What is VRS?

What is VRS?

Voluntary retirements Scheme which is also known as Golden handshake, is a HR techniques by which existing strength of the employees can be reduced. This technique provides golden route to retrenchment. By this scheme a company is able to dispense off the excess manpower without legal problems. This scheme is applicable to all workers and employees who have attained 40 years of age or completed 10 years of service. This scheme is beneficial for both employees as well as employer.