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Bharat Petroleum announces VRS

Our Bureau

Mumbai , April 1

BHARAT Petroleum Corporation Ltd on Thursday announced a voluntary retirement scheme for its employees. The scheme, which opened today, will be on till May 31.

The VRS scheme is the "standard" Department of Public Enterprises (DPE) package approved by the Union Government, a senior BPCL official said.

It involves remuneration equal to two months' salary for every year the retiring employee worked with BPCL, or salary for the remaining number of years of service — whichever is lesser.

"There are no targets for this VRS. We have not decided on how many people should leave. But we do know that there are people in the company who would like to move on for some reason or another. This is an opportunity for them," Mr S.A. Narayan, Director (Human Resources), told Business Line.

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