Sl.No. |
Pro-rata
Pension
|
Pension on
combined service |
1 |
Pension:- |
Pension :- |
|
a) Government pension rules |
Government pension rules |
|
b) Service up to absorption on 30/09/2000 |
Service from date of entry (before and after
absorption) to retirement. |
|
c) Every month pension will be paid from
01/10/2000. Pension will be paid while in service also. To start with,
arrears will be paid. But DA on pension is not payable till retirement.
|
Pension with DA will be paid every month after
retirement. |
2. |
Gratuity :- |
Gratuity :- |
|
The gratuity due on 01/10/2000 with interest till
the date of payment will be paid. GPF rate of interest will apply. It is
yearly compounded. Interest is taxable. Maximum gratuity (excluding
interest) is Rs.3.5 lakh |
Gratuity is paid on retirement. At present the
maximum limit is Rs.3.5 lakhs. Pay commission has recommended maximum of
Rs.10 lakhs. |
3. |
Commutation of pension is not admissible.
|
Commutation of 40% of pension is admissible. After
commutation, 60% of pension and DA on full basic pension is
payable. |
4. |
EL at credit on 30/09/2000 can be encashed. And EL
at credit on retirement also can be cashed. However the total leave
encashment amount more than Rs.three lakh is taxable. |
EL at credit on the date of retirement is
encashable. Leave encashment more than Rs. three lakh is taxable. |
5. |
GPF balance on 01/10/2000 will be converted as
employee contribution of CPF. (Contributory Provident Fund) and will
earn CPF rate interest which is 0.5 % more than the GPF interest rate.
|
GPF continues till retirement. |
6. |
For service from 01/10/2000 to till the date of
retirement:- |
|
6.1 |
Contributory provident fund :- MTNL will pay 12% of pay plus DA every month as
Employer’s contribution to the CPF. The accumulated amount with interest
will be paid on retirement.
|
Service after 01/10/2000 is also combined in the
above. |
6.2 |
Gratuity for service after 01/10/2000:- 15 days salary (pay plus DA) for every completed
year of service is payable on retirement.
|
|
6.3 |
Pension under Employees Pension Scheme ’95:-
a)
Those who may retire after 01/10/2012 are eligible.
b) Out
of the employer’s contribution to CPF, EPS pension contribution of
Rs.541/- p.m. will be remitted to the EPF organization by MTNL.
c) The
EPS pension is payable by EPF organization.
d) DA
is not admissible on EPS pension.
e) EPS
pension=Rs.6500 x No.of years of service till retirement / 70 |
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