It is very simple.
Fire up VLC Media Player. Now hit '
Shift + Ctrl + O' or navigate to '
File >> Open File...'. In the dialog box that appears, hit the '
Browse...' button and navigate to the movie you want to play. Select it and hit '
Enter'. Now enable '
Load subtitles file:' and click on '
Settings...'. Now, click on '
Browse...', navigate to the subtitles file and select it.
Hit 'Enter' three times and your movie will start playing with the subtitles. Simple enough!
Edit: Thanks a lot to whoever it was who repped me for this!