FACILITIES AND BENEFITS AVAILABLE TO RETIRING EMPLOYEES

Transcription

1 FACILITIES AND BENEFITS AVAILABLE TO RETIRING EMPLOYEES ENGINEERS INDIA LIMITED NEW DELHI

2 FACILITIES AND BENEFITS AVAILABLE TO RETIRING EMPLOYEES PORTAL FOR RETIRED EMPLOYEES Website important forms are available on the website - All 1. Payment of Salary, Gratuity, Provident Fund, etc. All dues comprising salary, gratuity and PF accumulations become payable following superannuation after completing all required formalities. 2. Leave Encashment Encashment of EL accrued till the date of superannuation upto a maximum of 300 days is permissible with no restriction on SL accumulation. However the encashment of SL is upto %. & above %. This is as per leave encashment rules as amended from time to time. 3. Leave Travel Concession Encashment of un-availed LTC blocks including current block(on pro-rata basis) under IDA pattern is allowable. Addl. GM & above are allowed to avail the last LTC block due to them within one year of their retirement. No advance is given for availing the last block of LTC. 4. Retention of Company accommodation On request employees provided with residential accommodation owned by the Company may be allowed to retain the accommodation for a maximum period of 4 months for superannuating employees and two months for those leaving under VRS. 5. Pension Scheme(EPS-95) The Scheme is administered by the Regional Provident Fund Commissioner. Personnel Division acts as nodal agency for completing all related formalities, whereas all the contributions are remitted by the F&A to RPFC under the scheme. It is to be noted that the Pension under Employee s Pension Scheme 1995 becomes payable from the age of 58 i.e. two years before the date of superannuation (60 years). 6. EIL Employees Defined Contribution Superannuation Scheme The retiring employees who are member of the defined contribution superannuation scheme are entitled for pension benefits from LIC as per the accumulated corpus available in the employees individual accounts depending upon the option exercised by employee. The scheme is being administered by the EIL Employees Defined Contribution Superannuation Pension Trust (EIL Employees DCS Pension Trust). The detailed scheme is available in the HR website at hr

3 7. Performance Related Pay (PRP) Payment of PRP is made on pro-rata basis provided the employee has served for a minimum period of 30 days in the financial year. 8. Holiday Home facility Holiday Home facility shall be extended, subject to availability after meeting the requirements of the existing employees on the same rates as applicable to regular employees of the Company. However, EIL Guest House facilities can not be extended as per the decision of the Company. 9. Post-retirement medical coverage Retiring employees who have put in a minimum of ten years service in the Company are eligible for post-retirement Medical Coverage for self and spouse as per Company rules. The amount admissible for reimbursement for self and spouse for outdoor treatment and conditions for indoor treatment will be as per the provisions of the Company rules. There will be no reimbursement of OPD treatment in respect of retired employees as long as they are having regular/full time/gainful employment, For the purpose all retired employees, covered under the scheme, having monthly income (all-inclusive) from post of retirement employment, more than 50% of the maximum of the pay scale from which they retired, will be deemed to be in regular/full time/gainful employment. The retiring employees are required to submit the Annual Declaration Form for medical facilities under PRMCS within 30 days after retirement and give the reemployment status. The retired employees are also required to intimate the Company in case of taking up of any post retirement employment alongwith the copy of offer of appointment for further regularizing the medical benefits admissible under the Post Retirement Medical Coverage Scheme. 10. Permission for taking up Employment Post Retirement (for Board level Appointees): Appointees at the Board Level on retirement shall not accept any appointment or post, whether advisory or administrative, in any firm or Company, whether Indian or foreign, with which the Company has or had business relations, within one year from the date of retirement without prior approval of the Government. The term retirement includes resignation, but not the case of those whose term of appointment was not extended by Government for reasons other than proven misconduct. The term business relations includes official dealings as well.

4 A bond shall be furnished by the Board appointees at the time of employment/ resignation/retirement for an amount not exceeding 3 months basic pay as damages of any violation or restriction. 11. Travelling Allowance An employee on retirement will be eligible for Travelling Allowance as per TA rules in the scale of pay at the time of retirement for self and family from the last headquarters to the declared home-town, or any other place of settlement in India, subject to the entitlement being limited to what would have been admissible had he proceeded to his declared home-town. Employees on retirement are reimbursed expenses actually incurred on travel fare and baggage including lumpsum transfer allowance and outstation expenses as per existing T.A. rules on furnishing necessary proof regarding transfer of residence, such as (i) ration card at the new place of residence, or copy of new gas connection/transfer of previous gas connection; and (ii) rent receipt/lease agreement; or proof of ownership of house if residing in self-owned house. The arrangement for transportation of personal effects etc. will be arranged by Shipping Department of the Company (for HO employees) / by the respective office on receipt of necessary intimation duly forwarded by the Personnel Division/FPC alongwith the list of personal effects, tentative date of shifting and the address of the location where this is to be transported. Payment will be made directly by the Company to the transporters on receipt of expense report to be furnished by the retired employees alongwith the challan of the transporter duly certified by the retired employee. Reimbursement of travel fare, travel incidentals and local conveyance expenses in respect of onward journey by the employee and dependent members of his/her family, to the declared home-town or any other place in India by the entitled class, restricted to 2 nd Class AC Sleeper rail fare upto home-town only in case they actually visit that place and submit the requisite proof as per rules. Note: The facility as per of TA rules may be availed of by retiring employee: (a) (b) (c) during leave preparatory to retirement, or during refused leave, or within six months of the date of retirement. Employees should shift to the new location where they plan to settle on retirement and claim TA on transfer scale as admissible in the rules within six months from the date of their retirement. Requests under exceptional circumstances, if approved by competent authority, will also be limited to a maximum period of three months. 12. POST RETIREMENT SETTLEMENT ALLOWANCE Payment of Post-Retiral Settlement Allowance equivalent to 45 days cash allowance and 50% of lumpsum transfer allowance as admissible under under TA Rules, on certification of the expenses actually incurred by the retired employees on this account, irrespective of change of residence within the headquarters station being involved or not

5 (Please refer to para of TA Rules). (The claims are to be made within six months of retirement failing which the same shall expire and shall not be entertained under any circumstances whatsoever. 13. Company Library The Company Library facility can be availed for reference purposes only. 14. House Magazine & Telephone Directory A copy each of Company's magazines namely 'Hamara EIL & vki vksj ge (Aap Aur Hum) will be mailed regularly to keep the retired employee aware of the developments taking place in the Company from time to time. A directory of important EIL telephone numbers and addresses of EIL offices within India and abroad will also be supplied. 15. Change of address Retiring employees should intimate their contact address, id and telephone number to the Coordination Officer at the time of their release. Change, if any, in the permanent/contact address or any relevant information in future should be intimated promptly to the Ex-employee cell, EIB, New Delhi. 16. Coordination Officer at Headquarters In case of any help required by the superannuating employees Shri A Bhowmik, AGM (HR), EI Annexe-3 rd floor, New Delhi (I.com 2134 & e_mail: a.bhowmik@eil.co.in) for HO employees and Dr. M Y Ali, AGM (HR), FPC, R&D Complex, Gurgaon (Phone No & e_mail: my.ali@eil.co.in) for outstation/sites employees. 17. Ex-Employee Cell An Ex-Employee Cell situated at UG Floor, EIB has been providing assistance to exemployees in matters pertaining to their affairs. Shri RC Naithani, Dy. Manager (Incharge- Ex employee cell), may be contacted at I.Com no and rc.naithani@eil.co.in for any assistance. * * * * *