Section 9(1) in Life Insurance Corporation of India Class-I Officers (Revision of Terms and Conditions of Service) Rules, 1985
(1)(a)A permanent Class-I Officer who has been in continuous service of the Corporation (including regular salaried 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) andi. whose services are terminated by the Corporation for any reason whatsoever; orii. who voluntarily resigns from the services of the Corporation; OR(b)a permanent Class-I Officer -i. who dies while in service of the Corporation;ORii. who retires from the service of the Corporation;ORiii. whose service is determined either due to continued illness or accident incapacitating him from the proper discharge of his duties;ORiv. whose services are dispensed with owing to reduction of staff or re-organisation of establishment;shall be eligible for the payment of gratuity.
