shivanandaraok (n/a) 17 November 2007

VRS

Hi all
As a case study a private ltd co. with 150 employees in Tamil Nadu wants to introduce a Voluntary reirement scheme. Our queries our

1. Is there a 'model' VRS scheme draft?
2. What are the safeguards / permissions we should take before introduction of the scheme?
3. How do we ensure that the 'target' group employees take the scheme.
4. How do we ensure some employees do not take the VRS / Can we reject VRS offer of some and accept of others?
5. What are the legal payments i.e. Gratutity / PF etc.
6. What is an 'idea' VRS compensation formula?

Thanks

Reply Follow

5 Replies

PBS KUMAR (n/a) 21 November 2007

Dear Friend,

So far 'No' Private Limited Company has announced VRS Scheme. If the industry is in constrains that industry should follow the Industrial Disputies Act. to withdraw their manpower. For VRS there is 'NO' formated scheme. It is their own intrerest to do such things.

Regards,

PBS KUMAR

shivanandaraok (n/a) 22 November 2007

No private Company in India has announced VRS? That is not correct as far as my information os concerned.

I have seen schemes of private companies and am sure they were implemented.

Pls clarify

Thanks

PBS KUMAR (n/a) 23 November 2007

Dear Friend,

If you are having such confidential information please share with us.

Regards,

PBS KUMAR

shivanandaraok (n/a) 26 November 2007

Why is that no 'Private Ltd. Co' in India has launched a VRS. Is there any legal bar?

I am trying to relocate the schemes i saw and verify whether they were indeed private co's.

Sudhir Kumar, Advocate (Advocate) 26 November 2011

about 15 years back Associated Cemet Factory closed a plat at Surajpur Near Kalka in Haryana. You may seek guidance from them.

SInc there is no model in private sector, the VRS will be shortcut of retrenthcment. Employees may have ben be givne some bait so that they opt for the same.

Govt had tried this earlier with little success. The model can be available on the website of deptt of personnel www.persmin.nic.com