The Union Government is likely to announce an important bonus package ahead of the festive season in what the latest developments would benefit large numbers of Central Government employees and pensioners. This, in the process, would recognize the contributions of employees and would provide financial relief setting aside the inflation and changing living costs.
What The Bonus Announcement Will Speak In
According to sources, it is quite likely that the government will soon announce the Productivity Linked Bonus (PLB) and Ad-hoc Non-Productivity Linked Bonus for eligible employees. They usually get announced before a big festival like Diwali as a goodwill gesture as well as an incentive for government employees. Pensioners may also be given a special bonus or ex-gratia payment to help with their post-retirement expenses.
Eligibility Criteria
The bonus is expected to assist:
- Central Government employees of Group C and Group B (non-gazetted).
- Employees of departmental organizations like Railways, Postal, and Defence Production units.
- Pensioners who were eligible for PLB during their period of service may receive a one-time bonus amount.
Those who qualified for the bonus would be those whose period of service exceeds at least six months during the previous financial year.
Amount Of Bonus Anticipated
Though the official notification will finalize the figures, it has been heard that the bonus might be worth 30 days’ basic pay or ₹7,000 per month, whichever is less, as in the previous years. Although the lump sum amount would be a maximum of ₹6,908 (based on 30 days) as a bonus for eligible staff, for pensioners it would be that much, depending upon their last drawn salary and service record.
Timing And Effect
The announcement for the bonus may be made in the midst of the festive season in the latter half of the year. This bonus is over and above other financial-related benefits that may be expected, such as the 3% DA hike and some implementation of the recommendations of the 8th CPC.
This measure would provide liquidity support for the economy and make consumer sentiment buoyant. The bonus shall, therefore, directly assist employees and pensioners financially in meeting their immediate personal needs and festival-related expenditure, travel, and related activities.
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