Difference Between VRS And CRS?

Dear all,
Please crarrify the difference between VRS and CRS?

Hi,
Please provide sum information about VRS like age of VRS, procedure , role of company & employee in it?
Regards,
Ritu

Hello, Boopy.. nice to see u on cite hr...no a maxi. industry work on CSR (CARPORATE SOCIAL RESPONSIBILITY) i feel u heard about csr...and u feel crs...
regards,
sunil s mudgal
09766082061

Hi Boopy you could see the difference in the expansion itself....
VRS Voluntary Retirement Services which is done by the willingness of the employee.
CRS Compulsory Retirement Service which is done in compulsion by the management or Govt without the unwillingness of the employee.
Hope this helps.
Thanks,
Thiru R

VRS : Volutnary retirement Scheme ( employee willingly part with servcie )
CRS : Compulsory retirement scheme ( Employer creates a situation where employee has to leave without his willingness)
It happens in certain organizations to get rid of aged, non performers, absentees etc.
B.Dakshinamurty

Yes,
VRS it Voluntary Retirement Sheme; CRS- is Compulsory Retirement Scheme.

VRS - Company offers a scheme by which surplus manpower is reduced. It involves lucrative economic package offered to those who opt to get out. It is beneficial to an employee since he gets a huge sum of money in single stroke, which he invests and earns recurring interest month after month. Moreover, if he is really a person to be worth hired, can get placed in similar industry or any other industry for a reasonably good salary; this is an additional income.

As far as employer is concerned, the position reduced by VRS is not going to be replaced. So, though heavy cash outflow costs his excheuquer today, over a period of time he achieves break even and gets rid of having a permanent workman in his role, thereby saves employees cost.

Whereas CRS, is a tool used to get rid of dead woods and unproductive employees construed to be liability to the company. There is no option available to one per se, he is persuaded to retire compulsorily; If he doesn't, there are plenty of reasons by which he will be made to quit. Therefore normally these employees will have no option but to opt for it.
V. Balaji