Supreme Court in Maharashtra State Financial Corporation Ex-Employees Association &Ors. vs. State of Maharashtra &Ors. C.A No. 778/2023, on February 2, 2023 while examining the issue as to whether the employees who secured voluntary retirement service benefits and left the service of the employer voluntarily (“VRS Opted Employees“) can claim parity with the superannuated employees observed that the VRS Opted Employees cannot claim parity with those who worked continuously, discharged their functions, and thereafter superannuated since VRS Opted Employees chose to opt and leave the service of the employer as they found the VRS offer beneficial to them. The Court noted that as apart from the normal terminal benefits that VRS Opted Employees were entitled to, the additional amount each of them was given was an ex-gratia amount, equal to a month’s salary for each completed year of service and other retired employees were never given such amounts.
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