Section 18(1) in Life Insurance Corporation of India (Staff) Regulations, 1960
(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.
