I think we should discuss the subject matter as many of us have less conceptions about it. Feel free to post your queries and we shall discuss the matter as much as possible.
Re: Quarries regarding Pension (DCRB)
Query No 1. Whether family pension is applicable to a person who is already enjoying his/her own pension? Reply: Yes it is applicable as per DCRB Rule 1971.
Re: Quarries regarding Pension (DCRB)
2. How to calculate Leave Salary? Answer: cash equivalant to leave salary should be calculated upon the following calculation with a maximum number of saved Earned Leave of 300 days. Calculation =(Pay in the pay band +Grade Pay + Dearness Pay if any + Dearness allowance+ Medical Allowance) X number of E.L. / 30. (Note : No H.R.A. And other allowances are admissible)
Re: Quarries regarding Pension (DCRB)
How to calculate the date of Retirement: Normally the date of retirement should be the last date of the month on which the employee reaches the age of 60 years. If the date of birth is on 1st day of any month, the date of retirement will be the last day of previous month. E.g. If the date of birth of Mr. x is on 1st January, he will retire on 31 December of previous year. If the date of birth of mr. x is between 2nd jan to 31st jan, he will retire on 31st Jan.
How we calculate our Basic Pension? (For teachers) :- As per ROPA’09 :
1) who retired in between 01.01.2006 to 30.03.2009:- (Last Basic pay x Qualifying service x 50) / 3300= pension( if fraction then next rounded off Rupee)
2) ion or after30.03.2009:- ( Last Basic Pay x Q.S. x 50) /2000 = Pension.
How we calculate Gratuity (R) of a teacher as per ROPA’09?
Gratuity = [ (Last Basic Pay + D.A) x Qualifying Service x 2] / 4 .
Conditions:-1). Q.S. maximum 33 yrs. 2). Gratuity Amount. Maximum Rs. 6,00,000/-3). Gratuity Amt. if fraction , i) < 50 p. ignore it ii) 50p. or <50P. then next R/O Rs.
Mr. Pal, I have already created an excel utility for calculating Pension, Gratuity and many other things in a single package. You may take help of that utility. It will be same for all.
How we calculate C.P.V. of a teacher as per ROPA’09?
You may commute maximum 40% of your Pension.
Rate of C.V.P.- Age of Next Birth day- 1) 61 yrs.- 8.194, 2) 62yrs.-8.093, 3) 63yrs. – 7.982, 4) 64yrs.- 7.862, 5) 65yrs.- 7.731,6) 66yrs.- 7.591, 7) 67yrs.-7.431,
8) 68yrs.- 7.262, 9) 69yrs.- 7.083, 10) 70yrs. – 6.897, ete.
Example:- pension= Rs. 8000/-, Age on next Birthday = 61 yrs.
Commutation Amt. 40% of Rs. 8000/- = 3200/- , So C.V.P. Amount=Rs.( 3200 x8.194 x 12)= 314650/- ( 40% of Pension x Rate of next Birthday x 12)
