KSRTC considers mandatory VRS to reduce salary expenses, prepares list of 7,200 employees
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Thiruvananthapuram: In an attempt to resolve its financial crisis, the Kerala State Road Transport Corporation (KSRTC) is attempting to introduce mandatory Voluntary Retirement Scheme (VRS) for its employees.
The management has prepared a list of 7,200 employees aged above 50 years for the purpose.
A minimum amount of Rs 15 lakh will be provided to those who opt for the scheme. The rest of the benefits will be provided post retirement.
The KSRTC management estimates a reduction of around 50 per cent in salary expenditure if this is implemented.
The KSRTC has around 24,000 employees. If a few employees are removed from the service through VRS, the corporation can avoid approaching the Finance Department for salary payments.
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