Section 57 in Life Insurance Corporation of India (Staff) Regulations, 1960
57. [ Refixation of Salary. [Notified in Gazette of India, Part-III Section 4 dated 7.8.1971.]
(1)On appointment to a higher grade, the basic pay of an employee shall be initially fixed at one stage above that stage in the higher scale which is next above his basic pay in the lower scale.Provided, however, that where the basic pay in the lower scale is a stage in the higher scale, the basic pay shall be fixed at the stage in the higher scale which is next above his basic pay in the lower scale.Provided further that the basic pay shall be fixed at the minimum of the higher scale where such fixation results in an increase in basic pay of at least one grade increment obtaining at the minimum of the higher scale.(2)Subject to such conditions as may be imposed from time to time, a personal allowance may be granted to employees promoted to a higher cadre in consideration of the loss in remuneration drawn by them in the lower cadre at the time of promotion.Explanation: 1. For the purpose of this regulation, special pay, as defined shall be treated as part of basic pay.
