Diwali Bonus for Central Government Employees: Great news for Central Government employees! The government has announced a Diwali bonus, adding to the festive cheer. The Department of Expenditure, part of the Ministry of Finance, approved a non-productivity linked bonus for the financial year 2023-24. This bonus, also known as an ad-hoc bonus, equates to 30 days’ salary for eligible employees.
Who Qualifies for the Bonus?
Eligible employees include non-gazetted staff in Group ‘C’ and Group ‘B’ who aren’t part of any productivity-linked bonus scheme. The government has set a maximum monthly salary of ₹7,000 for calculating this bonus.
Additionally, Central Paramilitary Forces and Armed Forces personnel will also receive this bonus. Union Territory employees following the government’s salary structure are included too. To qualify, employees must be in service by March 31, 2024, and should have completed at least six months of continuous service within the year. If someone has worked for less than a year, they will receive a proportional bonus based on their months of service.
How is the Bonus Calculated?
Calculating the bonus is straightforward. Take the average monthly salary, divide it by 30.4, and then multiply by 30 days. For instance, if an employee’s monthly salary is ₹7,000, their bonus would be approximately ₹6,908.
Casual laborers who have worked a minimum of 240 days over three consecutive years can also qualify. Their bonus will be calculated based on ₹1,200 per month.
In addition to the bonus, central government employees are eagerly awaiting an increase in the dearness allowance. The Himachal Pradesh government recently announced a 4% increase for its 1.80 lakh employees, adding to the festive spirit as salaries and pensions are expected to be disbursed early.