seeking voluntary retirement. It states that the employees seeking voluntary
retirement were eligible for all other retirement benefits. Under the existing said
scheme the bank ... Whether an application by an employee to secure voluntary
retirement under the Voluntary Retirement Scheme (VRS) can
be withdrawn by such an employee before
retirement'
given in Regulation 2(y) whereunder voluntary retirement
under Regulation 29 is considered to be retirement.
Regulation 29 uses the expression, `voluntary retirement ... with Ms.
Bhati that Regulation 29 does not contemplate
voluntary retirement under the Voluntary Retirement
Scheme and applies only to such employees who
themselves wish
Income Tax Act, 1961
35DDA. Amortisation of expenditure incurred under voluntary retirement scheme. [Inserted by Act 14 of 2001, Section ... accordance with any scheme or schemes of voluntary retirement, one-fifth of the amount so paid shall be deducted in computing the profits and gains
Trust (in short 'the VPT') to seek
retirement under a voluntary retirement scheme, even though,
according to the employer Port Trust they ... that the employee who was
desirous to apply for retirement under voluntary retirement
scheme may apply direct to Dy. Chairman was only to
consolidate such
scheme by the respective Board of Directors. It advised that the banks
may adopt these schemes for sabbatical leave and voluntary
retirement based ... implementing the above
schemes. It has been advised that the Banks may adopt these
schemes for sabbatical and voluntary retirement based on the
essential features
this case the petitioner appellants were subjected to voluntary retirement pursuant to a Voluntary Retirement Scheme (hereinafter referred to as "the Scheme ... time of his voluntary retirement in accordance with any Scheme or Schemes of voluntary retirement.... It is the meaning of the word "amount received
expression “retirement” or “voluntary
retirement”. We have, therefore, to fall back on the definition
of “retirement” given in Regulation 2(y) whereunder voluntary
retirement under ... considered to be retirement.
Regulation 29 uses the expression “voluntary retirement under
these Regulations”. Obviously, for the purposes of the Scheme
stated
expressly in the scheme.
Financial considerations are, thus, a relevant factor both for
floating a scheme of voluntary retirement as well as for revision ... employees. In this sense also the Voluntary
Retirement Scheme is a Special Scheme. The scheme was initially
introduced for one year. It might have been
Court has held that the Voluntary
Retirement Scheme is a special scheme as contrasted with the general
scheme / contract of employment governing the terms ... voluntary
retirement is not governed by any statute, the
provisions of Contract Act, 1872 , therefore,
would be applicable too.
18. The voluntary retirement scheme speaks
termination of his service, in accordance with any scheme or schemes of voluntary retirement or in the case of a public sector company referred ... termination of his service in accordance with the scheme or schemes of voluntary retirement or in the case of public sector company referred
