Monday, January 30, 2012

ONGC PRBS - Formula for GOI Approved PRBS - 91 - By Narayan Singh Rathore

Formula for GOI Approved PRBS-91 - By NS Rathore

Friends! very sorry. To avoid confusion, I have deleted the Pension Calculation Formula under PRBS 1990 of 29.4.1990. I am giving the Formula applicable to GOI Approved PRBS-1991: - (A) Reckonable Service: (i) Past Service (PS) i.e. Yrs + days/365 (Service upto 31.03.1990) = 00.000 years. Discounted P.S. (1 - PS x 1.21/100) x PS = 00.000 years Reck. P.S. (ii) Future Serv. (after 1.4.1990) & to be appreciated (1 + FS x 0.6/100) x FS = 00.000 yrs. (iii) Total Reckonable service (i) + (ii) = 00.000 yrs. (B) Entitlement of Pension Benefit: (i) 40/33 x (iii) afore = % of Revised Last Sal. as pension (ii) Monthly pension: Last Sal. x % as (B) (i) afore = pension/month.


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