Fake News spreading on social media and newspapers that BSNL is going to shutdown and Employees will be thrown out of the company.
Rumours gone to peak level that Employees are in tension and believing on fake news wondering in confusion that they wont get salary and benefits on applying VRS.
Following Tuesday's late evening intervention by the Prime Minister Office (PMO), the Department of Telecommunications (DoT) has sent the note to the Cabinet without the Ministry of Finance (MoF) response.
According to the Official sources the Narendra Modi government has agreed to provide a credit worth Rs 14,000 crore as an interim relief to the two financially-stressed service providers.
On 23rd October, 2019 in cabinet meeting it is noticed that Revival for BSNL and MTNL is Approved.
In this scenario under Revival package VRS is implemented and above 25% exgratia is to be paid in cash and 40 months salary is paid to those employees between 55-60 years who applies for VRS.
At the same time Salary for employees is paid on 23rd October, 2019, the details is to be explained by Shri Ravishankar prasad to media
1. If Employees opts Exgratia without Income tax then it will be paid in 5 installment otherwise income tax will be deducted for instant payment.
The formula for Ex-gratia will be 125% of the salary for the remaining period less Pension,
2. The Employees having 56 years and having 4 years left out service will get full Salary benefits i.e upto a maximum of 40 months salary.
3. Leave Encashment & Pension (without Commutation) will be paid at the time of VRS but the Gratuity and Commutation Value of Pension Payment will be deferred till they attain the age of Superannuation (i.e., 60 Years) or 5 years after VRS, whichever is earlier. During the intervening period from the date of VRS to the date of attain the age of 60 Years, Employees will get interest @ 8% on their Gratuity amount.
4. 4G Spectrum will be allotted to BSNL
5. Immediate Financial Support is also under consideration.
Rumours gone to peak level that Employees are in tension and believing on fake news wondering in confusion that they wont get salary and benefits on applying VRS.
Following Tuesday's late evening intervention by the Prime Minister Office (PMO), the Department of Telecommunications (DoT) has sent the note to the Cabinet without the Ministry of Finance (MoF) response.
According to the Official sources the Narendra Modi government has agreed to provide a credit worth Rs 14,000 crore as an interim relief to the two financially-stressed service providers.
On 23rd October, 2019 in cabinet meeting it is noticed that Revival for BSNL and MTNL is Approved.
In this scenario under Revival package VRS is implemented and above 25% exgratia is to be paid in cash and 40 months salary is paid to those employees between 55-60 years who applies for VRS.
At the same time Salary for employees is paid on 23rd October, 2019, the details is to be explained by Shri Ravishankar prasad to media
1. If Employees opts Exgratia without Income tax then it will be paid in 5 installment otherwise income tax will be deducted for instant payment.
The formula for Ex-gratia will be 125% of the salary for the remaining period less Pension,
2. The Employees having 56 years and having 4 years left out service will get full Salary benefits i.e upto a maximum of 40 months salary.
3. Leave Encashment & Pension (without Commutation) will be paid at the time of VRS but the Gratuity and Commutation Value of Pension Payment will be deferred till they attain the age of Superannuation (i.e., 60 Years) or 5 years after VRS, whichever is earlier. During the intervening period from the date of VRS to the date of attain the age of 60 Years, Employees will get interest @ 8% on their Gratuity amount.
4. 4G Spectrum will be allotted to BSNL
5. Immediate Financial Support is also under consideration.