Seeking benefits over and above voluntary retirement scheme a misadventure: SC

New Delhi: In a very significant judgement pronounced in IFCI Ltd vs Sanjay Behari & Others case on September 17, 2019, Supreme Court of India held that any Voluntary Retirement Scheme (VRS) is a package by itself and the employees retired under the scheme cannot claim any benefits beyond what has been envisaged in the VRS.

The court was dealing with an appeal filed by IFCI Ltd, a government of India undertaking against a judgement of Delhi High Court bench.

Some of the ex- employees of IFCI, who had opted for retirement under VRS floated by IFCI Ltd in 2008, had claimed revision of their pension by referring the pay scale revision implemented by IFCI.

Supreme Court rejected the claim principally on the ground that VRS is a package by itself and any subsequent claim cannot be entertained.

The judgement could prove to be a landmark as it has discussed various aspects earlier court judgements, VRS schemes and internal policy documents of IFCI for arriving at conclusion. The judgement has clearly set out legal position pertaining to Voluntary Retirement Schemes.