EPS Pension Calculator

How EPS pension is computed

EPS-1995 takes 8.33% of employer contribution (capped at ₹1,250/month for statutory pensionable salary of ₹15,000) and parks it in a pension corpus. At age 58 the monthly pension = pensionable salary × pensionable service / 70. Pensionable salary is the average of the last 60 months' basic+DA. After the Nov 2022 Supreme Court verdict on higher pension, members can opt to contribute on actual salary (above ₹15,000) but must pay the past difference plus 8.33% interest.

Worked example

A Pune engineer joined EPF at 28 in 2002 and retires at 58 in 2032, with statutory pensionable salary capped at ₹15,000. Pensionable service = 30 years. Monthly EPS pension = 15,000 × 30 / 70 ≈ ₹6,429. If she had opted for higher pension on actual ₹50,000 basic+DA from 2014, the same formula gives 50,000 × 30 / 70 ≈ ₹21,429 — but she would have had to pay the catch-up corpus plus interest, often ₹15–20 lakh. Minimum EPS pension is ₹1,000/month for any qualifying member.

When to use this

• Salaried employees with 10+ years of EPF service planning retirement income
• Members deciding whether to opt for higher EPS pension under the 2022 ruling
• Comparing EPS payout with NPS Tier-1 annuity at age 60
• Estate planning — pair this with family pension after member's death

See also: EPS family pension calculator for spouse benefits and NPS calculator for comparison with the parallel pension scheme.