Productivity Linked Bonus (PLB) equivalent 60 Days to EPFO Employees for the year 2019-2020
The Employees’ Provident Fund Organisation (EPFO) has announced that their employees will receive a Productivity Linked Bonus (PLB) equivalent to 60 days’ worth of salary for the fiscal year of 2019-2020. This bonus is being given to recognize the hard work and dedication displayed by the employees in achieving the organization’s goals. The PLB will be a great source of motivation for the employees and will help in improving their overall work performance.
Employees’ Provident Fund Organisation
(Ministry of Labour & Employment, Govt. Of India)
Head Office
Bhavishya Nidhi Bhawan, 14-Bhikaiji Cama Place, New Delhi-1 10066
No. WSU/25(1)/2018-19/PLB
Date: 22.10.2020
All Addl. CPFC (Zones),
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 2019-2020.
Sir/Madam,
The Central Government has conveyed its approval to the existing Productivity Linked Bonus Scheme for the year 2019-2020 for the employees of EPFO vide letter No A- 26022/1/94-SS-1 (Pt) dated 22nd October 2020.
2. Accordingly, the competent authority is pleased to convey the approval for payment of the Productivity Linked Bonus for the year 2019-2020 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 to Head Office letter dated 07.10.2020. The payment of bonus is to be released to all Group ‘C’ and Group ‘B’ (Non-Gazetted) employees of EPFO.
3. 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)
4. The expenditure incurred for payment of bonus may be debited from the budget head “Productivity Linked Bonus.” It may be ensured that Bonus is disbursed as per eligibility.
5. This has approval of Central P.F. Commissioner.
Yours faithfully,
sd/-
(Rajiv Bisht)
ACC (WSU) /Link
The 60 Days PLB (Productivity-Linked Bonus) Bonus is an incentive given to the Employees’ Provident Fund Organisation (EPFO) employees in recognition of their productivity and contribution towards the organisation.
All regular employees of the EPFO who have completed at least six months of service and meet the eligibility criteria are eligible for the 60 Days PLB Bonus.
The bonus amount for EPFO Employees is based on the employee’s salary and productivity, and it is calculated as per the agreed-upon formula.
The bonus amount for EPFO Employees 2020 will be disbursed in one installment in the month of October.
Yes, the bonus amount is taxable under the Income Tax Act, 1961.
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