On October 28, 2024, the Finance Department of Puducherry issued a notification regarding the payment of productivity bonuses to employees of public sector undertakings (PSUs) and autonomous bodies for the accounting year 2023-24.
Key Points from the Notification:
- Eligibility for Payment: PSUs and autonomous bodies with sufficient funds are permitted to grant productivity-linked bonuses along with ex-gratia to their employees for the year 2023-24.
- Approval Requirement: The payment of these bonuses is subject to the approval of the competent authority.
- Bonus Limit: The total amount granted for productivity-linked bonuses and ex-gratia should not exceed the amount paid in the previous year.
This notification ensures that eligible employees in PSUs and autonomous bodies are rewarded for their productivity, provided the organizations have the necessary funds and obtain approval from the relevant authorities.
