ANNEXURE-I

BHARAT PETROLEUM CORPORATION LIMITED

VOLUNTARY RETIREMENT SCHEME (BPVRS-2020)

The Corporation has decided to re-offer a Voluntary Retirement Scheme, with a view to enable
employees, who are not in a position to continue in service of the Corporation due to various
personal reasons, to request for grant of Voluntary Retirement from the services of the
Corporation, subject to their complying with the terms and conditions of the Scheme.

Employees are requested to note that in all such cases, the Management reserves its right to decide
acceptance or rejection of such requests without assigning any reasons whatsoever.
The following rules are laid down for administration of the Voluntary Retirement Scheme to
provide for the voluntary retirement of employees and payment of the terminal benefits including
compensation payment:-

1. TITLE:

The Scheme will hereinafter be known as ‘Bharat Petroleum Voluntary Retirement

Scheme - 2020 (BPVRS-2020)’ and the rules may be called Bharat Petroleum Voluntary
Retirement Rules.

2. ELIGIBILITY:
All employees, (excluding active Sportspersons (employees recruited as Sportspersons who
are yet to be deployed in mainstream) and Board level Executives), who have completed 45
years of age will be eligible for the scheme. Determination of age for this purpose will be as
applicable on the date of closing the Scheme i.e. 13.08.2020.

Employees who are on deputation to JVCs and elsewhere would also be eligible for the
Scheme. However, acceptance of the application will be done after consultation with
Management of JVC.

3. THE SCHEME SHALL NOT APPLY TO Those :

a) In casual/contract employment, if any;

b) On deputation from other Organizations;
c) Deputed to other Organizations and opting for permanent absorption in those
Organizations.

4. DEFINITIONS :
In these rules, unless specified otherwise or context otherwise requires -
(a) “Basic Pay” shall mean Basic Pay + Stagnation Increment, if any applicable as per
pay scale relevant to the Job Group / Grade.

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 (b) “Board” means the Board of Directors of the Corporation and includes, in relation to
the exercise of powers, any Committee of the Board or any Officer(s) of the
Corporation to whom the Board delegates any of its powers.
(c) “Chairman” means the Chairman & Managing Director (C&MD) of the Corporation
or any other officer who holds charge of the administrative functions of the Chairman
for the time being.
(d) “Competent Authority” means the authority/ authorities empowered to grant
voluntary Retirement.
(e) “Corporation” means the Bharat Petroleum Corporation Limited.
(f) “Director” means a Functional Director of the Corporation or any other Officer who
holds charge of the administrative functions of a Functional Director for the time
being.
(g) “Directors Committee” means a committee of Directors and where required other than
the Director of the Function to which the employee belongs.
(h) “Employee” means a person in the regular employment of the Corporation in a
prescribed scale of pay, but shall not include:
i) Casual or muster roll appointees
ii) Any person on deputation to BPCL
iii) Those appointed on contract basis
iv) Those deputed to other Organisations and opting for permanent absorption in
those Organisations.
(i) “Form” means a form appended to these rules referred as “Application for Bharat
Petroleum Voluntary Retirement Scheme (BPVRS) – 2020”.
(j) “Salary” shall mean Basic Pay plus Stagnation Increment/s and Dearness Allowance
applicable at the time of release.
(k) “Scheme” means the Bharat Petroleum Corporation Limited Voluntary Retirement
Scheme - 2020.
(l) “VRS Index” means product of Total service in BPCL and Age.

5. VRS SCHEME:

(a) VRS Scheme will remain open from 23.07.2020 to 13.08.2020 and Employees can
withdraw their VRS application on or before 20.08.2020.

(b) Any eligible employee who wishes to avail of Voluntary Retirement under VRS will have
to apply in writing in the prescribed ‘Form’ (Exhibit I) on or before 13.08.2020 (close of
work).

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 (c) The criteria for deciding on the applications would comprise of 3 main factors, viz. age,
academic qualifications and performance, as reflected in PMS/Annual Performance
Appraisal in case of workmen. The weightages associated with each of the eligibility
criteria are given in Exhibit II.

(d) Requests for VRS will be considered at the discretion of the Management to employees
with score of Five (5) & above, subject to meeting the other terms and conditions of VRS
scheme. Fulfilling the eligibility criteria does not mean that the requests of an individual
for voluntary retirement would be necessarily accepted. While deciding on the
applications, factors like ultimate growth potential of the individual, his/her health
condition etc., will be taken into account.

(e) To maintain adequate manpower across all cadres and grades for smooth running of the
Corporation and to minimise erosion of required talent, overall VRS grant shall be limited
to a certain overall number of employees through adequate proportionality among cadres
and age bands of applicants, along with applying the VRS index

(f) Employees of all cadres above the age of 45 who do not secure the minimum eligibility
score of 5 (five) for VRS approval and who are facing any severely grave personal
circumstances related to Self or Spouse/children which hamper him/ her from effectively
discharging their duties, etc. will be provided an additional consideration, subject to a
maximum of twenty five persons all India. Such applicants have to provide a brief note
explaining the circumstances and must provide supporting documentary evidence.

Management will consider employee’s eligible for consideration of such circumstances as

mentioned above only if the Committees approving the same are satisfied with the
evidence submitted to them by such a VRS applicant. Family for this purpose shall mean
self, spouse, child / children, only. In case any employee has any extenuating reasons for
seeking VRS, he/ she must mention it clearly in the VRS application and provide
documentary evidence for the same. These requests will be decided upon by the
Approving Committees and if any additional information is required, the same shall be
sought from the employee.

(g) Employees have to submit their request for VRS online (myPortal  Employee Services
 myInfo  VRS Application), or offline as the case may be, and then the application
has to be forwarded to the respective Regional HRS / CGM (HR)-Mumbai Refinery /
CGM (HR), Kochi Refinery, as applicable, through the immediate Officer/Line Manager.

(h) In accordance with para 5 (e) above , the Management reserves the right to accept/reject
any application without assigning any reason whatsoever. Acceptance of VRS
applications will be based on the Management decision and shall be subject to the overall
approved costs and overall headcounts involved.

(i) All the applications received would be scrutinized by the Management and the acceptance
or rejection of the application would be communicated to the concerned employees after
the application withdrawal date.

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 (j) Acceptance would be on the basis of the rationale mentioned in the previous paragraphs,
as applicable to each eligible applicant as on the VRS closing date and as approved by the
Competent Authority.

(k) All employees, whose applications are approved for grant of VRS would be voluntarily
retired as employees of the Corporation with Thirty (30) days’ notice from the date of
issue of acceptance letter.

6. BENEFITS :

VRS employees would be deemed to have voluntarily retired from the Corporation’s service
from the date of release (as per acceptance letter) on the following terms and conditions.
They would not be eligible for any benefits other than those mentioned below:-

(a) VRS Compensation: Employees opting for VRS would be eligible to receive a
compensation payment equivalent to two months’ salary for each completed year of
service or the monthly salary at the time of Voluntary Retirement multiplied by the
balance months of service left before normal date of Retirement on superannuation,
whichever is less. Compensation for any part period served in a year will be worked
out on pro-rata basis. The Salary drawn as on date of release shall be reckoned for this
purpose.

Past service rendered in Public Sector Undertakings (PSUs) would be reckoned for the
purpose of completed years of service only if the service with each PSU is continuous
(a gap not exceeding three months between end of service in such Public Sector
Undertaking and commencement of service in the Company shall not be deemed to be
a break or intervention of service, unless during this period, the employee was
employed with another employer) and only if the PF & Earned Leave have been
transferred from such PSUs to BPCL along with proof thereof.

In the case of Non-Management employees, after the Long Term Wage Settlements are
signed, the VRS compensation shall be re-calculated on the basis of revised pay and
the difference, if any, shall be paid.

(b) Notice Pay, Repatriation Expenses & Medical Expenses: Notice pay of thirty (30)
days, as per service conditions applicable to the employees, shall be paid if the due
notice is not given.

Repatriation Expenses, as payable in case of retirement, will also be paid, if eligible as

per the normal rules/procedures, wherever applicable.

Employees who opt for Voluntary Retirement will be eligible for medical benefits
under Post Retirement Medical Benefit Scheme as per applicable scheme/rules, with
immediate effect from their date of Voluntary Retirement subject to annual declaration
that they are not gainfully employed, whole time and / or availing medical benefits

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 along with any required proof in this regard, such as Form 26AS, etc. If they are
gainfully employed post VRS release, medical benefits coverage will start only after
reaching age of 60 years.

(c) Encashment of leave: On date of release, following leave shall be encashed and paid:-
- Casual Leave (on pro-rata basis upto date of release)
- Earned Leave (Management Staff) – Balance upto a maximum of 300 days.
- Privilege Leave (Non-Management) – Balance upto a maximum of 300 days.
- Half Pay Leave (New) Management Staff – Balance subject to maximum of 300
days inclusive of Earned Leave
- Half Pay Leave (Frozen) Management Staff – Balance after commuting to full pay.
- Sick Leave (Non-Management) – Balance subject to a maximum of 240 days.

(d) Settlement of Loans: VRS optees will be required to settle all outstanding loans/other
dues with interest, as per the norms applicable to any other staff separating from the
Corporation.

(e) Other benefits: Provident Fund, Gratuity and benefits under Group Saving Linked
Insurance Scheme would be paid as per rules of the respective schemes. Employees
granted VRS would be extended benefits under the Employee’s Contributory
Superannuation Scheme, if they are members of the said scheme. Additionally, benefits
under the Defined Contribution Scheme shall also be applicable, as per rules of the
Scheme.

(f) VRS optees shall not be eligible for Monthly Ex-Gratia payment under ‘Monthly Ex-
Gratia Scheme’ (MEGS), as well as Scheme for Felicitation of retired employees.

(g) Transfer of Assets / Buyback: Buyback of assets under the Schemes shall be
applicable.

7. RELEASE / RIGHT OF REFUSAL:

Release / Right of Refusal: The criteria for deciding upon applications under BPVRS -
2020 are as per Exhibit II. Notwithstanding meeting the eligibility criteria, the release of
employees under BPVRS - 2020 will be decided at the sole discretion of the Management
as per 5(e) above.

Management would, on scrutiny of applications, accept or reject any applications without

assigning any reason. While deciding on the applications, factors like likely contributions
and ultimate growth potential of the individual, his/her professional qualifications,
replacement time, etc. will be taken into account. Management reserves the right to
accept/reject any application without assigning any reason whatsoever.

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8. RESTRICTIONS ON RE-EMPLOYMENT:
VRS optees under the Scheme will not be eligible for employment in the Corporation, it’s
Joint Venture Companies (JVCs) and shall not be engaged as Retainers/ Consultants/
Faculty/ Advisors, etc. on regular basis for Corporation’s work.

VRS optees will be required to seek formal approval of BPCL in case he / she intends to
work for any other Oil and Gas Organization / Company (PSU or Private) within 2 (two)
years of release under VRS.

In case VRS optee joins employment with another PSU, he/ she will be required to return
the VRS compensation to BPCL.

9. COMPETENT AUTHORITY FOR GRANT OF VOLUNTARY RETIREMENT:

Acceptance and approval of the eligible VRS applications shall be the Competent
Authorities for Marketing and Refineries.

10. DEDUCTION OF INCOME TAX:

The Income Tax liability in respect of benefits under the Scheme, if any, shall be entirely
that of the employee and applicable tax will be deducted at source as per applicable Income
Tax rules.

11. GENERAL:
a) This Scheme shall not be applicable to following employees:
i) Against whom disciplinary action or prosecution in criminal court is
pending/contemplated and where the consequence of the disciplinary action is likely
to result in dismissal/termination of service.
ii) Where separation is on account of dismissal, discharge, termination of service or
loss of lien on appointment.
iii) Who have abandoned the service of the Corporation.
iv) Who are due for Retirement within three months from the date of his/her VRS
application.
v) Those who have filed any case against the Corporation and unless the same is legally
withdrawn and closed by the VRS applicants who are signatories to such cases.

b) The Voluntary Retirement Scheme is independent of and without prejudice to the rights
of the Corporation to dispense with the services of employees either under the contract of
employment or under the Conduct, Discipline and Appeal Rules or Standing Orders as
may be applicable to the employees.
c) Payment under the Scheme (i.e. Compensation under VRS mentioned in Para 6 (a) above)
is subject to the Staff vacating Company owned/leased accommodation and clearing in
advance, all outstanding dues.
d) The dependents/relatives of the employees separating under the VRS scheme shall not
have any claim whatsoever for employment in the Corporation or its subsidiaries or Joint
Venture Companies.

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 e) VRS employees would not be eligible for membership of Trombay Club or any other
Clubs on cessation of service/ vacating Company accommodation, whichever is later.
f) The Corporation reserves its right to alter and/or amend any or all of these rules and or the
conditions prescribed for the scheme, from time to time, as deemed fit under the
circumstances.
g) The benefits payable under the scheme shall be in full and final settlement of all claims
whatsoever, whether arising under the scheme or otherwise to the employee (or to his
nominee in case of death). An employee, who is voluntarily retired under the scheme, will
not have any claim against BPCL whatsoever and no demand or dispute will be raised by
him or on his behalf, whether for re- employment or compensation of any other kind.
h) As the scheme is voluntary, it shall not be negotiable and shall not be deemed or construed
as a subject matter of right or contract of service. It will not be a subject matter of any
industrial dispute under the provisions of the Industrial Disputes Act, 1957 and shall not
be cited as a precedent, custom, convention, usage or practice and time in future.
i) It would be deemed for all purposes that employees opting for the BPVRS - 2020
have exercised such an option having fully understood the Scheme and all its terms
and conditions and agreeing to fully abide by the terms mentioned therein as a
comprehensive package basis.

*****

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 EXHIBIT I

APPLICATION FORM
BHARAT PETROLEUM VOLUNTARY RETIREMENT SCHEME – 2020
(BPVRS-2020)
To :
CGM (HR)-MR / CGM (HR)-KR / CGM – NR /
GM (HRS)-SR / GM (HRS)-WR / DGM (HRS)-ER

Thru’ : _____________
(Line Manager)

Dear Sir,

This has reference to the Voluntary Retirement Scheme announced by the Corporation vide
Circular dated 23.07.2020. Having fully understood the Scheme and all its conditions and
agreeing to fully abide by the terms mentioned therein on a comprehensive basis, I hereby
apply for Retirement under Bharat Petroleum Voluntary Retirement Scheme-2020.

My particulars are given below:

1. Name :_________________________________________

2. Designation :_________________________________________

3. Staff No. :_________________________________________

4. Education Qualifications :_________________________________________

5. Location of posting :_________________________________________

6. Name of SBU/ Entity :_________________________________________

7. Date of birth : ________________________________________

8. Details of immediate past : ________________________________________

service rendered in other
PSU/s, if any along with
proof of PF, Gratuity and
leave transfer effected to
BPCL / KRL

9. Date of joining Corporation : ________________________________________

10. Whether occupying Company : _________________________________________

provided accommodation

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 11. Whether facing any Extenuating Circumstances which need consideration (as per para
5 (f) of the VRS Scheme, if yes, provide details with supporting documents)

On acceptance and release under the Voluntary Retired scheme, I will not have any claim against
BPCL whatsoever and no demand or dispute will be raised by me or anyone on my behalf, whether
for re-employment or any other compensation/ benefits.

I understand that the scheme is voluntary, not negotiable and shall not be construed as a subject
matter of right or contract of service. Having fully understood the Scheme and all its conditions
and agreeing to fully abide by the terms mentioned therein on a comprehensive package basis, I
request that my application for Voluntary Retirement may be considered favourably and on
acceptance of the same, my dues may be settled at the earliest as per the Scheme in full and final
settlement of my dues on a comprehensive basis without any further claims on the Corporation.

Yours faithfully,

______________________
Date: ___________ Signature of the Employee

-------------------------------------------------------------------------------------------------------------
(Tear off portion)

ACKNOWLEDGEMENT FOR VRS APPLICATION

Received from Mr/Ms _________________________ (Staff No.________), VRS Application

dated __________ seeking Voluntary Retirement as per the BPVRS-2020 announced by the
Corporation.

Place:

______________________________________
Date: Signature of Immediate Officer / Line Manager

Name:
Designation:

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 EXHIBIT - II
CRITERIA FOR DECIDING UPON VRS
FOR ELIGIBLE EMPLOYEES ABOVE THE AGE OF 45 YEARS

The eligibility criteria is based on 3 factors viz. Education qualifications, age and performance,
as reflected from PMS / Annual Performance Appraisals.

Score on each of the factors is to be calculated in the following manner:-

1 Qualification Criteria

Education Qualification Score

Upto HSC / ITI / NCVT Certificate 4
Graduate / Diploma 3
PG / LLB 2
BE/MBA/CA/Doctorates/M.Tech. or equivalent 1

2 Age Criteria

Age Band Score

58 – 60 4
54 – 57 3
50 – 53 2
45 – 49 1

3 Performance Criteria

Management Staff Non-Management

Average PMS Average PMS Score
Score
Score (5 years) Score (5 years)
Below 80 3 Below 71 4

80 – 83 2 71 – 80 2

84 – 85 1 81 – 90 1

86 & above 0 91 & above 0

For calculation of score under this criterion, average of last 5 years PMS/ Annual
Performance Appraisals ratings will be taken into account i.e. FYs 2015-16 to 2019-2020.

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4 Extenuating Factors
As mentioned in para 5 (f) of the Scheme, additional factor of ‘extenuating circumstances’
will be considered for employees who are having grave personal difficulties which hamper
the employee from effectively discharging their duties.

If employee has any extenuating reasons for seeking VRS, he/ she must mention it clearly in
the VRS application and provide documentary evidence for the same. These requests will be
decided upon by the approving Committees and if any additional information is required, the
same shall be sought from the employee.
The Management reserves its right to accept/reject any application, without assigning any
reason whatsoever.

5 Requests for VRS will be considered at the discretion of the Management to employees with
score of 5 & above, subject to meeting the other terms and conditions of Scheme. Fulfilling
the eligibility criteria does not mean that the requests of an individual for voluntary retirement
would be necessarily accepted. While deciding on the applications, factors like ultimate
growth potential of the individual, his/her health condition etc., will be taken into account in
addition to the reasons mentioned in para 5 (e) of the Scheme.

*****

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