Madhu.T.K: Yes, the benefit u/r 61 is available to those who retire earlier than the prescribed date of superannuation or under any VRS scheme. This is because as per ESI the superannuation means exit on attaining the age of superannuation as per contract of employment or 60 years in case there is no such provision in the contract. Premature retirement or VRS is actually a contract between employee and employer
I require help regarding calculating VDA. As per new Central Notification, Rate of Variable Dearness Allowance for every point rise or fall beyond 271,
which is the average monthly Consumer Price Index Number for industrial
workers (Base year 2001=100), for the period January-June, 2016.
1. Unskilled 1.93 1.61 1.29