Declaration of Productivity Linked Bonus (P.L.B.) for the employees of the EPFO for the year 2018-2019

Declaration of Productivity Linked Bonus (P.L.B.) for the employees of the EPFO for the year 2018-2019

EPFO BONUS 2019

Through Web Circulation Only

Employees’ Provident Fund Organisation
Bhavishya Nidhi Bhawan, 14-Bhikaiji Cama Place, New Delhi- 10066 www.epfindia.gov.in www.epfindia.nic.in

No. WSU/25( 1 )/20 18-19 /PLB/ 8098

Date: 09.10.2019

To
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 2018-2019.

Sir/Madam,

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.

Also read: Declaration of Productivity Linked Bonus (P.L.B.) for the employees of the EPFO for the year 2017-2018

2. 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 to Head Office letter dated 25.09.2019. The payment of bonus
is to be released to all Group ‘C’ and Group ‘B’ (Non-Gazetted) employees of EPFO.

3. The terms and conditions governing payment of P.L.B. will be as per the instructions and other terms & conditions issued by the Ministry of Finance O.M. No. 7/24/2007/E.III(A) dated 04.10.2019 for payment of bonus. 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.”

5. This has approval of Central P.F. Commissioner.

Also Check: EPFO – Finance Ministry has approved 8.65% rate of interest on Employees Provident Fund (EPF) for 2018-19

Yours faithfully,
(Sanjay Kumar)
ACC (WSU)

Source: EPFO

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