Payment of advance against the Productivity Linked Bonus admissible for the eligible Group C and Group B (Non-gazetted) employees of Employees’ Provident Fund Organization for the year 2022-23
The Employees’ Provident Fund Organization (EPFO) has announced the approval for the advance payment of Productivity Linked Bonus (PLB) for eligible Group C and Group B (Non-gazetted) employees for the year 2022-23. The advance, equivalent to 60 days’ wages (up to a maximum of Rs.14,000), is subject to the condition that it will be adjusted against the PLB due for the year 2022-23. An undertaking must be submitted by each eligible employee, and the advance is not applicable to those who have retired.
कमर्चारी भविष्य निधि संगठन
EMPLOYEES’ PROVIDENT FUND ORGANISATION
श्रम एवं रोजगार मंत्रालय, भारत सरकार
MINISTRY OF LABOUR & EMPLOYMENT GOVERNMENT OF INDIA
मुख्य कार्यालय / Head Office
भविष्य निधि भवन, 14, भीकाएजी कामा प्लेस, नई दिल्ली-110066
Bhavishya Nidhi Bhawan, 14, Bhikaiji Cama Place, New Delhi-110066
No: – WSU/25(1)2003/PLB/Vol.II /Pt.(E-472874)/1757
Dated:-07.11.2023
To
All Addl. CPFC (Zones),
RPFC-I (ASD), Head Office &
Director (PDNASS) and
All Regional P.F. Commissioners-In charge of
Regional Offices
Sub: – Payment of advance against the Productivity Linked Bonus admissible for the eligible Group C and Group B (Non-gazetted) employees of Employees’ Provident Fund Organization for the year 2022-23 regarding.
Sir/Madam,
Please refer to the above said subject.
It is informed that the approval has been received for the grant of advance against the Productivity Linked Bonus admissible for the eligible Group C and Group B (Non-gazetted) employees of the Employees’ Provident Fund Organization for the year 2022-23.
2. Accordingly, the competent authority is pleased to convey the advance against the Productivity Linked Bonus equal to 60 (Sixty) days’ wages subject to the maximum of Rs.14,000/- (rupees fourteen thousand only) to the eligible serving Group C and Group B (Non-Gazetted) employees of Employees’ Provident Fund Organization for the year 2022-23.
3. The payment of the advance is subject to the condition that an undertaking (in the enclosed Performa) to the effect that “the advance will be adjusted against the PLB due for the year 2022-23 and any excess payment made towards PLB for the year 2022-23 would be refunded forthwith”, shall be submitted by each eligible employee. The payment of advance is subject to the same terms and conditions that are applicable to the grant of PLB and are appended. However, advance is not admissible in respect of employees who have already retired from the services of EPFO.
4. The quantum of bonus may be assessed as per the following formula:-
= (AVERAGE EMOLUMENTS) X (NUMBER OF DAYS OF BONUS)
30.4*
‘ (* Average number of days in a month)
5. The expenditure incurred for payment of bonus may be debited from the budget head “Productivity Linked Bonus.”
6. The amount of advance against the PLB for the year 2022-23 may be paid to the eligible employees by 09.11.2023 under intimation to this office. The number of such employees and the amount disbursed may also be intimated.
(This issues with the approval of CPFC)
Yours faithfully,
Encl: As Above
(Raman Dhanasekar)
RPFC-I (WSU)
Source Document PDF
Leave a Reply