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The Life Insurance Corporation Of India Class I Officers (Revision Of Terms And Conditions Of Service) Rules, 1996

UNION OF INDIA
India

The Life Insurance Corporation Of India Class I Officers (Revision Of Terms And Conditions Of Service) Rules, 1996

Rule THE-LIFE-INSURANCE-CORPORATION-OF-INDIA-CLASS-I-OFFICERS-REVISION-OF-TERMS-AND-CONDITIONS-OF-SERVICE-RULES-1996 of 1996

Published on 18 July 1996
Commenced on 18 July 1996
[This is the version of this document from 18 July 1996.]
[Note: The original publication document is not available and this content could not be verified.]

The Life Insurance Corporation Of India Class I Officers (Revision Of Terms And Conditions Of Service) Rules, 1996Published vide Notification Gazette of India, Extraordinary, Part 2, Section 3(i), dated 18th July, 1996 (w.e.f. 1st day of August, 1992)

1927.

In exercise of the powers conferred by Cl. (cc) of sub-section (2) of Section 48 of the Life Insurance Corporation Act, 1956 (31 of 1956), the Central Government hereby makes the following rules regulating certain terms and conditions of service of Class I Officers (other than the Managing Directors) of the Life Insurance Corporation of India, namely :-

1. Short title, commencement and application.

(1)These rules may be called the Life Insurance Corporation of India, Class I Officers (Revision of Terms and Conditions of Service) Rules, 1996.

(2)They shall be deemed to have come into force on the 1st day of August, 1992.

(3)The shall apply to every whole-time (salaried) Class I Officer of the Corporation in India unless otherwise provided by the terns of any contract.

(4)Notwithstanding anything contained in sub-rule (2), where any Class I Officer gives a notice in writing to the Corporation, within thirty days of the date of publication of these rules in the Official Gazette, expressing his option to be governed by the provisions of these rules with effect from the date of such publication, the Corporation may, by order, permit such officer to be governed by the said rules with effect from the said date.

2. Definitions.

- In these rules, unless the context otherwise requires,-

(a)"Act" means the Life Insurance Corporation Act, 1956 (31 of 1956);

(b)"Class I Officers" means an employee of the Life Insurance Corporation of India (other than the Managing Directors) working in Class I post and includes any person who became an employee of Corporation on the appointed day under the Act and is so working;

(c)"Staff Rules" means the Life Insurance Corporation of India (Staff) Regulations, 1960;

(d)words and expressions used in these rules and not defined herein but defined in the Staff Rules, shall have the meanings respectively assigned to them in the Staff Rules.

3. Conditions of Service of Class I Officers.

- Notwithstanding anything contained in the Staff Rules, the terms and conditions of service of Class I Officers relating to matters covered by these rules shall be regulated in accordance with the provisions hereinafter contained in these rules.

4. Scales of pay of Class I Officers.

- The scales of pay of Class I Officers shall be as under :-Class I Officers :

1.(i) ZonalManagers/Chief of Departments at Central Office	(a)Ordinary Scale :Rs.11,450-300-12,650
(ii) ChiefEngineer/Chief Architect.	(b)Selection Scale :Rs.12,650-300-13,250-350-13,600-400-14,000

Notes. - (1) Officers in selection scale posted as in charge of a Department at the Central Office will be designated as Executive Directors.

(2)While Chief of Department at Central Office would normally be drawn from the cadres of Zonal Managers, where suitable officers for filling up these posts are not available from this cadre, they may be drawn from the cadre of Deputy Zonal Managers/Senior Divisional Managers/Secretaries/Actuaries/Accountants at Central Office and they will be designated as Chief-in-Charge.

2 (i) Deputy ZonalManagers/Senior Divisional Managers andSecretaries/Actuaries/Accountants At the Central Office DeputyChief Engineers/Deputy Chief Architects	Rs.10,450-250-11,450
3. (i) DivisionalManagers and Secretaries/Actuaries/Accountants at the ZonalOfficer/Deputy Secretaries A and I/Deputy Secretaries/DeputyActuaries/Deputy Accountants at the Central Office.	Rs.8,970-230-9,200-250-10,450
(ii)Superintending Engineers/Senior Surveyors of Works/SeniorArchitects.
4. (i) AssistantDivisional Managers/Senior Branch Managers and AssistantSecretaries/Assistant Actuaries/Assistant Accountants At theCentral Office.	Rs.7,360-230-9,200-250-9,950
ExecutiveEngineers/Surveyors of Works/Deputy Senior Architects.
5. (i) BranchManagers/Administrative Officers.	Rs.5,980-230-8,970
AssistantExecutive Engineers/Assistant Surveyors of Works/Architects.
6 (i) AssistantBranch Managers/Assistant Administrative Officers.
AssistantEngineers/Assistant Architects.	Rs.4,250-230-4,940-350-5,290-230-8,510

Note : A separate seniority list shall be maintained in respect of Officers appointed to posts specified in entry (ii) under various serial numbers.

5. Dearness allowance.

(1)The scales of dearness allowance applicable to Class I Officers shall be determined as under :

(a)Index : All India Average Consumer Price Index number of Industrial workers.

(b)Base : Index No. 1148 in the series 1960=1-00:

(c)Rate : For every four points in the quarterly average of the All India Price Index above 1148 points, Class-I Officers may be paid dearness allowance at the following rates-

Basic Pay	Rates of dearnessallowance for every 4 points.
(i) upto Rs. 4,800	0.35% of basic pay
(ii) Rs. 4,801 to7,700	0.35% of Rs. 4,800plus 0.29% of basic pay in excess of Rs. 4,800.
(iii) Rs. 7,701 to8,200	0.35% of Rs. 4,800plus 0.29% of difference between Rs. 7,700 and Rs. 4,800 plus0.17% of basic pay in excess of Rs. 7,700.
(iv) Rs. 8,201 andabove	0.35%of Rs. 4,800 plus0.29%of difference between Rs. 7,700 and Rs. 4,800 plus0.17%of difference between Rs. 8,200 and Rs. 7,700 plus0.09% of basic payin excess of Rs. 8,200

6. House Rent Allowance.

(1)The scales of house rent allowance applicable to Class I Officers, except those who have been allotted staff quarters, shall be at the rate of 12.5 per cent of the basic pay, subject to a maximum of Rs. 875.

(2)Class I Officers who are allotted staff quarters, or leased accommodation shall not be entitled to any house rent allowance but they shall pay an amount equivalent to appropriate licence fee, for the staff quarters or leased accommodation allotted to them.

7. City Compensatory Allowance.

- The scales of city compensatory allowance payable to Class I Officers shall be as under :-

Place of Posting	Rate
(i)Cities with population exceeding 12 lakhs, Faridabad, Ghaziabad,Noida, and City in the State of Goa;Cities of Gurgaon,Vashi and Gandhinagar.	4.5% of the basicpay subject to a maximum of Rs. 335 per month.
(ii) Cities withpopulation of 5 lakhs and above but not exceeding 12 lakhs, StateCapitals with population not exceeding 12 lakhs. Chandigarh,Mohali, Pondicherry, Port Blair and the city of Panchkula.	3.5% of the basicpay subject to a maximum of Rs. 230 per month.

Notes : 1. For the purpose of this rule, the population figures shall be those in the latest Census Report.

2. Cities shall include their urban agglomeration.

8. Provident Fund.

(1)Every Class I Officers of the Corporation other than an Officer on probation or an officer appointed on temporary basis or an officer who is contributing to an approved Superannuation Fund, shall contribute every month to the Provident Fund established by the Corporation at the rate of 10 per cent of his basic pay and the Corporation shall also contribute to the Provident Fund every month an amount-equal to the actual contribution of each such officer subject to a maximum of 10 per cent of the basic pay of each such officer :Provided that the Corporation shall not be required to make any such contribution to the Provident Fund in respect of an officer governed by the Life Insurance Corporation of India (Employees) Pension Rules. 1995.

(2)Class I Officers who are transferred employees of the Oriental Government Security Life Assurance Company Ltd., and who are contributing to the Pension Fund of that Company, which is being continued with modifications as a separate Fund for such employees only, shall be entitled to pension according to the rules of that fund.

(3)Class I Officers referred to in sub-rule (2) may, however, be permitted to contribute to the Provident Fund established by the Corporation but the Corporation shall not be required to make any contribution to the Provident Fund in respect of such officers.

9. Conveyance Allowance.

- Every Class I Officer, other than an officer who is in receipt of any conveyance allowance under any of the schemes of the Corporation, shall be paid conveyance allowance of Rs. 100 per month.

10. Functional Allowance.

(i) ProgrammerGrade I (Class I)	Rs. 200 per month
(ii) HillAllowance-	4% of basic pay,maximum Rs.
(1) Posted atcentres at an altitude of 1500 metres and over above mean sealevel.	180 per month.
(2) Postal atcentres at an altitude between 1,000 to 1,499 metres above meansea level.	3% of basic pay,maximum Rs. 150 per month.
(iii) Officersposted to Carrier Agents Branch as Sr. Branch Manager/BranchManager (I/C)	Rs. 200 per month.
Assistant BranchManager (Sales)	Rs. 150/- permonth
(iv) Officers inAudit and Inspection Deptt. Administrative Officers/Asst. Admn.Officers posted at Zonal Headquarter having touring duties to theminimum of 120 days in an year.	Rs. 250 per month
(v) EngineeringOfficer :-Asst. Engineeringand Asst. Executive Engineer when posted to project work site forsupervision of work for a minimum period of two weeks in a month.	Rs. 50 per month
Note.- Theabove functional allowance shall qualify neither for ProvidentFund nor Gratuity.

11. Vehicle Advance and benefits.

- [As per the Cir. Ref., MKTG/ZD/17/87 dated 1st September, 1987.]

1. Scheme is for all confirmed Class I Officers-

(i)New two wheeler which can be availed maximum twice during the service period.

(ii)The amount of advance shall be equal to full purchase price without accessories.

(iii)The interest shall be charged @ Rs. 3% per annum.

(iv)The amount of advance shall be recovered divided into sixty phis interest from the salary every month.

(v)Insurance Tax and RTO tax will be borne by the Corporation.

2. Scheme for following Officers;-

(a)Assistant Divisional Managers (Sales)

(b)Branch Managers

(c)Sr. Branch Managers

(d)Asstt. Branch Managers (Sales)

(i)Advance for full purchase price of a ( without accessories) prescribed model viz. Ambassador, Fiat Padmini, Maruti 800cc, Marti Omini and Jeep.

(ii)The recovery is to be made in 120 equal monthly instalments through the salary.

(iii)Insurance premium and taxes will be borne by the Corporation.

(iv)Allowances towards fixed charges per month payable with salary will be as under :-

(a)For depreciation : 80% of the purchase price spread over 120 monthly instalments.

(b)For charges towards maintenance : 80% of Rs. 50 = Rs. 40 per month.

(c)For repairs and replacements (other than major repairs & replacements) : 80% of Rs. 40 = Rs. 32 per month.

(v)Major repairs will be allowed as under :-

Ageof the car	Amountper annum
FirstYear	Rs.900
SecondYear	Rs.1,100
ThirdYear	Rs.2,300
FourthYear	Rs.2,500
FifthYear	Rs.2,800
SixthYear	Rs.3,000
SeventhYear	Rs.3,200
EighthYear	Rs.3,500
NinthYear	Rs.3,900
TenthYear	Rs.3,900

(This is as per LIC Cir. Ref. MKTG/ZD/19/91, dated 18.10.91)

(vi)Major replacements will be allowed as under :

(a)Replacement by ordinary tyres after every 32,180 Km. run.

(b)Replacement by nylon tyres after every 37,007 Km. run.

(c)The amount of reimbursement will be equal to 80% of five tyres' cost.

(d)Replacement of batteries is allowed every 18 months with the reimbursement of 80% of cost.

(e)While reimbursing for replacement of tyres and/or batteries, the value of worn out tyres or batteries shall be debited).

(vii)Mileage allowance is allowed for town running and tour running based on the rate of petrol and rate of engine oil and divided by the fixed (by the Corporation) distance in km. covered per litre of petrol for each Make and Model of the car.

(viii)The Officer is allowed to make an official tour covering maximum distance of 4,023 Km. per quarter viz. April to June, July to September, October to December and January to March.

However, the competent authority can sanction the extended distance of 4,827 Kms. for second and third quarters and 5632 Kms. for fourth quarter of the financial year.

3. Scheme for Assistant Divisional Manager and Divisional Manager of Administrative side.

(i)Advance amount shall be equal to full purchase price of a new car without accessories.

(ii)simple interest @ 5% per annum shall be charged.

(iii)The advance shall be recovered in 120 monthly instalments along with the interest.

(iv)The amount of insurance premium and other taxes shall be borne by the Corporation.

4. Scheme for executive Director, Zonal Manager, Deputy Zonal Manager, Sr. Divisional Manager or Divisional Manager (as incharge of the Division), Marketing Manager and Divisional Manager (Sales).

(i)Amount of advance shall be equal to full purchase price of a new car without accessories.

(ii)No interest shall be charged.

(iii)The advance shall be recovered in equal 120 monthly instalments.

(iv)The expenses towards insurance premium and taxes shall be borne by the Corporation.

(v)For major repairs, 80% of the expenses shall be reimbursed.

(vi)The mileage expenses for petrol shall be payable as fixed by the Corporation per Km. for different model of cars.

(vii)For the purpose of mileage expenses, the officer is allowed to tour covering a distance of 4,000 kms. per quarter from April to June, July to September, October to December and January to March.

12. Leave Rules.

- The same as explained in SI. No. 13 of Service Rules of Class III and IV employees.

13. Superannuation and Retirement.

- The same as explained in S1. No. 13 of Service Rules of Development Officers.

14. Encashment Benefit.

- The same explained in S1.No. 17 of Service Rules of Class III and IV Employees.

15. Medical Benefit.

- The same as explained in SI. No. 15 of Service Rule of Development Officers.

16. Mediclaim.

- The same as explained in Sl. No. 19. of Service Rules of class III and IV Employees.

17. Leave Travel Concession.

- The same as explained in S1.No. 20 of Service Rules of Class III and IV Employees.

18. Gratuity.

- The same as explained in Sl. No. 21 of service Rules of class III and IV Employees, excluding the item No. 3 and parts thereto.

19. Additional Gratuity.

- The same as explained in Sl. No. 23 of Service Rules of Development Officers.

20. Group Term Assurance.

- The same as explained in Sl. No. 23 of Service Rules of class III and IV Employees.

21. Group Saving Link Insurance.

- The same as explained in Sl. No. 24 of Service Rules of class III and IV employees.

22. Pension.

- The same as explained in Sl. No. 25 of Service Rules of class III and IV Employees.

23. Interpretation.

- Where any doubt or difficulty arises as to the interpretation of these rules, it shall be referred to the Central Government/Central office for its decision.

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