Centre

EPFO guidelines to calculate pension on higher wages

EPFO through its circular has issued guidelines to calculate the pension on higher wages.

EPFO has issued guidelines stating that the computation of pension shall be in accordance with the provisions of the Employees Pension Scheme 1995 as follows:

  • Cases found eligible for pension on higher wages where date of commencement of pension is prior to 01.09.2014:- Pension shall be calculated based on average monthly pay drawn during contributory period of service in the span of 12 months preceding the date of exit from the membership of the pension fund.
  • Cases found eligible for pension on higher wages where date of commencement of pension is post 01.09.2014:- Pension shall be calculated based on average monthly pay drawn during contributory period of service in the span of 60 months preceding the date of exit from the membership of pension fund.
Related Acts
  • PF Act

More Notifications

Discuss business needs, find out pricing or get a demo.
We would love to talk.

  • HR & Payroll Administration
  • What is HRMS?
  • What is Payroll?
  • What is Statutory Compliance?
  • Guide to Leave Management
  • Guide to Attendance Management
  • Holiday Lists 2023
  • Holiday Lists 2024
  • Gender Inclusivity Report 2024
  • Product
  • HR Software
  • Payroll Software
  • Leave Management System
  • Attendance Management System
  • Performance Management System
  • Employee Self Service
  • Employee Engagement
  • greytHR Service Status
greytHR-logo
GDPR Compliant certification badge
Soc2 certification badge
ISO Certification Badge
WhatsApp LogoMessage us on WhatsApp
© 2024 Greytip Software Pvt. Ltd.
Privacy PolicyTerms of Use
India
FacebookTwitterLinkedInInstagramYouTube