Hii sir, I Wants to get the Information About the ONGC Voluntary Retirement Scheme will you please provide It ?

Oil and Natural Gas Corporation Limited is an Indian multinational oil and gas company headquartered in Dehradun, Uttarakhand, India


ONGC Voluntary Retirement Scheme

The Government today announced the long pending Voluntary Retirement Scheme (VRS) for the employees of ONGC and Indian Oil Corporation, which would enable both the Oil companies to reduce the employees' strength by around three thousand.

Eligibility for the Scheme :

As per the new scheme, the eligibility criteria would be based on qualifications, age as on April 15, 2008 and performance as reflected from the annual appraisal reports. The period of service would include earlier periods of service in ONGC in case of re-employed persons, as well as earlier service in any government body or public sector undertaking. The stipulations of minimum age or period of service would not apply to persons employed on compassionate grounds.


Scheme Benefit :

ONGC employees who avail VRS would also receive the balance of their provident fund, as well as cash for earned leave, gratuity, notice pay and travel expenses. Employees seeking VRS between the age of 40 and 48 would be given a score of one.