EPFO bonus Alert! BIG Diwali bonanza for employees! Money in the bank ahead of fest
EPFO bonus: The Employees Provident Fund Organisation or EPFO has given a big bonanza to its employees on this Diwali 2019.
EPFO bonus: The Employees Provident Fund Organisation or EPFO has given big bonanza to its employees on this Diwali 2019. The EPFO has decided to give 60 days bonus to all Group B and Group C EPFO employees and make their Diwali 2019 full of lights and aspirations. A circular in this regard by the Ministry of Labour has already been issued. As per the circular, all Group B and Group C employees of the EPFO will get 60 days bonus under the Productivity Linked Bonus Scheme for the financial year 2018-19.
According to the Ministry of Labour circular order, the Group B and Group C employees of the EPFO will get 30.4 days. In the monetary perspective, the EPFO employees will get around Rs 14,000. However, it's calculation will be different for different category employees.
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Speaking on the Productivity Linked Bonus Scheme for EPFO employees RK Verma, Convenor at State Employees Joint Council said, "Calculation of the EPFO bonus is the same as it in case of other government employees except for the number of days. He said that the formula for deciding the bonus of EPFO employees is (Average Emoluments X Number of days)/30.4."
RK Verma further said that only 25 per cent of the Productivity Linked Bonus will be credited into the EPFO employee's salary account. Rest 75 per cent will be deposited into the PF account of EPFO employees.
Uttar Pradesh government employees will also get this Productivity Linked Bonus Scheme benefit and they will also get Rs 7,000 bonus ahead of the festivals. Around 8 lakh Non-Gazetted employees of the UP Government will get this Productivity Linked Bonus Scheme.
NOTE: Zee Business brings to you an exclusive line up of programming for Diwali 2019 with experts, insights & sharp acumen under Zee Business Damdar Diwali show. A Diwali treat for you! Starting soon from October 14 only on ZeeBusiness.in.
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