Advance Payment of Productivity Linked Bonus for Group C and B EPFO Employees for 2023-24

The Employees’ Provident Fund Organization (EPFO) has announced an advance payment of the Productivity Linked Bonus (PLB) for the year 2023-24 to eligible employees. This bonus is aimed at rewarding the Group C and Group B (Non-Gazetted) employees for their dedication and service throughout the year.

Advance Against Productivity Linked Bonus

The Competent Authority has decided to grant an advance against the Productivity Linked Bonus for Group C and Group B (Non-Gazetted) employees of the EPFO. The bonus is calculated based on 60 days’ wages, amounting to ₹ 13,816 (Rupees Thirteen Thousand Eight Hundred Sixteen Only). The payment is specifically for serving employees of Group C and Group B, and is set to be disbursed before October 11, 2024.

Eligibility and Conditions

To be eligible for this advance, employees must meet certain criteria:

• Regular Employees Only: All regular employees of Group C and Group B, whether temporary or permanent, are eligible for the advance, provided they were in service during the financial year 2023-24 on a pro-rata basis and on the last day of March 2024.
• Minimum Service Requirement: Employees who have served for less than one year will be eligible on a proportionate basis, provided they were in service for at least six months during the financial year.
• Salary Cap: Employees drawing monthly wages above ₹ 7,000 will receive the advance at the same rate as those drawing wages of ₹ 7,000 or below.
• Leave Conditions: Employees on extraordinary leave (EOL) or half-pay leave (HPL) during March will receive the advance based on the pay they would have received, had they not been on leave.

It is important to note that casual, contract, or extra-departmental employees are not eligible for this bonus. Additionally, the advance is not admissible to employees who have already retired from the services of EPFO.

Undertaking Requirement

Each eligible employee must provide an undertaking stating that:

1. The advance amount will be adjusted against the PLB due for the year 2023-24.
2. Any excess payment made towards the PLB will be refunded promptly.

A proforma for the undertaking has been provided, which must be signed and submitted by eligible employees before the disbursement.

Financial Implications

The expenditure for this advance will be debited from the budget head “Productivity Linked Bonus.” The payment must be made before October 11, 2024, and the details of the number of employees receiving the advance and the amount disbursed should be communicated to the head office.

Important Dates and Instructions

• Advance Payment Deadline: October 11, 2024
• Undertaking Submission: Required before payment

The Addl. CPFC (WSU/Finance), Vipin Kumar Sharma, issued the circular with approval from the CPFC. All regional offices and zones are directed to take prompt action to ensure timely payment.

Terms and Conditions

The terms and conditions for the payment of the PLB advance are aligned with the usual PLB terms applicable to EPFO employees. The bonus is meant to motivate and reward employees for their efforts, contributing to the efficiency and productivity of the organization.