It's the correct specification (VW505.01) but it's the wrong weight (5w 30).
Now listen very carefully, I shall say this only once (again)
. You require oil to VW505.01 spec, with a 5w
40 weight. Or you can run with the new VW spec which is now standard for all service regimes which is VW504/507 5w 30.
Now, the oil you've got is the spec of one and the weight of the other. So in effect it's incorrect. However, given that it's made by Elf (who've been in the business long enough to know their onions) and it does actually have the correct spec on the bottle, then I would think that you'll be okay with it. All that it means is that the oil will be thinner when it gets up to 100deg C. (that's the 30 bit) but cold start performance will be the same (that's the 5w bit).
Important parts of the oil spec for a PD engine are
the correct VW specification and the correct weight. Both should be what you need for your engine.