What is Pension?Sponsored Links
Pension is an amount or sum which is added to the Employee account during his/her job tenure by the Government. Pension is the fund which is added by the Government to the employees account to support their life after the retirement. The Government supports the employees after their retirement with a fixed sum monthly depending on the employee’s basic salary. The pension of a Government Employee may be availed by him/her monthly after their retirement or it may be availed by the dependants like wife, husband, children etc after the death of the employee. To avail the pension there is basic eligibility period i.e. 10 years. The employees who have a minimum of 10 years service them and their family members are eligible to avail the Pension.
How to Use a Pension Calculator online in a Simple way?Sponsored Links
Here we are giving some simple tips to use the Pension Calculator in a simple and easy way. To use the Pension Calculator first you have to know the last month Emolument, Employees service period.
Simple Procedure for Using a Pension Calculator Online:
- Enter the last month credited pension amount in the Last Month’s Emolument Field.
- Enter the term your or Employees service period in the Service Period Field.
- Then click the Calculate button to know the next month’s Pension amount.
- If you wanted to go for another transaction then click the Reset Button and repeat the above 3 steps.
How to Calculate Pension Manually?
Before the existence of the Pension calculator, there is a formula by using that formula people used to calculate. By using this below mentioned formula anyone can calculate the pension on their own by using a pen & paper.
Formula used to Calculate Pension Manually:
Basic Pension X 2.57
Basic Pension (VI CPC) X 2.57
Simple Procedure for Calculating the Mortgage Manually:
- Multiply the Basic Pension of the employee with 2.57 you will get the pension.