Over 400 employees of RINL opt for VRS in third phase

Around 400 employees have reportedly responded to the third phase of the Voluntary Retirement Scheme (VRS), which was notified by the Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant (VSP), to optimise its human resources and reduce operational costs.

Following the first and second phases in 2025, the notification for the third phase was issued on December 24, 2025. Online applications began on January 1, 2026, and the last date for submission of applications is January 27, 2026.

Initially, due to an inadequate response from employees, this was extended from January 20 to 27. Employees who applied have the option to withdraw their applications until January 31, 2026, if they wish.

The eligibility criteria include a minimum of 15 years of continuous service in the RINL and a minimum age of 45 years as of the application date. Employees working on a contract or fixed-term basis, or personnel on deputation from other government departments, are ineligible for this scheme.

“Around 400 employees have applied for the third phase of the VRS so far. It is understood that the management is expecting at least 1,000 applications. This could be the reason for extending the deadline from January 20 to 27,” a VSP official told The Hindu on Wednesday.

In the first phase, 692 officers and 631 non-executive employees opted for VRS, followed by 377 officers and 464 non-executives in the second phase. In total, 1008 officers and 1587 non-executives have taken VRS in the two phases so far.

As of January 1, 2025, there were 12,338 regular employees. However, as of January 1 this year, the number of employees stands at 9311, according to the RINL sources.

Leaders of trade unions, including the Visakha Ukku Parirakshana Porata Committee, expressed concern. They argued that the high number of applicants, especially young and middle-age employees, showing interest in the VRS due to periodic delays in salary payments, increased workload due to a reduction in the number of employees operating critical functions like blast furnaces, concerns over the disinvestment of the plant, and the recent lack of promotions.