Section 18 in Life Insurance Corporation of India (Staff) Regulations, 1960
18. Determination of Service.
(1)An employee, other than an employee on probation or an employee appointed on a temporary basis, shall not leave or discontinue his service in the Corporation without first giving notice in writing to the competent authority of his intention to leave or discontinue the service. The period of notice required shall be(a)three months in the case of an employee belonging to Class I;(b)one month in the case of other employees.Provided that such notice may be waived in part or in full by the competent authority at its discretion.In case of breach by an employee of the provisions of the sub-regulation, he shall be liable to pay the Corporation as compensation a sum equal to his salary for the period of notice required of him, which sum may be deducted from any moneys due to him.(2)The Chairman, the [Executive Committee] [Notified in Gazette of India, Part-III Section 4 dated 7.8.1971.] or the Corporation may determine the service of any [permanent] [Notified in Gazette of India, Part-III Section 4 dated 7.8.1971.] employee at any time on giving him(a)three month's notice or salary in lieu thereof if he is an employee in Class I; and(b)one month's notice or salary in lieu thereof if he is an employee in any other class.Provided, however, that the period of notice will be doubled in the case of employees who have served for 10 years or more.Provided further that no order under this regulation shall be made by an authority subordinate to the appointing authority.(3)Nothing contained in this regulation shall affect the right of the appointing authority to retire, discharge, remove or dismiss an employee without notice or salary in lieu thereof in accordance with the provisions of Regulation 39 [or to terminate the services of any employee belonging to Class II in accordance with the provisions contained in Schedule III.] [Notified in Gazette of India, Part-III Section 4 dated 22.4.1976.]Explanations: 1. The expression "month" used in this regulation shall be reckoned according to the English calendar and shall commence from the day following that on which notice is received by the Corporation or the employee as the case may be.
