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Union of India - Section

Section 13A in Life Insurance Corporation of India Class III and Class IV Employees (Revision of Terms and Conditions of Service) Rules, 1985

13A. [ Productivity linked Lumpsum Incentive (PLLI)] [As amended vide Notification Dated 05.09.2005 GSR No. 561(E).].

- The Class III and Class IV employees of the Corporation shall be paid Productivity Linked Lumpsum Incentive as under:
(i)For the period from the 1st April, 2003 to the 31st March, 2005, one time lumpsum payment of 1% of the (pre-revised) wage bill of Class III and Class IV employees as on the 1st August, 2002 shall be paid as ex-gratia in lieu of Productivity Linked Lumpsum Incentive;
(ii)For the period from the 1st April, 2005 to the 31st March, 2009 shall be as specified in the Appendix annexed to these rules:
Provided that though the next wage revision falls due on the 1st August, 2007 the same Productivity Linked Lumpsum Incentive scheme shall be applicable upto Financial Year 2008-2009.