Modification in Table D under EPS’ 95 for the purpose of calculation of withdrawal benefit in terms of para 14 of the scheme: EPFO

Modification in Table D under EPS’ 95 for the purpose of calculation of withdrawal benefit in terms of para 14 of the scheme: EPFO Order dated 24.06.2024

EMPLOYEES PROVIDENT FUND ORGANISATION
MINISTRY OF LABOUR & EMPLOYMENT,
GOVERNMENT OF INDIA
Head Office
NBCC Centre, Block-2, Ground Floor- 4th Floor,
East Kidwai Nagar, New Delhi-110023

File No: e-37633/1920

Date: 24.06.2024

All ACC (HQ)/ACCs, Zogal Offices.
All RPFCs/APFCs/OICs;-Regional Offices

Subject: – Modification in Table D under EPS’ 95 for the purpose of calculation of withdrawal benefit in terms of para 14 of the scheme-reg.

Madam/Sir,

Vide notification No. G.S.R. 326(E) dated 14.06.2024, Ministry of Labour and Employment, Government of India has modified Table D under EPS’ 95 which is used for the calculation of withdrawal benefit in terms of para 14 of the scheme.

2. Instead of taking number of years of service as the basis of calculation, henceforth in cases not illegible for pension, the completed months of contributory service shall be taken into account for calculation of the withdrawal benefits.

3. The revised Table D is applicable for all withdrawal benefit cases settled after the date of notification, irrespective of date of leaving service, in accordance with Para 6A of the scheme.

4. The only exception shall be of cases where member may have attained the age of 58 years prior to 14. 6.2024. In such cases, since date of completing 58 years i.e. date of exit from the scheme is prior to date of notification of revised Table D, the calculation will continue to be based on the erstwhile Table D.

5. Necessary changes in the application software are underway.

[This issues with the approval of ACC-HQ (Pension)]

Yours faithfully,

( S K Gupta)
Regional PF Commissioner-I(Pension)

Encl.- Employees’ Pension (Second Amendment) Scheme, 2024 – Proportion of wages at exit from the employment: Notification

Source: EPFO