Visakhapatnam: The Voluntary Retirement Scheme (VRS) employees of Vizag Steel Plant (VSP) have approached the court seeking their pending arrears, as the plant management has not settled the amounts even one year after they opted for voluntary retirement.
Court Appeal for Pending Amounts
The employees urged the court to send notices to the plant management and order the payment of pending amounts with 12% interest within a week or two. Vexed with the management's attitude, around 130 VRS employees filed a petition, alleging that the plant should settle all financial benefits on the last working day as per rules.
Details of VRS Packages
According to the employees, more than 1,130 employees opted for VRS on March 31 last year and received a 100% retirement package. Another 464 employees took VRS in September last year but received only 50% in two installments. Around 67 employees opted for VRS in March this year and received only a 25% package.
Allegations Against Management
Employees Union Leader of AITUC, Adinarayana, alleged that the plant management diverted the amount sent by the central government for VRS employees. Union leaders claimed that the management has been employing delay tactics in implementing the arrears. "Plant management representatives are not announcing the date for release of pending amounts. On one side, the plant and the ministry announce increased production and profits, but the plant is not paying the VRS employees," they alleged.
