Voluntary retirement scheme has been less than successful, primarily due to inadequaqte budgetary support, open-ended schemes and a multiplicity of schemes whose attractiveness has. Steel authority of india ltd, one of india’s top steelmakers, said it has approved giving voluntary retirement compensation to 1,269 employees totaling rs 254 cr the figure comes to about rs 20 lakhs per employee on average vrs 2017, as the scheme is called, will result in savings of rs 127 cr. Sail retirement scheme for staff: steel authority of india ltd (sail) has come up with a voluntary retirement scheme (vrs) for its nearly 90,000 employees, following a downturn in businessread. 10 objectives of the scheme: io tend the medical benefits to the retired employees of sail and their spouses' persons covered: a retired employees of sail and their spouses b the employeei who have taken voluntary retirement and their spouses c the employees who cease to be in employment on account of permanent total disablement and their spouses.
The new scheme, like the old one was a deferred payment scheme, with extra incentive like a 5% increase in monthly benefits for each of the three age groups by september 1999, over 4,000 employees opted for the new scheme. Around 700 trainees at nokia's sriperumbudur facility near here have opted for the voluntary retirement scheme (vrs) announced by the company recently, union sources said apr 17, 2014, 22:10 pm ist. Ge power india to shut gujarat manufacturing plant from today the company said 95 per cent of workmen at the facility have opted for the a voluntary retirement scheme (vrs), which was initiated on august 21 and closed on august 25.
We would like to inform that the company had opened a voluntary retirement scheme (vrs) for its workmen at maneja (vadodara) factory on 21 august 2018, which was closed on 25 august 2018. The voluntary retirement scheme (vrs) is the most humane technique to provide overall reduction in the existing strength of the employees slide 3: also known as golden handshake a clause in an executive employment contract that provides the executive with a significant severance package in the case that the executive loses his or her job. Bharat heavy electricals limited from: vaijayanti bhattacharjee, gm (hr-policy i, nic & tmx), bhel corporate office since bhel pension scheme does not permit voluntary contribution from cases of voluntary retirement under specific vrsnss scheme, would be examined separately however, cases of employees availing voluntary (premature. The company, on april 28, 2016, announced a voluntary retirement scheme for employees who have either completed 10 years of service or are above 40 years of age. Cases of voluntary retirement – as per the prevailing scheme at that time deputation from other cpse (provided employee joins back) cases of employees maintaining lien with sail.
Voluntary retirement scheme 2016 of sail dsp have been uploaded in circulars under documents click here to view the document memorandum submitted to ceo, dsp posted on january 27, 2016 at 11:30 am comments (0) the memorandum demanding settlement of various issues submitted before ceo, dsp on 27/01/2015. After a gap of nearly 10 years, steel authority of india (sail), one of the largest state-owned steel making company in india, is reportedly planning to launch a nearly rs 400 crore voluntary retirement scheme. Vrs-schemedoc -1- voluntary retirement scheme (vrs) for the employees of public sector undertakings 1 short title: (i) this scheme may be called the. Steel authority of india limited iisco steel plant, burnpur voluntary retirement scheme -2017 1 objective to achieve manpower optimization for effective utilization of human resources, improved productivity, cost reduction and quality of work life.
Sail to kick off retirement scheme next month, india today online, september 05, 2000 sail ends 4-year recruitment freeze, the economic times, february 9, 2001 srinivasan mv, voluntary retirement and workers' welfare, wwwepworgin. Retirement scheme and the voluntary separation scheme to the notice of the public enterprises under their administrative control and to ensure that pses implement the schemes strictly in accordance with the provision set out herein. The employees who have taken voluntary retirement and their spouses c apart from fresh enrolments during the year, only the person(s) who were members of sail mediclaim scheme as on 31-03-2017, are eligible for becoming members of sail mediclaim scheme (2017-18) scheme . New delhi, may 8: steel authority of india ltd (sail) has come up with a voluntary retirement scheme (vrs) for its nearly 90,000 employees, following a downturn in business sail said it had no fixed job-cut targets, but sources said it wanted to retire 1,500-2,000 employees at a cost rs 400-500 crore.
Financial express reported that steel authority of india limtedwill soon launch a nearly inr 400 crore voluntary retirement scheme after a gap of nearly 10 years, aimed at reducing its workforce. At a time when the domestic steel industry is reeling under deep financial stress due to demand slowdown and surge in cheap chinese imports, state-run steel authority of india ltd (sail) has introduced a voluntary retirement scheme (vrs) starting 1 may for its employees.
32 voluntary retirement scheme in dsp the plan to set up durgapur steel plant along with other steel plants of the country was drawn by the end of first five-year plan (1951-56. The committee, while recommending the lowering of the retirement age, had said that retiring the employees was a cheaper option than a voluntary retirement scheme (vrs), which sail. At the time of his voluntary retirement or voluntary separation shall be exempt under clause (10c) of section 10 if the scheme of voluntary retirement framed by the aforesaid company or authority or co-operative society or university or institutes, as the case may be or if the scheme of voluntary separation framed by a public section company. Hurt by a prolonged slowdown in india's auto industry, tata motors will offer a voluntary retirement scheme to a section of employees as it looks at rationalising costs more news 'voluntary.