Section 16(3) in The Rajasthan Financial Corporation (Staff) Regulations, 1958
(3)An employee who contravenes the provisions of the foregoing Sub-Regulations of this Regulation shall be liable to pay to the Corporation as compensation a sum equal to his Substantive pay for the period of notice required of him; provided that the Board may at its discretion waive such payment of compensation in case of employee in Class 'A' and the Managing Director may at his discretion waive such payment of compensation in any other case.
