In a written reply to the Lok Sabha, Milind Deora, Minister of State for Communications and IT said that Bharat Sanchar Nigam Limited (BSNL) has submitted the details of the proposed voluntary retirement scheme (VRS) to the Department of Telecommunications (DoT) for employees who have served for 15 years.
The employees, who will avail the VRS, would get an ex-gratia amount of 60 days salary (basic and dearness allowance) for each completed year of service, or salary for the number of months left in the service, whichever is less.
However, the compensation would be subject to 60 months salary. Further, he said that the ex-gratia amount will be in addition to the normal retirement benefits.
The likely expenditure on ex-gratia for approximately 0.1 million employees is estimated to be about Rs 112.76 billion. In addition, there will be expenditure on normal retirement benefits, including gratuity, pension, leave encashment and transfer grant.
Meanwhile, BSNL has held consultations with its executive association and staff union in this regard. BSNL has reported that the majority of associations have opposed the scheme or expressed their reservations.
