The Employees’ State Insurance Corporation (ESIC) has announced the payment of an advance against the Productivity Linked Bonus (PLB) for eligible Group ‘C’ employees for the financial year 2023-24. This initiative, aimed at boosting morale and productivity, will benefit a significant number of ESIC workers.
Payment Details
- Advance Payment: The approved PLB advance is equivalent to 60 days’ wages, with a maximum limit of Rs. 13,816.
- Eligible Employees: All Group ‘C’ employees, both temporary and permanent, are eligible. However, employees who have retired or resigned during the financial year 2023-24 are not eligible.
- Calculation: The advance is based on either the average monthly emoluments or a calculation ceiling, whichever is lower. For employees earning over Rs. 7,000 monthly, the PLB advance for 30 days would be Rs. 6,908, and for 60 days, the total advance would be Rs. 13,816.
Eligibility Criteria
- Regular Employees: All Group ‘C’ employees who served throughout the financial year 2023-24 are eligible for the full advance.
- Proportional Payment: Employees with at least six months of service during 2023-24 will receive the bonus on a pro-rata basis.
- Wage Limit: Employees earning more than Rs. 7,000 per month will receive the PLB at the rate applicable to those earning Rs. 7,000.
- Leave Conditions: Employees on extraordinary leave (EOL) or half-pay leave (HPL) in March 2024 will receive the bonus based on their regular pay and allowances.
Conditions for Payment
To receive the PLB advance, Employees must submit an undertaking confirming that the advance will be adjusted against the final PLB for 2023-24. Any excess payment will need to be promptly refunded to ensure accurate management of funds.
Payment Process and Oversight
- Disbursing Officers: The Drawing and Disbursing Officers (DDOs) at regional and sub-regional offices are responsible for processing the payments, which will be disbursed by October 21, 2024.
- Supervision: Joint Directors and Deputy Directors of Finance will oversee the transactions to ensure compliance across all regions.
Communication and Next Steps
The Assistant Director has communicated the details of the PLB advance to relevant officials, including regional directors, medical superintendents, and heads of ESIC medical institutions. The memorandum has been made available on the official ESIC website to keep employees informed.
Conclusion
Eligible employees should expect their PLB advance payment by the stipulated date. Any discrepancies in the payment process should be reported to their respective offices for prompt resolution. This timely advance payment is intended to provide financial relief ahead of the festive season, enhancing employee well-being and job satisfaction.
This move by ESIC underscores its commitment to recognizing the hard work of Group ‘C’ employees and ensuring continued productivity. Employees are encouraged to complete the necessary formalities and reach out to their offices for any clarifications.
