Socio - economic implications of voluntary retirement scheme a study of select undertakings in Andhra Pradesh Dr. Gopalasudarshanam, Associate professor School of Management Sciences, Nalla Narasimhareddy Educational Society's Group of Institutions Hyderabad, Andhra Pradesh Online published on 19 October, 2011. Abstract The present study is made to examine the salient features of VR package in the select undertakings. An attempt is also made to analyze the socio-economic implications of VR scheme. This has been evaluated in terms of reemployment of VR employees, their post VR Sources of income, utilization pattern of VR benefits, and impact of VRS on economic and social status. Eventually, the social status of VR employees is also examined. The study has found that 41.78 percent out of 240 VR employees had received compensation between 3–4 lakhs, 31.79 percent of them received between 1–2 lakhs. Hence, it is concluded that together 73.57 percent have received ranging from 1–4 lakhs. The study has also revealed that about 63.21 percent of VR money were spent on unproductive purposes like redemption of old debs, marriage of children (especially female) and discharging some social-obligation. Regarding to post VR income level, a large proportion (75%) of workmen category has slipped down to the income level of below 3000. Further, the majority of the VR optees have opined that the ex-gratia should be increased to 60 days foe vey completed year of service instead of 45 days, monthly pension which assure regular and dependable source of income of the family should be introduced and subsidized medical facilities should also be provided to the VR optees and to their family members for entire life span. Joint insurance scheme, exit interview mechanism and counseling & training facilities may prevent them from exposing themselves for bad and evil socio – economic implications. Top Keywords VRS, Exist policy, socio-Economic status, deployment and compensation package. Top |