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A new voluntary retirement scheme (VRS) is coming for Chennai Port Trust employees.
The shifting of iron ore and coal handling to Ennore Port following a Madras High Court order last year has left nearly 5,000 employees redundant, said a source.
The Shipping Ministry approved the Chennai Port Trust’s proposal to introduce the VRS for class I, II, III and IV officer/employees. It is learnt that there are over 7,000 employees at the Chennai port. Priority may be given to those employed in the coal and iron ore handling berths, said a Shipping Ministry communication to the port trust.
The Ministry has suggested that the Chennai Port Trust follow the terms and conditions decided by the Visakhapatnam Port Trust on the eligibility criteria for the VRS.
The posts falling vacant after implementation of the scheme will be deemed to have been abolished, and not be filled again, the Ministry said.
VRS is to be offered to persons with less than five years of service left only if the cash outgo in such case is either less or equal to what he/she would have got at superannuation. The port trust can take a decision at the board level in such cases provided the overall savings are more for the port without any functional balance.
The Ministry has asked the port trust to furnish a VRS implementation report at the earliest.
According to a source, representatives of the various unions on the port trust board seem to have objected to the VRS.
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