SBoP staff that opted for VRS yet to get dues

Tribune News Service

Chandigarh, June 23

Over 700 employees of the erstwhile State Bank of Patiala (SBoP) who opted for VRS have alleged that they have not received retirement benefits like provident fund, gratuity, commutation of one-third of pension and pension etc. to date. The employees opted for VRS prior to the bank’s merger with SBI w.e.f. April 1, 2017.

The employees who took VRS included clerks, managers, chief managers, AGMs and DGMs. In order to impress upon the bank, the employees incorporated “All India SBI (e-SBP) VRS Official Association with Rajesh Sondhi as its secretary.

According to the VRS document, gratuity and provident fund was to be payable as per rules applicable on the relevant date. Pension was to be paid in terms of the pension fund rules of the associate banks.

“Our demands include release of PF, commutation of pension, pension and gratuity to all 742 employees who had opted for VRS. But it has been almost two months and we are yet to receive the benefits,” said Yograj Garg, one of the employees who took VRS.

“The employees who took VRS have been paid only ex gratia amount. The leave encashment has been released but not paid as the full amount has been kept as cash collateral against car and education loans. In the market, SBI is financing both loans without security while cash collateral has been taken from us,” he added.