It is very simple software designed in MS Excel Sheet, prepared by Mirza Asghar Baig. You can find out your pension and commute in just less than 5 seconds with the help of this software. You have to feed only your Basic Pay, Length of Service & Age and this formula will calculate your Pension along with allowances and commute. You can say that it is a very simple Pension Calculator.
There are four categories of employees according to age range in this formula sheet. The 1st one is for the employees of age ranging from 29 to 36 years. 2nd one is for the age group of 37 to 44, 3rd one is for 45 to 52 years employees and the last one is for the employees who are going to retired between the age ranges of 53 to 60 years.
The 1st Column is for the Employees name, 2nd one is for Basic Pay, 3rd column is for Length of Service and the 4th column is for age. In the second last column pension per month is shown and in the last column total commute is shown. Here is to mention that this calculator is effective wef 01-07-2012 as soon as there occur changes in pension, new version of the same calculator will be released.
Note: I have tried to calculate Pension by this calculator. Some times the result are not accurate. How ever gratuity is 100 % accurate.
Don't Forget: Calculate Pension & Commute Manually