Section 46(5)(b) in The Punjab Scheduled Castes Land Development & Finance Corporation (Staff) Regulations, 1971
(b)An employee who is habitually late in attendance shall, in addition to such other penalty as the appointing authority may deem fit to impose, have one day of casual leave forfeited for every two days he is late in a month. Where such an employee has no casual leave due to him, the period of leave to be so forfeited may be treated as ordinary or extraordinary leave, as the appointing authority may determine.