Pakistan Telecommunication Company Limited (PTCL) has introduced a people centric Voluntary Separation 2016 Package for its employees. PTCL being a responsible company has always considered its employees welfare as an integral part of its planning structure. PTCL is getting people centric with Voluntary Separation Scheme whose first and foremost purpose is to offer incentives for its people well being.
Effective November 28, 2016, the scheme is expected to be availed by around 3000 employees.
PTCL Getting People Centric with Voluntary Separation Scheme 2016
Speaking to the reporters, Syed Mazhar Hussain, Chief Human Resource Officer PTCL, said:
“The previous Voluntary Separation Scheme was greatly appreciated by employees as it offered a very lucrative package. In the last Scheme of 2014, we could not relieve all the employees who opted for this scheme, since business could not let go of such a sizable employee base at once, and risk stalling operations. However, with the successes reaped from the previous schemes and improved company performance, PTCL is now in a better position to offer this scheme to around 9,000 employees and can manage to relieve around 3,000 employees”
Salient features of the VSS scheme 2016 are;
Main Features of VSS 2016:
- Terminal benefits will consist of two options of commutation (With Pension+Medical and Lump Sum payments).
- Pension Age has been further decreased from 20 years of service to 18 years of service period.
- For NCPG -New Compensation Pay Group employees 4 times more gratuity
- Payment of Allowances of 5 Months for BPS and 15 months for NCPG employees.
- Early bird Allowance of Rs.2,00,000 for all VSS optees whi will apply latest by 15 December 2016.
- Leave Encashement of 180 DAys (6 Month) for each employee.
Who can Avail VSS 2016?
All NCPG and BPS Employees Grade 1-20 can avail this scheme having age less than 58 Years.