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Sunday, October 13, 2013

EPFO: 60 Days Pl Bonus Order issued

Declaration of Productivity Linked Bonus (P.L.B.) for the year 2012-2013.


Emplouees'Provident Fund Organisation
(Ministry of Labour & Employment, Govt, Of India)
Bhavishya Nidhi Bhawan, 14-Bhikaiji Cama Place, New Delhi - 110066

NO.WSU/12(1)/2012-13/PLB/13048
Date : 09.10.2013
To
All Regional P.F.Commissioners
In-Charge of the ROs/SROs
Regional P.F,Commissioner-I (ASD), Head Office

Sub: Declaration of Productivity Linked Bonus (P.L.B.) for the year 2012-2013.

Sir,

The Central Government, under section 5D(7) of the Employees'Provident Funds & Miscellaneous provisions Act, 1952 has conveyed its approval to the extension of the existing productivity Linked Bonus Scheme 1998-2004 (Revised) for the year 2012-2013 vide their letter No A-26022/1/1994-ss.1 dated 07th October 2013.

2. Accordingly, the Central Provident Fund Commissioner is pleased to approve the payment of the productivity LinkedBonus for the year 2012-2013 for 60(sixth) days in all the offices of EPFO. The bonus of 60 days has been assessed on the basis of performance Report forwarded by the field offices in compliance to Head Office lette dated 09-09-2013.  The payment of bonus is to be released before Puja Festival, to all Group C,D and Group B (Non-Gazetted) employees.

3. The terms and conditions governing payment of P.L.B. will be as per the instructions issued by the Government of India for payment of the bonus to the employees in Central Government departments form time to time. However, the quantum of bonus may be assessed as per the following formula circulated vide Govt. of India, Ministry of Finance O.M. No.14(1) E.Co-ord.I/2004 dated 30-9-2004.

= (AVERAGE EMOLUMENTS) X (NUMBER OF DAYS OR BONUS)
              30.4 X (AVERAGE NUMBER OF DAYS IN A MONTH)

4. The maximum amount of bonus will be restricted to the amount admissible to those drawing emoluments of Rs.3,500/- per month. The bonus in respect of the employees drawing emoluments of more than Rs.3,500/- per month will be calculated as if the emoluments were Rs.3.,500/- per month.

5. The term emoluments occurring in these orders will include Basic pay, personal pay, Special pay, Deputation (Duty) Allowance and Dearness Allowance, but will not include other Allowances, such as HRA, CCA Special Compensatory (Remote locality) Allowance, Bad Climate Allowance, Children Education Allowance and Interim Relief etc.

6. The expenditure incurred for payment of bonus may please be debited from the budget head productivity Linked Bonus.

Yours faithfully,

 sd/-
(Sanjay Kumar)
Financial Advisor & Chief Accounts Officer


Sourchhttp://www.epfindia.com/Circulars/Y2013-14/WSU_PLB_13048.pdf


Emplouees'Provident Fund Organisation
(Ministry of Labour & Employment, Govt, Of India)
Bhavishya Nidhi Bhawan, 14-Bhikaiji Cama Place, New Delhi - 110066

NO.WSU/12(1)/2012-13/PLB/13060
Date : 09.10.2013
To
All Regional P.F.Commissioners
In-Charge of the ROs/SROs
Regional P.F,Commissioner-I (ASD), Head Office

Sub: Declaration of Productivity Linked Bonus (P.L.B.) for the year 2012-2013- corrigendum.

Ref: Head Office circular No.wsU/12(1)/2012-13/PLB/13048 dated 09-10-2013

Sir,

Please refer to the Circular on the subject mentioned above.

2. In para 3 of the said circular, formula for calculating quantum of PL Bonus has been erroneously mentioned as

= (AVERAGE EMOLUMENTS) X (NUMBER OF DAYS OR BONUS)
              30.4 X (AVERAGE NUMBER OF DAYS IN A MONTH)


3. The correct formula for calculating quantum of PL Bonus is to be read as:

= (AVERAGE EMOLUMENTS) X (NUMBER OF DAYS OR BONUS)
                                           30.4 *

(* Average number of days in a month)

4. Inconvenience caused in the matter is regretted.

yours faithfully,

sd/-
(sanjay Kumar)
Financial Advisor & Chief Accounts Officer




   

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