7th Pay Commission Latest News Today: 60 Days Bonus for EPFO Employees
7th Pay Commission Latest News Today: Declaration of Productivity Linked Bonus for the employees of EPFO for the year 2018-19
Employees’ Provident Fund Organisation declared 60 Days Productivity Linked Bonus for the employees of the EPFO for the year 2018-2019 through official orders.
As per the order, the Central Government has conveyed its approval to the existing Productivity Linked Bonus Scheme for the year 2018-2019 for the employees of EPFO vide letter No A-26022/1/94-55-1 (Pt) dated 9th October 2019.
Accordingly, the competent authority is pleased to convey the approval for payment of the Productivity Linked Bonus for the year 2018-2019 for 60 (Sixty) days in all the offices of EPFO.
The bonus of 60 days has been assessed on the basis of data/information submitted by the Zonal Offices in compliance with Head Office letter dated 25.09.2019. The payment of a bonus is to be released to all Group ‘C’ and Group ‘B’ (Non-Gazetted) employees of EPFO.
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)
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