Instructions

1 This spreadsheet tool is intended for the use of TCS's employees only. Any unauthorized use or circulation of this spreadsheet tool is prohibited.

2 This spreadsheet tool is designed to enable employee to estimate the pension amount receivable under Employee's Pension Scheme ('EPS') considering individual specific factors
like date of joining, retirement age, salary amount, etc. While the tool will provide a comprative estimate factoring the aspects outlined, please be informed that the decision is
highly individualistic and must be based on a combination of the financial and other qualitative factors and not based on the estimates provided herein alone.

3 The comparative estimation is calculated for four scenarios:

A. Scenario #1: Pension contributions are made on capped salary i.e. wage ceiling, where pensionable salary is average of last 60 months' wages (basic salary), subject to wage
ceiling (i.e. INR 15,000 or INR 6,500 as the case may be).
B. Scenario #2: Pension contributions are made on higher salary where pensionable salary is average of last 60 months actual wages
C. Scenario #3: Pension contributions are made on capped salary where pensionable salary is sum-total of:
- For the period starting from date of joining EPS till 31 aug 2014 ~ Minimum of average of last 60 months' wages (subject to wage ceiling) and INR 6,500.
- For the period starting from 1 Sep 2014 till date of retirement ~ average of last 60 months' wages (subject to wage ceiling) and INR 15,000.
D. Scenario #4: Pension contributions are made on higher salary where pensionable salary is average salary since inception till date of retirement

4 Objective of the tool is to assist the employee in estimating the benefit under Scenario #2 (mentioned above) and compare it with Scenario #1 (mentioned above). Benefit under
Scenario #1, will get computed in this tool, only if there is a benefit under Scenario #2. Eligiblity to opt for higher pension is determined based on the principles of the Supreme
Court ruling. This tool is intended to calculate differential benefit under both the aforementioned scenarios, and is not intended to determine the eligibility to opt for higher
pension.

5 In the tab 'Input', employees needs to enter personal details like - demographic, membership, retirement, contribution, tax rates and life expectancy details. Please enter the
details only in 'green' coloured cells. You may see some inputs are auto-calculated, which shall appear in 'blue' coloured cells.

6 After filling in details in the 'Input' tab, you can enter the actual salary on which PF contributions were made (in earlier years by referring to your Payslip) in the tab titled 'Calci-
detailed_table'. You can enter these details in the 'green' coloured cells. The estimated interest on EPF to be received in the future for 2023-2024 onwards can also be changed as
per your assumption.

7 Output' tab shows detailed calculation under above mentioned scenarios.

8 Please note that the following assumptions are considered while computing the output.
a Our assumption w.r.t. methodology of computation/ allocation of PF and EPS contributions during the service period is mentioned below. Please refer 'Annexure to Instructions'.

b It is assumed that there is no partial PF withdrawal or non-contributory service period, during the entire service period.
c Entire PF accumulation (including interest thereon), computed as on the retirement date has been considered as tax free.
d Pension payments are considered as taxable. Tax rate applicable on pension payment has been requested in the 'Input' tab.
e Salary increment is effective from the beginning of the Financial Year i.e. from April.
f Date of birth and date of joining are assumed to be first day of the month.
g Retirement age has been assumed to be between 50 years and 58 years in this spreadsheet tool. Where retirement age is beyond age of 58, it is assumed that the pensioner shall
continue to contribute till the age of retirement. Further, option to contribute till 60 is also considered for employees who wish to contribute till 60 years.

h Date of retirement is assumed to be last day of the month.

i Date of death is assumed to be last day of the month.
j Features/ other assumptions relating to methodology of computation are as follows:
i) The calculation begins from the year of joining EPS, which can be a month starting from Nov 1995 i.e. from inception of EPS. For TCS employees, the EPS contributions started
from July 2006. Further, date of joining should not be after Aug 2014, as such employees will not be eligible for EPS membership.
ii) Historical wage ceilings, PF contribution rates and PF interest rates have been considered from Nov 1995.
iii) Estimated tax outflow on monthly pension calculated at the tax rates estimated by the user.
iv) If the expected month & year of death is provided before retirement, the output will be nil. We have also mentioned in the guidance to provide the same after retirement.
v) Calculation of pensionable salary on capped pension contribution - Proration on last 60 months salary where salary is capped at respective wage ceiling. Calculated only if
employment / service period is for 10 years or more.
vi) Calculation of pensionable salary on higher contribution- Calculated as an average of last 60 months salary prior to retirement.  Calculated only if employment / service period is
for 10 years or more. Further, it shall be calculated only if the user is existing member on and before 01 September 2014 and 'EPF Wages' is INR 15,000 or more.

vii) Pensionable service shall increase by 2 years if user has retired on or after completion of 58 years of age and served for 20 years or more.
viii) a) An employee may be allowed to draw an early pension from a date earlier than 58 years of age but not earlier than 50 years of age. In such case, pension amount gets reduced
at the rate of 4%, for every year the age (as on retirement date) falls short of 58 years. In the 'Output' tab, the amount of pension is getting reduced at the rate of 4%, for every
year the age (as on retirement date) falls short of 58 years, based on assumption that the employee opts for early pension, wherever applicable.

b) An employee may be allowed to defer pension from a date later than 58 years of age up to the age of 60. In such case, pension amount gets increased at the rate of 4%, for
every year the retirement age is in excess of 58 years. In the 'Output' tab, the amount of pension is getting increased at the rate of 4%, for every year, based on assumption that
the employee opts for deferred pension, wherever retirement age is above 58 years.

ix) User can compare both real value & present value of pension benefit as on date of retirement under both options, based on the present value factor requested in the 'Input' tab.

x) For Family Pension calculation, we have only considered scenario where commencement of payment of monthly member’s pension has started. In which case, Spouse is eligible
for Pension equal to 50% of member’s pension and children are eligible for receiving 25% of aforementioned Spousal pension amount (i.e. 12.5% of member’s pension) (up to 2
surviving child as on date of death of the pensioner employee, until they achieve age of 25 years). Further, orphan pension has not been considered in this spreadsheet tool.

9 Exact modalities for lumpsum transfer of corpus from EPF to EPS, are awaited from Government. In the interim, this tool has been designed to assist the employee to have a
broad understanding of estimated amount of PF to be transferred to the Pension fund, in case the employee opts for the higher pension option. Neither TCS nor TCSEPF will be
responsible for any decision taken by the employee in this regard.
10 Pension has been computed based on the current guidelines and using certain assumptions. Specific factors that would impact the outcome of higher pension calculation could
vary depending on the guidelines from EPFO. In the event, authorities, change the methodology for pension computation, output from this tool would not be reflective of the
scenario. In the interim, this spreadsheet tool is designed to enable the employee to have a broad understanding of the factors involved and assist in decision making. While the
spreadsheet tool provides a comparative estimate under the capped and uncapped scenarios, the final decision would vest with the employee. Neither TCS nor TCSEPF will be
responsible for any decision taken by the employee in this regard.

Annexure to Instructions:
Particulars Prior to 1 Sep 2014 W.e.f. 1 Sep 2014
PF EPS PF EPS
Scenario 1: Member opts to contribute EPS on capped salary
Employee's contribution 12% of EPF Wages ie basic salary 12% of Wages
('Wages')
Employer's contribution 12% of Wages less ER’s 8.33% of [lower of Wages and INR 12% of Wages less ER’s contribution 8.33% of [lower of Wages and
contribution to EPS 6,500] to EPS INR 15,000]
Central Government's contribution 1.16% of [lower of Wages and INR 1.16% of [lower of Wages and
6,500] INR 15,000]
Scenario 2: Member opts to contribute EPS on higher salary
Employee's contribution 12% of Wages 12% of Wages less EE’s contribution 1.16% of Wages less CG’s
to EPS, if any contribution
Employer's contribution 3.67% of Wages 8.33% of Wages 3.67% of Wages 8.33% of Wages
Central Government's contribution 1.16% of [lower of Wages and INR 1.16% of [lower of Wages and
6,500] INR 15,000]
S No Particulars Inputs
1 Month of Birth 2
2 Year of Birth 1970
3 Month of Joining EPS 8
4 Year of Joining EPS 2006
5 Month of retirement 2
6 Year of retirement 2030
7 Retirement age 60

8 'EPF Wages' amount in the year of joining, on which PF contributions were made 15,000
9 Expected %age increase in salary in each Financial Year (Apr-Mar) during your service period 7.00%
(compounded annually)
10 Expected %age interest to be earned from PF accumulations from FY 22-23 till year of retirement 8.00%
(compounded annually)

11 Expected tax rate on pension payments after date of retirement 10.00%

12 Present value factor to be considered for computing present value of pension payments as on date of 7.00%
retirement (per annum monthly compounded interest rate)
13 Last month for receipt of pension (basis your expected life expectancy) 2
14 Last year for receipt of pension (basis your expected life expectancy) 2045
15 Last month for receipt of pension by spouse (basis expected life expectancy of your spouse)
16 Last year for receipt of pension by spouse (basis expected life expectancy of your spouse)
17 Month of birth of eldest child (child #1)
18 Year of birth of eldest child
19 Last Month & Year for receipt of children pension by child 1 Dec-99
20 Month of birth of 2nd eldest child (child #2)
21 Year of birth of 2nd eldest child
22 Last Month & Year for receipt of children pension by child 2 Dec-99

S No Colour coding
1 Input details to be provided in: Green cells
2 Some of the input detail shall be auto-calculated, which shall appear in: Blue cells
###

Particulars

Provident Fund Benefit

Balance of Employee PF contribution
Balance of Employer PF contribution
PF Interest
Total (i)
Pension Benefit (Applicable if contribution to pension fund is for minimum 10 years)
Pensionable Salary
Pensionable Service
Monthly Pension
Less: Reduced pension in case of pension claimed before age of 58 but on or after 50
Add: Increased pension for deferment
Less: Tax liability
Monthly Pension after tax (NMP)
Expected number of months for which pension will be received
Total Pension over expected life time after expected tax (ii)
Present Value of total pension at retirement age (iii)
Family Pension
Monthly pension for spouse
Expected number of months for which spouse will receive pension
Monthly pension for Children
Expected number of months for which child 1 will receive pension
Expected number of months for which child 2 will receive pension
Total Family Pension (iv)
Total Family Pension (at present value at retirement age) (v)
Total Benefits (i+ii+iv)
Total Benefits ( at present value at retirement age) (i+iii+v)
Estimated PF amount to be transferred to Pension fund till FY 2022-23
Scenario 1: Member opts to contribute EPS on capped salary Scenario 2: Member opts to contribute EPS on higher salary
Pensionable salary= Average 60 Months Pension on capped Pensionable salary= Average 60 Months Pension on
limits ( pro-rated where 60 months include period before uncapped limits
Sept 2014)

Amount in INR Amount in INR

1,240,883 1,175,516
956,003 379,504
2,799,277 2,061,134
4,996,163 3,616,154

15,000 62,053
25.58 25.58
5,480 22,680
- -
438 1,814
(592) (2,449)
5,327 22,045
180 180
958,781 3,968,093
592,612 2,452,633

- -
- -
- -
- -
- -
- -
- -
5,954,944
5,588,775
contribute EPS on higher salary Scenario 3: Member opts to contribute EPS on capped salary Scenario 4: Member opts to contrib
rage 60 Months Pension on Pensionable salary= Pension capped limits at 6,500 till 01 Pensionable salary= Average salary s
ed limits Sept 2014 and 15,000 post that salary

nt in INR Amount in INR Amount in IN

1,240,883 1,175,516
956,003 379,504
2,799,277 2,061,134
4,996,163

11,655 36,540
25.58 25.58
4,260 13,350
- -
341 1,068
(460) (1,442)
4,141 12,976
180 180
745,330
460,680

- -
- -
- -
- -
- -
-
-
7,584,247 5,741,493
6,068,787 5,456,843
552,874
o 4: Member opts to contribute EPS on higher salary
ble salary= Average salary since inception on Higher
salary

Amount in INR

3,616,154

###

2,335,716
1,443,680

-
-
5,951,870
5,059,833
552,874
 Scenario : Member opts to contribute EPS on capped salary Scenario : Member opts to contribute on higher salary
Monthly Amounts Annual Amounts Contribution rate
No of Employee Contribution Employer Contribution Monthly PF contribution Accrued Interest Interest rate PF Balance Employee Contribution Employer Contribution Monthly PF Accrued Interest Interest rate PF Balance Accumulated Reduction for
Financial Year EPF Wages Wage New Wage months Annual EPF Wages Wage Ceiling Contribution New EPF EPS EPF EPS EPF EPS EPF EPS contribution PF balance
Ceiling Ceiling rate Contribution
rate
2006-07 15,000 6,500 - 8 120,000 52,000 12% 0% 14,400 - 10,070 #NAME? 3,059 607 8.50% 25,077 14,400 - 4,404 #NAME? 2,351 466 8.50% 19,270 5,806
2007-08 16,050 6,500 - 12 192,600 78,000 12% 0% 23,112 - #NAME? #NAME? #NAME? #NAME? 8.50% #NAME? 23,112 - #NAME? #NAME? #NAME? #NAME? 8.50% 52,264 16,216
2008-09 17,174 6,500 - 12 206,082 78,000 12% 0% 24,730 - #NAME? #NAME? #NAME? #NAME? 8.50% #NAME? 24,730 - #NAME? #NAME? #NAME? #NAME? 8.50% #NAME? #NAME?
2009-10 18,376 6,500 - 12 220,508 78,000 12% 0% 26,461 - #NAME? #NAME? #NAME? #NAME? 8.50% #NAME? 26,461 - #NAME? #NAME? #NAME? #NAME? 8.50% #NAME? #NAME?
2010-11 19,662 6,500 - 12 235,943 78,000 12% 0% 28,313 - #NAME? #NAME? #NAME? #NAME? 9.50% #NAME? 28,313 - #NAME? #NAME? #NAME? #NAME? 9.50% #NAME? #NAME?
2011-12 21,038 6,500 - 12 252,459 78,000 12% 0% 30,295 - #NAME? #NAME? #NAME? #NAME? 8.25% #NAME? 30,295 - #NAME? #NAME? #NAME? #NAME? 8.25% #NAME? #NAME?
2012-13 22,511 6,500 - 12 270,131 78,000 12% 0% 32,416 - #NAME? #NAME? #NAME? #NAME? 8.50% #NAME? 32,416 - #NAME? #NAME? #NAME? #NAME? 8.50% #NAME? #NAME?
2013-14 24,087 6,500 - 12 289,041 78,000 12% 0% 34,685 - #NAME? #NAME? #NAME? #NAME? 8.75% #NAME? 34,685 - #NAME? #NAME? #NAME? #NAME? 8.75% #NAME? #NAME?
2014-15 25,773 6,500 15,000 12 309,274 137,500 12% 0% 37,113 - #NAME? #NAME? #NAME? #NAME? 8.75% #NAME? 36,238 875 #NAME? #NAME? #NAME? #NAME? 8.75% #NAME? #NAME?
2015-16 27,577 15,000 - 12 330,923 180,000 12% 0% 39,711 - #NAME? #NAME? #NAME? #NAME? 8.80% #NAME? 37,960 1,751 #NAME? #NAME? #NAME? #NAME? 8.80% #NAME? #NAME?
2016-17 29,507 15,000 - 12 354,087 180,000 12% 0% 42,490 - #NAME? #NAME? #NAME? 67,149 8.65% #NAME? 40,471 2,019 #NAME? #NAME? #NAME? 50,162 8.65% #NAME? #NAME?
2017-18 31,573 15,000 - 12 378,873 180,000 12% 0% 45,465 - #NAME? #NAME? #NAME? #NAME? 8.55% #NAME? 43,158 2,307 #NAME? #NAME? #NAME? #NAME? 8.55% #NAME? #NAME?
2018-19 33,783 15,000 - 12 405,394 180,000 12% 0% 48,647 - #NAME? #NAME? #NAME? #NAME? 8.65% #NAME? 46,032 2,615 #NAME? #NAME? #NAME? #NAME? 8.65% #NAME? #NAME?
2019-20 36,148 15,000 - 12 433,772 180,000 12% 0% 52,053 - #NAME? #NAME? #NAME? #NAME? 8.50% #NAME? 49,109 2,944 #NAME? #NAME? #NAME? #NAME? 8.50% #NAME? #NAME?
2020-21 38,678 15,000 - 12 464,136 180,000 12% 0% 55,696 - #NAME? #NAME? #NAME? #NAME? 8.50% #NAME? 52,400 3,296 #NAME? #NAME? #NAME? #NAME? 8.50% #NAME? #NAME?
2021-22 41,385 15,000 - 12 496,626 180,000 12% 0% 59,595 - #NAME? #NAME? #NAME? #NAME? 8.10% #NAME? 55,922 3,673 #NAME? #NAME? #NAME? #NAME? 8.10% #NAME? #NAME?
2022-23 44,282 15,000 - 12 531,389 180,000 12% 0% 63,767 - #NAME? #NAME? #NAME? #NAME? 8.00% #NAME? 59,691 4,076 #NAME? #NAME? #NAME? #NAME? 8.00% #NAME? #NAME?
2023-24 47,382 15,000 - 12 568,587 180,000 12% 0% 68,230 - #NAME? #NAME? #NAME? #NAME? 8.00% #NAME? 63,722 4,508 #NAME? #NAME? #NAME? #NAME? 8.00% #NAME? #NAME?
2024-25 50,699 15,000 - 12 608,388 180,000 12% 0% 73,007 - #NAME? #NAME? #NAME? #NAME? 8.00% #NAME? 68,038 4,969 #NAME? #NAME? #NAME? #NAME? 8.00% #NAME? #NAME?
2025-26 54,248 15,000 - 12 650,975 180,000 12% 0% 78,117 - #NAME? #NAME? #NAME? #NAME? 8.00% #NAME? 72,654 5,463 #NAME? #NAME? #NAME? #NAME? 8.00% #NAME? #NAME?
2026-27 58,045 15,000 - 12 696,543 180,000 12% 0% 83,585 - #NAME? #NAME? #NAME? #NAME? 8.00% #NAME? 77,593 5,992 #NAME? #NAME? #NAME? #NAME? 8.00% #NAME? #NAME?
2027-28 62,108 15,000 - 12 745,301 180,000 12% 0% 89,436 - #NAME? #NAME? #NAME? #NAME? 8.00% #NAME? 82,879 6,557 #NAME? #NAME? #NAME? #NAME? 8.00% #NAME? #NAME?
2028-29 66,456 15,000 - 12 797,472 180,000 12% 0% 95,697 - #NAME? #NAME? #NAME? #NAME? 8.00% #NAME? 88,534 7,163 #NAME? #NAME? #NAME? #NAME? 8.00% #NAME? #NAME?
2029-30 71,108 15,000 - 11 782,187 165,000 12% 0% 93,862 - #NAME? #NAME? #NAME? #NAME? 8.00% #NAME? 86,703 7,159 #NAME? #NAME? #NAME? #NAME? 8.00% #NAME? #NAME?
2030-31 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2031-32 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2032-33 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2033-34 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2034-35 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2035-36 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2036-37 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2037-38 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2038-39 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2039-40 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2040-41 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2041-42 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2042-43 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2043-44 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2044-45 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2045-46 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2046-47 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2047-48 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2048-49 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2049-50 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2050-51 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2051-52 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2052-53 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2053-54 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2054-55 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2055-56 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2056-57 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2057-58 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2058-59 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2059-60 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?
2060-61 - - - - - - 12% 0% - - - - - - 8.00% - - - - - - - 8.00% - #NAME?