Section 83 in Orissa State Financial Corporation (Staff) Regulations, 1975
83. [ [Substituted vide O.G.E. No. 1524 dated 10.11.2004.]
(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.](2)(a)An employee will be allowed to surrender ordinary leave upto a maximum of 30 days in lieu of leave salary and allowances for the period of the leave surrendered provided that he has not less than 120 days ordinary leave at his credit and that a minimum reserve of sixty days ordinary leave is left in the leave account of the employee after encashment of the ordinary leave.(b)The concession of encashment of ordinary leave shall be allowed once in a block period of 24 months, commencing from the 1st January 1975.(c)The leave salary and allowance admissible for the leave surrendered shall be equivalent to that which the employee would have received had he actually availed himself of the leave so surrendered.(d)Leave salary for the period of surrendered leave shall be paid in full as soon as possible after the commencement of leave surrendered.(e)The benefit of surrender of leave shall be admissible to Corporation employee who holds a post either in the Head Office or Branch office or Agency officers or sub-officers or in any of the financial units to which he is under deputation for a specific period.(f)In the case of an employee of the Corporation who is on the verge of retirement, the period of leave surrendered shall not exceed the period of duty between the date of expiry of ordinary leave actually availed of and the date of retirement.The benefit of surrender of leave shall not however, be allowed in respect of leave sanctioned either as leave preparatory to retirement or as refused leave under Rule 75 of the regulations;(g)The leave salary and allowance admissible for the leave surrendered shall not be liable to any deduction on account of provident fund subscription, insurance premium, house rent, repayment of advance, etc., due to the Corporation but shall be liable to deduction of income tax if the income is assessable to such taxes in the hands of the employees;(h)The authorities who are empowered to sanction ordinary leave will be competent to accept the surrender of leave;(i)The details of the surrender leave shall be entered in the leave register at the time of leave salary is drawn. A certificate to the effect that necessary entries have been made in the leave register shall be recorded by the concerned officer of the Corporation.
