What is the commutation formula?

Formula for working out Commuted Value of pension = Amount of pension to be commuted X 12 X purchase value for age next birth day.

How is DCRG calculated in Kerala?

The amount of DCRG is equal to half of the emoluments last drawn by the officer * No of years of Q.S. (maximum 16 ½ times emoluments last drawn or Rs. 14,00,000 whichever is less) w.e.f. 1-07-2014.

What is the highest pension in India?

Minimum pension presently is Rs. 9000 per month. Maximum limit on pension is 50% of the highest pay in the Government of India (presently Rs. 1,25,000) per month….Pensioners’ Portal.

Qualifying Service Rate
Less than one year 2 times of basic pay
One year or more but less than 5 years 6 times of basic pay

What is the rule for commutation of pension?

Commutation of Pension: Commuted portion of pension is required to be reduced from pension from the date of payment of the commuted value of the pension or after three months from the date of issue of PPO or from the date, capitalized sum is credited to the pensioner’s account.

How gratuity is calculated?

Even if the organisation is not covered under the Gratuity Act, the employees would still receive the Gratuity amount. But the number of days will be changed from 26 to 30 days. The Gratuity calculation formula is: Gratuity = (15 × last drawn salary × working tenure)/30.

What is the maximum limit of DCRG?

5) Maximum ceiling on DCRG is fixed at Rs. 10 Lakhs from 1/1/2006. 6) Maximum amount of pension that could be commuted is 50% of admissible Pension….QUICK LINKS.

SLNO Activity Authority Concerned
(ii) In respect of Gazetted Officers AG(A&E)
2. Verification of retirement/death benefits AG (A&E)

How is DCRG calculated?

If employee is dead before attaining his qualifying Service of Retirement, Thecalculation of DCRG in such case is as follows.

  • (Total pay = Basic pay + Grade Pay )
  • Where Multiplying Factor varies as follows.
  • 1 to 5 years 6.
  • 5 to 20 years 12.
  • above 20 SMP / 2 (in case of death)
  • SMP / 4 (on retirement)

    • Does wife get full pension if husband dies?

    (i) Family Pension is payable to widow or widower up to the date of death or re-marriage, whichever is earlier. on re-marriage, if her income from all other sources is less than the amount of minimum family pension and the dearness relief admissible.