HMSI Brought VRS Scheme For Permanent Employees

HMSI brought VRS for permanent employees, officers of this rank will not get the benefit.

Two-wheeler giant Honda Motorcycle and Scooter India (HMSI) has introduced a scheme related to voluntary retirement (VRS) for permanent employees.

The company has come up with this plan keeping in mind the challenging market conditions. It has been said in a notice issued by the company.

The communication sent by the management of the company to the employees of the Manesar unit states that this VRS scheme is from January 5 to January 23.

The scheme is for permanent employees other than officers at the director level.

By 31 January 2021, permanent employees whose service period will be more than 10 years or whose age will be more than 40 years will be able to opt for this VRS scheme.

According to the communication, officers of director rank will not be able to take voluntary retirement under this scheme.

According to this scheme, senior manager-vice president and permanent workman will be able to get a maximum of Rs 72 lakh. Similarly, a maximum of Rs 67 lakh will be given to the manager.

Rs 48 lakh to the deputy manager, Rs 36 lakh to the assistant manager, Rs 31 lakh to the senior executive, Rs 27 lakh to the executive, and Rs 15 lakh to the assistant executive.

The company has said that the first 400 employees to adopt this scheme will be given an additional amount of Rs five lakh.

In the letter sent to the employees, the management said that the Indian automobile industry is facing a challenging situation due to declining sales due to Covid-19.

The company said that in these challenging circumstances, management is trying to streamline the company’s operations and production-related activities.

It has been said in this communication that in order to remain relevant in the most competitive market of the country, it is necessary for the company to remain effective and affordable.

This notice states that “keeping in mind all these aspects, the company has brought the VRS scheme.” Its goal is that the permanent employees of the company can separate from the company with full dignity. ”

On the other hand, if we consider the sales figures given by the company, then in December 2020, the company has reported sales of 2,63,027 units. The company sold 2,55,283 units in the month of December 2019.