The PEPA or “Macron bonus” is back! It’s now called the : “La Prime de Partage de la Valeur” (PPV) and there are new tax and social security rules to follow.
While the legislative decree is yet to be issued, here are the initial contents of the draft :
Who can benefit ?
- Employees and agents of private employers and certain public institutions (EPICs and EPAs employing personnel under private law),
- Agency staff supplied to a company awarding the bonus to its employees,
- Disabled workers who have a “support and assistance through work” contract.
What is the maximum bonus ?
The amount can reach :
- 3 000€ per person, per year for all companies.
- 6 000€ per person, per year for companies with 50 or more employees that have implemented an incentivisation scheme (intéressement) in addition to the profit-sharing scheme (participation), as well as for other companies that have voluntarily implemented an incentivisation or profit-sharing scheme.

When can you receive it ?
The PPV can be paid as from 1 August 2022.
- PPVs paid between 1 August 2022 and 31 December 2023 will be exempt from income tax, the Generalised Social Security Contribution (CSG) and the Social Debt Repayment Contribution (CRDS). However, this only applies to employees who received remuneration of less than three times the minimum wage (i.e. €57,712.32 for full-time employees) during the 12 months preceding its payment.
- The PPV will be exempt from social contributions.
- The PPV will be subject to the forfait social (flat-rate social charge) in the same way as the incentivisation bonus (intéressement).
A company implements the bonus in 2023 for all employees, with no salary cap.
Tax and social security on the bonus paid in 2023 are as follows :
- For employees paid 3x minimum wage or more : the PPV is exempt from social contributions (up to the maximum bonus of €3,000 or €6,000), but subject to CSG/CRDS and income tax. If the company has 250 or more employees, it will also pay the forfait social (flat-rate social charge) on the exempt amount.
- For employees paid less than 3x minimum wage : the PPV is exempt from social contributions, CSG/CRDS and income tax (up to the maximum bonus of €3,000 or €6,000). The forfait social is not payable.The bonus paid in 2024 will be taxable and subject to CSG/CRDS
It will be exempt from social contributions up to the maximum bonus of €3,000 or €6,000. However, the forfait social may be payable, depending on the size of the workforce

(1) Employer’s and employee’s social security contributions of legal or contractual origin, training contribution, apprenticeship tax and construction contribution.
(2) Per person, per year. €6,000 for companies with an incentivisation agreement (intéressement), companies with less than 50 employees voluntarily applying a profit-sharing scheme, certain associations and foundations, and disabled workers with a “support and assistance through work” contract in a sheltered employment organisation (see explanations).
(3) No remuneration cap – exemption applies to all employees, including those paid more than 3x minimum wage.
(4) Workforce limit is the same as that applicable to the incentivisation scheme (intéressement).
How do you implement this bonus ?
You can implement the PPV by unilateral decision (if you have a Social & Economic Committee, it must be informed) or by a company or group agreement concluded in accordance with the procedures for an intéressement agreement.
For more information on this premium, you can contact our employment law specialist Laurent Guyon and his team.
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