Bharat Sanchar Nigam (BSNL) has rolled out voluntary retirement scheme (VRS) for its employees. The company hopes that about 100,000 employees will avail of the package.
The scheme opened on November 4 and will continue till December 3. The total number of BSNL employee is 175,000.
All regular and permanent employees of BSNL, including those on deputation to other organisations or deputed elsewhere, are eligible if they are 50 years old or older.
The amount of ex-gratia for any eligible employee 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.
Mahanagar Telephone Nigam (MTNL), too, has rolled out a VRS for its employees. The scheme, based on Gujarat model and it will also be open till December 3. In a notice to employees, MTNL said, “All regular and permanent employees of 50 years and above as on January 31, 2020”, are eligible to opt for the scheme.
The government last month had approved a Rs 69,000-crore revival package for BSNL and MTNL. The plan includes merging the two loss-making firms, monetising their assets and giving VRS to employees so that the combined entity turns profitable in two years.