Dear Friends
Kindly share latest information on Voluntary Retirement Scheme (VRS) for Private Sector Employees in Delhi / India.
Please share the Minimum and the Maximum Compensation details as per existing LAW.
Best Regards
Bishto
From Japan, undefined
Kindly share latest information on Voluntary Retirement Scheme (VRS) for Private Sector Employees in Delhi / India.
Please share the Minimum and the Maximum Compensation details as per existing LAW.
Best Regards
Bishto
From Japan, undefined
VRS is not guided by any law but it depends on individual company policy. In India central PSU largely follow 35 days salary for spent years and 25 days salary for remaining years of service as compensation (sometime with cap) along with usual retirement benefits.
From India, Calcutta
1From India, Calcutta
Hallo Mr Indranil,
Can you elaborate in detail about your lines :
PSU largely follow 35 days salary for spent years and 25 days salary for remaining years of service as compensation (sometime with cap)
From India
Can you elaborate in detail about your lines :
PSU largely follow 35 days salary for spent years and 25 days salary for remaining years of service as compensation (sometime with cap)
From India
Hi Raj,
This may help to some extent:
The VR Compensation will consist of a salary of 35 days for every completed year of service and 25 days for the balance of service left until superannuation. The compensation will be subject to a minimum of ( say ₹ 25K) or 250 days salary whichever is higher. However, the VR Compensation amount shall not exceed the sum of the salary that the employee would draw at the prevailing level for the balance of the period left before superannuation.
From India, Calcutta
This may help to some extent:
The VR Compensation will consist of a salary of 35 days for every completed year of service and 25 days for the balance of service left until superannuation. The compensation will be subject to a minimum of ( say ₹ 25K) or 250 days salary whichever is higher. However, the VR Compensation amount shall not exceed the sum of the salary that the employee would draw at the prevailing level for the balance of the period left before superannuation.
From India, Calcutta
Find answers from people who have previously dealt with business and work issues similar to yours - Please Register and Log In to CiteHR and post your query.
Voluntary Retirement Scheme.pdf
Voluntary Retirement.docx