Section 7 in International Financial Services Centres Authority (Salary, Allowances and other Terms and Conditions of Service of Chairperson and Members) Rules, 2020.
7. Pay.
(1)The Chairperson shall have an option to receive pay as admissible to a Secretary to the Government of India or a consolidated salary of rupees four lakh fifty thousand (Rs 4,50,000) per month.(2)A whole-time Member shall have an option to receive pay as admissible to an Additional Secretary to the Government of India or a consolidated salary of rupees four lakh (Rs 4,00,000) per month.(3)Where the Chairperson or a Whole-time Member opts to receive pay as admissible to a Secretary or an Additional Secretary under sub-rule (1) or sub-rule (2), as the case may be, and if such Chairperson or Member is a person who has retired from service under the Central Government or the State Government and who is in receipt of, or has received, or has become entitled to receive any retirement benefits by way of pension, gratuity, employer' s contribution to the Contributory Provident Fund or other Funds or retirement benefits, then the pay and allowances of such Chairperson or Member, as the case may be, shall be reduced by gross amount of pension and pension equivalent of gratuity or employer's contribution to the Contributory Provident Fund or any other form of retirement benefits, if any, drawn or to be drawn by him.
