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New Delhi, Dec 19: Reliance group companies BSES Yamuna Power and BSES Rajdhani Power, which distribute power in central, east, south and west Delhi, have announced a special voluntary retirement scheme (VRS).
The scheme will be open to all regular employees who have completed 10 years of service from the date of joining Delhi Vidyut Board or have attained the age of 40 years.
The scheme will be open from December 22 to December 31. The two companies have over 11,500 employees.
An employee whose application is accepted for the voluntary retirement scheme will be entitled to 60 days salary (basic pay plus dearness allowance) as on December 31of this year for each completed year of service or the monthly salary (basic pay plus DA) multiplied by the balance months of service left before the normal date of retirement, said joint press release of the two companies here on Friday.
A company spokesperson said there is an additional unique concept in the voluntary retirement scheme which will entitle the employees to enhanced additional benefit if the number of voluntary retirees crosses the threshold level.
“This is a benefit which has never been given in any voluntary retirement scheme in a utility before” the spokesperson said.
Besides, there is also an early-bird incentive for the applications received on the first and the second days,” the spokesperson added.
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