VRS Scheme BSNL Employees

VRS scheme BSNL employees 2019-2020

Near about 75000 employees working in Bharat Sanchar Nigam Ltd. or BSNL has requested for VRS scheme. The scheme has been initiated recently by BSNL chairman along with Managing Director of state telecom corporation PK Purwar. The announcement has been done on December 2019. It is seen that near about 1 lakh employees are eligible for availing scheme benefits out of a total of 1.50 lakhs. However, the request for availing scheme benefits has been granted only 77000 employees. The date of voluntary retirement will be effective from 31st January 2020. Read the following part of the article to know about more details of the scheme.

Highlighting features of scheme  

Among the 70000 to 80000 employees who are planning to get the scheme benefits, BSNL is trying to save on wage bills.The age limit for the employees is that only after attaining the age of 50 years are eligible to get the scheme benefits. This includes the regular, permanent, employees on deputation, employees posted outside organization for deputation and the like are included. Also, the ex-gratia amount will be 35 days of salary for one completed service year. In addition, employees shall get 25 days of salary for every service year left before retirement.

However, a similar scheme of MTNL has come up in Gujarat for VRS of employees that shall be based on the Gujarat model. It will be available for employees till 3rd December 2019. In Union cabinet, it has been decided to combine the MTNL and BSNL plans.

Details of a rescue package by the government

  • In the rescue package given by state government includes rupees 20140 crores infusion that has been given for the purchase of 4G spectrum.
  • For paying GST on spectrum allocation, rupees 3674 crores will be given
  • Rupees 12768 cores will be given for retirement liability
  • Companies are raising rupees 15000 crores in debt due to sovereign guarantee and government is funding rupees 17160 crores for successful implementation of the VRS scheme.  

Therefore, it has been said that both BSNL and MTNL will monetize assets of near about rupees 375000 crores in the coming three years. Both the firms have reported of its massive loss in the past nine to ten years. Thus, the debt on both the companies sums up to almost rupees 40000 crores. In this amount, the half liability belongs to MTNL alone. 

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