Section 51 in Life Insurance Corporation of India (Staff) Rules, 1960
51. [ Scales of Pay. [Notified in Gazette of India, Part-III Section 3 dated 22.6.2000.]
(1)The scales of pay, dearness allowance and other allowances (wherever payable) applicable to the employees of the Corporation in India shall be as prescribed in Schedule II hereto.(1A)[ The basic pay and other allowance admissible from time to time to an employee belonging to Class II shall be regulated in accordance with the provisions contained in Schedule III.](2)Where the scales of pay, dearness allowance or other allowances applicable to the employees of the Corporation or any class of them are revised in pursuance of any award, agreement or settlement, or otherwise, the method of fixation of pay in the new scales, the eligibility for the benefit of revision, the date from which the revision shall apply, and other matters connected therewith or incidental thereto shall be regulated by Instructions issued by the [Chief Executive] [Substituted 'Chairman' by Notification No. G.S.R. 481(E), dated 7.7.2021 (w.e.f. 23.7.1960).] in this behalf.]
