Payment of advance against the Productivity Linked Bonus for EPFO Employees 2023

Advance Payment for EPFO Employees’ 2022-23 Bonus

The advance payment of the Productivity Linked Bonus for EPFO Employees for the year 2022-23 has been authorized, providing financial support and recognition for their hard work and dedication. This bonus, based on productivity levels, serves as a valuable incentive to motivate and reward employees, encouraging them to continue their excellent performance. The payment of this bonus demonstrates the commitment of the organization to prioritize the welfare and satisfaction of its workforce, contributing to a positive work environment and fostering a sense of loyalty and commitment among employees.

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

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)

Terms and conditions for payment of advance against Productivity Linked Bonus to the employees of the Employees’ Provident Fund Organization for the year 2022-23

1. All regular employees of Group ‘C’ and Group “B” (Non gazetted) whether temporary or permanent shall be eligible for the advance against Productivity Linked Bonus provided they were in service on pro rata basis, and also on the last day in March of the relevant financial year i.e. 2022-23. Casual/contract/extra departmental employees shall not be eligible for any Bonus.

2. The employees who were in service for less than one year during the relevant financial year shall be allowed the advance against PLB on proportionate basis, provided they were in service for at least six months during the financial year 2022-23.

3. The employees drawing monthly wages of more than Rs. 7,000/- shall been titled to the advance against PLB at the rate admissible to those drawing wages of RS. 7,000/- per month.

4. The employees who happen to be on extraordinary or half pay leave during the month of March will be paid the advance against PLB based on the payand allowances that would have been payable but for their being on EOL, HPL etc.

UNDERTAKING

I, Shri/Smt./Ms. _____________________ (Name) , ____________________ (Designation)

do hereby undertake as under:–

1. That I understand that the advance against the PLB due and admissible to me for the year 2022-23, equal to 60 days wages (subject to the maximum of Rs.14000/-) has been provisionally sanctioned and being paid to me.

2. The said advance will be adjusted against the PLB due and admissible to me for the year 2022-23 and any excess payment detected at a later stage, on any account, shall be refunded by me forthwith.

Signature ________________
Name ___________________
Designation _______________

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Advance Payment for EPFO Employees’ 2022-23 Bonus

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