The Ministry of Finance has approved the payment of performance-based bonuses to employees of commercial corporations, statutory boards and government-owned companies for the year 2025.
Finance Ministry Secretary Harshana Suriyapperuma has issued the relevant circular outlining the approved bonus payment scheme and eligibility criteria.
According to the circular, employees of institutions that recorded profits during the 2024 financial year and contributed at least 30% of their profit after tax to the Consolidated Fund as a dividend or levy will be paid a Rs. 30,000 bonus. The same amount will also be paid to employees of commercial corporations, statutory boards and government-owned companies that do not provide incentives based on attendance, performance or any other criteria, except where such incentives are paid under schemes approved by the Cabinet and the Treasury.
A Rs. 25,000 bonus will be paid to employees of institutions that earned profits in 2024 but contributed less than 30% of profit after tax to the Consolidated Fund, as well as to employees of entities that do not make any form of incentive payments.
The circular states that Boards of Directors of the respective institutions are empowered to reduce the bonus amount if it is determined that such payments could adversely affect the future financial or operational stability of the institution.
It has also been clarified that Treasury funds will not be used to finance these bonus payments.
The circular will not apply to institutions that pay salaries or allowances under collective agreements or similar memoranda of understanding.
