TAYO Rolls announces VSS package for its employees

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Jamshedpur, May 15: TAYO Rolls today announced a VSS Package for its employees. This VSS Scheme starts on May 15th and will continue till May 20, 2017.

The VSS Package is to be looked in the backdrop of developments pertaining to closure of Units, a company communiqué said.

As per the scheme, the employees having a service period less than or equal to 32 months will get the basic plus dearness allowance (DA) for a period of 12 months. The employees having a service period of above 32 months will get basic plus DA for 22 months or balance period of service whichever is less.

The employees of age group 19-30 years will get medical package of Rs 25,000 while those of age group 30-40 years will get a medical package of Rs 45,000. For age groups of 40-50 years and 50-60 years, the medical package amounts will be Rs 65,000 and Rs 1.25 lakh respectively.

“After separation, no medical facilities to employee and their family members will be provided by the company. Also they will not be entitled to enroll for medical facilities under dependent category,” said the company officials.

Recently, TAYO had filed a writ petition in the Jharkhand High Court challenging the rejection order of closure by the state government.

It maintained that due to precarious financial conditions, the company has not been able to pay salary due to its deep financial crisis.

An interlocutory application was filed in the High Court by one of the respondents seeking order for payment of salary. On 10th May after a detailed hearing, the Court dismissed the IA as not maintainable in the High Court.

“As per Industrial Disputes Act amended in Maharashtra & Rajasthan, if less than 300 workers are employed in an establishment, in case of a closure, Government permission is not required.

The Central government is also planning to implement Labour code on IR in the same lines subject to approval through the Parliament.

Given the circumstances, the TAYO Rolls Management has once again offered a VSS Package in the larger interest of employees and their families,” the company spokesperson said.

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