EPFO Bonus 2024 pdf

Employees Provident Fund Organisation
(MINISTRY OF LABOUR & EMPLOYMENT. GOVERNMENT OF INDIA)
Head Office
Plate A Ground Floor. Block II. East Kidwai Nagar. New Delhi-110023

No: WSU/E 886849/

Date: 08/Oct/2024

TO,

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 2023-24 – reg.

Sir/Madam,

It has been decided by the Competent Authority to grant an 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 2023-24.

2. Accordingly, an advance of Rs. 13,816 (Rs. Thirteen Tpaid and Eight Hundred sixteen Only) against the Productivity Linked Bonus equal to 60 (Sixty) days’ wages to the eligible serving Group C and Group B (Non-Gazetted) employees of Employees’ Provident Fund Organization for the year 2023-24, is to be paid.

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 2023-24 and any excess payment made towards PLB for the year 2023-24 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 amount of advance may be paid before 11/Oct/2024 under intimation to this office. The number of such employees and the amount disbursed may also be intimated.

5. The expenditure incurred for payment of this advance may be debited from the budget head “Productivity Linked Bonus.”

(This issues with the approval of CPFC)

Yours Sincerity,

Encl: As Above

(Vipin Kumar Sharma)
Addi. CPFC (WSU/ Finance)

Terms and conditions for payment of advance against 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) 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. 2023-24. 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 2023-24.

3. The employees drawing monthly wages of more than Rs. 7,000/- shall been entitled 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 pay and 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 2023-24, equal to 60 days’ wages (subject to the maximum of Rs.14000/-) has been provisionally sanctioned and being paid to me.

2. that the said advance will be adjusted against the PLB due and admissible to me for the year 2023-24 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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