Most people working in the private sector are worried about how to arrange for regular income in their old age. But if you are an EPFO ​​member, you can get pension from EPFO ​​from the age of 58. But for this, your contribution in EPS should be at least 10 years. However, the higher the contribution, the better the pension will be. Let us tell you what is the maximum and minimum pension that can be taken from EPFO, how much pension will be received on 20, 25 and 30 years of contribution and how this pension is calculated.

The formula used to calculate how much pension you will get from EPFO ​​after retirement is- EPS= Average Salary x Pensionable Service/ 70. In this formula, average salary means basic salary + DA. Which is calculated on the basis of last 12 months. Pensionable service means how many years you have worked.

The maximum pensionable service in EPFO ​​is 35 years. The maximum pensionable salary is Rs 15,000. From this, the contribution is 15000x8.33= Rs 1250 per month. If we understand EPS pension calculation on the basis of maximum contribution- Suppose your average salary is Rs 15,000 and you have worked for 35 years. In such a situation, EPS= 15000 x35 / 70 = Rs 7,500 per month. In this way, the maximum pension will be Rs 7,500.

If you contribute to EPS for 30 years then EPS= 15000 x30 / 70

If you contribute to EPS for 25 years then EPS= 15000 x25 / 70 = 5,357 rupees pension will be made.

If you contribute to EPS for 20 years then EPS= 15000 x20 / 70 = 4,286 rupees pension will be made.

Let us tell you that the minimum pension received from EPFO ​​is Rs 1,000. In the year 2014, the central government had increased the minimum pension given to EPFO ​​subscribers from Rs 250 to Rs 1,000 per month. However, in view of rising inflation, trade unions and pensioners' associations have been demanding for a long time that the minimum pension should be increased. But till now there has been no increase in it.