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You are here: Home / BSNL VRS Scheme 2019 – Notification, Compensation Calculation, Formula and Benefits
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BSNL VRS Scheme 2019 – Notification, Compensation Calculation, Formula and Benefits

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.

Latest BSNL VRS News

BSNL VRS Exercising Option Guidelines – ERP and ESS Portal
BSNL VRS Scheme 2019 – Notification, Compensation Calculation, Formula and Benefits
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BSNL Voluntary Retirement Scheme 2019 – Notification Dated 4.11.2019
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