In a letter from the EPFO (Employees’ Provident Fund Organization) Head Office, the Central Government has approved the existing Productivity Linked Bonus Scheme for the year 2021-22 for the employees of EPFO. The approval allows for the payment of the Productivity Linked Bonus for the year 2021-22 for 60 days in all offices of EPFO, with a maximum amount of Rs. 13816. The bonus has been assessed on the basis of data submitted by the Zonal Offices and will be paid to all Group ‘C’ and Group ‘B’ (Non-Gazetted) employees of EPFO. The terms and conditions governing the payment of the bonus will follow the instructions issued by the Ministry of Finance, and the expenditure incurred will be debited from the Budget Head “Productivity Linked Bonus.” This letter has the approval of the Central P.F. Commissioner.
Declaration of Productivity Linked Bonus (P.L.B.) for the employees of the EPFO for the year 2021-22
EPFO, HEAD OFFICE
MINISTRY OF LABOUR & EMPLOYMENT. GOVERNMENT OF INDIA :
BHIKAIJI CAMA PLACE, NEW DELHI 110066
No. WSU/ 25(1)/ 2003/ PLB/ Vol.II/ 1577
Date: 25.01.2023
TO
All ACC(HQ)s Zones
All ACC(Zones and Regional offices),
RPFC-I (ASD), Head Office,
Director (PDNASS) and
All Regional P.F. Commissioners- Incharge of
Regional Offices.
Sub: Declaration of Productivity Linked Bonus (P.L.B.) for the employees of the EPFO for the year 2021-22.
Ref: Head Office Letter No: WSU/25(1)/2003/PLB/Vol.II/11575 dated 19.10.2022.
Sir/Madam,
In continuation of the earlier letter under reference, the Central Government has conveyed its approval to the existing Productivity Linked Bonus Scheme for the year 2021-22 for the employees of EPFO vide letter No 11-5/2018-E.III(A)(2895394/22) dated 05.01.2023.
- Accordingly, the competent authority is pleased to convey the approval for payment of the Productivity Linked Bonus for the year 2021-22 for 60 (Sixty) days in all the offices of EPFO subject to maximum of Rs. 13816 Thirteen thousand eight hundred and sixteen only). The bonus of 60 days has been assessed on the basis of data/information submitted by the Zonal Offices in compliance to Head Office letter dated 12.08.2022. The payment of bonus is to be released to all Group ‘C’ and Group ‘B’ (Non-Gazetted) employees of EPFO.
- The terms and conditions governing payment of P.L.B. will be as per the instructions and other terms & conditions issued by the Ministry of Finance O.M. No.7/24/2007/E.III (A) dated 18.10.2021 for payment of bonus. 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)
- The expenditure incurred for payment of bonus may be debited from the Budget Head “Productivity Linked Bonus.” after making necessary transfer entries against the advance drawn earlier.
- This has approval of Central P.F. Commissioner.
Yours faithfully,
(V. Ranganath)
ACC (WSU)
Source: www.epfindia.gov.in