Keep Visiting For All Type Educational Updates


Join Our Whatsapp Group to Get Latest Updates... : Click Here

Join Our Facebook Page to Get Latest Updates... : Click Here

Join Our Telegram Group to Get Latest Updates... : Click Here

Search This Website

Saturday, 9 October 2021

Download Government Employees Useful Video – Pension Calculate, Pay of Promotion Family Pension, Provisional Pension, Gratuity Rules.

Download Government Employees Useful Video – Pension Calculate, Pay of Promotion Family Pension, Provisional Pension, Gratuity Rules.



Pension

The minimum eligibility period for receipt of pension is 10 years. A Central Government servant retiring in accordance with the Pension Rules is entitled to receive pension on completion of at least 10 years of qualifying service.


In the case of Family Pension the widow is eligible to receive family pension on death of her spouse after completion of one year of continuous service or even before completion of one year if the Government servant had been examined by the appropriate Medical Authority and declared fit for Government service.


W.e.f 1.1.2006, Pension is calculated with reference to emoluments (i.e.last basic pay) or average emoluments (i.e. average of the basic pay drawn during the last 10 months of the service) whichever is more beneficial. The amount of pension is 50% of the emoluments or average emoluments whichever is beneficial.


Minimum pension presently is Rs. 9000 per month. Maximum limit on pension is 50% of the highest pay in the Government of India (presently Rs. 1,25,000) per month. Pension is payable up to and including the date of death.


Commutation of Pension

A Central Government servant has an option to commute a portion of pension, not exceeding 40% of it, into a lump sum payment. No medical examination is required if the option is exercised within one year of retirement. If the option is exercised after expiry of one year, he/she will have to under-go medical examination by the specified competent authority.


Lump sum payable is calculated with reference to the Commutation Table.  The monthly pension will stand reduced by the portion commuted and the commuted portion will be restored on the expiry of 15 years from the date of receipt of the commuted value of pension. Dearness Relief, however, will continue to be calculated on the basis of the original pension (i.e. without reduction of commuted portion).

The formula for arriving for commuted value of Pension (CVP) is

CVP = 40 % (X) Commutation factor* (X)12

* The commutation factor will be with reference to age next birthday on the date on which commutation becomes absolute as per the New Table annexed to the CCS (Commutation of Pension) Rules, 1981.


Death/Retirement Gratuity

Retirement Gratuity

This is payable to the retiring Government servant. A minimum of 5 years' qualifying service and eligibility to receive service gratuity/pension is essential to get this one time lump sum benefit. Retirement gratuity is calculated @ 1/4th of a month’s Basic Pay plus Dearness Allowance drawn on the date of retirement for each completed six monthly period of qualifying service. There is no minimum limit for the amount of gratuity. The retirement gratuity payable for qualifying service of 33 years or more is 16½ times the Basic Pay plus DA, subject to a maximum of Rs. 20 lakhs.



To Get Fast Updates Join our Group : Whatsapp | Facebook | Telegram


To Get Fast Updates Download our Apps:Android|iOS|Telegram

Join Our Newsletter

Get All The Latest Updates Delivered Straight Into Your Inbox For Free!

Categories

10TH (165) 12th Pass (172) 7TH PAY (3) Aanganwadi (1) ADMISSION (11) AGRI JOBS (50) AIR FORCE (14) All India Requirement (140) Amul (1) ANSWER KEY (52) Any Graduate (338) APPLICATION (2) Apprentice (4) ARMY (26) AROGHYA (1) ASSAM RIFLES (1) Bank Jobs (167) BHEL (3) BSF (4) BSNL (3) CA / ICWA (95) CALL LETTER (91) CCC (2) Coronavirus – COVID19 (88) COV (1) CRPF (2) DAIRY JOBS (14) DGVCL JOBS (6) Doctor (108) E BOOK (1) E-NEWS PAPER (1) Education (18) ELECTION 2019 (1) EMPLOYMENT NEWS (1) EMRI (1) Engineering Jobs (565) EXAM PAPER (6) Forest (11) GATE (1) GENERAL (11) GERC (1) GNFC (3) Govt-Scheme (22) Gpsc (63) GPSSB (20) Graduate (169) GSCSCL (2) GSEB (14) GSECL (3) GSRTC (35) GSSSB (58) GTU (5) Gujarat Tourism (2) GUJCET (4) GWSSB (6) High Court Of Gujarat (39) IIM (1) IIT (1) INDIAN COAST GUARD (5) INDIAN POST (11) INFORMATION (87) IOCL Jobs (16) IPL (2) IT Jobs (142) ITBP (1) ITI (158) KELAVNIDHAM (1) LIC (9) LLB Job (70) MAHITI (47) MASTER DEGREE (20) MBA (100) MGVCL JOBS (10) Mobile Application (3) Municipal Corporation (52) NAGARPALIKA (1) NAVODAYA (3) NAVY (18) NEWS (460) OJAS (4) OLD PAPERS (5) ONGC (14) ONLINE-SERVICE (10) PARIPATRA (31) PGVCL Jobs (4) Pharmacy (18) PHD (13) POLICE (43) Post Graduate (67) Railway Jobs (62) RELIANCE (1) RESULT (127) ROZGAAR SAMACHAR (10) RPF (8) RTE EDUCATION (3) SCHOLARSHIP (1) SEB (5) SPIPA (3) STAFF SELECTION COMMISSION (18) std 1 to 12 Education (4) STUDY MATERIAL (20) SYLLABUS (14) TAT / HTAT (2) TATA (1) TEACHERS JOB (29) TECHNOLOGY (1) TET / HTAT (12) UGVCL (10) Upsc (23) Veterinary (4) Yojnao (10)

Our Followers

Popular Posts

Deposit your work / money in PPF with this trick, become the owner of 1.5 crore, know the calculation.

Deposit your work / money in PPF with this trick, become the owner of 1.5 crore, know the calculation. The Public Provident Fund is a long-t...