The ‘BSNL Voluntary Retirement Scheme – 2019‘, that was roll out recently, will remain open till December 3, 2019. Under this VRS Scheme, employees above the age of 50 years are eligible to opt for retirement. At least 63 percent or 1 lakh BSNL employees are eligible to opt for retirement under the scheme.
According to media reports, around 80,000 employees have already opted for the scheme in just over two weeks of the rollout. So far, the number of employees opting for VRS is in line with the BSNL’s internal estimates, however, since the scheme is open until December 3, more employees are expected to join the bandwagon.
Many employees opted for the scheme as the payout package is expected to be generous. Every employee availing the scheme would get a lump sum amount of salary for the remaining months of their service at the telco.
While the current age of retirement for BSNL employees is 60 years, those aged 55 years will be entitled to a lumpsum payment of 60 months (Remaining five years of service) of their present salary under the VRS scheme. Some employees are expected to get a retirement package of Rs 90 lakh under the scheme.
Apart from that, retiring employees will also be eligible for receiving gratuity, earned leave and monthly pension after they cross 60 years of age.
A BSNL source said the salary of the retiring employees would be protected and they will get full salary as per the cabinet’s decision.
