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BSNL MTNL VRS Package or Ex-Gratia Calculator and Rules Explained

bsnl mtnl vrs calculator

There are speculations about VRS - Voluntary Retirement Scheme Scheme in BSNL and MTNL subsidiaries of the Government as per all major media news portals. Final Rules are yet to be announced by the organisations. Some expected Rules are listed below for basic understanding. These are not final.

BSNL MTNL VRS Benefits Calculation Rules

Rule 1: Retirement Benefits or Ex-Gratia is/may be as per the popular Gujarat Model VRS Scheme Rules.

Rule 2: Minimum age to enter the VRS Scheme is 50 years. In other words, not more than 10 years of service should be left.

Rule 3: The actual Gujarat Pattern VRS model suggests only 36 months of salary as the maximum amount. Speculation about 50 months maximum is not yet finalised.

Rule 4: Only the present Basic and Domestic Allowance (DA) are used for calculation.

Rule 5: If the final compensation amount is more than 50 months of salary, only 50 months (DA + Basic) salary is given.

Rule 6: The employee should serve at least 15 years even though he crosses 50 years of service. 

Example Calculation 1 with 50 Months Formula

Basic = Rs. 25,000

DA = 140%

One Day Salary = (Basic+DA)/30days = 60000/30 =  Rs. 2000

Completed service = 25 years

Remaining Service = 5 years

Compensation for Completed Years = 35 days x 25 x 2000 = Rs. 17,50,000

Compensation for remaining Years = 25 days x 10 x 2000 = Rs. 5,00,000

Expected Compensation Amount = 28,00,000 + 8,00,000 = Rs. 22,50,000

50 Months Maximum Salary = (25000 + 1.4*25000) x 50 = Rs. 30,00,000

Final VRS Amount or Ex-Gratia = Rs. 22,50,000 ( It is less than 50 months salary)

Example Calculation 2

Basic = Rs. 40,000

DA = 140%

One Day Salary = (Basic+DA)/30days = 96000/30 =  Rs. 3200

Completed service = 25 years

Remaining Service = 10 years

Compensation for Completed Years = 35 days x 25 x 3200 = Rs. 28,00,000

Compensation for remaining Years = 25 days x 10 x 3200 = Rs. 8,00,000

Expected Compensation Amount = 28,00,000 + 8,00,000 = Rs. 36,00,000

50 Months Maximum Salary = (40000 + 1.4*40000) x 50 = Rs. 48,00,000

Final VRS Amount or Ex-Gratia = Rs. 36,00,000 ( It is less than 50 months salary)

 


BSNL MTNL VRS Amount or Package Calcuator




 

You can check the Gujarat Model VRS Calculator as of now for all other Rules regarding Leaves and Leave Encashment.

Disclaimer: *This calculator is only for casual calculation purposes. Exact Rules, Amount and Benefits will be communicated by your Employer directly. This may not show exact / correct amount. This is based on News Portal information.

 

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