After Railways, now there is good news for Employees Provident Fund Organization (EPFO) employees. In fact, before Diwali, EPFO has also announced to give bonus to its employees. EPFO has approved advance payment of Rs 13,816 as Productivity Linked Bonus (PLB) to eligible Group C and Group B (Non-Gazetted) employees for the financial year 2023-24. This advance payment is to provide financial assistance on special occasions. This bonus received by EPFO employees before Diwali will be almost equal to their 60 days i.e. 2 months salary.
Through a circular issued on October 8 this month, EPFO has said that it has been decided that the eligible Group C and Group B (Non-Gazetted) employees working with the Employees Provident Fund Organization for the financial year 2023-24. Advance bonus will be given in the form of Productivity Linked Bonus (PLB). In the recently issued circular it has been said that the competent authority of EPFO has taken this decision of advance payment. After this decision, before Diwali, EPFO will get advance payment of Rs 13,816 in the form of Productivity Linked Bonus (PLB) to eligible Group C and Group B employees. Earlier in September 2024, the Union Cabinet had given approval to give Productivity Linked Bonus (PLB) to railway employees before Diwali.
These EPFO employees will get advance
Through a recently issued circular, EPFO has said to give advance payment in the form of Productivity Linked Bonus to eligible Employees Provident Fund Organization employees for the financial year 2023-24. Who are eligible for this, read the details here.
All regular employees of Group C and Group B (non-gazetted) will get the benefit of this bonus. Provided that those employees are in service on proportionate basis, and have also worked on the last day of March of the financial year 2023-24.
EPFO employees who have been in service for less than one year will also get the bonus. However, he must have served for at least 6 months in the financial year 2023-24.
EPFO employees earning more than Rs 7,000 per month are also eligible to get the bonus.
In the financial year 2023-24, the employees who will be on extraordinary or half pay leave in the month of March will be paid PLB on the basis of salary and allowances.
EPFO employees will have to do this work for advance
EPFO has said through a recently issued circular that every eligible employee will have to submit a signed undertaking. In the EPFO circular issued on October 8, it was said that it will be written on the undertaking that this advance payment will be adjusted in the form of PLB for the financial year 2023-24 and any additional payment made under PLB will be immediately refunded. Will go. Advance payment will be subject to the same terms and conditions as are applicable to PLB grants. The details of the total number of employees receiving this advance and the amount distributed will have to be reported to the office. The cost of these advances will be taken from the “Productivity Linked Bonus” budget.
These employees will not be eligible for bonus.
This advance will not be given to those eligible employees who have already retired from EPFO. Additionally, casual/contract/additional departmental employees are also not eligible for this advance bonus.
