As per the draft proposal , VRS Package Calculation Formula for BSNL Employees will be 35 Days Salary per year for completed service and 25 days salary per year for left out service up to superannuation.
Sources confirmed that Draft Proposal for VRS Package Formula has been finalised and it will be circulated tomorrow. BSNL may open its window for applying VRS Scheme on 4th November 2019, as the period for opting VRS Scheme will be from 4th November 2019 to 4th December 2019.
According to this proposed VRS Benefit Formula, Ex Gratia amount will be calculated as two components
- Ex gratia for no of years’ service completed = 35 days salary / year
- Ex gratia for no of years’ service left out up to superannuation = 25 days salary /year
The salary will be calculated from the Basic Pay + IDA of the last month in service
1 day Salary = Basic Pay for last month + IDA /30
The Ex gratia amount is limited so that total of ex gratia amount and admissible pension for the remaining service period of service does not exceed 125% of the salary that the employee would have drawn on the date of voluntary retirement in the remaining service period
The Ex Gratia on VRS is to be paid in two instalments of 50% each during Fy 2019-2020 and during Q1 of FY 2020-21
The employees aged 50 years and above can opt for VRS from BSNL