Every BSNL Employee Will Retire As Millionaire Under VRS; Rs 90 Lakh Highest Payout Estimated!

VRS or Voluntary Retirement Scheme is not so bad, after all, for BSNL employees.

As per a rough calculation done by India Today Group, it has been found that every BSNL employee who opts for the VRS program, will retire as a millionaire.

As of now, more than 80,000 BSNL employees have opted for the VRS package, and it is expected that out of 1.63 lakh employees, 80% or 1 lakh will opt for the same.

Every BSNL Employee Will Retire As Millionnaire?

As per the rules of VRS offer, every employee who is aged above 50 years, is eligible to opt for it, and retire. Govt. has promised to provide a lumpsum amount for months remaining in service, and also pay gratuity, earned leave, and monthly pension.

Now, on an average, we can assume that a typical BSNL employee with 20 years of experience will earn Rs 75,000, per month.

In case that employee (with Rs 75,000/month salary), is aged 50 years, and opts for the VRS package, then he will get a lumpsum amount of Rs 90 lakh: Rs 9 lakh per year salary, multiplied by 10 years of remaining service.

If that employee is aged 55 years, then he will get Rs 45 lakh as lumpsum amount for choosing VRS.

BSNL right now spends Rs 1200 crore every month of employees’ salary, and Rs 75000 per month salary for an experienced employee is a standard.

Note here, that BSNL hasn’t revealed the amount which employees will get under VRS package, and have promised to keep that information private, forever.

BSNL Will Save Rs 7000 Crore Under VRS

As of now, more than 80,000 employees of BSNL, and 13,000 employees of MTNL have chosen VRS scheme, under the current form.

And 80%  of the BSNL employees are aged 50 years and more.

Hence, if every one of these 50 years+ aged employees choose VRS package, then BSNL is expected to save Rs 7000 crore in wage bill alone.

Interestingly, as per incoming reports, BSNL will also raise tariff for mobile data and voice calls, thereby joining Airtel, Vodafone, Jio in tariff hike.

We will keep you updated, as more details come in.