First time in its history, Air India has announced a Voluntary Retirement Scheme (VRS). HRKatha has access to a copy of the service regulation standing order signed by Suresh Tripathi, CHRO, Air India, offering a VRS to employees.
As per the order, the permanent employees of Air India have an option to take voluntary retirement. The eligibility criteria to apply for the VRS is that the employee should have attained the age of 55 years or have completed 20 years of continuous service in the organisation.
Additionally, for certain employees, the Company has relaxed the eligibility age bracket of 55 years to 40 years.
These include cabin crew members who are in grades “S-3, S-5, S-7, E-0, E-1, E-2, E-3, E-4 and E-5”, clerical and allied staff who are in grades “S-2, S-5, S-6 and S-7” and unskilled employees belonging to grades “S-1, S-2, S-3, S-4 and S-5”, as mentioned in the order.
Moreover, the airline offers additional benefits to employees who take a VRS early. The order reads that employees, who apply for the VRS between 01 June and 31 July, 2022 are eligible for an ex-gratia amount. Those who choose to apply for the same between 01 June and 30 June will receive an incentive over and above the ex-gratia amount.
However, the order cautions, “The acceptance of your application for the above benefits and the date of release shall be subject to management’s discretion”.