My current basic salary is INR 100000 since past one year. Supposing I have completed minimum eligibility service 10 years (and contributed for 10 years to EPF/EPS) what will be my Min pension after the age of 58 years (supposing No more contribution)
My another question is– I served in Indian Air force for 10 Years 94-2004
I am not getting pension for that as the min eligible service is 15 yrs
Can this 10 years Defence service be counted/added to my 10 years of Private service (2006-till date)
It is hard to say. Because EPS contribution not depends on your full salary and also we can’t say how much there will be an increase on yearly basis towards EPS.
My Basic salary is 100000 and accordingly employee as well as employer components are 12000 each
My main question is to understand that whether the same formulae will apply— 12 Month Avg Basic x No of Years divided by 70
is there any cap of Basic salary like 15600 for the purpose of this formulae or my actual basic which is the basis of contribution will be considered