Assessment of Productivity Linked Bonus for the year 2017-18 for EPF Employees | Labour Law News

Assessment of Productivity Linked Bonus for the year 2017-18 for EPF Employees

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Assessment and timely declaration of Productivity Linked Bonus for the year 2017-18 for EPF Employees

Assessment of Productivity Linked Bonus for the year 2017-18 for EPF Employees

EPFO issued circular vide No: WSU/25(1)/2017-18/PLB/8263 dated 25th September 2018 regarding Forwarding of details required for assessment and timely declaration of Productivity Linked Bonus for the year 2017-18 and details as follows.

1.The work relating to the assessment of Productivity Linked Bonus for the year 2017-18 has been taken up. The Productive Linked Bonus (PLB) for the employees of EPFO is assessed on the basis of the productivity achieved and manpower used in respect of field offices separately. For Head Office (including PDUNASS), it is worked out based on average of All India Productivity and Manpower. Information relating to parameters and performance as per the Scheme is to be furnished in the Annexure A to C (copies enclosed).

ACCOUNTS & CASH

2.During the year 2016-17, time-limit of 20 days (calendar days) has been notified for

settlement of PF, EPS & EDLI claims, transfer including advances cases. In case, the job is not completed within 20 days, weightage would be reduced for the work done beyond 20 days. Date of receipt of claim form (complete in all respects) and the date of despatch of cheque/transfer through NEFT would be taken into account for reckoning 20 calendar days.

3.As regards issue of “Annual Statement of Accounts”, it has been classified into two

groups, Viz. (1) current year’s Accounts slips issued and (2) Previous year’s Accounts slips issued during the current year. Accounts slips relating to the “current Year” and those pertaining to previous years but issued during the current year should be shown separately.

ENFORCEMENT & DAMAGES

4.The activities of ‘Enforcement & Damages” include:

(1)          No. of 7A notices issued.

(2)          No. of Speaking Orders of 7A passed and compliance effected.

(3)          No. of Speaking Orders passed for Levy of Damages,

(4)          No. of Recovery Certificates Executed:-

(a)          For default in all the five Accounts (A/c No. 1,2,10,21 & 22)

(b)          For default in 3 or 4 of the five Accounts.

(c)           For default in 1 or 2 of the five Accounts.

To download detail notification click below

Assesment-of-Productivity-Linked-Insurance.pdf (10 downloads)

Source: EPFO

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