Jammu, Oct 14: To make it more palatable to the employees, the government has amended certain provisions of Golden Handshake Voluntary Retirement Scheme (VRS).
 Even as the VRS was introduced three years back to cut down unproductive expenditures in the chronically sick Public Sector Units in the state, it did not attract many employees. The employees and workers in the PSUs pointed certain “lacunas” in the VRS.
 The government, in order to make the scheme attractive and more palatable to the employees/workers, has made certain modifications in its provisions to remove the “anomalies” earlier pointed out by the employees.
 Notably, according to sources, so far only 1500 employees have opted Golden Handshake.    
 According to the officials privy to the happenings as per the new scheme at least 25 per cent of the budgetary support the government provides to the corporations will be exclusively earmarked for payment of gratuity, leave enhancement and CPF/CMPF plus interest to the employees opting VRS.
 The officials wishing not to be named said henceforth the respective management of the corporations would be held accountable for non-remittance of CPF/CMPF amounts.
 Till now the employees opting Golden Handshake/VRS were entitled to terminal benefits of exgratia relief for every completed year of service rendered. But now the new scheme provides the terminal benefits of exgratia relief for the remaining years of the service before superannuation as well.
 Official figures show that so far nearly Rs 61.24 crore has been paid from Plan and Rs 20.99 crore from Non-Plan budget on this count.
 “This provision will also apply to pending cases of retired employees who have not moved to the court or if moved the final orders are still awaited,” sources said,
 “Government will also include unpaid salary and pending instalments of 5th Pay Commission arrears in the VRS/GHS package,” said an official.

Lastupdate on : Thu, 14 Oct 2010 21:30:00 Makkah time
Lastupdate on : Thu, 14 Oct 2010 18:30:00 GMT
Lastupdate on : Fri, 15 Oct 2010 00:00:00 IST