Are you looking for the BSNL VRS Calculator? If yes, then I am here to help you out. In this article, you will find the BSNL VRS Calculator, which will help you calculate the benefits of a voluntary retirement scheme or VRS using the new VRS Formula as per the Gujarat Model.
As well as you will be able to check the approximate ex gratia amount on the cards to be received for the retirement of a working employee.
According to sources is it said that the BSNL VRS scheme would be based on the Gujarat pattern, and the VRS benefits of BSNL and MTNL employees will be calculated on salary, and this means the formula would be Basic Salary + Industrial Dearness Allowance of the last month (Retirement) in service.
Furthermore, the scheme will be open between November 4th and December 3rd of 2019. The details and instructions related to it have already been given to the field units and all BSNL employees to inform the BSNL and MTNL employees about the VRS offering, So if you have not got the details yet, you will get it pretty soon.
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BSNL VRS Formula and Calculator
| Items Considered for VRS | Scheme Calculation |
|---|---|
| Total Years of Service Completed | 33 |
| Remaining Working Service | 5 |
| Present Basic Pay (Taken as 35000) | 40000 |
| Present Industrial Dearness Allowance | 60800 |
| Total Salary Per Month | 100800 |
| One Day Drawn Salary (Total Salary / 30) | 3360 |
| VRS Compensation on Completed Years | 3880800 |
| VRS Compensation on Remaining Years | 420000 |
| Total VRS Compensation | 4300800 |
| But considered a maximum of 36 months salary (40000+60800)*36 | 3628800 |
| Final VRS Compensation (in consideration with lowest) = Exgratia + Pension for remaining service | 3628800 |
Also, there are nearly one lakh BSNL employees who are eligible for the VRS out of the stall strength of 1.65 lakhs, and the company expects up to 70000 + employees who will opt for New Voluntary Retirement Scheme.
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BSNL VRS Calculator FAQs
How is BSNL VRS calculated?
According to sources is it said that the BSNL VRS scheme would be based on the Gujarat pattern, and the VRS benefits of BSNL and MTNL employees will be calculated on salary, and this means the formula would be Basic Salary + Industrial Dearness Allowance of the last month (Retirement) in service.
How is the VRS amount calculated?
The VRS amount is limited to an amount that is equal to three months’ salary of each completed year of service. Another way of calculation is the salary at the time of retirement multiplied by the rest of the months of use before expected retirement. VRS amount up to Rs. 5 lakhs is exempted from tax.
What is the BSNL VRS package?
The state-run telecom operator BSNL recently declared a voluntary retirement scheme ( VRS ) for its employees. The plan, known as BSNL Voluntary Retirement Scheme 2019, is part of the Rs 69,000-crore cabinet-approved revival package for the ailing BSNL and MTNL.
How much pension do BSNL employees get?
Rs 17,169 crores will be allotted as ex gratia for the retirees. Rs 12,678 crores will be disbursed as pension allotment. The amount of exgratia for any eligible employee will be equal to 35 days’ salary for each completed year of service and 25 days’ salary for every use left until superannuation.
