Also, they would be eligible for encashment of leaves including casual, earned and privilege leaves. Employees who opt for voluntary retirement will be eligible for medical benefits under Post Retirement Medical Benefit Scheme. Repatriation expenses, as payable in case of retirement, will also be paid. Employees opting for VRS would be eligible to receive a compensation payment equivalent to two months' salary for each completed year of service or the monthly salary at the time of voluntary retirement multiplied by the balance months of service left before normal data of retirement on superannuation, whichever is less It, however, excludes active sportspersons (employees recruited as sportsperson who are yet to be deployed in mainstream) and board level executives. All employees who have completed 45 years of age will be eligible for the scheme, according to the VRS notice accessed by PTI. 5 to 10 per cent of employees are expected to opt for VRS. So this scheme offers them an exit option. Some employees feel their role, position or place of posting may change once BPCL is privatised.
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