The Employee Provident Fund Organisation (EPFO) has issued a notification regarding the declaration of Productivity Linked Bonus (PLB) for the employees of the EPFO. This notification was issued on 25th January, 2023.
The Central Government has approved the payment of the PLB for the year 2021-22 for 60 (Sixty) days in all the offices of EPFO. This is subject to a maximum of Rs. 13,816 .
The bonus of 60 days has been assessed on the basis of data/ information submitted by the Zonal Offices in compliance with the Head Office letter dated 12th August, 2022
The quantum of the 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)