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EPF Pension Much Lower Than Subordinate's - What Can I Do?

Milind Vadjikar | Answer |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Dec 09, 2024

Milind Vadjikar is an independent MF distributor registered with Association of Mutual Funds in India (AMFI) and a retirement financial planning advisor registered with Pension Fund Regulatory and Development Authority (PFRDA).
He has a mechanical engineering degree from Government Engineering College, Sambhajinagar, and an MBA in international business from the Symbiosis Institute of Business Management, Pune.
With over 16 years of experience in stock investments, and over six year experience in investment guidance and support, he believes that balanced asset allocation and goal-focused disciplined investing is the key to achieving investor goals.... more

Question by Bappaditya on Dec 02, 2024Hindi

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I retired as Senior Manager after serving my employer since 1981 to 2011. My last basic salary was Rs. 18500. I am receiving an EPF pension of Rs. 1870 only. I came to know from my retired subordinate, whose basic salary was much less than mine, that he is receiving around Rs. 2750 as EPF pension. Kindly advise whether my pension should be more than Rs. 1870 & if so how I can get redressal for the same.

Ans: Hello;

EPS came into effect from 1995.

Obviously your junior would have had more EPS contribution then you.

EPFO has an objective method of calculating pension eligibility and amount.

Be rest assured about this aspect.

Best wishes;

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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Question by Sanjeev - Sep 02, 2024Hindi

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Sir, i have opted for epf pension from 60 yr of age, my pension is 4175 only and due extra period i am getting only 333 extra, although my normal pension for two yris approx 100000 it seems i am getting only 4 % simple interest, So please inform me whether i can change my pension or not

Ans: No, once you opt for the EPF pension, you cannot change or increase the pension amount. The pension calculation is based on the service years and average salary during the last 60 months of service. The interest is not applicable in the same way as on EPF contributions. The amount you receive is fixed and determined by the EPFO guidelines.

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Milind Vadjikar | Answer |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Dec 02, 2024

Question by P - Nov 23, 2024Hindi

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(My wife age is 54 years and working in a private school since more than 20 years. she is contributing to EPF from the joining. Upto MARCH 2015an amount of RS 780/- is deducted from her salary (i.e.12% of 6500 wages) & 780 by employer. From APRIL2015 an amount of RS 1800/- is deducted (i.e. 12% of 15,000 wages) & 1800 by employer. Is she eligible to get higher pension of 15,000 or not? if not how much pension she will get by 2028. By 2028 total employee contribution is 5.2 lakhs & 5.2 lakhs by employer. Total service by 2028 will be 25 years.

Ans: Hello;

Formula for monthly pension under EPS is:

Monthly pension=(pensionable salary X pensionable service)/70

The pensionable salary is the average monthly salary of the last 60 months.

Pensionable service is in number of years while being EPFO member.

Also EPF and EPS are two separate schemes.

EPF you get as lumpsum on retirement while EPS is the pension scheme.

12% of employee contribution and 3.67% of employer contribution goes towards EPF

While only 8.33% of employer contribution goes towards EPS.

As per above formula, your spouse may expect a monthly pension of around Rs. 5350/- after completion of 25 year service.

Best wishes;

Milind Vadjikar | Answer |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on May 15, 2025

Question by ahmed - May 14, 2025

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Helo sir, I am 60 years old and have been working in a private institution in hyderabad for 9.7 years. Im.also contributing to my epf account since then. I retired on superannuation @ 58 in August 2023 when i had completed just 7.5 years of service. As im 60 now and completed 9.7 years of service this month, am i eligible for monthly pension? I submitted firm10D online few days ago, but it has been rejected by EPFO stating that im not eligble for monthly pension and i was asked to submit form 10C. Kindly advise.

Ans: Hello;

Eligibility for EPS pension is atleast 10 years of continuous service with continuous contribution towards EPF &EPS during this period.

There is not even one day leniency allowed for this rule so sorry to say but you are not eligible for EPS pension.

Best wishes;

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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