pated siftver Patt cere (HA AMC, HA AOR) Employees’ Provident Fund Organisation (Ministry of Labour, Govt. Of India) aye wratfera/ Head Office after Pate scot, 26 West ca te, a8 Pree 99008 Bhavishya Nidhi Bhawan, 14-Bhikaji Cama Place, New Delhi-110066 No. Pension/3/9/2005/Para ean a Dated: To o\ All Regional Provided Fund Commissioners 3 E2008 All OICs of SROs Sub.: Option for Retum of Capital under Para 13- Revised instructions thereon, Sir Vide this office circular No. Pen/2/4/Clarification /96/B dated 30-10-98 on the above subject the calculation of pension on the option of both commutation and ROC was communicated as under a) Original monthly pension under para 12 Rs. 600/- b) Amount of pension commuted under Para 12 Rs, 200/- ©) Amount of commuted value of pension Rs, 20,000/- (200 x 100 = 20,000) d) Balance of original monthly pension (600-200) Rs, 400/- ©) Reduced pension under Para 13(1) for ROC Rs. 340/- (Reduction for option-1 at the rate of 10% of Original pension) (600-200-60) ) Pension in payment (on commutation and ROC) Rs, 340/- 8) ROC as per the option exercised {400x100=40,000) (Option 1 & 3) (40x 90 = 36,000) (Option 2) h) Spouse Pension on death of member pensioner Rs, 300/- [50% of original monthly pension as at (a)] Above illustration was found incorrect on audit observation. In view of clear Explanation 4 of Para 13 of EPS-1995 the illustration may be as under 1) Original monthly pension under Para 12 Rs. 600/- 2) Amount of pension cormmuted under Para 124 Rs, 200/- GB of Rs, 600/-) 3) Amount of commuted value of pension Rs, 20,000/- (200 x 100 = 20,000) . 4) Balance of original monthly penion (600-200) Rs, 400/- ‘C:\Documents and Settings\epfo\Mv Documents\Dhramviridharamvir.doc5) Revised Pension under Para 13 To the member as per ROC(Option-I) @90% (600-200-40) Rs. 360/- To the member as per ROC(Option-2) @90% (600-200-40) Rs, 360/- To the widow as per ROC(Option-2) @80% (600-200-80) Rs. 320/- To the member/nominee as per ROC(Option-3) @87.5% (600-200-50) Rs. 350/- 6) Retum of Capit As per Option-1 & 3 (400 X 100) Rs, 40000/- As per Option-2 (400 X90) Rs, 36000/- (This issues with the approval of CPFC) Yours faithfully Copy torr __ eee = 1) PS to CPFC 7) ~All Zonal Training Institutes 7 2 FA&CAO 8) All Zonal Audit Offices 3) All Addl. CPFCs Zones/Head Office |9) Director (IS ) ~ with a request to 4) Director (NATRSS) webcast the above circular 5) Director / Deputy Director(Audit) | 10) _ANl Officers of Head Office 6) Director / Deputy Director'Vig.) xy (K.V. SARVESWARAN) REGIONAL P F COMMISSIONER (PENSION) C:\Documents and Settings\epfo\My Documents\Dhramyir\dharamvir.doc