The old style of recording employee time sheet was using a sheet of paper and a pen. There was a time when employees were asked to record their entry, exit and break times. There was an old school of thought where punch card system was used. But the point is, are the employees recording their time accurately and honestly. Also the challenge is to turn this data into reports to use them for business decisions. Employee time clocks have resolved this issue for small businesses.
Five good reasons why a small business should have Employee time clocks are:
Time saving: The employee time tracking software automates thereby saving a lot of time for employees and for the HR department.
Human error: There are chances of under paying or over paying to an employee when time sheets are not calculated properly. There will be re-work which is a waste of time.
Save money: Time is money. If you save your business hours doing a productive job, you indirectly save a lot of money. You will also see a dollar reduction by using Time clock.
Reduce fraud: The manipulations involved in calculation of time either by employer or employee is eliminated.
Burden shift: The burden of calculation of the time sheet will be shifted from the employer to employer who will have to take the responsibility of entering individual data.
1. Employee Time Clocks Help You Save Time and Money
The employee time clock helps to save money and time by reduction of work. The data collection and calculations are automated. Elimination of human errors is possible with Time clocks. The employee fraudulent entries in time sheet calculation is eliminated. The employer need no keep running behind employees to fill the data. The responsibility shifts on the employee as he will be concerned with his salary. It is easy for management to identify issues relating to time in and time out calculations very soon.
2. Employee Time Clocks Are Fairer
The Time Clock & Employee Scheduling calculations are fairer than human calculations. The human element of bias, sympathy. The employee time clock does not have any feelings and it just follows the process. A sense of justice and responsibility also confers on the employees as they know they won’t be paid if they won’t work. They have to be physically present in the office to enter the data. The automated employee time clock can calculate better and also resolve issues like rounding off to the nearest while calculation. Rounding off to the nearest when done manually, has a human bias. But Time clock does it with precision and accuracy.
3. Employee Time Clocks Alert You to Attendance Issues
The time clock will generate reports, which will help you to identify timely issues in attendance before you take a business decision. When absenteeism increase at work place it impacts the employee morale. The employees who are present have to take the burden of additional work which creates resentment. When there is absenteeism, and there are ongoing projects, the productivity gets impacted. This will have impact on the cost factor too.
4. Employee Time Clocks Show You Real-Time Labor Costs
When you want to calculate the cost of labor, employee time clocks will give you accurate information. Hand written data can be inaccurate will have impact on cost of labor. You can have employee data to analyze the portion of labor which is costing more to the company. It is easy to identify the unproductive employees, and the employees who are doing over time. Labor tie and cost of labor can be compared with industry standards. The time clock helps to identify which employee time sheet is showing high despite of low production.
5. Employee Time Clocks Keep Payroll Accurate
The time clock will generate accurate payroll. This software takes into account the payroll policies while calculating the time sheet. The damage of costly errors is reduced with the help of this software. The time clock can integrate well into the existing payroll system, which reduces paper cost, processing cost, printing cost etc. These days the law has become more complex, it makes more sense to have an automated system than going through a tedious process.
If the employees of your company have submitted the request for a team outing and the management has agreed to their request then in that case, the company is suppose to write a formal memo to inform staff company trip. The letter to employee team outing consists complete detail of the outing that has been planned for the employees thereby leaving no room for confusion. It is a way of formal company outing announcement followed by company.
To help you write a Letter to Employees on sanction of their team outing we have come up with an outing letter sample. Use it by customizing it as per your requirement.
Sample Letter to Employees on Their Team Outing Sanction
This is to inform you all that the Management as accepted the request for team outing for the employees that you submitted on 05.09.2017. Given below are the details of the outing that have been sanctioned:
Date of Journey: From 25.09.2017 to 30.09.2017
Accommodation: Hotel Park View
This request has been approved subjective to the following conditions mentioned in your request letter:
- This outing has been organized on your own and therefore, this will not attract any TA or DA claims.
- You will take complete care of your travel, baggage and insurance.
- You will be responsible for your safety and your belongings.
- You will be responsible for any accidents or incidents that take place during the event.
- Management has agreed to mark all the employees as “Present” from 20.09.2017 to 24.09.2017 even though employees will not be present at work to attend to their duties.
You may work on your plan and submit the final details of the outing with the company. In case of any other help, you may get in touch with the HR department.
It is the duty of the manager to motivate his employees. Motivation is extremely important to make your employees aim higher and work harder. Without motivation, no organization and no employee can improve. Therefore, managers should know what motivates their employees and serve them the same thing to get better performance. For some money is the motivation and for some recognition is. Some enjoy new challenges and competition while some are contented with their work. It is very much subjective to a candidate what motivates him.
Understanding the Motivational Issues
Sometimes people fail to act, not because they are not motivated but because they have other issues which make it difficult for them to accomplish what they can. Here are some situations:
- Time Management Issue: Some people lack the ability to use their time and as a result they are unable to perform even when they are motivated.
- Procrastination Issue: Some people delay things not because they are not motivated but because they have some fear or they lack confidence.
- Issues with Approach: Some people have a typical that they cannot do a particular job or they should have done that job. They are somehow stuck with the past.
- Issues with Thinking Pattern: Some people think differently. They jump to conclusions, mislabel, magnify or minimize problems. They can do things but they are unable to.
A Guide to Motivation
We have come up with few motivating techniques that will help you and your organization grow.
Motivate Them to Be More Productive
Almost all the companies use rewards and competition to motivate their employees to be more productive but this kind of approach loses its luster with time. Here are a few tips to help:
- Know various kinds of rewards:
Big and unexpected rewards are used seldom but motivate employees very well. Scheduled rewards are very much expected and regular rewards that are easy to attain for anyone in the company. Rewards depending upon everyday work of employees. Companies have to use mix of these rewards to motivate the employees.
- Maintain transparent work culture
Not all companies are comfortable with this idea but maintaining transparency in company actually helps in motivating employees. This helps them trust their company better and work harder to be a stronger part of it.
- Encourage loyalty
It is not easy to find employees who are loyal to companies. So focus on this attribute which every company desires for.
- Profit sharing with employees
This is another kind of reward. Employees feel motivated because increased productivity reflects in their income as well. They are motivated to work continuously to give better results as each and every attempt that they make brings about a change in their overall earnings.
- Reward them for their hard work
It is important to reward employees for their hard work. When they get bonus for their extra commitment and new leads, they feel motivated to work harder. It is for the managers to see that each one gets paid for the hard work in the reward system.
- Excessive pressure hampers performance
If in the name of motivation, you end up putting extra pressure on your employees then it is quite damaging. It actually turns out to be the biggest demotivator for them. It is nothing but bad management skills that end up putting their employees under unnecessary performance because of which they fail to deliver even their regular performance. Be justified with what you ask your employees for.
Motivate Them to be More Creative
Make your employees more innovative, encourage them to think differently. Here are the tricks that are of great help:
- Allow Them To Have A Little Fun: If you want them to be creative, you have to allow them to have some fun. Creativity flourishes in an easy and fun-filled setting.
- Let Them Have Freedom to Think: Let your employees have their own ideas put into action, learn from their mistakes and enjoy their success.
Motivate Them to Work In Synergy
Companies have to strike the right balance between having their customers work together but not against each other. Managers have to be smart with using their motivational tactics to motivate their employees effectively so that team dynamics don’t get affected and also that employees don’t care about competition.
- Don’t let competition damage teamwork
Companies have various teams and managers must check that outputs of these teams don’t get hampered because of competition. Synchronization between the both is a must.
- Fair competition is healthy competition
The spirit of the competition has to be positive. Don’t let any kind of negative behavior surface during the competition or else it will again act as a demotivator.
- Check on gossips
Managers must make sure that any kind of practices like gossiping and backstabbing don’t surface in the company. They have long lasting damages.
This is a complete guide to help managers motivate their employees in the right way.
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Every employer understands the importance of employee recognition. Appreciating employee for his good work or amazing performance with a special reward always creates a strong connect between the employee and the Company. It is a way of boosting the self esteem and establishing more than just a professional relationship. Good companies have rewards programs for employees and various appreciation activities to acknowledge and give them rewards for job well done.
Being the employer, if you are in search of unique and useful employee reward ideas then here is a list of amazing 15 employee reward program examples under INR 500 that will be loved by your employees for sure. Have a look at this list to offer amazing rewards to the people who work for you.
1. Shopping Gift Cards
You can gift your employee a shopping voucher of any of the popular retail outlets. This is a very good recognition reward which he or she can use as per their own choice. This kind of voucher is loved by all the employees as it gives them the comfort of shopping what they want which makes them happy.
2. Lunch or Dinner
Another interesting choice of reward can be a paid lunch or dinner for the employee. This is a sweet gesture from the company’s end as a small token for all the hard work. A delicious meal is something that is always appreciated.
3. Personalized Mug
Have a coffee mug with his or her name written on it along with a caption like “Most Hard Working Employee of the Month” or anything else. You can even have his or her picture printed on it making it a perfectly customized reward.
4. Relaxed Spa Session
To ease your employee who has worked hard to deliver the performance and what better than a spa session. Pick up a spa session which falls your budget and let your employee enjoy a soothing comforting massage. He or she will completely love the experience.
5. Movie Tickets
Let your hard working employee go for a movie with his or her partner. You can give movie tickets for a recent movie as a reward to him or her. This is one thing no one says a no to. A session of entertainment will surely boost your employee to work harder for more such rewards.
6. A Car Wash
If your employee maintains a car then you can gift him a free car wash which will easily fit in the 500 INR bracket. This will add more shine to the car and smile to his face. This is a very simple yet a thoughtful reward to offer.
7. Branded Lunch Boxes
You can also find branded lunch boxes in different colors and patterns to give as rewards to your employees who are the best performers. Select from wide range of brands and patterns to make your pick.
8. Custom Phone Cover
Everyone carries a mobile phone and every phone requires a case. As a reward, you can present the team members with a case. You can have it custom made with names of each of the team mates on it or you can keep it simple.
9. Cookie and Chocolate Hamper
You can even have an assortment of sweets like cookies, biscuits and chocolates to reward your employee. It is indeed a “sweet” way of appreciating him or her for all the efforts and delivering an amazing performance.
10. Inspirational Books
Another thoughtful present to give your employees are inspirational books related with their work profile which can motivate them and help them become better in their jobs. This is a remarkable gift to offer.
11. PAYTM Recharge
This is another useful reward. Just punch the number and send the amount to your employee’s PayTM account which he can or she can use as per requirement and for the things they want. This is the new kind of reward which fits in the era of technology.
12. Mobile Accessories
We all love our mobile phones and their accessories. This can be another choice of reward for employees which will comfortably fit in the range of INR 500. You can go with trendy earplugs or mobile holders or anything else.
13. Food Vouchers
Get them food vouchers of the local eateries or cafes or Domino Pizza which are loved by all. Treat them with food your team members do their job with perfection which surely calls for a small celebration. They make a wonderfully delicious reward.
14. Free Cab Service
Make their commute easy and happy with free cab rides. You can offer them free rides of different taxi services available in your city which will surely add more comfort to their travelling without costing a penny.
15. Off From Work
Get your employee some free time by offering early off from work. It can be for a few hours or for one complete day depending upon the size of the reward. An early off from work will surely make him smile.
A comprehensive format for maintaining employee data. Store complete information of every employee working in your company in an organized manner using this master file format in Excel. This unique format helps you have all the basic details of your employees in one sheet which is easy to review, filter and organize depending upon the requirements. This employee database Excel sheet can be used for various purposes by HR department in organizing, updating and using information of employees.
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Whenever we go for an interview, we are always keen on knowing the skills that are important for getting selected. These are some of the skills which every employer looks for in the candidates, no matter what position you are applying for.
Types of Skills
There are two kinds of skills:
- Soft Skills
They take into account your attributes and inter-personal skills that are helpful in working and being successful in your professional life.
- Hard Skills
They take into account all the abilities and knowledge you need to possess in order to do a particular job. They are more tangible and are must in order to accomplish your task with effectiveness.
Top 7 Skills Employers Look For
Here is the list of the topmost 7 skills that every employer looks for while recruiting a candidate. These skills do not depend upon the profile or package and are must for every candidate to possess in order to get selected.
When you are in an organization, you need to communicate effectively. Whether it is written communication or verbal communication, you need to be able to communicate with effectiveness and confidence with people above and below you. This would surely help you share your views without any confusion and would help others understand you better. Only knowledge is not sufficient, if you cannot communicate it right.
Employers always want to hire those candidates who are positive in their approach. This is important because they have the courage to work under challenging situations. They have the capability to work with flexibility and utmost dedication in order to accomplish their task.
You should also be able to analyze the situation and figure out things independently. Analytical skills vary according to your profile and responsibilities you shoulder but are always important in order to work in a planned and organized manner. If you cannot think and analyze, you cannot work independently.
It is very important for you to have interpersonal skills which help you interact with people around you. It is of extreme importance that you are able to engage with people with confidence and comfort and this is judged during your interview because no company wants an employee who is lost in his own thoughts.
Skills to Work in Team
Companies look for candidates who are good team workers. They want employees who are cooperative and coordinating as they can achieve better targets and help organization grow. You must make sure that you share some experience which reflects your ability to work with team effectively. A team worker is always an asset to the organization.
These skills are very much subjective to your job profile. But nevertheless, every profile requires some or the other technical skills. For instance, these days every candidate is expected to use computers. You are expected to know MS Office which is considered one of the basics. Make sure you are friendly with basic technical skills, if you are going for a job which doesn’t require specific technical skills.
If the company is hiring for a position which includes leadership role then they want a candidate who can confidently interact with people, listen to their problems, motivate them to work and bring out the best out of everyone in the group. In case you are applying for a job which doesn’t require leadership skills then also this is an important skill to have if you want to climb high in the ladder.
With these top 7 skills, you will always have brighter chances of getting selected in the interview. So when you are going for the interview, make sure you are able to put forward these skills directly or indirectly.
Summers are the times when you can hire lots of part-time employees who can be really beneficial for your business. There are various stores and restaurants that hire seasonal staff which includes college interns. If you are also doing so then here is an article unfolding the useful tips on managing the part-time summer employees in an effective way. Make sure you read this comprehensive guide and keep it organized or else it can turn into a big mess for you.
Follow these tips to make optimum utilization of these seasonal job seekers. Here are some points that you must consider.
It Begins With Faith
Faith is the first and foremost point. It is difficult for managers to trust seasonal employees as they know that they are in the company for a couple of months and hence they cannot resist themselves from keeping a check on them. But then this adversely affects the performance of the employees. So make sure that you trust them and they will be able to deliver better performance. You must have confidence that you have hired the right person.
Do Not Pay Pennies
It is just not fair to pay these part-time workers pennies because they are joining you just for summer time. A fair pay is important to motivate the workers and to keep them committed and energetic. You must pay them a competitive price for their work so that they don’t feel exploited. Also make sure that you take into account the laws on minimum wages, taxes etc. so that you are following all the laws.
Keep Standards High
It is all about expectations. The more you expect from your employees, the harder they work in order to meet your expectations. Do think that because there are joining you for a couple of weeks so they are not going to perform. In fact you must think that they are the fresh and energetic lot and they have the potential to set new records. If you are able to express your high expectations then they will work hard to meet them.
It is extremely important that when you are hiring new summer interns you train them. Without giving them a basic training about how your company functions, what role they need to play, what responsibilities they need to shoulder, it will become very difficult for them to understand the working and deliver expected performance. But when you train them and educate them about all of these points, they are able to deliver better performance.
Make Them a Part of the Team
As the summer employees are going to be around for a couple of months, it is important that they are treated as the part of the organization. For that you must introduce them with the other team members so that they feel comfortable. You can have a small introduction session where you can have them introduced with your staff. You must also give them name tags or IDs to bring a consistency.
Design Projects for More Commitment
Instead of giving them just any task, you must allot them small summer projects so that they work with greater commitment and focus. You need to understand that they are coming to you to learn something, to gain some experience. You must not allot them with simply anything but a proper project which will help them stay committed to their work and they will make sure that they are able to complete it with desired output. This way they will be able to learn something and have this experience added to their resume.
Allow Them Experience Various Aspects
Do not just limit them to one thing. As they are here for a small time, they feel disconnected. To help them learn better, you must help them touch different aspects of the working instead of just one thing. This will help them have a macro view of the company’s working which will help them have better understanding of business processes. This will bring more clarity in the way they look at companies and their working.
Don’t Miss on Feedback
When you have a seasonal employee in your company, you must always ask him for feedback on different things to get a different view on the present status. This is a good way of bringing in notice the problem areas in your company and resolve the conflicting situations that are adversely affecting the performance of your organization.
Performance appraisal is an important and interesting time for every employee because this is the time when the performance of every employee is reviewed over a certain time period. This also involves feedbacks on his working and appreciating his dedication and work. But when managers send these appraisal letters there are all kinds of emotions seen amongst employees; some are happy as they have been fairly rewarded and some are disappointed as they have not received what they were expecting. Workers never utter a word when they have received a good hike but they always have complaints when appraisals don’t go as per their expectations.
Hence, it is extremely important for the managers to handle employees after their appraisal because it is essential for the organization and its performance. This article talks about some of these points.
Congratulate the ones who have received a decent appraisal
As a manager you must never forget to appreciate and congratulate the worker who has either good a hike in his salary or has been promoted. This is important as desires your acknowledgement and it works as a dose of motivation for him to work with more of dedication and enthusiasm to deliver better performance. Also a person who has worked with honesty, dedication and discipline throughout the year deserves to be congratulated and appreciated for this performance. It is a sweet gesture which infuses him with energy and zeal.
Attend the ones who have received a bad appraisal
These are the most sensitive employees at present because after for one year, they feel all their efforts have gone down the drain because the appraisal that they have received is not what they had expected. As a result of this, suddenly they become extremely negative about the organization, about the reviewing authorities and about their immediate supervisors and managers. Well, such a behavior is quite expected when you are expecting something big. Hence, it is the duty of the management to handle these employees with utmost care because the way they behave after a bad appraisal is negative and immature. You need to sit with them and ask them to look for reasons because of which they have not been able to achieve what they had desired for. As a senior, it is your duty to show them a positive path and ask them not to lose to lose hope. You must cheer them and help them revive their confidence levels so that they can start working with greater force. You need to tell them that thinking negative about the organization and fighting with your colleagues will not do any good to you.
Here are some steps which you must keep in mind while speaking with them.
- Help them find reasons for such an appraisal
It is very much important that you ask them to look into reasons because of which they have been given a bad appraisal. This will help them find negatives in their working which they can improve and give their performance a boost. Self introspection is something that they need. This will help them not to think negative about the situation rather find out reasons for failure so that they can develop and become a better person. And for sure they will be able to look at the positive side of the situation and take a lesson from what has happened. And you would also come to know if your worker is facing some problem while delivering his duties. This way you will become aware about the weak aspects of your organization which you can also improve. Such a session can be mutually beneficial.
- Ask them to speak their heart to vent out the frustration
It is important to help these candidates find a vent to let their frustration and irritation out. This will help them speak their heart out. What they feel about management, what wrong has the managers done to them and various other things will help them feel at ease. You can send them motivational mails and quotes to help them perform better and not lose hope. You need to encourage them to work better and read motivational books. You can even ask them to talk their heart and they will surely feel better. You can even guide them to do the right thing. You will have to be really very patient with them.
So keep all these points in mind to make sure that you are able to deal with your workers in the most effective way once they have been appraised. If the one who is happy is not appreciated then he feels sad and likewise, the one who is not satisfied is not counseled rightly then he may feel negative about the organization.
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Training is an essential part of any organization because it is the technique which is used for helping employees learn new technologies to hone their skills and enhance their capabilities in order to have better understanding and knowledge of various new things in the market. This is important for growth and development of employees and also for the organization. It is helpful in widening their ability to think so that they can come up with innovative ideas and think beyond the obvious so that they can become improvised and more beneficial resources for the company.
Here is this article to help you introduce training in your organization so that even you can enjoy workforce which is more skilled, talented and in synch with the present technologies and market trends. But before that you must understand that lots of money, time and energy goes into training individuals hence, managers must know about the weak areas of their teammates which require attention so that a well focused training program can be developed for them which caters these requirements. It can be for existing employees and also for the new entrants.
Let us have a look at the different methods of training which are used by organizations to make their employees competent.
On The Job Training
The best way to learn is in the practical world. On the job trainings have been designed keeping in mind this logic. They are given to employees at the office or the workplace by their managers or superiors. The superiors train their teammates regularly in order to tell them about new market trends, train them on new technologies, help them acquire skills which are supportive in their working. This makes employees better aware of their roles, responsibilities and the right way of accomplishing their tasks.
There are different kinds of on job trainings which can be used to train your workforce.
- Job Rotation
As the term suggests, in this method the employee moves from one position to another. The idea is to help him learn new skills and ways to perform different kinds of jobs that are related with each other to have better understanding of work. This way they become exposed to different jobs, how they need to be performed and what challenges they need to meet in order to accomplish those jobs. This makes them an all rounder.
This is another method in which the manager allots different job responsibilities to different employees and then he monitors the performance of each one of them. He points out their weak areas, their mistakes and provides them with feedbacks so that they can improvise on their working. The idea is to make the team handle their job and learn the right way of performing it.
Off the Job Training
This is opposite to the above mentioned technique. In this kind of training, the process of training takes place outside the workplace. They are again of different types and kinds.
- Simulation Exercise
In this process, the individuals are trained in an artificial environment which closely resembles their actual working area so that they can have better understanding of their job.
- Seminars and Conferences
This kind of technique is very effective when the numbers of trainees. When the audience is large then trainers use seminar or conference methods to share relevant information with them; they also talk about the recent developments in the market, the latest technologies used in industry and various other topics they wish to cover. They even use case studies to make these sessions more interactive.
- Vestibule Training
In this kind, employees are trained to work on a new machine or equipment they will soon be using at their actual workplace. This is done so that they are able to learn all the technicalities involved in using that particular machine so that they can clear their doubts and perform with greater effectiveness and lesser errors.
Whenever a company recruits new employees, it is the responsibility of the organization to familiarize these new candidates with the organization, its policies, its structure, its rules and regulations in order to make him feel part of the family. It is very important for the newcomers to become aware about the working process of the company so that he is able to deliver what is expected of him. These induction training programs need to be designed intelligently. You must know what all information you must put across on the first meeting with these new entrants and what information must be shared later. These programs have to be short and informative. You must not miss anything important and you must not make it boring and uninteresting. Make sure you strike a balance to make it effective.
Refresher Training Programs
You need to train your existing employees from time to time. These are essential for refreshing their knowledge and help them learn new skills, technologies and understand present market trends so that they are able to work in synch with the present markets. These are important to prepare your existing human resources and make them competent to meet the challenges in the market. This makes them more responsible and better learned individuals.
These are different kinds of training methods which are used by most of the organizations to keep their employees updated and competent because human assets are the strongest assets for any organization.
There is no upper limit for EPS-95 Pension. For pension calculation, the service will be taken into 2 parts. Service before 16.11.95 and service w.e.f 16.11.95. The first one is called as past service and latter one as pensionable service. Past service is divided into 4 slabs. Service upto 11 years, 12 to 15 years, 16 to 19 years and 20 & above. If the salary on 16.11.95 is below Rs. 2500, the monthly compensation will be Rs. 80, 95, 120 & 150 respectively. For Rs. 2500 & above this will be Rs. 85, 105, 135 & 170. This amount is for those who attain 58 years on 16.11.95. In the case of those attain 58 years after 16.11.95, the above compensation will be multiplied by a factor stipulated in table B, according to the difference between 16.11.95 and the date of completion of 58 years.
For pensionable service there is a formula to calculate pension. It is Pensionable Salary x Pensionable Service / 70. Pensionable salary can be categorised in to 3. 1) Below Rs. 6500. 2) Rs. 6500 & above, but contribution on statutory celing of Rs. 6500. 3) Above Rs. 6500 & opted to contribute on actual salary. In case of 2nd, pensionable salary is Rs. 6500. In other two cases, pensionable salary will be the average of last twelve months. Also if pensionable service is 20 years & above 2 year’s bonus will be given.
Date of join – 23.2.1987
Salary on 16.11.95 – Rs. 2500 & above
Salary on completion of 58 years on 1.1.2019 – Rs. 6500 (Statutory Ceiling)
Past Service – 8 yr 9 m (approx) rounded to 9 years
Compensation – Rs. 85
Factor as per Table B (for less than 24 years, i.e the difference between 16.11.95 & 1.1.2019) – 6.102
(This can be calculated as 1.08 to the power of 24 – 0.5, correct to 3 decimals)
Past Service Benefit – 85 x 6.102 = Rs. 519 – (A)
Pensionable Service – 23 years
Bonus (Service is 20 & above) – 2
Pensionable Salary – Rs. 6500
Pensionable Benefit – 6500 x 25 / 70 = 2321 – (B)
Total Pension – (A) + (B) = Rs. 2840
Besides the above method calculation there will be a minimum for those who have service before 16.11.95. In the EPS-95, they are categorized into three.
1. Date of commencement of Pension before 16.11.2000
2. Date of commencement of Pension between 16.11.2000 & 16.11.2005
3. Date of commencement of Pension after 16.11.2005
As the first two categories are already over, I shall a give a brief on third.
Pensionable benefit (minimum) of Rs. 635 and Past service benefit as mentioned above, subject to a minimum of Rs. 800. This amount is for 24 yrs or more service. If it is less than 24 yrs, this will be reduced in proportionate (amount x actual service / 24). However this amount will be subject to a minimun of Rs. 450.
I shall insert Excel work sheet to calculate pension. Enter Date of Birth, Date of Join, Date of Seperation from Service, Salary on 16.11.95, Salary on Seperation from Service ( in compliance with the contribution to pension fund) and break in service before and after 16.11.95, if any in green colour column. The results will appear in yellow colour column. The red colour is for static information.