FAQs ON VOLUNTARY RETIREMENT SCHEME

November 15, 2021 by sawani_admin Blog 0 comments

FAQs ON VOLUNTARY RETIREMENT SCHEME

Some of the questions as follow,

1. Can an employee withdraw from VRS after opting for the same?

Ans: Yes, an employee can withdraw from VRS but before its acceptance by the Company.

2. Is Govt. Permission required for declaring VRS?

Ans: No, for introducing VRS or VSS (Voluntary Separation Scheme), no permission is required to be taken from the appropriate Govt. since under Labour Laws VRS or VSS are neither prohibited nor regulated. However, th Scheme so introduced should be in consonance with the provisions as laid down under Income tax Act.

3. Can Management restrain employees from withdrawing the VRS application once submitted?

Ans: No, Management, can not be legally allowed for not allowing employees to withdraw their VRS option.

4. Can Management have the discretion to accept or reject the VRS application of employee, thereby choosing the persons for VRS?

Ans: Yes, Management has full discretion and authority to select the employee for VRS. However, it all depends on VRS T&C.

5. Can an employee raise industrial dispute of his reinstatement after opting for VRS and receiving the benefits under VRS?

Ans: No, such a person, after accepting and receiving the benefits under VRS can not raise any industrial dispute.

6. Forceful acceptance of VRS, can it be challenged by keeping VRS money with self?

Ans: No, such person can not challenge the same by keeping VRS money with himself. For raising the dispute, he/she has to repay back the money to the Company with reason for refunding such money.
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