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EPS Calculator

Calculate your estimated EPS pension based on your pensionable salary and service period

EPS Pension Calculator

Pension Eligibility Eligible (Min 10 Yrs Service)
Bonus Service Years Added (If > 20 Yrs) 0 Years
Estimated Monthly EPS Pension ₹0

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WhatWhat is an EPS Pension Calculator?

An EPS Pension Calculator is an online tool that helps eligible EPFO members estimate their monthly pension under the Employees' Pension Scheme (EPS), 1995. It uses factors such as pensionable salary and pensionable service to provide an estimated pension amount, helping employees understand their potential retirement benefit.

How to Calculate EPS Pension?

EPS pension is generally calculated using the pensionable salary and pensionable service. Under the standard EPS formula, the pensionable salary is multiplied by the pensionable service and divided by 70.

EPS Pension = (Pensionable Salary × Pensionable Service) ÷ 70

For example, if the pensionable salary is ₹15,000 and the pensionable service is 20 years, the estimated monthly pension would be ₹4,285.71.

An EPS Pension Calculator simplifies this calculation by using the relevant salary and service details to provide an estimated monthly pension amount.

Benefits

of using Savvy HRMS's
EPS Pension

Estimate Your Monthly Pension

Understand Your Pension Benefit

Plan for Retirement

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Key Factors Considered by the Savvy HRMS
EPS Pension Calculator

  • Pensionable Salary: The salary considered for calculating the EPS pension, subject to the applicable EPS rules and limits.
  • Pensionable Service: The number of eligible years of service considered for determining the pension.
  • EPS Formula: The pension is generally calculated by multiplying pensionable salary by pensionable service and dividing the result by 70.
  • Retirement Age: The age at which an eligible member begins receiving pension can affect pension-related calculations and eligibility.
  • Eligible Service Period: The service period must meet the applicable EPS requirements for pension eligibility.
  • Early or Deferred Pension: The pension amount may differ depending on when an eligible member starts receiving pension under applicable EPS provisions.

Frequently Asked Questions

The standard EPS pension formula is:

Monthly Pension = (Pensionable Salary × Pensionable Service) ÷ 70

The pensionable salary and service considered in the calculation are subject to the applicable EPS rules.

EPS pension is generally calculated using the member's pensionable salary and pensionable service. Under the standard formula, pensionable salary is multiplied by eligible pensionable service and divided by 70. The actual pension payable depends on the applicable EPS provisions and the member's eligibility.

For eligible members who qualify for a higher pension based on actual salary, the pension is generally calculated using the applicable pensionable salary based on the member's eligible higher-salary contribution and pensionable service, divided by 70. The exact calculation is subject to EPFO rules, eligibility, contribution requirements, and applicable orders.

Pensionable salary is the salary considered for determining an employee's EPS pension. Under the standard EPS framework, it is generally based on the prescribed salary ceiling and the applicable average salary period under the scheme. Members eligible for higher pension may be subject to different provisions.

Generally, an eligible member needs at least 10 years of eligible pensionable service to qualify for a monthly EPS pension. The applicable EPS rules determine how pensionable service is calculated and whether a member meets the eligibility requirements.

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We're just a message
away from transforming your

HR Experiance
Savvy HRMS dashboard showing employee management, attendance tracking, payroll features, and mobile app interface

Trusted By 1,000+ Leading Brands

Indiamart image Savvy HRMS client
Nilkamal Savvy HRMS client image
Haldiram Savvy HRMS client image
Kajaria client image in Savvy HRMS
HPL image of Savvy HRMS client
Hero Motors Savvy HRMS Client
Savvy HRMS LOGO Smarter Faster Reliable
Software suggest badges
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