The Maharatna Companies ONGC, Coal India, NTPC, Gail India, IOCL, BPCL, and BHEL has implemented the 3rd PRC report for their staff. There are many Navratna and Miniratna PSUs which also started executing the pay revision order.
Due to an increase in pay, the contribution toward employee provident fund also got enhanced.
Here, I am going to tell you the approximate pension amount on opting higher pension choice under EPS-95.
I have prepared the formula for calculating the EPF Pension amount on retirement from the service. So the employee who taking pay as per 3rd PRC, they can calculate the approximate pension amount by entering the Basic Pay at the time of superannuation.
Note: Applicable to PSU employees drawing a salary as per 3rd PRC Guidelines.
The employees of the following PSUs can calculate the EPS Pension amount by the above formula.
|BEL||HAL||NLC||Engineering Projects (India) Limited|
|CIL||NALCO||Oil India ltd||SJVN ltd|
|PGCIL||NEEPCO||PFC||THDC India ltd|