Mahanagar Telephone Nigam Limited (MTNL) has rolled out a voluntary retirement scheme (VRS) for its employees. The move follows government’s approval to the revival package for MTNL.
The scheme is based on Gujarat Model of VRS and will be open for employees till December 3, 2019.
As per the telco, all regular and permanent employees of 50 years and above as on January 31, 2020 can opt for the scheme. Around 15,000 out of 22,000 employees of the firm are estimated to be eligible for the scheme.
Further, the company has segregated the scheme for three sets of employees-combined service optees, pro-rata optees and MTNL recruited employees.
While the combined service optees will get ex-gratia plus admissible pension of up to 125 per cent of their salary, pro-rata optees will also get the same benefit as combined service optees having same period of service completed and remaining. Meanwhile, MTNL recruited employees will get ex-gratia up to 100 per cent of salary.