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    Rural Development and Panchayat Raj (CGS.2) Department

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    Amit Mishra
    The government order categorizes the Dharmapuri District Development Corporation Limited under paragraph 4(c) of another order and relaxes one condition to allow for payment of additional voluntary retirement compensation. Four employees of the corporation had already received a minimum payment of Rs. 1.5 lakhs each for voluntary retirement and are now requesting the balance compensation owed. The government decided to accept the proposal to categorize the corporation under paragraph 4(c) and relax the condition to allow payment of the remaining compensation to the four retired employees.

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    Rural Development and Panchayat Raj (CGS.2) Department

    Uploaded by

    Amit Mishra
    35 views2 pages
    The government order categorizes the Dharmapuri District Development Corporation Limited under paragraph 4(c) of another order and relaxes one condition to allow for payment of additional voluntary retirement compensation. Four employees of the corporation had already received a minimum payment of Rs. 1.5 lakhs each for voluntary retirement and are now requesting the balance compensation owed. The government decided to accept the proposal to categorize the corporation under paragraph 4(c) and relax the condition to allow payment of the remaining compensation to the four retired employees.

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    go_1_misc_2008

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    The government order categorizes the Dharmapuri District Development Corporation Limited under paragraph 4(c) of another order and relaxes one condition to allow for payment of additional voluntary retirement compensation. Four employees of the corporation had already received a minimum payment of Rs. 1.5 lakhs each for voluntary retirement and are now requesting the balance compensation owed. The government decided to accept the proposal to categorize the corporation under paragraph 4(c) and relax the condition to allow payment of the remaining compensation to the four retired employees.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    35 views2 pages

    Rural Development and Panchayat Raj (CGS.2) Department

    Uploaded by

    Amit Mishra
    The government order categorizes the Dharmapuri District Development Corporation Limited under paragraph 4(c) of another order and relaxes one condition to allow for payment of additional voluntary retirement compensation. Four employees of the corporation had already received a minimum payment of Rs. 1.5 lakhs each for voluntary retirement and are now requesting the balance compensation owed. The government decided to accept the proposal to categorize the corporation under paragraph 4(c) and relax the condition to allow payment of the remaining compensation to the four retired employees.

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    Voluntary Retirement Scheme - State Public Sector Undertakings - Revised

    Guidelines - Issued - Dharmapuri District Development Corporation Ltd. Relaxation of conditions.


    Rural Development and Panchayat Raj (CGS.2) Department.
    G.O. (Ms) No. 01

    Dated. 07-01-2008
    Read:

    1.
    2.
    3.

    G.O.(Ms) No.14, Rural Development Department dated 21.1.2001


    G.O. (Ms.) No. 158, Finance (BPE) Department dated 13-5-2002.
    From the Project Officer and Member Secretary, Dharmapuri
    District Socio-Economic Development Society
    Letter No.532/04/A.1, dated 31-7-2007.
    ***

    ORDER
    The
    Dharmapuri District Development Corporation Limited had been
    ordered to be wound up in the orders first read above. The Project Officer &
    Member Secretary, Dharmapuri District Socio Economic Development Society in
    the letter 3rd read above has stated that the following employees had opted for
    Voluntary Retirement Scheme and they had been relieved on the Afternoon of
    31-01-2005 and they had been paid a sum of Rs.1.50 lakhs each as the
    minimum exgratia amount:
    1.

    Thiru V.T.Prakash, Junior Assistant

    2.

    Thiru V.Mohan, Driver

    3.

    Thiru M.Ramasamy, Record Clerk

    4.

    Thiri U.P.Anjappa, Office Assistant

    Now they are representing to sanction the balance of compensation/exgratia


    amount. Accordingly, She has requested the
    Government to issue orders for
    categorizing the Dharmapuri District Development Corporation Limited under
    para 4 (c) and to relax the condition (iii) of para 7 of G.O. (Ms.) No.158,
    Finance
    (BPE) Department, dated 13-5-02 for the purpose of Voluntary
    Retirement Scheme.
    2. In G.O.(Ms.) No.158, Finance (BPE) Department, dated 13-5-02 the
    Government had issued revised guidelines for Voluntary Retirement Scheme in
    State Public Sector Undertakings (PSU). The said order classified the Public
    Sector Undertakings as below:
    a)
    State Public Sector Undertakings which are financially sound and
    can
    sustain a Voluntary Retirement Scheme from their own surplus
    resources.

    b) State Public Sector Undertakings which are not financially sound


    but proposed to be kept as a going concern. A State Public Sector
    Undertaking is defined as 'financially not sound' if it satisfies either
    of the following two conditions:(i) Those State Public Sector Undertakings whose net worth has
    been eroded by 50%.
    (or)
    (ii) Those State Public Sector Undertakings which have incurred
    loss for the last 3 consecutive years.
    (c) State Public Sector Undertakings which are not financially sound
    and which are proposed to be closed.
    3 The Government have also prescribed the following conditions for
    payment of compensation, in respect of State Public Undertakings falling under
    category (c) of para 4 of the said Government Order:(i)

    the compensation will consist of 30 days salary (Pay + Dearness


    Allowance ) for every competed year of service and 10 days for the
    balance of service left until Superannuation or Rs.2.50 lakhs
    whichever is less in respect of all levels of employees.

    (ii)

    the age and service qualification shall be removed and the criteria of
    minimum period of service left shall be deleted.

    (iii) Atleast 90% of the employees should opt for Voluntary Retirement
    Scheme within one month of the offer or else employees would be
    eligible only for retrenchment compensation. Those employees who
    do not opt for it would get only retrenchment compensation.
    4 The Government also permitted a guaranteed minimum Voluntary
    Retirement Scheme amount of Rs.1.50 lakhs shall be given to the employees of
    State Public Sector Undertakings falling under all the above three categories viz
    (a), (b), (c) of para 4 if the Voluntary Retirement Scheme amount calculated by
    the above formula is less than Rs.1.50 lakhs.
    5 The Government after careful examination have decided to accept the
    proposal of the Project Officer& Member Secretary, Dharmapuri District Socio
    Economic Development Society and order that the Dharmapuri District
    Development Corporation Limited be categorised under para 4 (c) and also
    relaxes the condition (iii) of para 7 of G.O. (Ms.) No.158, Finance (BPE)
    Department date 13-5-02 for the purpose of Voluntary Retirement Scheme.
    6 This order issues with the concurrence of the Finance Department vide
    its U.O. No. 58393/BPE/07, dated 19-10-2007.
    (By Order of the Governor)
    K. ASHOK VARDHAN SHETTY
    SECRETARY TO GOVERNMENT.

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