Section 16 in The Rajasthan Financial Corporation (Staff) Regulations, 1958
16. Termination of service by notice.
(1)During his probationary period an employee shall not leave or discontinue his service in the Corporation without giving prior in writing to the Managing Director of his intention to leave or discontinue the service. The period of such notice shall not be less than-(a)7 days during the first month, or(b)one month during the rest of the probationary period.(2)After confirmation an employee shall not leave or discontinue his service in the Corporation without giving prior notice in writing to the Managing Director of his intention to leave or discontinue the service. The period of such notice shall not be less than-(a)three months in the case of an employee in Class 'A' and(b)one month in the case of an employee in any other class.(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.(4)The Corporation may determine the service of an employee after expiry of the period of his probation on giving him-(a)three months' notice, or Substantive pay in lieu thereof, if he is an employee in Class 'A' and,(b)one month's notice, or Substantive pay in lieu thereof, if he is an employee in any other class.The power to determine the service of an employee shall be exercised by the Managing Director, subject in the case of officers to the prior approval of the Board.(5)Nothing in this Regulation shall effect the right of the Corporation-(a)to retire or dismiss an employee without notice or pay in lieu thereof in accordance with the provisions of Regulations 17 and 37; and(b)to determine the service of an employee without notice or pay in lieu thereof on his being certified by the Corporation's Medical officer to be permanent incapacitated for further continuous service in the Corporation.Explanation I. - The expression "month" used in this Regulation shall be reckoned according to the English Calendar and shall commence from the day following that on which notice is given by the employee or the Corporation as the case may be.Explanation II. - A notice given by an employee under Sub-Regulation (1) [or] [Substituted by Amendment Notification dated 15-11-1961, Rajasthan Gazette, Part IV-C, dated 14-12-1961.] (2) shall be deemed to be proper only if he remains on duty during the period of notice, and an employee shall not be entitled to set off any leave earned and not availed of by him against the period of such notice.Explanation III. - If an employee to whom notice is given by the Corporation in pursuance of this Regulation absents himself from duty without permission during the period of notice he shall not be entitled to receive any pay or allowance during the period of absence and shall further be liable to such further penalties as the Managing Director may deem fit to impose.[17. Superannuation and Retirement. - (i) An employee, except in Class 'C' shall retire at 58 years of age provided that he may be reemployed in the service of the Corporation, with prior approval of the Board, beyond the age of 58 years in the interest of the Corporation and for reasons to be recorded in writing for a period not exceeding one year at a time upto the age of 60 years on the pay and allowances last drawn.(ii)In case of an employee in Class 'C' the age of retirement shall be 60 years.Explanation. - Notwithstanding anything contained in this Regulation, where an employee has at the credit of his leave account ordinary leave earned and has in sufficient time before the date of retirement either-(i)formally applied for leave and been refused it, or(ii)ascertained in writing from the Managing Director that leave, if applied for, would not be granted, he may be permitted to avail of the leave so refused and in that case the employee would be deemed to have retired, from service on the date of compulsory retirement or the expiration of extension and shall become eligible for retirement benefits from the date of such retirement or the expiration of such extension as the case may be.(iii)Not printed in Gazette.(iv)[ The authority competent to grant leave may withhold whole or part of cash equivalent of ordinary leave in case of corporation employee, who retired from service on attaining the age of retirement while under suspension or while disciplinary or criminal proceedings are pending against him. If in the view of such authority there is possibility of some money becoming recoverable from him on conclusion of the proceeding against him. On conclusion of the proceedings, he will become eligible to the amount so withheld after adjustment of corporation dues, if any.] [Inserted by Amendment Notification dated 29-5-2003, Rajasthan Gazette, Part VII, dated 12-6-2003, Page 101.]
