Section 83(1) in Orissa State Financial Corporation (Staff) Regulations, 1975
(1)Scale on which ordinary leave is earned and retirement benefit -(a)The amount of ordinary leave earned shall be 1/11th Part of duty in case of an employee of the Corporation :Provided that an employee will cease to earn such leave when the O.L. due amounts to 300 days.(b)The maximum ordinary leave that may be granted at a time to an employee shall be 120 days.(c)In calculating ordinary leave, ordinary leave earned by an employee shall first be taken of the completed period of 11 months during which an employee has been on duty since the date of his/her appointment and one month accounted for, for each period of 11 months of duty as shall be admissible to him/her under clause (a). Thereafter an account shall be taken of any balance period of duty left over and the employee shall be credited with one day for every 11 days of duty rendered by him/her :Provided that while computing, a half day will be taken as one day and a day less than a half day will be ignored.(d)The limit of 300 days of unutilised ordinary leave will be available to the employee of the Corporation for the purpose of availing the benefit of encashment of ordinary leave at the time of retirement or otherwise in respect of the following categories -(i)Retirement on attending the age of superannuation.(ii)Voluntary/premature retirement or retirement on invalidation.(iii)Where the service of an employee is terminated by notice or by payment of pay and allowance in lieu of notice or otherwise in accordance with the terms and conditions of the appointment.(iv)In the case of termination of re-employment on superannuation.(v)Cases where the service of an employee has been extended in the interest of public service beyond the date of retirement on superannuation.(vi)In the case of death of an employee, while in service to the family of the deceased.(vii)In the case of leave preparatory to retirement.(e)An employee who resigns or quits service shall be entitled to cash equivalent in respect of ordinary leave at credit on the date of cessation of service, to the extent of half of such leave at his credit, subject to a maximum of 120 days.]
