• ABOUT
  • CONTACT
  • TEAM
  • TERMS & CONDITIONS
  • GUEST POSTS
Sunday, May 18, 2025
  • Login
Economy India
No Result
View All Result
  • Home
  • Economy
  • Business
  • Companies
  • Finance
  • People
  • More
    • Insurance
    • Interview
    • Featured
    • Health
    • Technology
    • Entrepreneurship
    • Opinion
    • CSR
    • Stories
  • Home
  • Economy
  • Business
  • Companies
  • Finance
  • People
  • More
    • Insurance
    • Interview
    • Featured
    • Health
    • Technology
    • Entrepreneurship
    • Opinion
    • CSR
    • Stories
No Result
View All Result
Economy India
No Result
View All Result
Home Finance

Government Sanctions ad hoc bonus to Employees for FY21

by Economy India
October 19, 2021
Reading Time: 2 mins read
FEATURED IMAGE ECONOMY INDIA 1 1
0
SHARES
0
VIEWS
Share on FacebookShare on XShare on Linkedin

The calculation ceiling for payment of this bonus would be monthly emoluments of Rs 7,000.

The government has sanctioned non-productivity linked or ad hoc bonus for central government employees for the fiscal year 2020-21.

In an office memorandum, the Department of Expenditure under the Finance Ministry said the employees of central paramilitary forces and armed forces too would be eligible for the bonus.

Employees who were in service as of March 31, 2021, and have rendered at least six months of continuous service during 2020-21 fiscal year would be eligible for this ad hoc bonus.

Productivity-Linked Bonus Scheme

It has been reported that the non-productivity linked bonus (ad hoc bonus) would be paid to the central government employees in Group C and all non-gazetted employees in Group B, who are not covered by any productivity-linked bonus scheme.

The calculation ceiling for payment of this bonus would be monthly emoluments of Rs 7,000.

“The quantum of ad hoc bonus will be worked out on the basis of average emoluments/calculation ceiling whichever is lower,” the Department of Expenditure said.

Monthly Emoluments

Giving an illustration, the memorandum said given the calculation ceiling of monthly emoluments of Rs 7,000 (where actual average emoluments exceed Rs 7,000), the non-productivity linked bonus or ad-hoc bonus for 30 days would work out to be Rs 6,908, the report said.

It also clarified that in case of employees who resigned, retired from service or expired before March 31, 2021.

The ad hoc bonus would be paid only to those who superannuated or retired on medical grounds or died before March 31, 2021, but after completing at least six months regular service during the year. (Zee News)

Tags: Ad Hoc BonusBusiness Updates on Indian EconomyCurrent Updates of Indian EconomyEconomic Development of IndiaEconomy IndiaEconomy India UpdatesEconomy NewsEconomy News of IndiaEconomy News Portal of IndiaEconomy News UpdatesEconomy Updates from IndiaEmployees for FY21Finance MinistryGovernment SanctionsIndia EconomicIndian EconomyIndian Economy OutlookIndian Economy UpdatesLatest Development on Indian EconomyLatest Updates on Indian EconomyNews Around Economy of IndiaNews on Indian EconomyNews on World of Indian EconomyOverview of Indian EconomyRecent Development in Indian Economy
Economy India

Economy India

Economy India is one of the largest media on the Indian economy. It provides updates on economy, business and corporates and allied affairs of the Indian economy. It features news, views, interviews, articles on various subject matters related to the economy and business world.

Next Post
FEATURED IMAGE ECONOMY INDIA 1 1

NE to be developed as India’s Bio-Economic, says Jitendra Singh

Popular News

  • Innovation and Startup Funding Essential for Developed India: ASSOCHAM

    Innovation and Startup Funding Essential for Developed India: ASSOCHAM

    0 shares
    Share 0 Tweet 0
  • No Charges for Updating Nominee Details in PPF Accounts: Finance Minister Nirmala Sitharaman

    0 shares
    Share 0 Tweet 0
  • Startup Mahakumbh 2025: Piyush Goyal to Inaugurate India’s Biggest Startup Fest

    0 shares
    Share 0 Tweet 0
  • PM Narendra Modi Embarks on Official Visits to Thailand and Sri Lanka to Strengthen Regional Ties

    0 shares
    Share 0 Tweet 0
  • India Poised to Strengthen Global Trade and Manufacturing Amid US Tariff Shifts

    0 shares
    Share 0 Tweet 0
  • ABOUT
  • CONTACT
  • TEAM
  • TERMS & CONDITIONS
  • GUEST POSTS

Copyright © 2024 - Economy India | All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Economy
  • Business
  • Companies
  • Finance
  • People
  • More
    • Insurance
    • Interview
    • Featured
    • Health
    • Technology
    • Entrepreneurship
    • Opinion
    • CSR
    • Stories

Copyright © 2024 - Economy India | All Rights Reserved