i am 55yrs old commerce graduate with 35 years experience working with pvt ltd company here with CTC of 15L. now my company is offering VRS and proposed to appoint me as retainer offer of 8.82L. what should i do.

Ans: ITR 2.

Please take your CAs advice before moving ahead.

Ans: Hello Mr.Sharma

May I suggest following.

1.As rightly some by you, kindly talk to your family, they are the best to guide you.

2. If your financial situation is good enough then you may want to take VRS. However please do calculation of amount you will get from VRS and the responsibilities that you have to discharge: kids education, kids marriage and your retirement needs.

Tution is a safe bet, but it might take you time to generate enough to take care of your expenses.

So at this point I would suggest do financial calculation, you may seek help of trusted financial advisor. Basis that you can take your call.

All the best

Ans: Deciding to take voluntary retirement (VRS) is a significant life decision, and it’s important to weigh the pros and cons carefully, especially considering your family’s current situation and your long-term goals. Since you plan to invest in farmland and a village school, assess whether your earnings from VRS, along with any savings, are sufficient to support your retirement, these projects, and any other future expenses. Make sure to account for unforeseen costs. Although your husband is still working and your daughter is financially independent, your son may require financial support until he is established. Ensure that your financial plans allow for his needs while maintaining your own security. Farming can be a fulfilling but challenging venture. If your plan is to generate income from farming, research the agricultural sector thoroughly. Consider potential returns, climate risks, and market conditions. If you are financially secure and passionate about your projects, taking VRS could be a fulfilling choice. However, make sure that you have a solid plan for your financial stability, your son’s future, and the long-term sustainability of your farming and school projects.

Ans: Madhuri Madam, You have NOT mentioned about your Current Salary Package.

Please note, as you have correctly mentioned that your Core TA (Talent Acquisition) Experience is just 4-years, for which it is very difficult to get a job with 18.00 Lacs CTC. (almost 1.5 lacs/month). Also, please note, you have been handling only one of the functions of HR i.e. Recruitment/Staffing. If you expect 18.00 Lacs CTC, you should have had PRACTICAL experience in maximum number of HR functions such as Pay Roll, Training & Development, Staffing, MPP (Manpower Planning), Performance Appraisal, Labour Law Compliance, Employee Benefits, Knowledge of about various Labour Laws such as Industrial Disputes Act, Workmen's Compensation Act, ESI, PF, Gratuity etc.

As you have been doing 2-Certifications & have worked in the 'Staffing/Recruitment/TA' Function, you might be well-aware that 'Line' Function attracts more salary than 'Staff' Function.

Suggestions:

(1) It is better to continue with current employer and keep upgrading skills and researching about all Functions of HR/Personnel Management/Industrial Relations.

(2) Have a Professional LinkedIn Profile, Connect with HR Professionals (not to ask for jobs) but to gain knowledge/views from them, Keep writing views/articles in LinkedIn on 'HR', put Job Alerts for Senior HR Position, get notifications & if you feel, your profile matches with the JD of job vacancies in HR, you can keep applying for the same.

(Views based on my experience: Having Completed PGDIR/PM from Delhi, Labour Law from Madras University & Diploma in Training & Development from ISTD-Delhi & Worked in Delhi/Muscat/Chennai in HR/Administration Department).

All the BEST for Your Bright Future, Madhuri Madam.

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