There are many ways to load a subtitles file in VLC media player, however the following method is the easiest one.
Just play the video file in VLC media player. Right click on the video screen, and click on Videos > Subtitles Track > Load File.
Now, select the subtitles file in the browse window and you’re done. VLC will now automatically parse the subtitles and will start showing you them immediately.
Isn’t it easy :)