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EPS Pension Calculator

Calculate your Employees' Pension Scheme (EPS) pension amount based on your service period and pensionable salary. Plan your retirement with accurate EPS pension projections.

Monthly Pension for Life
Minimum 10 Years Service Required

EPS Pension Calculation Parameters

Salary Details
₹
₹15,000 per month
Maximum pensionable salary is ₹15,000 as per EPS rules
*Maximum pensionable salary under EPS
Service Details
Yrs
20 Years
Mths
Pension Options
Yrs
Standard retirement age is 58 years
EPS Eligibility Check
Minimum 10 years of service required
Must be EPS member through employer
Pensionable salary capped at ₹15,000

EPS Pension Calculation Formula

Monthly Pension Formula:

Pension = (Pensionable Salary × Service Years) ÷ 70

Minimum Pension: ₹1,000 per month

Maximum Pension: ₹7,500 per month (for 35 years service)

Note: Pensionable salary is capped at ₹15,000 per month.

EPS Pension Calculation Results

Eligible for Pension
₹4,285
Monthly Pension Amount
₹51,420
Annual Pension
20 yrs, 0 mths
Total Service
₹15,000
Pensionable Salary
Superannuation Pension (Retirement at 58)
Pension Type
0 Years
Service Bonus

Pension Limits

₹1,000
Minimum Pension
₹7,500
Maximum Pension

Calculation Breakdown

(15,000 × 20.0) ÷ 70 = ₹4,285

Important Notes

  • Minimum 10 years of service required for pension
  • Pensionable salary capped at ₹15,000 per month
  • 2 years bonus added for service beyond 20 years
  • Pension is payable for lifetime

About Employees' Pension Scheme

EPS Key Features

Eligibility Criteria:

  • Must be member of Employees' Provident Fund (EPF)
  • Minimum 10 years of contributory service required
  • Employer contributes 8.33% of basic salary to EPS
  • Applicable to employees with salary up to ₹15,000

Types of Pension:

  • Superannuation Pension: On attaining 58 years
  • Early Pension: From 50 years with reduced pension
  • Disability Pension: For permanent disability
  • Family Pension: For widow/widower and children
Frequently Asked Questions

Q: What is the current pensionable salary limit?

A: The pensionable salary is capped at ₹15,000 per month under EPS.

Q: Can I get pension with less than 10 years service?

A: No, minimum 10 years of service is mandatory for EPS pension.

Q: What is the service bonus in EPS?

A: 2 years bonus is added to actual service if service is more than 20 years.

Q: Is EPS pension taxable?

A: EPS pension is taxable as income under the head 'Salaries'.

Q: Can I withdraw EPS amount?

A: EPS withdrawal is allowed only if service is less than 10 years. For 10+ years, only pension is payable.

EPS Benefits Overview

Advantages of EPS:

  • Guaranteed monthly pension for lifetime
  • Family pension for dependents
  • No investment risk - Government backed
  • Employer contributes 8.33% of basic salary
  • Indexation and pension revisions

Limitations:

  • Pensionable salary capped at ₹15,000
  • Minimum 10 years service requirement
  • No lump sum withdrawal after 10 years service
  • Pension amount may not keep pace with inflation