Dear All, Pleasd give me information about VRS. When will get VRS and what is process? Thanks Nilesh
From United States, Cleveland
Acknowledge(0)
Amend(0)
From United States, Cleveland
Acknowledge(0)Amend(0)
Dear Nilesh,
Greetings!
An employee who has attained the age of 50 years or completed 20 years of qualifying service may retire from service by giving a notice of not less than three months in writing directly to the appointing authority, with a copy marked to his immediate superior officer. Before giving such notice, he may satisfy himself by means of a reference to such authority that he has completed the required minimum number of years of qualifying service (B.P. No. 6 dated 25-1-93 and B.P. No. 222 dated 11-6-84).
Orders should be obtained from the competent authority on voluntary retirement before the expiry of the notice period of three months. The acceptance or rejection of the proposal for voluntary retirement shall be communicated to the employee before the expiry of the notice period of three months (U.O. Note No. 068736/E-7-1/83-5 dated 3-9-83).
An employee may withdraw the notice of voluntary retirement or withdraw his voluntary retirement after acceptance subsequently with the approval of the appointing authority before the expiry of the notice period (B.P. No.6 dated 25-1-93).
The three months' notice may be given before the employee attains the age of 50 years or completes 20 years of qualifying service, provided that the retirement takes place after he has attained the age of 50 years or completed 20 years of qualifying service.
Whether the employee issues the notice of voluntary retirement to the appointing authority directly or through the proper channel, the notice period takes effect from the date of receipt of the notice by the appointing authority only (Memo. No. 46362/p1/42-1 dated 27-4-94).
The last three months' period should necessarily be continuous and should not include a period of extraordinary leave without pay and allowances. When extraordinary leave without allowances runs concurrently with the period of notice, the leave should be refused, and the employee may be requested to join immediately and give a fresh notice of not less than three months. Otherwise, the request for voluntary retirement may be denied (Memo. No. 28575-Q2-97-6 dated 10-7-98).
WEIGHTAGE OF SERVICE ON VOLUNTARY RETIREMENT
An employee retiring voluntarily shall be given a weightage of service not exceeding 5 years, subject to the condition that the total qualifying service rendered, including the weightage, does not exceed 30 years and does not extend beyond the date of superannuation for the purpose of pension and gratuity.
The weightage given is only to increase the period of qualifying service. The pension and gratuity will be based on the actual emoluments on the date of retirement (B.P. No. 58 dated 22-6-98).
The addition of weightage is for the calculation of pension and not for the calculation of gratuity (Memo. No. 28575-Q2/97-5 dated 27-8-97).
The weightage will not lead to any notional fixation of pay for the calculation of pension and gratuity, effective from 1-7-96 (B.P. No.41 dated 27-8-97).
Both age and qualifying service shall be taken into consideration simultaneously, and care should be taken that after adding such weightage, the total number of qualifying service does not exceed 30 years and does not exceed 58 years/60 years of age, as the case may be.
Weightage added to qualifying service for those who retire on completion of 58 years of age:
- 25 Years and above: 5 Years, 53 Years: 5 Years
- 26 Years and above: 4 Years, 54 Years: 4 Years
- 27 Years and above: 3 Years, 55 Years: 3 Years
- 28 Years and above: 2 Years, 56 Years: 2 Years
- 29 Years and above: 1 Year, 57 Years: 1 Year
In the case of office helpers, daffadars, etc., whose retirement age is 60 years:
- 55 Years: 5 Years
- 56 Years: 4 Years
- 57 Years: 3 Years
- 58 Years: 2 Years
- 59 Years: 1 Year
(B.P. No. 41 dated 22-2-97).
Weightage of 5 years shall be limited up to the eligibility for full pension, and D.C.R.G. calculation accordingly (Memo. No. 28575-Q2/97-6 dated 10-7-98).
The pension shall be based on the average emoluments drawn during the last 10 months prior to the date of such voluntary retirement. Gratuity shall be based on the actual emoluments drawn on the date of such voluntary retirement (Memo. No. 10903-Q1/89-1 dated 8-5-89 G.O. No. 350/P&AR/FA Spl/dated 7-10-81).
Regards,
John N
From India, Madras
Acknowledge(0)Amend(0)
59Greetings!
An employee who has attained the age of 50 years or completed 20 years of qualifying service may retire from service by giving a notice of not less than three months in writing directly to the appointing authority, with a copy marked to his immediate superior officer. Before giving such notice, he may satisfy himself by means of a reference to such authority that he has completed the required minimum number of years of qualifying service (B.P. No. 6 dated 25-1-93 and B.P. No. 222 dated 11-6-84).
Orders should be obtained from the competent authority on voluntary retirement before the expiry of the notice period of three months. The acceptance or rejection of the proposal for voluntary retirement shall be communicated to the employee before the expiry of the notice period of three months (U.O. Note No. 068736/E-7-1/83-5 dated 3-9-83).
An employee may withdraw the notice of voluntary retirement or withdraw his voluntary retirement after acceptance subsequently with the approval of the appointing authority before the expiry of the notice period (B.P. No.6 dated 25-1-93).
The three months' notice may be given before the employee attains the age of 50 years or completes 20 years of qualifying service, provided that the retirement takes place after he has attained the age of 50 years or completed 20 years of qualifying service.
Whether the employee issues the notice of voluntary retirement to the appointing authority directly or through the proper channel, the notice period takes effect from the date of receipt of the notice by the appointing authority only (Memo. No. 46362/p1/42-1 dated 27-4-94).
The last three months' period should necessarily be continuous and should not include a period of extraordinary leave without pay and allowances. When extraordinary leave without allowances runs concurrently with the period of notice, the leave should be refused, and the employee may be requested to join immediately and give a fresh notice of not less than three months. Otherwise, the request for voluntary retirement may be denied (Memo. No. 28575-Q2-97-6 dated 10-7-98).
WEIGHTAGE OF SERVICE ON VOLUNTARY RETIREMENT
An employee retiring voluntarily shall be given a weightage of service not exceeding 5 years, subject to the condition that the total qualifying service rendered, including the weightage, does not exceed 30 years and does not extend beyond the date of superannuation for the purpose of pension and gratuity.
The weightage given is only to increase the period of qualifying service. The pension and gratuity will be based on the actual emoluments on the date of retirement (B.P. No. 58 dated 22-6-98).
The addition of weightage is for the calculation of pension and not for the calculation of gratuity (Memo. No. 28575-Q2/97-5 dated 27-8-97).
The weightage will not lead to any notional fixation of pay for the calculation of pension and gratuity, effective from 1-7-96 (B.P. No.41 dated 27-8-97).
Both age and qualifying service shall be taken into consideration simultaneously, and care should be taken that after adding such weightage, the total number of qualifying service does not exceed 30 years and does not exceed 58 years/60 years of age, as the case may be.
Weightage added to qualifying service for those who retire on completion of 58 years of age:
- 25 Years and above: 5 Years, 53 Years: 5 Years
- 26 Years and above: 4 Years, 54 Years: 4 Years
- 27 Years and above: 3 Years, 55 Years: 3 Years
- 28 Years and above: 2 Years, 56 Years: 2 Years
- 29 Years and above: 1 Year, 57 Years: 1 Year
In the case of office helpers, daffadars, etc., whose retirement age is 60 years:
- 55 Years: 5 Years
- 56 Years: 4 Years
- 57 Years: 3 Years
- 58 Years: 2 Years
- 59 Years: 1 Year
(B.P. No. 41 dated 22-2-97).
Weightage of 5 years shall be limited up to the eligibility for full pension, and D.C.R.G. calculation accordingly (Memo. No. 28575-Q2/97-6 dated 10-7-98).
The pension shall be based on the average emoluments drawn during the last 10 months prior to the date of such voluntary retirement. Gratuity shall be based on the actual emoluments drawn on the date of such voluntary retirement (Memo. No. 10903-Q1/89-1 dated 8-5-89 G.O. No. 350/P&AR/FA Spl/dated 7-10-81).
Regards,
John N
From India, Madras
Acknowledge(0)Amend(0)
Dear Nilesh,
VRS - Voluntary Retirement from Services
Normally, it is applicable when an employee attains the age of above 40 and has a few years of service left for usual retirement. If they are unable to perform their duties due to their health or the environment of the organization (such as downsizing, running at a loss, etc.), they can express their desire to the management in writing that they would like to opt for VRS, which has to be accepted by the company.
The employee who opts for VRS should have a certain minimum period of service as per the company's policy for considering VRS.
Their terminal benefits, as applicable as per the organization's policy, will be settled according to the procedure. In case of downsizing the employee, the company may opt to provide a certain amount in addition to their terminal benefits (considering the remaining period of service left) as per decisions taken by them.
LK
From India, Madras
Acknowledge(0)Amend(0)
VRS - Voluntary Retirement from Services
Normally, it is applicable when an employee attains the age of above 40 and has a few years of service left for usual retirement. If they are unable to perform their duties due to their health or the environment of the organization (such as downsizing, running at a loss, etc.), they can express their desire to the management in writing that they would like to opt for VRS, which has to be accepted by the company.
The employee who opts for VRS should have a certain minimum period of service as per the company's policy for considering VRS.
Their terminal benefits, as applicable as per the organization's policy, will be settled according to the procedure. In case of downsizing the employee, the company may opt to provide a certain amount in addition to their terminal benefits (considering the remaining period of service left) as per decisions taken by them.
LK
From India, Madras
Acknowledge(0)Amend(0)
Dear Nilesh,
My name is Sivaprasad. Normally, my father has taken VRS (Voluntary Retirement). At that time, my father was above 55 years old and faced some problems. I believe he took VRS in 2008 from Telangana. Before 2004, my father took VRS and his job was passed on to his sons, but I did not take any job. How can I inquire about job opportunities at that organization? Please help me. The organization is a power station of Telangana TSGENCO.
Thank you.
From India, Hyderabad
Acknowledge(0)Amend(0)
My name is Sivaprasad. Normally, my father has taken VRS (Voluntary Retirement). At that time, my father was above 55 years old and faced some problems. I believe he took VRS in 2008 from Telangana. Before 2004, my father took VRS and his job was passed on to his sons, but I did not take any job. How can I inquire about job opportunities at that organization? Please help me. The organization is a power station of Telangana TSGENCO.
Thank you.
From India, Hyderabad
Acknowledge(0)Amend(0)Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.
Minimum Qualifying service for Gratuity under the Payment of Gratuity Act.docx
Voluntary Retirement Scheme.pdf