Productivity Linked Bonus admissible for the employees of ESI Corporation 2016-17 | Labour Law News

Productivity Linked Bonus admissible for the employees of ESI Corporation 2016-17

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ESIC – Productivity Linked Bonus admissible for the employees of ESI Corporation 2016-17

ESIC issued Memorandum vide No.G-31/11/1/2018-E.II dated: 03.12.2018 regarding Productivity Linked Bonus admissible for the employees of ESI Corporation 2016-17 and with Ref.: This branch OM No. G-31/11/1/2015-E.III dated 22.09.2017 and details as follows.

Consequent upon the approval accorded by the Ministry of Labour & Employment vide their letter No.A-26022/01/2018-SS.I dated 29.10.2018, approval of the Competent Authority is hereby communicated for the payment of Productivity Linked Bonus (PLB) equal to 60 (sixty) days’ wages subject to the maximum of Rs. 14,000/-(Rupees fourteen thousand only) to the employees of the Corporation for the year 2016-17 as worked out on the basis of the existing scheme of Productivity Linked Bonus.

Accordingly, the advance already paid to the employees based on this branch OM under reference may be adjusted and recovery is not to be effected and the undertaking be treated as null and void.

However, in case of employees, who are eligible and who have not been paid the advance (to those employees who superannuated during the financial year 2016-17 and who fulfills the eligibility conditions of six months of service during the financial year 2016-17 and eligible for PLB), action may be initiated for the payment of productivity Linked Bonus (PLB) equal to 60 (Sixty) days’ wages subject to the maximum of Rs. 14,000/- (Rupees Fourteen thousand only) for the year 2016-17 as worked out on the basis of the existing scheme of Productivity Linked Bonus.

The other terms and conditions governing the PLB shall remain the same.

Source: ESIC

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