Section 19(1) in Life Insurance Corporation of India Class III and Class IV Employees (Revision of Terms and Conditions of Service) Rules, 1985
(1)(a)A permanent Class III or Class IV employee who has been in continuous service of the Corporation (including service with the insurer) for not less than 15 years (excluding period of probation or temporary service in respect of employees recruited on or after the 1st September, 1956) and -(i)whose services are terminated by the Corporation for any reason whatsoever;OR(ii)who voluntarily resigns from the service of the Corporation;OR(b)a permanent Class III or Class IV employee -(i)who dies while in the service of the Corporation;OR(ii)who retires from the service of the Corporation;OR(iii)whose services are determined either due to continued illness or accident incapacitating him from the proper discharge of his duties;OR(iv)whose services are dispensed with owing to reduction of staff for reorganisation of establishment;shall be eligible for the payment of gratuity.
