Over 54,000 PSU employees opted for VRS in 2001-02

Over 54,000 public sector employees opted for voluntary retirement scheme in 2001-02, Rajya Sabha was informed on Monday.

Of the 54,371 employees of 120 public sector companies wheo opted for VRS in 2001-02, the highest number, 10,539, was in Coal India Ltd and its subsidiaries, Minister for Heavy Industries & Public Enterprises Balasaheb Vikhe Patil said in a written reply to the Upper House of Parliament.

In the same year, 3340 employees opted for VRS in Bharat Heavy Electricals Ltd, 1118 in Bharat Heavy Plate and Vessels Ltd, 3823 in Burn Standard Co Ltd, 1561 in Cement Corporation of India, 2250 in Hindustan Copper Ltd, 1239 in Hindustan Steel Works Construction Ltd, 2226 in Hindustan Zinc Ltd, 2155 in HMT Ltd, 1213 in ITI Ltd, 1473 in Mining & Allied Machinery Corp and 6510 employees opted for VRS in Steel Authority of India Ltd.

Patil said the government has introduced liberalised VRS to enable PSUs to optimise their manpower.

To another question, he said protection of employees' interest was an integral part of the divestment policy.

"Adequate provisions are made in the transaction agreements, executed as part of strategic sale, to ensure protection of employees," he said.

"The agreements provide that there is no retrenchment of employees for one year after divestment and even thereafter separation is possible only under the VRS as applicable under DPE guidelines or the VRS, which was prevailing in the company prior to divestment, whichever is more beneficial for the employees," he added.