BSNL Announces Voluntary Retirement Scheme for Employees

New Delhi, November 6, 2019:

Bharat Sanchar Nigam Limited (BSNL) has issued notifications of its Voluntary Retirement Scheme and asked the circle heads to circulate the guidelines to facilitate the exercise of the option by its employees.

The state-run telecom service provider in a communication to the circle heads said, “In pursuance to the decision of the Union Cabinet and conveyed by Department of Telecommunications (DoT), the BSNL Voluntary Retirement Scheme - 2019 is being circulated to all concerned and invites options from employees eligible under the scheme for seeking voluntary retirement as per the provision of the scheme.”

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It also mentioned that the option shall remain open from November 4 up to December 3. The effective date of voluntary retirement under this scheme will be January 31, 2020.

BSNL in its communication has also instructed the chief of circles to give wide publicity to the scheme to enable all the eligible employees to take an informed decision.

Open house sessions will be conducted at respective circles to provide maximum information about the scheme to help the employees make informed decisions. Billboards are also to be arranged for highlighting the salient features of the scheme.

Telecom Minister Ravi Shankar Prasad had recently asked BSNL to start a dialogue with its employees on the VRS and suggested pitching it well for better response.

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Under the VRS, employees above the age of 53.5 years will get 125 per cent of their salary, which they could have earned in the balance period of their service. Employees between 50 and 53.5 years opting for the VRS will get benefit in the range of 80 to 100 per cent of the remuneration to be paid in the balance period of their service. For employees currently above 55 years of age, on opting for VRS, the pension will be commuted only when they attain 60 years of age (the current retirement age). For the employees, currently of age 55 years and less, on opting for VRS, the pension will be commuted in the sixth year 2024-25.

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