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Employees Provident Fund Organization (EPFO) has made a key decision as part of the process to support the employees working in their organization.
Eligible Group-C, and Group-B (Non-Gazetted) employees have decided to pay advance payment of Production Based Bonus (PLB) for the financial year 2023-24.
It is stated that these advance bonus payments are being made to provide financial assistance to the employees during the festive season. A total of 60 days' salary will be paid to the employees in the form of a bonus.

Details
In each account Rs. 13,816
The EPFO ​​said that currently 60 60-day bonus will be paid in advance of the productivity-linked bonus due for the financial year 2023-24 to the eligible Group C and Group B employees.
Due to this, in the account of each person Rs. 13,816 will be paid up to Rs. Relevant orders have been issued to this effect.
However, the eligible staff are directed to submit a signed undertaking to adjust this advance against their PLB, indicating that the additional bonus money will be repaid immediately if credited to the account.
It has been clarified that this advance does not apply to those who have already retired from EPFO.

Details
These advance payments are from the productivity-linked bonus budget
The concerned authorities have been directed to complete these advance payments by October 11, 2024.
It has been clarified that the full details of how many employees and how much money has been distributed should be provided.
He said that these advance payments would be from the productivity-linked bonus budget.
It is stated that advance payment shall comply with the supplementary terms and conditions applicable to the grant of a production-based bonus.
With this decision, funds will be credited to the accounts of EPFO ​​Grade C and Grade B non-gazetted employees by October 11, 2024.
During Dussehra, the employees are happy as the money gets deposited in the account.