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'VOLUNTARY RETIREMENT SCHEME’ SALARY AT THE TIME OF RETIREMENT MULTIPLIED BY THE BALANCE MONTHS OF SERVICE LEFT “NOT PAID” WITH 15 YEARS INTREST

 
 
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'VOLUNTARY RETIREMENT SCHEME’ SALARY AT THE TIME OF RETIREMENT MULTIPLIED BY THE BALANCE MONTHS OF SERVICE LEFT “NOT PAID” WITH 15 YEARS INTREST
by System Administrator - Tuesday, 2 August 2016, 6:08 AM
 

By: M.S.Yatnatti: Editor and Video Journalist Bengaluru : Voluntary retirement scheme is a method used by Government companies and co-operative societies to reduce surplus staff similarly 66 Employees of Malleshwaram Co-operative Society Limited are eligible for VRS scheme . This mode has come about in India as labour laws do not permit direct retrenchment of unionized employees .The amount receivable on account of voluntary retirement of the employee does not exceed the amount equivalent to three months' salary for each completed year of service, or salary at the time of retirement multiplied by the balance months of service left before the date of retirement on superannuation of the employee. It is the last salary drawn which is to form the basis for computing the amount of payment .Most public and private sector companies have implemented VRS in recent years. Wieghtage of 5 year service is given and consequently employee will get five years additional gratuity and other benefits and get five year additional bonus .A false statement made with deliberate intent to deceive 66 Employees of Malleshwaram Co-operative Society Limited in respect of their VRS The amount receivable on account of voluntary retirement of the employee does not exceed the amount equivalent to three months' salary for each completed year of service, or salary at the time of retirement multiplied by the balance months of service left before the date of retirement on superannuation of the employee and additional retirement benefits like Gratuity for five years Wieghtage , Additional leave encashment for five years Wieghtage , additional bonus for five years Wieghtage andStrike Period Salary and Balance salary as on retrenchment date with fifteen years interest .Suspend the liquidator and institute disciplinary Acton against Sri Narsimhamurthyliquidator or face lokayukta SIT enquiry as the liquidator of Malleshwaram Co-operative Society Limited has lied and provided false and fabricated documentstoGovernment of Karnataka and KSHRC ( HRC 1759/14 B-II ) and Lokayukta and Co-operation Department stating that all retirement benefits have been paid in respect of66 Employees of Malleshwaram Co-operative Society Limited whereas all VRS benefits were actually not paid. . But the fact and truth is different .As per the law these payments weredue with interest for delayed payments as Liquidator has not made any payments of additional retirement benefits on account of VRS like Gratuity, leave encashment, bonus andStrike Period Salary and Balance salary as on retrenchment dateor compulsory retirement or forced retirement date since2000 as the records available with the department .Now liquidator has to pay dues as on 2000 plus interest payments for 15 years 10% compounding per year .Like National Human Rights Commission (NHRC) KSHRC also should take serious view of delay in disbursement of retirement benefits, including pension and gratuity, to an employees of Malleshwaram Co-operative Society Limited pass orders for payment of retiral benefits with 15 years of interest for delayed payments without further loss of time as among 66 employees all are old age and dying one by one without retiral benefits. VRS applies to an employee who has completed 10 years of service or is above 40 years of age. ?It should apply to all employees (by whatever name called), including workers and executives of a company or of an authority or of a co-operative society, excepting directors of a company or a co-operative society.

Whereas Taking a serious view of delay in disbursement of retirement benefits, including pension and gratuity, to an employee of the Bharat Sanchar Nigam Limited (BSNL), the National Human Rights Commission (NHRC) has issued directions for an inquiry into the matter for fixing responsibility of the officials concerned. But Karnataka State Human Rights Commission has registered a case against liquidator and cooperation department for human right violations under HRC 1759/14 B-II But till today it has not passed orders against liquidator and cooperation department for human right violations and had not issued directions for an inquiry into the matter for fixing responsibility of the officials concerned for non payments of VRS retirement benefits like Gratuity, leave encashment, bonus andSrike Period Salary and Balance salary as on retrenchment or compulsory retirement or forcedretirement benefitsand any other benefit payable at the time of the retirement in the year 2000 and interest payments for 15 years of delay in paying Retrial Benefits since the years 2000 till date .Joint Registrar co-operative Societies and Liquidator has not paid Pension or retirement benefits like Gratuity, leave encashment, bonus and Srike Period Salary and Balance salary as on retrenchment or compulsory retirement or forcedretirement benefitsand any other benefit payable at the time of the retirement in the year 2000 to Malleshwaram Co-operative Society Limited. As Supreme Court orders interest is not paid since 2000 and Revised Gratuity payments is not paid as per Karnataka high court order (Three Benches) on 17-11-2003 in N.S. Srinivasamurthy And Ors. vs The Registrar Of Co-Operative ... on 17 November, 2003 in respect of Malleshwaram Co-operative Society LimitedAnd Joint Registrar co-operative Societies and Liquidator need to pay interest for about 15 years on delayed paymentsas per Supreme Court of India H. Gangahanume Gowda vs Karnataka Agro Industries ... on 5 February, 2003 and The citations have been filed before Deputy Directorcourt with separate memo on 13-05-2016 with citations and report of National Human Rights Commission of India in respect of"Retiral Benefits as a Human Right: NHRC Initiatives”.

The Supreme Court's influence in the socio-political sphere of our country is undeniable and almost hallowed in quality. It is predominantly with the tool of a broadened jurisprudence in enforcing the fundamental rights, guaranteed in the Constitution of India, that it has been able to uphold the ideals enumerated in the Indian Constitution The cardinal responsibility of the State to provide post-retirement benefits to the entitled employee or his family, in full and on time, has come under the scrutiny of the Supreme Court of India in many cases. The decisions of the Supreme Court of India has given the institutions in India an insight into the methods and means to uphold the sanctity of the right to receive pensionary benefits in India. It is with this spirit that the National Human Rights Commission reads the denial of retirement benefits as a violation of the right to life and dignity, thus leading the country's nodal agencies in the understanding that pension or the retiral benefits may be the only source of livelihood and means of survival for a family; hence nonpayment of these benefits has devastating effects on their lives. If these retirement benefits are not paid to them, the very survival of the retired employee or next-of-kin, and/or family members of the National Human Rights Commission deceased employees comes under question, in blatant violation of their human rights. The following are

Pension or retirement benefits like Gratuity, leave encashment, provident fund or any other benefit payable at the time of the retirement is to be made on the day of retirement or within a stipulated time period, in case of termination of the contract of employment due to voluntary retirement, retrenchment, layoff etc., to the employees, and in case of death of the employees during the course of employment or in employment, to his nominee or next of kin, within a stipulated or reasonable time period, where it is not stipulated. If not provided within this time period, interest is to be paid on the delayed payments.Retirement benefits are the accumulated savings of a lifetime of service. Denial, non-payment or delayed payment of the same is not only tantamount to denial of an individual's rightful property, but is also a violation of the human rights of the victim and their next of kin wherein their livelihood is affected, often times resulting in untold misery, starvation and poverty.