Which of the following is are objectives of Voluntary Retirement Scheme 1 To achieve optimum human r...........

Economic Affairs Public Sector Enterprises

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Which of the following is/are objectives of Voluntary Retirement Scheme?

1) To achieve optimum human resource utilization

2) To optimize return on investment in PSU

3) To improve the management of PSU

Select the correct answer using codes given below

1 and 2

2 and 3

1 and 3

1,2 and 3

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Explanation:

Third statement is incorrect i.e. To improve the management of PSU was not the objective of Voluntary Retirement Scheme

Voluntary retirement scheme is a method used by companies to reduce surplus staff. This mode has come about in India as labour laws do not permit direct retrenchment of unionized employees. Description: VRS applies to an employee who has completed 10 years of service or is above 40 years of age.