Circulars issued on payment of bonuses to public sector employees

Two circulars have been issued in relation to the payment of bonuses to the staff of Commercial Corporations, Statutory Boards and Government-owned Companies for the year 2022.

Accordingly, a bonus of Rs. 25, 000 has been proposed for Commercial Corporations, Statutory Boards and state-owned companies which have turned profits during the financial year 2021, but did not pay any incentives based on attendance, performance or any other form of incentives and Rs. 20, 000 for those who were paid incentives based on the aforesaid criteria.

Meanwhile, the employees of Commercial Corporations, Statutory Boards and Government owned Companies which have recorded a loss in the financial year 2021, are not entitled to a bonus based on the institution’s profitability, according to the circulars.