BSNL VRS Scheme 2019 – Notification, Compensation Calculation, Formula and Benefits
Voluntary Retirement Scheme for BSNL Employees 2019
Govt Proposed the scheme of Voluntary Retirement is an option to quit from service with lump sum amount
BSNL VRS Scheme Details
BSNL (Bharat Sanchar Nigam Limited) issued Notification on Voluntary Retirement Scheme (VRS) for BSNL employees on 4th November 2019 and open the window for an option through the online portal on that day itself!
At present, there is no extra benefit for the employees opting for VRS in Central Government Services. The VRS option purely depends upon the individual.
Here in BSNL, the scheme proposed by the Government for permanent BSNL employees. If an eligible BSNL employee decided to go on VRS, he will get lump-sum compensation apart from the retirement benefits (Terminal benefits as per the existing rules). And the scheme will be a voluntary basis only.
The Notification says, in addition to the lump-sum compensation or the amount of Ex-gratia of the Scheme, the employee shall be entitled to the terminal and other benefits, as applicable to the said employee under existing rules.
Eligibility for VRS
The main focus of the scheme is reduce the workforce in BSNL. BSNL offers with attractive package benefits to its employees opting to voluntarily retire from service before the normal date of superannuation (60 years). The permanent BSNL employees, who are all completed the age of 50 years and above are eligible to give an option to VRS. Interested eligible employees can now register their options through the official online portal of ERP and ESS window. [Click to read know more]
All regular and permanent employees (both absorbed employees and direct recruits) of BSNL, including those on deputation to other organisation or posted outside BSNL on loan/informal/deputation basis on the date of notification of the option for voluntary retirement under the Scheme, who has attained the age of 50 years or above as on the notified effective date of voluntary retirement scheme shall be eligible to seek voluntary retirement under this Scheme.
Important Dates of BSNL VRS Scheme 2019
|Notification issued date||4.11.2019|
|Scheme open date||4.11.2019|
|Scheme closing date||3.12.2019|
|Scheme effective date||31.1.2020|
BSNL VRS Calculation Formula
The lumpsum compensation package amount (Ex-Gratia) will be calculated in two aspects.
The amount of compensation will be equal to 35 days salary for each completed year of service
And, 25 days salary for every year of service left, until superannuation.
Salary means Basic Pay plus Dearness allowance thereon as applicable on the effective date of Voluntary retirement.
For the purpose of calculation, the salary per day shall be equal to monthly salary of such employee divided by 30 days.
The compensation shall not exceed the sum of salary that such employee would draw at the existing level (i.e. Basic Pay plus Dearness Allowance on the effective date of Voluntary retirement) during the service period left till superannuation from the effective date of VRS.
The prescribed pattern of calculation is different from the Gujarat model calculation. [Click to read know more]
Withdrawal Option in VRS
BSNL employees can check the scheme benefits through ERP and ESS Portal. Employees should know that the option once given, then the option will permit to withdraw only once during the prescribed time limit.
Last Date for Option extended?
At present, there is no proposal for extending the date for the option to BSNL employees. As per the Notification, the last date for option is 3rd December 2019.
Online VRS Calculator
We are keen to update the latest simple software online calculator (not in the excel sheet) for finding the exact amount of compensation as per the notification.