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BSNL notifies Voluntary Retirement Scheme , scheme open till Dec 3

BSNL notifies Voluntary Retirement Scheme , scheme open till Dec 3

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  7 Nov 2019 4:49 PM GMT

New Delhi: State-run Bharat Sanchar Nigam Limited (BSNL) has notified its Voluntary Retirement Scheme and has asked its circle heads to circulate the guidelines to facilitate the exercise of the option by its employees. In a communication to its circle heads, the BSNL said: “In pursuance to the decision of the Union Cabinet and conveyed by Department of Telecommunications (DoT), the BSNL Voluntary Retirement Scheme - 2019 is being circulated to all concerned and invites options from employees eligible under the scheme for seeking voluntary retirement as per the provision of the scheme. “Options seeking voluntary retirement under the scheme shall remain open from November 4 up to December 3 and the effective date of voluntary retirement under this scheme will be January 31, 2020,” it said.

The BSNL has also instructed the chief of circles “to give wide publicity to the scheme to enable all the eligible employees to take an informed decision and exercise the option for VRS within the prescribed time period”.

The circles are to conduct open house sessions to provide maximum information about the scheme to help the employees make informed decisions. Billboards are also to be arranged for highlighting the salient features of the scheme. Telecom Minister Ravi Shankar Prasad had recently asked BSNL to start a dialogue with its employees on the VRS and suggested pitching it well for better response. “BSNL’s revival depends upon the successful implementation of the VRS. Accountability will be fixed from the top, if the revival plan is not implemented in its true spirit,” highly placed sources had told. The success of the VRS is critical to the survival of BSNL, whose 1.75 lakh strong workforce consumes 75 percent of the company’s revenues in wages. The telco has been making losses for the last 10 years and posted an estimated loss of Rs 14,300 crore in 2018-19.

Under the VRS, employees above the age of 53.5 years will get 125 percent of their salary, which they could have earned in the balance period of their service. Employees between 50 and 53.5 years opting for the VRS will get benefit from the range of 80 to 100 percent of the remuneration to be paid in the balance period of their service. (IANS)

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