
1L basic is for Govt employees and always govt employees got high benefits from Govt.
Dear Sir,
Kindly share excel sheet
पहले सरकारी नौकरियों में सरकार अपने कलेक्शन के बदले पेंशन देती थी। नौकरी करने वाले जो पैसा जमा करते थे, ब्याज सहित वही जी पी एफ के रूप में मिल जाता था। लेकिन पेंशन रिटायर मेन्ट के समय बेसिक का आधी प्स डीए पूरा जुड़ता था, डी ए समय समय पर बढ़ता भी था।
और हमें 2.51 % केवल अतिरिक्त देना पड़ा।
want to download excel sheet, please provide direct link
Please clear about spouse and children
How to download Higher pension Excel sheet
Please visit my site everypaisamatters.com and go to the comments section
Which date se start sir
1 Sep 2014
I have applied for heigher pension ,can i reject the application
Sir I am totally confused whether to opt for a higher pension or not! So Sir can u guide me or solve my query?
@@Girish1399 i have 5yrs left for superannuation. Should I opt for higher pension?
You implement without delay the eps95 pension issue.Make simple calculation.
For higher pensioner employees, would his/her nominee will get his eps amount of 1.31 cr after death of pensioner?
Thank you Sir. Can you please help me to clarify this - I am not able to get a clear answer anywhere so not able to apply for higher pension
1 - if a employee, member of EPFO, joined company A on 2011 opts for higher pension before June 26th (and gets approved at every level) and later (after 1st Sep 2014, lets say in 2025) he switches to company B.
In this case, will he be still eligible for higher pension scheme in company B ?
2 - Same as scenario 1 but he had a gap of few years in between (After leaving company A and before joining company B). In this case, will he be still eligible for higher pension scheme after joining company B ?
No one is 100℅ clear. Until and unless EPFO releases any official statement regarding contribution and pension.
I wonder why EPFO is not coming with an official statement.
Sir fayda kismat.h.
1983-TO 2008
What is HIGHER.PENSION.
------ VERY IMPORTANT ------
********************************************************************************
If you have previously purchased the Excel calculator, make these changes -
In Column H - Change Formula to
=CEILING(8.33%*D9,10)+CEILING(1.16%*(D9-15000),10)
In Column I - Change Formula to
=(12%*D9)-H9
Copy these formulas to all the other cells of the same column.
********************************************************************************
Meri service 40 saal ho rahi hai to pension ki grahana kaise hogi (1996-2036)
There will be no interest in bank after 20 years. After 20 years the deposit of money in bank will be chargeable.
जिसके अभी 15000 नही है वो भी इसके लिए अभी अप्लाई कर ले उसमे बाद ने फायदा होगा
First mistake you did is that you have assumed 3% increament in Salary...which is wrong as even a Govt or PSU servant gets 3% Annual Increament + more than 5% DA increament...also Pay revision is not considered where Basic gets combined with DA along with some percent hike...so now the DA will be applicable on new double Basic....In short the recovery period is not 25 years but actually 8 years and after that you can double that amount in next 5 years
Last time I took 10% hike, many people came and said, it was wrong.
Now I take 3%, again people say its wrong.
There is NO one rule fit all approach. To each its own.
Create an excel which suits your needs is the Answer.
One think I feel as we grow old we don't tend to spend on us but they money will go for our child who maybe 40 yrs that time. Best is not to go for higher pension but remove the money at the age of 60 go for a nice world tour and than save the remaining money for life. Thinking about longevity nobody can answer this question. Even a healthy person can die in a car crash. So worrying about next 25 years after 60 . Let's not spoil the present. I will not opt for higher pension. What if government changes it rules till we turn 60 so those who have more than 15 to 20 years of service like me should not go.
Iwant BOLD ALFABATE.
7500+DA milna chahiya
If anyone wants to fill joint option form...I will fill their form ...
Mujhe itna pata hai ki agar central government khud kah rahi hai ki higher pension se unko loss hoga aur public ko fayda. Tabhi to government apne se isko lagi nahi kar rahi hai supreme court ise lagu karwa raha hai. Goverment to chahti hai koi obtain mat kare.
Benefit.
1. Kabhi kisi ki naukri jaldi khtam ho jati hai usko pension 52 year se mil jayega wo bhi us samay ke avg. Salary ke
2. Agar koi aaj job karte karte mar gaya to aaj ke avg salary ka pension miega
Baki paisa to hai na pf me usko jama karke byaj kha lena. 😂😂😂
3.Pension social Security hai. Budape ke liye agar sab paisa dub jaye share market me ya bacche barbaad kar de to ye paisa security dega tumko aur biwi ko
One करोड रूपए कहां से लाओगे
Not clerarBold ALFABATE.
Eps bekaar h
Answer me
In future interest will be 2% only.because india will developed country.
Then commodity rates also will be low. Inflation will also will be low.
hi ...the formula given in comment section does not compatible as column names are not matching as explain below in XLS version i have ...
********************************************************************************
If you have previously purchased the Excel calculator, make these changes -
In Column H - Change Formula to
=CEILING(8.33%*D9,10)+CEILING(1.16%*(D9-15000),10)
In Column I - Change Formula to
=(12%*D9)-H9
Copy these formulas to all the other cells of the same column.
********************************************************************************
Kindly email the excel that you have at contact_epm@icloud.com I will check and revert
MY LAP TOP IS NOT WORKING.PROBLM.