EPS Pension Calculator
What monthly pension will EPS actually pay you?
Uses the EPS-95 formula EPFO's own estimator uses — pensionable salary × pensionable service ÷ 70 — with the parts EPFO's page doesn't show: pensionable salary is capped at ₹15,000/month no matter what you earn (that cap, unchanged since 2014, is why EPS pensions feel small), service above 20 years earns 2 bonus years, and drawing early (from 50) cuts the pension 4% for every year before 58. Pension is also floored at ₹1,000/month. Members who opted for higher-wage pension under the 2022-23 Supreme Court window follow different math — this models the standard capped case.
Tax: EPS pension is fully taxable as salary income at your slab (it also gets the pensioner's standard deduction, and under the new regime a total income up to ₹12L pays nothing — so for most EPS-scale pensions the real tax is zero; set the slab accordingly). Remember EPS is only one leg of the same job's retirement: the EPF corpus (see the EPF Calculator) is the other, larger leg, and it's tax-free.