STEEL AUTHORITY OF INDIA LIMITED - IISCO STEEL PLANT Personnel Department: Central Functions 7, THE RIDGE, BURNPUR PL/PR&IR/2017/281
Dated : 15/06/2017
CIRCULAR Sub : Voluntary Retirement Scheme – 2017 A Voluntary Retirement Scheme based on SAIL Corporate Office Letter No. PER/MPP/VRS-2017 dated 07/06/2017 is hereby implemented in IISCO Steel Plant, Burnpur. The Voluntary Retirement Scheme – Scheme – 2017 2017 (Annexure – (Annexure – I) I) and the format for application (Annexure – (Annexure – II) are enclosed. The eligible employees are hereby requested to submit their application in prescribed format in triplicate at their respective Personnel Office. Application forms will be available with concerned Personnel Officers and ISP portal. th
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The scheme will be operational in ISP from 15 June 2017 to 30 September, 2017. th
VR applications shall be accepted up to 20 of the month in which release is sought. This issues with the approval of Competent Authority.
(R Banerjee) AGM(Pers-CF & HRIS) Distribution : 1. All EDs 2. All GMs 3. All HODs 4. DGM(Vigilance) & ACVO / DGM(Tech.), CEO’s Sectt. / Sectt. / DGM (PR) 5. AGM(F&A)- Pay / AGM(Pers), CEO’s Sectt. 6. All Executives of Personnel Department
Copy forwarded to : President, IOA Copy forwarded to : General Secretaries 1. Asansol Iron & Steel Worker’ Worker’s Union, Burnpur 2. ABK Metal & Engg. Worker’s Union, Burnpur 3. United Iron & Steel Worker’s Union, Burnpur 4. Burnpur Ispat Karmchari Sangh , Burnpur 5. Iron Steel & Engg. Worker’s Union, Burnpur
Annexure -I
STEEL AUTHORITY OF INDIA LIMITED IISCO STEEL PLANT, BURNPUR Voluntary Retirement Scheme -2017 1. Objective To achieve manpower optimization for effective utilization of human resources, improved productivity, cost reduction and quality of work life. 2. Scope (1) The scheme shall apply to regular/permanent SAIL employees . However, granting of Voluntary Retirement shall be at the sole discretion of the Management. 3. Eligibility Employees who have put in 15 years of service more.
(2)
or more in SAIL and are 45 years of age or
4. Benefits under the Scheme An employee whose offer of Voluntary Retirement is accepted (4) following benefits : i.
ii. iii. iv. v. vi. vii. viii.
ix.
(3)
will be entitled to the
The VR compensation will consist of 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 Rs 25,000/- 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. The VR compensation amount shall be paid on lump sum basis. Salary for the purpose of VRS will consist of Basic Pay and D.A. only, being drawn on the date of release. Salary for VRS and consequently ex-gratia/VR compensation shall be calculated on the basis of 30 days in a month. Provident Fund-As admissible under the Rules. Medical facilities for self and spouse as available on superannuation. Transfer benefits for self and family as admissible under the ‘Travelling Allowance Rules’ on superannuation. Gratuity and leave encashment, as per the rules o f the Company. Enhanced VR compensation on account of any increase in wages / salary consequent to wage revision shall be payable; subject to terms and conditions of the wage / salary revision due w.e.f. 01.01.2017 and applicable DPE guidelines. Dinner set and Service Certificate shall be given at the time of farewell, as provided on superannuation.
5. Repayment of Loans Employees availing VR shall be required to repay outstanding loans/advances with interest and it may be adjusted from VR compensation /leave encashment/gratuity.
6. Tax Payment The Voluntary Retirement benefits shall be subject to income tax as per the rules. 7. Re-employment An employee availing of voluntary retirement under this scheme will not be eligible for reemployment in any of SAIL Plants/Units, subsidiaries or joint ventures. Once an employee avails of voluntary retirement from SAIL, he/she shall not be allowed to take up employment in other PSU. If he/she desires to take up employment, he/she shall have to return the VRS compensation received by him/her to SAIL.
8. Pension An employee availing of VR under the scheme shall be eligible to benefits under the SAIL Pension Scheme subject to fulfillment of terms and conditions. (5).(6)
9. Procedure i.
An eligible employee shall submit an application for voluntary retirement under the scheme to the competent authority through proper channel in the prescribed format. Applications received from employees for VR shall be examined by the Screening Committee at plant/unit level and shall be recommended for accepting/rejecting. The VR application cannot be withdrawn after the same has been accepted, i.e. approved by the competent authority. Employees whose VR application has been rejected by the Screening Committee may appeal before the Appellate Committee.
ii. iii. iv.
10. Tenure th
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The scheme will be implemented for a period from 15 June , 2017 to 30 September, 2017.
11. Right of Management I.
The Chairman, SAIL reserves the right to extend/limit the period of operation of the scheme or to withdraw and re-introduce the scheme, and to modify/alter/amend the scheme in any manner without any notice and without assigning reasons therefore.
II.
Notwithstanding any of the aforesaid provisions, the scheme does no confer any right on any employee to have his or her request for voluntary retirement accepted by the Competent Authority. Competent Authority will have full discretion to accept or reject the request from an employee for voluntary retirement.
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Explanatory Note :
1. Employees under ‘Bond’ consequent to training/study leave, sponsorship and on lien/deputation etc. are not eligible. 2. Service shall mean continuous service as per the Gratuity Rules of SAIL. 3. The following are the Competent Authority for accepting of VR. Non-executive & executives up to E-4 grade Executives in E-5 & above grades
Chief Executive Officer Chairman
4. For reckoning of benefits, date of release shall be the relevant date. 5. Employee shall submit application in prescribed form to respective Personnel Executive. An acknowledgement shall be given to the employee. 6. In case of acceptance of VR by competent authority, all other formalities including vigilance clearance requirement shall be followed as per the rules before release of the employee.
Annexure -II
STEEL AUTHORITY OF INDIA LIMITED IISCO STEEL PLANT, BURNPUR To ___________________ (Personnel Officer) IISCO Steel Plant, Burnpur. Through Proper Channel
Subject : Voluntary Retirement Scheme – 2017 Dear Sir / Madam, With reference to Circular No. PL/PR&IR/2017/281 dated 15/06/2017, I want to avail the benefit of VR Scheme 2017 and request that I may be released from the Services of SAIL, ISP w.e.f. 30.06.2017 / 31.07.2017 / 31.08.2017 / 30.09.2017 under VRS-2017. In this regard, relevant particulars are furnished below:
1.Name (in block letters):
2.SAIL PNo. 3.Pl No. :
4.Designation:
5.Department & Section :
7.Date of Birth:
8.Date of appointment :
M M -
D
D -
Y
Y
Y
Y
10.Basic Pay : 13.Address for communication :
M M -
D D -
11. PP (if any) :
Y
Y
6.Grade : 9.Date of Joining ISP : Y
Y
M M -
D
D
-
Y
Y
Y
Y
12. DA:
14. Mobile No. ( other than CUG in case of executives) 15. e-mail id ( other than @sailisp.com) : 15.Reasons for seeking VR : It is hereby declared that I have fully understood the VR Scheme-2017 and undertake to abide by all the terms and conditions of the said scheme. I also understand that I shall not be eligible for future employment in SAIL and its Subsidiaries or Joint Ventures. I further understand that after availing voluntary retirement from SAIL, I shall not be allowed to take employment in any other PSU and in case I desire to do so, I hereby undertake to return the amount received as VRS compensation to SAIL.
Place :
(Signature of applicant)
Date :
(Name of applicant)
Verified that the details as filled by the applicant at Sl. No. 1 to 9 are correct as per personal records of the applicant.
(Seal of Personnel Officer)
Member Secretary(Screening Committee)
(Signature of Personnel Officer) Date:
