Section 9(5) in The Life Insurance Corporation of India Information Technology Specialist Group (Selection, terms and conditions of service and payment of Allowance) Rules, 2007
(5)The allowance shall cease to be payable to an employee /officer who has given a notice of resignation or voluntary retirement under the Life Insurance Corporation of India (Staff) Regulations, 1960 or the Life Insurance Corporation of India (Employees) Pension Rules, 1995, from the date of such notice. However, subject to the rules in this regard if such an employee/officer is allowed to withdraw the notice of resignation or voluntary retirement, the allowance may be paid, if otherwise payable, to such an employee as if the notice was not given at all.
