Question
How is EPS pension calculated and when am I eligible?
Answer
Bottom line: You need 10 years of service to draw an EPS pension from age 58, based on a simple formula.
1. The formula
Monthly pension = pensionable salary × pensionable service ÷ 70.
2. The cap
Pensionable salary is capped at ₹15,000 a month unless you exercised the higher-pension option.
3. Eligibility
A minimum of 10 years of service; early pension from age 50 at a reduced rate.
Estimate your corpus with our EPF Calculator.
This answer is general information based on the law as it stood when written and is not professional advice on your specific situation. Verify the current position and consult a qualified professional before acting. See our disclaimer.