Reportedly state run telecom operator BSNL is expected to hand lump sum packages to employees who have decided to retire under the recently announced Voluntary Retirement Package (VRS) scheme. Meanwhile under the BSNL Voluntary Retirement Scheme 2019, employees aged 50 years or above are eligible to opt for retirement.

Furthermore at least 63 per cent or 1 lakh BSNL employees of total 1.6 lakh employees are eligible to opt for VRS. Many reports indicate that almost 80,000 employees aged above 50 years have already opted for the scheme in just over two weeks of the rollout. As per report more employees are likely to opt for the VRS scheme, which is open till december 3. Further many employees opted for the scheme as the payout package is expected to be generous. Hence every employee availing the scheme would get a lump sum amount of salary for the remaining months of their service at the telco.

Meanwhile the current age of retirement for BSNL employees is 60 years, those aged 55 years will be entitled to a lump sum payment of 60 months (Remaining five years of service) of their present salary under the VRS scheme. Moreover this indicates that each employee opting for the scheme will retire as a millionaire and the BT report indicated that BSNL's monthly salary budget is approximately Rs 1,200 crore and each employee, especially experienced individuals, is expected to get a minimum salary of Rs 75,000 per month. Perhaps employees aged 50 years opting for the scheme are likely to get an Rs 90 lakh retirement package, assuming that they are earning around Rs 75,000.

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