EPFO announces 60 days bonus to its eligible employees for FY 2023-24
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There is a big good news for the employees associated with the Employee Provident Fund Organization before Diwali. EPFO has announced to give bonus to its employees.
This bonus will be equal to 2 months’ salary. The organization said in a statement that Group C and Group B employees working with the Employee Provident Fund Organization will be given an advance payment of Rs 13,816 as Productivity Linked Bonus (PLB). Let us tell you that in the month of September, the Union Cabinet had approved to give Productivity Linked Bonus (PLB) to railway employees.
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These employees will not get the benefit of bonus
Productivity Linked Bonus (PLB) will not be paid to employees who have already taken retirement from the Public Provident Fund Organization (EPFO). Also, casual/contract/extra departmental employees are not eligible for the bonus.
These people will get bonus
According to a circular issued by EPFO regarding this bonus, “Terms and conditions for advance payment of productivity linked bonus to the employees of the Employees’ Provident Fund Organization for the year 2023-24.”
1. 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 a proportionate basis, and have also worked on the last day of March of the financial year 2023-24.
2 Employees who have been in service for less than a year will also get the bonus. However, they must have served for at least 6 months in the financial year 2023-24.
3. Employees who get a salary of more than seven thousand rupees per month are also entitled to get bonus.
4. In the financial year 2023-24, 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.
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