1.0 OBJECTIVE
The scheme is introduced with an over all view to rationalise surplus manpower and to mitigate hardship of employees to be rendered surplus` on completion/commissioning of Project and to provide certain monetary and other benefits to such employees.

2.0 TITLE AND SCOPE
2.1 This scheme shall be called ‘Voluntary Retirement Scheme’ and shall be applicable to all employees (including those in Executive and Supervisory categories) in the Projects/Units/Offices/Corporate Office of the Corporation but does not apply to casual workers and employees on contract.

“Employees” shall mean, all regular employees as defined under SJVNL Service Rules/Standing Orders. In case, there are employees willing to opt under the scheme but do not meet the eligibility conditions, the applications of such employees may be forwarded to the Corporate Office for consideration.

2.2 This scheme shall come into force and shall remain in operation in accordance with the notification issued by the management from time to time in this regard. Employees desirous of availing benefits under the scheme shall have to exercise their option within the specified time period.

2.3 The benefits of this Scheme shall not apply to such employees who either do not apply for the Voluntary Retirement or who do not apply within the given time period. The Corporation thereafter, shall have the right to decide about the surplus employees, if any, in the manner they deem fit within the provisions of the Law on the subject.

2.4 Employees who are serving the Corporation under Bond period for training abroad or those who have been trained under Transfer of Technology Programme are also eligible to opt under this scheme, subject to completion of their bond period.

1. “Scheme” shall mean the Voluntary Retirement Scheme as detailed hereunder:-

2. “Corporation” shall mean Satluj Jal Vidyut Nigam Limited

3. “C.M.D.” shall mean Chairman & Managing Director of Satluj Jal Vidyut Nigam Limited

4. “Emoluments” shall mean Basic pay + DA.

5. “Competent Authority” for accepting the application of employees for release under the Scheme shall mean:

1. Head of Project for workmen at Project.
2. Chairman & Managing Director for all other employees.

4.0 BENEFITS UNDER THE SCHEME
4.1 An employee whose request for voluntary retirement is accepted by the Corporation shall be entitled to the following benefits:

4.1.1 One month/three month’s notice pay as per terms of appointment of the employee concerned. Pay, in this case, shall mean emoluments as deemed under Para 3.4 of the Scheme.

4.1.2 Ex-gratia payment equivalent to 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.25000/- or 250 days salary whichever is higher. However, this compensation 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.

Salary for this purpose will consist of basic pay and DA only at the time of application given by the employee. No other allowances like Personal Pay, HRA, NPA, Family Planning increment will be counted.

An employee is entitled to payment of salary till the date of voluntary retirement, regardless of the date of implementation of the VRS. As for computing the completed years and months of service for the purpose of ex-gratia, the datum will be the date of which the employee in question had joined service.

The calculation shall be based on every completed year of service or part thereof. The part of the complete year served shall be entitled for ex-gratia on pro-rata basis.

The ex-gratia on notional salary revision shall not be admissible.

4.1.3 Contributory provident fund accumulation as due and payable under the Corporation Rules.

4.1.4 Gratuity, as due and payable under Gratuity Act/Scheme.

4.1.5 Cash equivalent to un-availed earned leave which are due to the employee at the time of release on voluntary retirement, subject to permissible accumulation limit.

4.1.6 Cash equivalent for Casual Leave on pro-rata basis upto the date of release of employee.

4.1.7 Encashment of Sick Leave/HPL as per para 30.A of SJVNL leave rules.

4.1.8 Payment of Bonus shall conform to provisions in the Bonus Act.

4.1.9. Rail/bus fare of the entitled class for self & family for settlement after Voluntary Retirement shall be paid for place where the employee intends to settle down after VRS.

In addition, the employee shall also be allowed the transportation cost of personal effects & conveyance as admissible under the TA Rules on retirement/superannuation.

4.1.10 No advance shall be paid to the employee for settling down at a place after being released on VRS. Further employees who do not prefer claim within a period of four months from the date of release on VRS, such claims shall be forfeited.

OR

Employee may opt to draw a fixed sum equivalent to 60 per cent fare of the entitled class for self and family members dependent upon the employee in terms of these rules, for 1000 kms. And 100% of transportation charges for the personal baggage for 1000 kms. In such a case, no adjustment bill will be required for this purpose.

5.1.11 The employees being relieved under VRS will be considered for coverage under the SJVNL Part-II of Medical Attendance Rules.

5.0 GENERAL CONDITIONS
5.1 This scheme shall not be applicable to the CMD and the Functional Directors of the Corporation.

5.2 If the application of an employee for voluntary retirement is accepted instantaneously and payment is arranged by the management on the same day, the concerned individual would be entitled to payment of ex-gratia alongwith the notice period pay. It is, however, clarified that payment of ex-gratia for service rendered or left over service before superannuation as well as the amount payable for the notice period should not exceed the basic pay plus DA that would have been paid to the employee who has opted for voluntary retirement till the date of his superannuation. For example, if an employee opts for voluntary retirement a few months before the date of superannuation, say at 59 years and 10 months, the payment should be restricted to 2 months basic pay plus Dearness Allowance.

In circumstances where the management take time to take a decision about the acceptance of an application submitted by the employee for voluntary retirement and allows the notice period to lapse or the individual concerned has drawn full salary during the notice period served by him, in these cases notice period pay would not be admissible as the individual has already drawn the salary during the notice period.

5.3 CL may be encashed on pro-rata basis upto the date of relief of employee.

5.4 The services rendered in other PSE would be taken into account for VRS, only on transfer of cash equivalent of Earned Leave and Provident Fund. Gratuity would be as per the provisions of the Act.

5.5 The services of Central Government employees or employees of other governments or employees not covered under 5.3 shall be treated as de-novo and such employees shall not be allowed the benefit of service rendered in the previous organization for the purpose of calculation of ex-gratia.

5.6 An employee can be permitted to withdraw his application for Voluntary Retirement before the Corporation notifies in writing to him about the decision to accept his application under the Scheme. In the event of death of an employee during the notice period, if action has not been completed on his application nor has notice period expired, such an employee shall be deemed to have continued on the rolls of the Corporation. Such an employee, therefore, shall be allowed the benefits as are admissible in the event of death while in service and not under the Scheme.

5.7 The application for VRS will be examined with reference to the pending disciplinary proceeding/vigilance clearance, if any, against employees. The request for VRS can be accepted to in all cases, subject to the provision in the Scheme, except in following circumstances:

• The department proceeding have been initiated or contemplated and the disciplinary authority is of the view that the case may and as the imposition of penalty of removal or dismissal or

• Prosecution is either contemplated or has actually been launched against the employee concerned.

5.8 Employee released under this Scheme shall not be eligible to seek re-employment in the Corporation.

5.9 The posts vacated on implementation of this scheme will not be filled again and shall be abolished forthwith. When an employee opts for voluntary retirement, it must be ensured that there is a net reduction in the staff strength taking all the posts together. Net result of the VRS should result in total reduction in manpower correspondingly.

5.10 Ex-gratia amount received by an employee under the scheme shall be exempted from income tax in terms of the notification issued by the Ministry of Finance (Department of Revenue).

5.11 All applications for release under the scheme shall be submitted in the proforma enclosed as Appendix.

5.12 An employee shall be communicated within a period of 10 days from the date of his application for seeking VRS whether his application has been accepted or otherwise. The notice period will start from the date such communication is communicated to the employee.

5.13 An employee may submit his application on or before the notified date. Where the terms of appointment are not available or where the terms of appointment are silent about notice period, the employee in such case may be allowed notice period pay of one month only.

5.14 While implementing the provisions of this scheme it shall be ensured that it is strictly in accordance with the provisions set out under DPE guidelines from time to time.

5.15 Management reserves the absolute right to accept or refuse the application of any employee under the Scheme.

5.16 For matters not specifically covered in these rules and for clarification/interpretation of these rules, decision of the Chairman/ Director (P) shall be final.