Times of India | SAIL Bokaro VRS: Workforce Rationalisation Underway, Executives & Non-Executives Eligible
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Steel Authority of India Ltd (SAIL) has launched a workforce‑optimisation drive at its Bokaro Steel Plant, circulating a draft Voluntary Retirement Scheme (VRS) for both executives and non‑executives. Under the proposal, regular employees aged 50 or older with at least 15 years of service may apply, while contract, casual and temporary staff are excluded; executive eligibility also hinges on performance‑linked Average Credit Points. The lump‑sum payout would be calculated on salary, completed service, remaining years to superannuation and would include gratuity, provident‑fund, leave‑encashment, pension or NPS benefits and post‑retirement medical cover, but would bar re‑employment in SAIL, its subsidiaries or joint ventures. Applications are to be submitted online on a first‑come, first‑served basis, with those under vigilance or disciplinary action ineligible. Workers worry the scheme could later become a forced retirement mechanism, noting that a 75 % cap on benefits reduces its attractiveness and that the draft lacks safeguards for retaining critical skills.
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https://timesofindia.indiatimes.com/city/ranchi/sail-bokaro-vrs-workforce-rationalisation-underway-executives-non-executives-eligible/articleshow/131278441.cms
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