THESE central govt employees to receive 40-day bonus for FY 2023-24: Full details of the scheme, bonus calculation

Eligible defence civilian employees of the Army Ordnance Corps (AOC) and Indian Army will receive productivity-linked bonus (PLB) equivalent to 40 days of their wages for the financial year 2023-2024, according to a notification issued by the Ministry of Defence.

The ministry has announced the sanction of the President for the payment of the PLB to these civilian employees of the AOC and Indian Army.

Details of the PLB Payment

Eligible employees will receive a bonus equivalent to 40 days of their wages for the financial year 2023-2024. This has been calculated based on the working results for the year, as per the agreed formula under the PLB scheme.

Also Read Government purchases 121 LT paddy from Punjab, 65% of target met Air India Express expands network with focus on Tier 2 and Tier 3 cities, set to have over 110 planes by March 25 Centre doubles penalties for stubble burning as air quality in Delhi plummets Maharashtra Elections 2024: MVA’s poll manifesto promises Rs 3,000 monthly allowance for women, caste census and more

The bonus will be paid to all eligible Group B (Non-Gazetted) and Group C civilian employees of the AOC and Indian Army who are covered under the PLB Scheme for the accounting year 2023-2024.

Also read: 5th Pay Commission: DA hiked by 12% to 455% for THESE central govt employees

Calculation Ceiling:

The calculation ceiling for the bonus will be Rs 7000. The formula used will be: 7000 × 40/30.4. This ceiling and other conditions under the PLB Scheme will remain the same.

Casual laborers will be eligible for a PLB payment based on assumed wages of Rs 1200 per month for the accounting year 2023-2024. If the actual wages of the casual laborer are lower than Rs 1200, the PLB will be calculated based on the actual monthly wages.

The expenditure for the PLB payment will be charged to the Defence Service Estimates under the respective Heads to which the employees’ pay and allowances are debited. This will be covered under the sanctioned budget for the financial year 2024-2025, with no additional financial allocation required.

 » Read More

Related Articles

E-commerce under fire; uncertified products seized in BIS raids on Amazon, Flipkart warehouse

The Bureau of Indian Standards (BIS) has conducted raids on warehouses operated by major e-commerce platforms, including Amazon and Flipkart, resulting in the seizure of thousands of uncertified consumer products, according to the consumer affairs ministry. Key seizures from Amazon and Flipkart  On March 7, BIS officials raided an Amazon warehouse in Lucknow, confiscating 215

Marcellus’ PMS AUM nosedives 64% since Oct ’22 – What went wrong?

Marcellus Investment Managers has seen its Portfolio Management Services (PMS) assets under management (AUM) decline sharply by 64% from Rs 12,704 crore in October 2022 to Rs 4,734 crore currently. The primary reason? Valuation missteps in stock selection, as acknowledged by the firm itself. In a post on social media platform X, Kanan Bahl, CA

Silver ETF AUM crosses Rs 13,500 cr in 3 years, says Zerodha Fund House

Since the Securities and Exchange Board of India (SEBI) permitted the launch of silver Exchange-Traded Funds (ETFs) in November 2021, these funds have witnessed remarkable growth. By January 2025, the total Assets Under Management (AUM) for silver ETFs surpassed Rs 13,500 crore, with over six lakh investor folios. As of that date, there are 12

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

0FansLike
0FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles

E-commerce under fire; uncertified products seized in BIS raids on Amazon, Flipkart warehouse

The Bureau of Indian Standards (BIS) has conducted raids on warehouses operated by major e-commerce platforms, including Amazon and Flipkart, resulting in the seizure of thousands of uncertified consumer products, according to the consumer affairs ministry. Key seizures from Amazon and Flipkart  On March 7, BIS officials raided an Amazon warehouse in Lucknow, confiscating 215

Marcellus’ PMS AUM nosedives 64% since Oct ’22 – What went wrong?

Marcellus Investment Managers has seen its Portfolio Management Services (PMS) assets under management (AUM) decline sharply by 64% from Rs 12,704 crore in October 2022 to Rs 4,734 crore currently. The primary reason? Valuation missteps in stock selection, as acknowledged by the firm itself. In a post on social media platform X, Kanan Bahl, CA

Silver ETF AUM crosses Rs 13,500 cr in 3 years, says Zerodha Fund House

Since the Securities and Exchange Board of India (SEBI) permitted the launch of silver Exchange-Traded Funds (ETFs) in November 2021, these funds have witnessed remarkable growth. By January 2025, the total Assets Under Management (AUM) for silver ETFs surpassed Rs 13,500 crore, with over six lakh investor folios. As of that date, there are 12

China plans to tie fund manager pay to performance – Lessons for India’s MF industry

The China Securities Regulatory Commission (CSRC) has suggested implementing salary reductions of up to 50% for fund managers whose investment products either incur losses or fail to meet benchmarks by 10% or more. This initiative, announced on March 14, 2025, is part of efforts to reform China’s $4.6 trillion mutual fund sector in light of

New NPS guidelines issued! Officials told to process like OPS – All you need to know

The Central Pension Accounting Office (CPAO) has issued new guidelines to ensure timely pension to retired employees of the National Pension System (NPS). In an Office Memorandum (OM) issued on March 12, 2025, the CPAO has reminded the concerned officials that NPS pension cases should be processed in the same manner as the Old Pension