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Anil

Anil Rego  |377 Answers  |Ask -

Financial Planner - Answered on Feb 23, 2023

Anil Rego is the founder of Right Horizons, a financial and wealth management firm. He has 20 years of experience in the field of personal finance.
He’s an expert in income tax and wealth management.
He has completed his CFA/MBA from the ICFAI Business School.... more
Yogeshwar Question by Yogeshwar on Feb 08, 2023Hindi
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Sir As present I am PSU employee and eligible for EPS-95 PENSION.At present supreme court directed to company for the extra pension and told to employee to opt for higher pension option . What will be your suggestion shall I got for corpus or pension as I feel how.much pension will be given also not clear by the EPFO.

Ans: You should go ahead based on your need for monthly income. Typically, the EPFO interest rates are higher than the normal rates of interest.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Sanjeev

Sanjeev Govila  | Answer  |Ask -

Financial Planner - Answered on Jul 27, 2023

Asked by Anonymous - Jul 26, 2023Hindi
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Do you mean that any employee who was receiving rupees 15000 salary is eligible for EPS 95 Higher pension?make it clear.
Ans: Yes, an employee in India who was receiving a salary of Rs. 15,000 is eligible for EPS 95 Higher Pension, provided they meet the following criteria:
• They must have been a member of the EPS 95 scheme before September 1, 2014.
• They must have filed a joint option form with their employer to contribute 8.33% of their salary to the EPS, even if their salary is above Rs. 15,000.
• They must have completed at least 10 years of service in the EPF scheme.
If an employee meets all of these criteria, they will be eligible to receive a higher pension amount, which is calculated based on their average salary for the last 10 years of service. The higher pension amount is also subject to a minimum pension of Rs. 1,000 per month.
It is important to note that the deadline to file a joint option form for EPS 95 Higher Pension was February 28, 2015. Therefore, employees who were members of the EPS 95 scheme before September 1, 2014, but did not file a joint option form by February 28, 2015, were not eligible for the higher pension amount as per earlier guidelines. However, the Employees' Provident Fund Organisation (EPFO) has recently allowed EPF contributors to get a higher pension by following some guidelines even now much after 2015.
The Supreme Court of India ruled in November 2022 that the EPFO's decision to cap the EPS contribution at Rs. 15,000 was illegal. The court ordered the EPFO to allow employees who were members of the EPS 95 scheme before September 1, 2014, to opt for a higher pension by filing a joint option form with their employer.
The EPFO issued a circular clarifying the guidelines for employees who want to opt for a higher pension. The following are the eligibility criteria:
• The employee must have been a member of the EPS 95 scheme before September 1, 2014.
• The employee must have not filed a joint option form to contribute 8.33% of their salary to the EPS even if their salary is above Rs. 15,000.
• The employee must have completed at least 10 years of service in the EPF scheme.
The employee must also submit the following documents to the EPFO:
• A copy of the joint option form that was not filed earlier.
• A proof of salary for the last 60 months.
• A declaration from the employer that the employee was a member of the EPS 95 scheme before September 1, 2014.
The EPFO has then processed the application and decided whether the employee is eligible for a higher pension. If the employee is eligible, the EPFO will start paying the higher pension amount from the date of application.
The deadline to apply for a higher pension was March 3, 2023. Employees who miss the deadline will not be eligible for a higher pension.

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Anu

Anu Krishna  |1281 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Nov 07, 2024

Asked by Anonymous - Oct 07, 2024
Anu

Anu Krishna  |1281 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Nov 07, 2024

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Help me!!! 1.I'm starting new "work" on my own(challenging for me) but my mind says quit it, be quite & do nothing. I myself don't know that wether the result of work will be +ive or uncompleted like alws. 2. My mind has become like order seeker type, when someone orders me, I do those things with dedicated(but sad from inside) manner. But when myself will try something different(which i fear, but necessary) then. "I QUITS IT" & sometimes I don't even start. 3. I'm like stuck no clue what/whom I want to do in life, I'm in cllg(1 yr) doing (CSE) ,. 4. I want to do/try (sports,talking girls,study,stocks,coding..) many things, but myself, my thoughts(overthinker), R like just be in the place where u are[confused,po*n,think about past/future(being billio..re,olympics..), girl (that u liked & never talked), abusive/beating self,.. sometimes feels like end life, but don't hv courage for that also.. 5. I tried self help books, spirituality, god, self affirmation, writing... & thay affected me(sometimes) but for only some time, then again that devil me comes up &these things never get completed. As no one in my family knows about all these, so that's Y ,I hv to fight/loose/try again, the battles with myself.
Ans: Dear Harsh,
If in the past you have had the urge to QUIT, how is this time going to be different? This is not to discourage you from taking up 'new work' but pointing out that there is some amount of work that you need to put to clear the mind out of blockages.
-What is limiting you?
- What is the reason for putting off things?
- What comes first to the mind when you start something new?
Also, focus on one thing at a time; study and go deep into it...what's this thing with work? I don't understand. When the mind is unsettled, take one thing/activity, pursue it and finish it. It could simply be studying for Year 1 of your college...just only do that...once your mind is trained in completing an activity, you can add another one the next year along with studying and then pursue both...it could be some sport and studying...then the next year, you could add a third activity. This is called 'training the mind in discipline'. Discipline will make sure that you start and finish things...So, go slow and do one thing at a time.

All the best!
Anu Krishna
Mind Coach|NLP Trainer|Author
Drop in: www.unfear.io
Reach me: Facebook: anukrish07/ AND LinkedIn: anukrishna-joyofserving/

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