THE INSTITUTE OF COMPANY SECRETARIES OF INDIA

SERVICE RULES, 1979

(As amended till 1st April, 2014)
 INDEX

The ICSI Service Rules, 1979

(Amended till 01.04.2014)

CHAPTER SUBJECT PAGE NO.

I General 1
II Definition 2-3
III Pay & Allowances and other conditions of 4 – 14
employment
IV Travelling and Daily Allowance, Leave Travel 15 – 21
Concession and Encashment of Leave
V Leave and Holidays 22 – 27
VI Reimbursement of Medical Expenses 28
VII Advances to Employees of the Institute 29 – 41
VIII Gratuity, Provident Fund and Pension 42 – 43
IX Conduct 44 – 49
X Discipline and Appeal 50 – 55
LIST OF SCHEDULES

Schedule ‘A’ Pay Scales 56 – 58

Schedule ‘B’ Recruitment Procedure 59 – 61
Schedule ‘C’ Promotion Policy 62 – 63
Schedule ‘D’ Qualifications and Experience prescribed for 64 – 83
each post in the Institute
Schedule ‘E’ ICSI’s Family Hospitalization & Medical Plan 84 – 87
Schedule ‘E-1’ ICSI Employees’ Medical Hospitalization Trust 88 – 99
Rules
Schedule ‘E-2’ ICSI Employees Group Gratuity Trust Rules 100 – 109

Schedule ‘E-3’ ICSI Employees Provident Fund Trust Rules 110 – 135
Schedule ‘E-4’ ICSI Employees Pension Fund Trust Rules 136 – 154

Schedule ‘E-5’ ICSI Employees New Pension Fund Trust 155 – 168
Rules
Schedule ‘F’ Misconduct 169 – 171

Schedule ‘G’ Appointment of Specified Staff 172 – 180

 THE INSTITUTE OF COMPANY SECRETARIES OF INDIA
SERVICE RULES, 1979

CHAPTER – I

GENERAL

1. These rules shall be known as “The Institute of Company Secretaries of India

Service Rules, 1979" 1 [as amended till 1st April, 2014] hereinafter referred to
as Institute’s Service Rules.

2. These rules defining conditions of service including pay and allowances, pay
scales, recruitment procedure and promotion policy, travelling and daily
allowances, leave, medical facilities, provident fund & retirement benefits,
conduct, discipline and appeal procedure applicable to the permanent
employees of the Institute shall come into force with effect from 1st August 1979
or such other dates as may be notified by an Office Order of the Institute.

3. The rules shall apply to all existing employees of the Institute at the time of
enforcement of the rules as well as to employees who may be appointed
hereinafter except in case if any Government servant is on deputation with the
Institute then he will not be governed by the rules to the extent to which the rules
are inconsistent with the terms and conditions laid down at the time of the
deputation to the Institute or as varied from time to time in consultation with the
Government concerned.

4. If the rules are silent upon any point then the rules prevalent in the Government
of India on that point applicable to the Central Government employees may be
made applicable as far as possible, by the Institute issuing separate Office Order
in this regard.

5. The Institute reserves to itself the right to amend, alter, vary, modify, remake,
rescind or add to these rules or any supplementary rules issued in connection
with these rules without previous notice or intention to do so and the right to give
effect thereto from any date which it may deem fit, provided that if a rule or
order, which affect any employee(s) adversely is to be given retrospective effect,
suitable protection shall be given to such employees.

1
Introduced w.e.f. 01.08.79 vide Office Order No.50/79 dated 24.07.09 and subsequently amended till
01.01.1992 vide Circular No. 3/92 dated 06.02.92.

1
 CHAPTER - II

DEFINITION

6. In these service rules, unless the context otherwise requires:

(a) “The Institute” means The Institute of Company Secretaries of India.

(b) “Council” means the Council of the Institute.
(c) “President” means the President of the Institute.
(d) “Vice-President” means the Vice-President of the Institute.
(e) “Secretary” means the Secretary of the Institute.
(f) “Family” means an employee, his wife or her husband as the case may
be, dependent children, including step children and wholly dependent
parents, if residing with the employee. 2[The term dependant children is
defined further, as under: (1) Son: till he starts earning or attains the
age of 25 years or gets married, whichever is earlier. (2) Daughter : till
she starts earning or attains the age of 25 years or gets married,
whichever is earlier. (3) Disabled Son or Daughter suffering from
permanent disability of any kind (physical or mental) : No age limit].
(g) “Medical Officer” means an officer appointed as such by the Institute on
whole-time or part-time basis and in the absence of such appointment,
any registered medical practitioner recognized by the Institute.
(h) “Month” means calendar month according to the English Calendar.
(i) “Office” means Headquarters office, Regional Office or any other office
that the Institute may establish anywhere in India.
(j) “Disciplinary Authority” means the President/Vice-President and/or
Secretary of the Institute.
(k) “Appointing Authority” means the President/Secretary and or officers
authorized by the appointing authority to make appointments to the
various posts in the Institute or under the control of the Institute.
(l) Words imparting the masculine gender shall include the female; words
in the singular shall include the plural and words in the plural shall
include the singular.

2
Inserted vide Office Order No.98/11 dated 09.09.11

2
7. Classification of Employees

The employees of the Institute will be classified as Permanent; Probationary;

Temporary; or Casual as defined hereunder:

(1) Permanent: A “Permanent” employee is an employee, who has been

engaged on a permanent post and includes any person who has
satisfactorily completed the prescribed probationary period and has been
confirmed thereafter in writing as a permanent employee.

(2) Probationary: A “Probationary” employee is an employee who is

provisionally employed to fill any vacancy in a permanent post. An
employee will be appointed on probation for a period of 3[one year] but
even after the expiry of the said period of probation he will continue to be
on probation till he is confirmed in writing. However, the probationary
period can be reduced or extended in writing from time to time at the
discretion of the appointing authority. If necessary, the service of the
employee on probation may be terminated at any time before the expiry of
the probationary period.

(3) Temporary: A “Temporary” employee is an employee who is engaged for

a limited period at a consolidated salary not exceeding three months at
any time. Such temporary employee may be employed on work which is
of essentially temporary nature or in case of increase in work of a
permanent nature or in place of any leave vacancy and for such other
similar purposes. The services of such temporary employee will come to
an end automatically on expiry of the period for which he is employed
unless meanwhile the period is extended in writing.

(4) Casual: A “Casual” employee is an employee who is engaged on casual

basis and who is paid on daily wages. Such employee will be employed
from day to day and the services can be discontinued at any time without
notice.

Unless otherwise specifically provided, the provisions contained in Chapter

III to VII hereunder will be applicable only to probationary and permanent
employees of the Institute.

4
[7 (A) Specified Staff : The employees referred to in Rule 7 shall include
‘Specified Staff ’whose names are included in the Schedule-G].

3
Substituted for “two years” vide Circular No. 506:2:Estt. dated 20.06.94
4
Inserted Rule 7(A), in pursuance to decision taken in the 222nd meeting of the Council, held on23.02.2014.

3
 CHAPTER - III

PAY & ALLOWANCES & OTHER CONDITIONS OF EMPLOYMENT

8. Pay Scales:

(1) The pay scales in the Institute for various categories of employees will be
as given in 5 [Schedule ‘A’] to these rules and as may be modified by the
Council of the Institute from time to time.

(2) The Institute may create any additional grade or revise the grade or grant
any special grade to any employee or grant any allowance to a particular
employee. The employee may also be given an additional increment in
the grades decided from time to time by the Council.

(3) The annual increment mentioned in each grade will be granted as

provided in para 21 of this Chapter.

(4) 6[Deleted]

(5) In the case of officers of the Central or State Government, or public sector
undertaking taken on deputation, pay shall be fixed in consultation with
the concerned parent authorities.

Provided that the appointing authority may, in lieu of such fixation under
rule 8 (5), fix the pay of the deputationist at the appropriate stage in the
time scale of the post to which he is appointed equal to the pay drawn by
him in his parent department at the time of deputation plus 20% thereof,
or if there is no such stage, at the stage immediately higher in such time-
scale, but not exceeding the maximum of the time-scale.

Provided further that no person shall be appointed on deputation to any

post in the Institute, the minimum of the time-scale of which or in the case
of post carrying a fixed pay, the fixed pay of which exceeds the actual pay
drawn by such person in his parent office at the time of deputation by
more than 33/1-3%.

(6) In the case of persons who have been superannuated from the service
of the Central or any State Government and have been re- employed in
the service of the Institute, the pay admissible shall be the pay last drawn
in the service of the Central or State Government less pension but in no
case it shall exceed the maximum of the scale of pay applicable to the

5
Amended vide Office Order No. 17/09 dated 27.02.2009 and in substitution to Office Order No. 118/97
dated 19.11.97
6
Deleted due to introduction of revised pay scales w.e.f. 1.1.2006 [In case the efficiency bar is proposed
to be imposed at the stage at which the efficiency bar is indicated in the grades then that would be done
by the appointing authority after taking into consideration the past record and after giving to the
employee concerned a chance for representation. If it is decided on considering the representation of
the employee concerned that efficiency bar is to be imposed then it will not be necessary for the Institute
to communicate the reasons to the employee.]

4
 post.
7
[While fixing the basic pay & allowances of the person/s joining the Institute
after seeking voluntary retirement from the Central Govt./State Govt., or
autonomous institutions, the pension and DA being drawn from there earlier
employer/s will not be taken into account].

9. Conditions of Employment

The following general conditions shall apply to all appointments under the
Institute:

(a) The candidate shall be certified to be medically fit by the medical officer
of the Institute or a qualified registered Medical Practitioner(s) as
approved by the appointing authority.

(b) A person who has been dismissed from service by the Institute, Central
or State Government or any public sector undertaking, will not be
eligible for appointment to the service of the Institute.
(c) No person shall be eligible for appointment who has been convicted by
a Court of Law for any offence involving moral turpitude.

10. Working hours and Overtime

Subject to any statutory restrictions employees will work during such hours
as may be prescribed by the Institute from time to time. Any employee may
be asked to work beyond the usual prescribed hours and/or on holidays
8
[including Saturdays/Sundays] notified by the Institute under Rule 29, in
case it is necessary to do so in the interest of the exigency of the work.

The working hours are as under :-

S. No. Location Working hours

9
1 [ Working Hours w.e.f.
1st January, 2010 ]

Head Quarters : 9.00 AM to 5.30 PM

(a) Lodi Road (Lunch Break :1.00 PM to 1.30
(b) Noida PM)
2 Regional and Chapter [10.00 AM to 05:45 PM
Offices (Lunch Break : 1.30 PM to 2.00
PM) ]10
3 ICSI- CCGRT 10.00 AM to 06:30 PM
(Lunch Break : 1.30 PM to 2.00
PM)
7
Inserted vide Office Order No. 64/95 dated 02.09.95.
8
Inserted vide Office Order No.117/09 dated 16.12.09 and 91/10 dated 05.10.10.
9
Introduced vide Office Order No.117/09 dated 16.12.09 and 91/10 dated 05.10.10 in substitute to
Office Order No. 2/87 dated 21.01.87 & 44/87 dated 16.10.87
10
Revised vide O/O No. 40/2013 dated 28.06.2013

5
11. Appointing Authority

The Authority competent to make appointments to various posts is as under:

(a) Officers of the level of 11[Deputy Director and above - President

(b) Officers below the level of Deputy Director], and supervisory and
non supervisory staff - Secretary.

12. Modes of Recruitment

Any post in the Institute may be filled up either by direct recruitment or by

promotion or by transfer as per the recruitment policy given in Schedule `B’
to these Rules and as may be amended by the Council from time to time.
The Institute reserves the right to keep any employee of the Central or State
Government on deputation for such period as the Institute may deem fit.
After the expiry of the period, the Institute may either repatriate such
employee or take the employee into its own employment, with the consent of
the employee as well as of the Government. It will be at the discretion of the
Institute to fill up post by any of the modes mentioned hereinabove.
12
[12(A)Nothing in these rules shall affect reservation, relaxation of age limit
& other concessions required to be provided for SCs/STs & OBCs
categories of persons in employment (Direct Recruitment & Promotion) as
per Central Government policy on reservation/concession, as amended from
time to time].

13. Qualifying Service for Promotion

No employee will be considered for promotion unless he has been confirmed

after satisfactorily completing the period of probation and has completed five
years of qualifying service in the next below post including the probationary
period. In case an employee has worked on temporary or casual basis then
the period during which he has worked on temporary or casual basis will not
be counted for the purpose of completing the five years qualifying period of
service.

14. Promotion Policy

The promotion will be made as per promotion policy given in Schedule ‘C’ to
these Rules and as may be amended by the Council from time to time.
Seniority for purposes of promotion will be counted from the date of
confirmation in the post or equivalent post and if more than one employee
are confirmed in a particular date then the seniority may be determined on
the basis of the total length of service put in by the employees or on any
other basis as deemed fit and proper by the appointing authority in the
circumstances of that case. When an employee of the Institute is promoted
from one scale to a next higher scale in the service of the Institute his initial
11
Substituted for the word “Assistant Director” vide Office Order No. 45/2014 dated 01.04.2014
12
Inserted vide Office Order No.63/06 dated 26.09.06 effective from 01.10.06.

6
 pay in the time-scale of the higher post shall be fixed at the stage next above
the pay notionally arrived at by increasing his pay in respect of the lower post
by one increment at the stage at which such pay has accrued.

15. Prescription of Qualification and Experience for each Post

The qualifications, age and experience prescribed for each post for the time
being in force will be as given in Schedule ‘D’ to these Rules and as may be
amended by the Council from time to time but the appointing authority may
relax the qualifications, age or experience for any particular post or
candidate, if the candidate selected is otherwise considered by the Selection
Committee as the most suitable for that post.

Provided that for employees in the service of the Institute as on 01.08.1979,

the qualifications prescribed in and given in Schedule `D’ will not be required
for the purpose of promotion upto the level of 13[Section Officers] subject to
the condition that the candidates are found otherwise suitable for promotion.

16. Transferability of Service

The services of an employee are transferable to any office of the Institute in

India. For journeys on transfer from one station to another at the instance of
the Institute on office exigencies, an employee will be entitled to the actual
cost of transportation and travelling allowances and as specified from time to
time by the Council. No transportation or transfer, TA/DA will be admissible if
a transfer is made by the Institute on personal grounds at the request of the
employee.

13
Substituted for the word “Desk Officer” vide Office Order No. 45/2014 dated 01.04.2014 in super
session to Office Order No. 38/02 dated 20.06.02

7
1. 14 [Transfer Grant & Transportation of Personal Effects w.e.f. 01.01.2005 :

Category Composite Personal effects

Designation Transfer
(Pre-revised basic pay) Grant By train Rate per km for
(lump-sum) transport by road
(local)*
Maximum `A-1’, `A’ Other
& `B-1’ Places
cities (Rs.)
(Rs.)
15
[Joint Secretary & Above Equal to 5,000 kg by 30.00 20.00
(Pre revised -Rs.16,400 and one month’s goods train
above) basic pay
Assistant Director & -do- 4,000 kg by 30.00 20.00
equivalent & above and goods train
upto Director
(Pre revised -Rs. 8000 to
16,399)
Section Officer] & -do- 3,000 kg by 20.00 10.00
equivalent (Pre revised -Rs. goods train
6,500 to 7,999)
Assistant & equivalent and -do- 2,000 kg by 10.00 7.50
Sr. Assistant & equivalent goods train
(Pre revised -Rs. 4,100 to
6,499)
Jr. Assistant & equivalent & -do- 1,500 kg by 7.50 5.00
below(Pre revised -Upto Rs. goods train
4,099)

(Note : * Transportation of Personal effects from residence to Railway

Station locally & from Railway Station to Residence at new place of
posting)

14
Revised vide Office Order No. 01/06 dated 02.01.06 read with Office Order No. 17/09 dated 27.02.09
in super session to Office Order No.54/87 dated 14.12.1987
15
Substituted for the words “Director” “AO” “JD” and “DO” vide Office Order No. 45/2014 dated
01.04.2014

8
2. Personal Conveyance:
Actual cost of transportation of personal conveyance i.e.
car/motorcycle/scooter/bicycle (according to the entitlement to advance for
purchase of car/motorcycle/scooter/bicycle) by passenger/goods train is
admissible.
Note :
1. Actual fare for self and family for journey as per entitlement.

2. Personal effects should be transported by goods train between places

connected by train. If transported by road, the actual expenditure or 1¼ times of
the amount admissible for transport by goods train for the maximum admissible
quantity, (whichever is less) will be admissible.

3. *Cost of transportation of “Personal Effects” from residence to railway station

(local) & from railway station to residence at new place of posting will be
reimbursed.

4. Actual cost of transportation of personal conveyance i.e.

car/motorcycle/scooter/bicycle (according to the entitlement to advance for
purchase of car/motorcycle/scooter/bicycle) by passenger/goods train is
admissible. If transported by road, the actual expenditure or 1¼ times of the
amount admissible for transport by goods train, whichever is less, will be
reimbursed.

5. An employee whose family does not accompany him/her to the new station while
joining on transfer, has an option to claim for himself/herself :

- either for the journey undertaken to join the new post

- or for the journey subsequently undertaken alongwith the family members.

6. Actual conveyance (Taxi/Auto) expense from residence to railway station and

vice-versa at both ends for the employee and members of his/her family will be
reimbursed, as per entitlement.

7. When the conveyance is sent under its own propulsion, the employee/members
of family traveling in the car will not be entitled to separate fare by air/rail/road
mileage. Separate air/rail/road mileage will be admissible for the employee
and/or members of family if they travel otherwise than by the conveyance being
transported under its own propulsion.]
16
[16(a) Further, an employee who retires from the services of the Institute on
attaining the age of superannuation or takes voluntary retirement as per the
Institute of Company Secretaries of India Service Rules, 1979, will be entitled
to the reimbursement of expenses incurred on transportation of personal
effects from the place of last posting to the declared place of home town, as
per the limits applicable on transfer.]

16
Inserted vide Office Order No. 39/2012 dated 27.03.2012 .

9
17. Termination of Service and Discharge

The services of a confirmed employee may be terminated by the appointing

authority on giving such employee:

(a) 90 days’ notice or pay in lieu thereof; or

(b) As per conditions laid down in the appointment letter.

18. Resignations

(1) A permanent employee can resign from the service of the Institute on
giving 90 days’ notice or as mutually agreed upon or as specified in the
letter of appointment. A temporary employee can leave the service on
giving 24 hours notice. No notice is required in case of casual
employee(s)/ apprentice.

PROVIDED THAT it shall be open to the appointing authority to waive

such notice partially or fully.

(2) Resignation may be accepted by the appointing authority with immediate

effect or at any time before the expiry of the period of notice, in which
case an employee shall be paid pay in respect of un-expired period of
notice given by him. In case a shorter period of notice is accepted at the
request of an employee, the employee shall be entitled to receive his pay
and allowances only in respect of actual period spent on duty in the
Institute.

19. Superannuation and Retirement

(1) Every employee appointed to the service of the Institute shall retire
when he attains the age of 17[60 (sixty)] years. 18[The date of retirement
of an employee shall be the last day of the month in which age of
superannuation is attained except an employee whose date of birth is
the 1st of the month shall retire on the afternoon of the last day of the
preceding month.]

(2) Notwithstanding anything contained in Clause (1) above, any employee

may be required by the Council or permitted at his request to retire from
the service of the Institute on completion of 20 years of service or on
attaining the age of 55 years in the Institute whichever is earlier. Such
an employee will be eligible to all the retirement benefits for the period
of service rendered by him in the Institute.

(3) Nothing contained in clause (1) and (2) above, shall affect the right of
the appointing authority to retire at any time an employee on medical
grounds.

17
Substituted for the no. 58 vide Office Order No. 76/98 dated 29.10.1998.
18
Inserted vide Office Order No. 26/89 dated 02.05.89.

10
 Provided that before acting under Clause (3) above, it shall be open to
the appointing authority to require the employee to undergo a medical
examination by such medical practitioner(s) as the appointing authority
may nominate for this purpose.

20. Allowances and Reimbursements

(1) HRA, 19[Deleted] & DA : An employee of the Institute shall be eligible for
House Rent Allowance, 20[Deleted] and dearness allowance as per the
rate applicable to Central Government employees and notified by the
Institute from time to time.

(2) Conveyance reimbursement limits 21[Section Officers], Private

Secretaries and officers who own and possess motor vehicles registered
in their names, will be eligible for conveyance reimbursement for
maintenance and use of personal vehicle for office exigencies within
limits as may be specified by the Council from time to time.
22
[W.e.f. 01.01.2006, the reimbursement of monthly conveyance expenses to
the officers who own and possess vehicles in their names and use them for
attending he office and official local journey will be as under :-

S. Category Mode of Maximum quantum of

No. conveyance fuel (Petrol/Diesel)

1 Officers in the grade Car Cost of 90 litres of petrol,

of 23[Joint Secretary & not exceeding Rs. 3,150/-
above p.m.
2 Officers in the grade Car Cost of 50 litres of petrol,
of Directors not exceeding Rs. 1,800/-
p.m.
3 Officers in the grade Car/Motor- Cost of 35 litres of petrol,
of Deputy Directors & cycle/ Scooter not exceeding Rs. 1,275/-
above p.m.
4 Other Officers in the Car/Motor- Cost of 30 litres of petrol,
grade of Section cycle/ Scooter not exceeding Rs. 1,125/-
Officers] & above but p.m.
below the category of
(3) above

19
The word “CCA” deleted w.e.f. 01.09.08 vide Office Order No. 17/09 dated 27.02.09.
20
The word “CCA” deleted w.e.f. 01.09.2008 vide Office Order No. 17/2009 dated 27.02.2009.
21
Substituted for the word “Desk Officer” vide Office Order No.45/2014 dated 01.04.2014 in
supersession to Office Order No.38/12 dated 20.06.02
22
Revised vide Office Order No. 06/06 dated 02.01.06 read with Office Order No. 118/97 dated
19.11.07, 28/94 dated 30.04.94, 20/92 dated 04.04.92, 36/90 dated 29.06.90, 48/89 dated 29/08/89,
47/89 dated 29.08.89, 39/85 dated 08/04/82, 11/82 dated 07.02.82
23
Substituted for the words “Director”, “Joint Director”, “Assistant Director” and “Desk Officer” vide Office
Order No. 45/2014 dated 01.04.2014

11
 The other conditions are as under :

(a) For attending office for 16 days or more months, Full entitlement
provided the vehicle is used for attending the as prescribed
office for a minimum of 12 days.
(b) For attending office between 10 & 15 days in a 50% of
month, provided the vehicle is used for entitlement
attending the office for a minimum of 10 days.
(c) For attending office between 5 & 9 days in a 25 % of
month, provided the vehicle is used for entitlement
attending the office for a minimum of 5 days.
(d) For attending office less than 5 days in a month. Nil

While claiming the monthly reimbursement of the fuel cost as per the
entitlements mentioned above, the officer/s should submit a declaration of
having purchased and used the quantity of fuel for which the claim is
preferred, subject to the upper limits as prescribed above].

24
[(3) Deleted]

25
(3) [Transport Allowance: The Transport Allowance is linked with the
different slabs of Grade Pay being drawn by the employees w.e.f. 1 st
September, 2008. The rates of Transport Allowance are as under:-

Grade Pay Rate of Transport

Allowance
Rs.5400 & above Rs. 3200/- + DA thereon
Rs.4200 to Rs.4800 Rs. 1600/- + DA thereon
below Rs.4200/- but drawing pay in Rs. 1600/- + DA thereon
the Pay Band equal to Rs.7440 and
above.
below Rs.4200 and drawing pay in Rs. 600/- + DA thereon
the pay band below Rs.7440/- subject to minimum of Rs.750/-]

(4) Reimbursement for maintenance of residential telephone: For

maintenance and use of personal telephone at residence for office
exigencies, expenditure incurred on rental, official trunk calls and local
calls will be reimbursed to the officers of the grade of 26[Directors] and
above having telephone connections in their names within limits as may be

24
Deleted “Conveyance allowance” as the same was discontinued and substituted with ‘Transport
Allowance’ w.e.f. 01.09.08 vide Office Order No. 17/2009 dated 27.02.2009.
25
Introduced w.e.f. 1.9.08 vide Office Order No.17/09 dated 27.02.09
26
Substituted for the word ‘Joint Director’ vide Office Order No. 45/2014 dated 01.04.2014 in super
session to office order no. 27/94 dt. 30.03.94

12
 specified by the Council from time to time.

(5) Reimbursement of Mobile Expenses: The reimbursement of Mobile

phone expenses shall be regulated as detailed below with effective from
01.04.2008:

S. No. Designation Limit of reimbursement Per Month

(Rs.)
(i)
1 [Joint Secretary (SG)] Actuals with maximum ceiling of Rs.
750 p.m. whichever is less
2 HOD’s Actuals with maximum ceiling of Rs.
500 p.m. whichever is less
3 Other Officials of Admn. & Actuals with the approval of
Council Affairs Secretary

However, (ii)[The limit for reimbursement of mobile expenses (including

internet connection) for Official use to HODs ((iii)[Director] & above) has
been revised upward upto an amount of Rs. 1000/- per month w.e.f. 1st July,
2013].

(6) Reimbursement of Children Education Expenses: Children’s Education

Expenses incurred for a maximum of two dependent children of the
employee for study upto & including senior secondary qualification will be
reimbursed by the Institute within limits, as may be specified by the Council
from time to time. 27[The reimbursement will cover tuition fee, admission
fee, laboratory fee, special fee charged for agriculture, electronics, music or
any other subject, fee charged for practical work under the programme of
work experience, fee paid for the use of any aid or appliance by the child,
library fee, games/sports fee and fee for extra-curricular activities. This also
includes reimbursement for purchase of one set of text books and
notebooks, two sets of uniforms and one set of school shoes which can be
claimed for a child, in a year. It is further clarified that the Children
Education Expenses would also be admissible for more than two dependent
children in case the number of children exceeds two as a result of second
child birth resulting in twins or multiple births. ]
28
[Note : The limit is Rs. 15,000/- per child per annum w.e.f. 01.01.2011]
(7) Reimbursement of professional membership fee: 29[Section officer] /
Assistant Education Officers and above in the administrative and academic
grades may be allowed reimbursement of annual membership fees paid by
them for any one of the professional membership qualification acquired by
them and recognized by the Council as useful and necessary for efficient
performance of their duties in the Institute.

(i)
Substituted for the words “Sr. Director” vide Office Order No. 45/2014 dated 01.04.2014
(ii)
Revised vide Office Note No. 528:1:Estt. Dated 04.07.2013.
(iii)
Substituted for the words “Joint Director” vide Office Order No. 45/2014 dated 01.04.2014
27
Inserted vide Office Order No.87/09 dated 10.08.2009 w.e.f. 01.04.2009.
28 Revised vide Office Order No. 57/2013 dated 02.09.2013 and vide O/O 17/2009 dated 27.02.2009.
29 Substituted for the word ‘Desk Officer’ vide Office Order No. 45/2014 dated 01.04.2014 in
supersession to Office Order No. 38/02 dated 20.06.2002.

13
21. Increments

Increment in the time scale of a grade or post to which an employee is

appointed shall ordinarily be drawn subject to the following conditions:-

(a) Annual increments on completion of a year will be drawn in respect of

each employee every year on 30[Deleted] 31[1st July].

(b) An increment shall not be drawn unless it is sanctioned in writing by the

Appointing Authority or any Authority authorized by him.
32
(c) [Deleted]

(d) The appointing authority may, in recognition of the merit of an employee,

sanction such additional increment(s) as may deem fit and it will be drawn
effective from 33[Deleted] 34[1st July] of that year as may be specified by
him.

(e) Persons appointed or promoted on probation in any grade or post in

between a financial year, shall be entitled to draw their first increment on
completion of one year of service 35 [Deleted]. 36[There will be a uniform
date of Annual Increment viz. 01st July of every year.]
37
[The rate of increment will generally be 3% of the sum of the pay in the
pay band and grade pay rounded off to the next multiple of 10. However,
increment at differential rates to outstanding, non/under performers may
be considered on the recommendation of a Committee constituted by the
competent authority for the purpose. The amount of increment will be
added to the existing pay in the pay band.]
38
(f) [Deleted].

30 Deleted the words “1st April or 1st October”.

31 Substituted for the words “1st April or 1st October” vide Office Order No. 17/09 dated 27.02.09 w.e.f.
01.01.06.
32 In view of revision of pay scales vide Office Order No. 17/09 dated 27.02.09, deleted the words “Where an
efficiency bar is prescribed, the increment next above the bar shall not be drawn without specific sanction of the
appointing authority in writing removing the efficiency bar”.
33 st St
Deleted the words “1 April or 1 October”.
34 st St
Substitute the words “1 April or 1 October” w.e.f. 1.1.2006 vide office order no. 17/09 dated 27.02.09.
35 st St
Deleted the words ‘either from 1 April or 1 October, whichever is earlier. In view of revision of pay scales
vide Office No. 17/2009 dated 27.02.09.
36
Introduced vide Office Order No. 17/09 dated 27.02.09 due to revision of Pay Scales w.e.f. 01.01.06.
37
Introduced vide Office Order No. 17/09 dated 27.02.09 due to revision of Pay Scales w.e.f. 01.01.06.
38
An employee stagnated in the maximum of a grade, may be allowed to draw a maximum of two increments beyond
the time scale in very alternative year on reaching the maximum of the scale.

14
 CHAPTER – IV

TRAVELLING AND DAILY ALLOWANCE, LEAVE TRAVEL CONCESSION AND

ENCASHMENT OF LEAVE

39
22. [Travelling allowance on tour]
The travel entitlement and dearness allowance of the employees of the Institute
while on tour as revised w.e.f. 01.11.09 are as under :

Grade Pay Travel Travel Daily Allowance

entitlements entitlements
(By Air/Train) (By Road)
Officers who Economy Class Actual fare by any Reimbursement for
are in the pay by air/AC First type of public bus Hotel accommodation /
scale of HAG class by train including air- guest house of upto Rs.
+ and above conditioned bus Or 4,000/- + Taxes per
at prescribed rates day, reimbursement of
of AC Taxi when AC Taxi charges of
the journey is upto 50 k.m. for travel
actually performed within the City and
by AC Taxi. reimbursement of food
expenses not
exceeding Rs. 500/- per
day.
Officers Economy Class Actual fare by any Reimbursement for
drawing grade by air/AC First type of public bus Hotel accommodation /
pay of class by train including air- guest house of upto Rs.
Rs. 10,000 condition bus Or 3,500/- + Taxes per
and above prescribed rates of day, reimbursement of
AC Taxi when the AC Taxi charges of
journey is actually upto 50 k.m. for travel
performed by AC within the City and
Taxi. reimbursement of food
expenses not
exceeding Rs. 500/- per
day.

39
Substituted vide Office Order No. 123/09 dated 16.12.09

15
 Grade Pay Travel Travel Daily Allowance
entitlements entitlements
(By Air/Train) (By Road)
Officers Economy Class Actual fare by any Reimbursement for
drawing grade by air/AC First type of public bus Hotel
pay of class by train including air- accommodation/guest
Rs. 7600 and conditioned bus Or house of upto
Rs. 8700 prescribed rates of Rs. 3,000/- + Taxes per
Taxi when the day, reimbursement of
journey is actually Non-AC Taxi charges
performed by Taxi of upto 50 k.m. per day
Or at prescribed for travel within the City
rates for journey by and reimbursement of
auto-rickshaw. food expenses not
exceeding Rs. 300/- per
day.
Officers Economy Class Actual fare by any Reimbursement for
drawing grade by air/AC II Tier type of public bus Hotel
pay of class by train including air- accommodation/guest
Rs. 5400 and conditioned bus Or house of upto Rs.
Rs. 6600 prescribed rates of 1,500/- + Taxes per
Taxi when the day, reimbursement of
journey is actually Taxi charges of upto
performed by Taxi Rs. 150 per day for
Or at prescribed travel within the City
rates for journey by and reimbursement of
auto-rickshaw food expenses not
exceeding Rs. 200/- per
day.
Officers AC II Tier Class Actual fare by any Reimbursement for
drawing grade by train type of public bus Hotel accommodation /
pay of Rs. including air- guest house of upto
4800 and conditioned bus Or Rs. 500/- + Taxes per
Officials prescribed rates of day, reimbursement of
drawing grade Taxi when the travel charges of upto
pay of Rs. journey is actually Rs. 100 per day for
4200 performed by Taxi travel within the City
Or at prescribed and reimbursement of
rates for journey by food expenses not
auto-rickshaw exceeding Rs. 150/- per
day.

16
 Grade Pay Travel Travel Daily Allowance
entitlements entitlements
(By Air/Train) (By Road)
Officials First Class/AC III Actual fare by any Reimbursement for
drawing grade Tier / AC Chair type of public bus Hotel
pay below Rs. car by train other than air- accommodation/guest
4200 conditioned bus Or house of upto Rs.
at prescribed rates 300/- + Taxes per day,
for journey by auto- reimbursement of travel
rickshaw. charges of upto Rs. 50
per day for travel within
the City and
reimbursement of food
expenses not
exceeding Rs. 100/- per
day.

The above revised travel entitlements are subject to the following :-

(i) In case of places not connected by Rail, travel by AC Bus for all those
entitled to travel by AC II Tier and above by Train & by Deluxe / Ordinary
Bus for others may be allowed.

(ii) In case of Road travel between places connected by Rail, travel by any
means of public transport is allowed provided the total fare does not
exceed the train fare by the entitled class.

Note :
(i) An employee will be considered to be on tour while he is away from his
designated workplace with proper sanction of the Secretary either
within or beyond sphere of his/her duty.
(ii) If boarding & lodging is provided either by the Institute or any outside
organization, 50% of entitled daily food expenses will only be
admissible on such days.
(iii) For the days of Casual Leave and any other leave availed during the
tour, no daily allowance will be admissible for such leave period.
(iv) Reimbursement for hotel accommodation/guest house shall be made
only on production of valid receipts.
(v) Reimbursement for travel within the city and of food expenses shall be
made against declaration made by the employee.
(vi) If any travelling expenses higher than the limits as specified above,
have necessarily been incurred, such travelling allowance bills can be
approved by the President in the case of Secretary and by the
Secretary in the case of all other employees of the Institute.

17
23. Leave Travel Concession

(a) The LTC of the Institute is admissible only to permanent employees.

(b) 40[The travel entitlements relating to Leave Travel Concession as revised

w.e.f. 01.04.09 are as under :

Grade Pay Travel Entitlements

(1) (2)
Officers who are in the pay scale of Economy Class by air/AC First
HAG + and above class by train
Officers drawing grade pay of Economy Class by air/AC First
Rs. 10,000/- and above class by train
Officers drawing grade pay of Economy Class by air/AC First
Rs. 7600 and Rs. 8700 class by train
Officers drawing grade pay of Economy Class by air/AC II Tier
Rs. 5400 and Rs. 6600 class by train
Officers drawing grade pay of AC II Tier Class by train
Rs. 4800
and Officials drawing grade pay of
Rs. 4200
Officials drawing grade pay below First Class/AC III Tier / AC Chair
Rs. 4200 car by train

It is clarified that the officials who are entitled to travel by Air will be allowed
only the cheapest economy fare.]
41
[An employee can travel by Rajdhani / Shatabdi trains also while on LTC as
per the entitlement & admissibility to their grade & scale of pay. The
reimbursement of travel expenses by Shatabdi / Rajdhani Express shall be
admissible only in such cases where journey is actually undertaken by these
trains and not for the purpose of determining entitlement on notional basis.]

(c) The LTC is admissible either to Home Town or any other place in India once
in a block of two calendar years in respect of the employee and his family
and not exceeding 42[two unmarried dependent children.]

An employee travelling to any place other than Home Town will be entitled to
reimbursement of travelling expenses incurred on rail/bus/steamer fare not
exceeding one month’s gross salary (excluding conveyance, washing and
any other special allowance) or alternatively, the employee can travel to
home town by the admissible mode of transport and class of travel by a
practicable direct route and claim reimbursement as normally applicable to
Central Government employees.

40
Substituted as per Office Order No. 86/09 dated 10.08.09.
41
Inserted vide Office Order No. 05/06 dated 02.01.06 w.e.f. 01.01.06
42
Substituted for three unmarried dependent children vide Office Order No. 05/92 dated 23.03.92

18
(d) The LTC is admissible once in alternative block of two calendar years to any
place in India by the admissible mode of transport and class of travel by
practicable direct route and the employee can claim reimbursement as
normally applicable to Central Government employees in respect of himself,
his wife / her husband, the wholly dependent parents who are residing with
the employee and a maximum of two unmarried dependent children.
43
[Provided that the dependent children whose income from all sources does
not exceed Rs.1,500 per month].

(e) For travel to a place other than home town, the employee and his family
member(s) should travel together.

(f) The block of two calendar years will be treated to have commenced from 1st
January, 1984.

(g) The LTC will be granted to an employee only when he avails of earned leave
44
[or Casual Leave] for a minimum period of five days, 45[which can be
prefixed / suffixed with the closed holidays including the Restricted Holidays]
subject to prior permission of HOD/Secretary.

(h) In all cases of LTC, necessary proof of journeys is to be produced to the

satisfaction of the Institute for reimbursement of expenses as admissible.

(i) If an employee avails of LTC to visit a place other than home town under
clause (c) above, he may use a higher mode of transport but the
reimbursement will be limited to the bus/steamer/rail fare of the class of travel
to which he is entitled.

(j) In the case of journey to any place other than home-town, the route of
journeys should be on the practicable direct route and should not be farther
than the destination declared for the purpose of LTC. In case the journey is
to be performed on a route other than the practicable direct route, the same
has to be indicated in the application for LTC advance for specific approval.

(k) If the employee avails of LTC in respect of spouse employed in an office

other than the Institute of Company Secretaries of India, the employee
should furnish a certificate as under at the time of preferring the claim for
LTC:

“Certified that my wife/husband for whom LTC is claimed by me is employed

in________________________________ (Name of the Government
Department/Public Sector Undertaking/Corporation / Autonomous Body, etc.)
which provides Leave Travel Concession facilities but he/she not preferred
and will not prefer, any claim in this behalf to his/her employer.”

43
Inserted vide Office Order No. 11/98 dated 06.04.98 w.e.f. 01.04.98
44
Inserted vide Office Order No. 21/07 dated 01.06.07
45
Inserted vide Office Order No. 21/07 dated 01.06.07

19
 46
[An employee (including unmarried) having his/her family residing at his/her
declared Home-Town, can avail the LTC for himself/herself alone ‘every year’
as per admissible class of entitlement, instead of having it for both i.e. self &
family members, as admissible under Rule 23 (c) & (d).

Note: Such employees opting for LTC shall have to exercise their option
immediately in writing, for the existing Block (year 2010-2013) and also at
the beginning of the subsequent Block Year (2014-2015) & so on.]

24. Encashment of Earned Leave

Encashment of Earned Leave can be allowed to an employee once in a year,

after leaving a minimum of 15 days earned leave to his credit in the leave
account. The advance credit of leave will not be allowed for the purpose of
counting of 15 days. For the purpose of computation of leave encashment,
only the Basic Pay, 47 [Deleted] 48[Grade Pay] and Dearness Allowance will
be taken into account.

24 (i) Encashment of Sick Leave

(1) An employee be allowed encashment of Sick Leave lying at his credit upto
a maximum of 120 full days for good, efficient and faithful services on the
termination of his employment due to :

(a) Discharge or abolition of post;

(b) Permanent incapacity on account of bodily or mental infirmity;

(c) Retirement (voluntary or superannuation);

(d) Death or disablement due to accident or disease;

(e) Resignation or termination on any ground except on account of

dismissal from service, subject to the condition that entitlement for
encashment of sick leave on resignation or termination shall be as
under:

(i) 20% of the Sick Leave at credit where the employee has rendered
continuous service of upto 5 years.

(ii) 40% of the Sick leave at credit where the employee has rendered
continuous service of more than 5 years but not exceeding 10
years

(iii) 60% of the Sick leave at credit where the employee has rendered
continuous service of more than 10 years but not exceeding 15
years.

46
Inserted vide Office Order No. 21/07 dated 01.06.07
47
Deleted word ‘Dearness Pay if applicable’ w.e.f. 01.01.06.
48
Inserted vide Office Order No. 17/09 dated 27.02.09

20
 (iv) 80% of the Sick leaves at credit subject to maximum of 120 full
days where the employee has rendered continuous service of
more than 15 years but not exceeding 20 years.

(v) 100% of the Sick Leave at credit subject to maximum of 120 full
days where the employee has rendered continuous service of
more than 20 years.

(2) The following employees shall not be eligible for encashment of leave:

(a) Casual, temporary and probationary employees;

(b) Government servants and others employed on deputation;
(c) Employees on contract basis; and
(d) Re-employed persons.

(3) For the purpose of computation of encashment of sick leave, only the Basic
Pay, 49[Deleted], 50[Grade Pay] and Dearness Allowance will be taken into
account.

49
Deleted word “Dearness Pay if applicable” w.e.f. 1.1.06
50
Inserted Office Order No. 17/09 dated 27.02.09

21
 CHAPTER – V

LEAVE AND HOLIDAYS

25. Leave Entitlement

(1) All leave will be granted at the convenience of the Institute and nothing shall
limit the free discretion of the Institute to refuse, revoke or curtail leave as the
exigencies of the Institute work may require from time to time.

(2) In the interest of the Institute and at the sole discretion of the Institute, an
employee may be directed to go on leave for a specified period.

(3) All 51[Saturdays], Sundays and Holidays which fall at the beginning and/or at
the end of the period of leave shall not be counted as part of the leave.
52
[Saturdays], Sundays and Holidays which fall within the leave period shall,
however, be counted as part of the leave except in case of Casual Leave.

(4) All leave except earned leave lapses on the cessation of the employee’s
service except in the case of retrenchment, death or retirement.

(5) The employees on leave shall not take up any other service, assignment or
employment without the prior written approval of the Secretary and in the
case of Secretary with the prior written approval of the President.

(6) For the purposes of calculating leave account, year shall mean calendar year
commencing on the first day of January of each year.

(7) For the purpose of these rules “Leave Pay” shall mean regular monthly
emoluments drawn by the employee immediately before proceeding on
leave.

26. Kinds of leave and their Entitlement

The following kinds of leave shall be admissible to an employee:

(1) Casual Leave: 12 days in the course of a year. Casual leave will be
admissible to all employees excluding casual and temporary employees
but including probationers. Unavailed Casual Leave shall lapse at the
end of every year and no pay shall be due or payable in lieu of Casual
Leave. Casual leave may ordinarily be granted for religious
ceremonies, sickness and/or unforeseen reasons. Applications should
normally be made in advance. If it is not possible for an employee to
apply in advance then he shall apply for the same as soon as
practicable. Casual leave shall not be combined with any other leave
except Restricted Holiday.

51
Inserted word “Saturday” due to introduction of five day week w.e.f. 1.1.2010 vide Office Order No.
107/10.
52
Inserted word “Saturday” due to introduction of five day week w.e.f. 1.1.2010 Office Order No. 107/10.

22
 (2) Special Casual Leave: Special casual leave may be granted to an
employee who is not able to attend office due to civil disturbances, curfew
or riots. An employee who donates blood on a working day may be
granted Special Casual Leave for that day. Any employee participating in
sports events of national or international importance in a representative
capacity may be granted Special Casual Leave for a period not exceeding
30 days in any one calendar year.

(3) Earned Leave:

(a) A permanent employee shall be credited 30 days Earned Leave

during the course of a year. Credit of 15 days leave will be given to an
employee on the first day of January and July every year for every
completed year of service. For service of less than 12 months,
proportionate Earned Leave shall be credited to an employee for
every completed month. Earned leave may be accumulated upto a
maximum period of 53[300 days]. All accumulated leave in excess of
this period shall lapse and stand forfeited and no leave pay shall be
due or payable in respect of such excess leave unless such excess
accumulation is sanctioned in writing by the President. For the
purpose of calculating the period of Earned Leave due to an
employee, his probationary period of service, if any, shall be taken into
account.

(b) Except and to the extent provided by any law, no employee shall be
entitled to encashment of leave if he is dismissed or discharged on
account of misconduct or if he resigns from the service.

(c) Pay in lieu of accumulated earned leave may be paid to an employee

who resigns from service after due notice and who has completed a
minimum period of 2 years service and with the written approval of the
President.

(d) On retirement an employee may be allowed encashment upto a

maximum of 54[300] days of his accumulated earned leave.

(e) Earned leave shall not be combined with casual Leave. Restricted
Holiday can be prefixed or suffixed with Earned Leave.

(f) No employee on leave shall return to duty before the expiry of the
period of leave granted to him except with the permission of the
appointing authority.

(g) When an employee who has proceeded on leave with pay is directed
by the Institute to rejoin duty before he has fully availed of the leave
granted to him, he shall be deemed to have rejoined duty on the date
on which he commences his journey from leave station for reporting to
53
Substituted for ‘240 days’ vide Office Order No. 5/98 dated 18.2.1998 w.e.f. 18.02.98
54
Substituted for ‘240 days’ vide Office Order No. 5/98 dated 18.2.1998

23
 the place of duty as directed by the Institute. In such an event, an
employee shall be permitted on rejoining duty either:

(i) To carry forward to his leave account the portion of the sanctioned
leave not availed of by him;
(ii) To retain the leave pay if already drawn by him whereupon his
leave account shall be debited for the full period of leave as
sanctioned.

(4) Leave on Half Pay:

(a) A permanent employee shall be eligible for leave on half pay in two
installments of 10 days each on 1st January and 1st July of each year.

(b) An employee may be granted leave on half pay either on a certificate

of sickness from a medical practitioner(s) approved by the Institute in
this behalf or on private affairs. The leave on half pay for private
affairs shall not be granted unless the earned leave to the credit of an
employee is exhausted

(c) Leave on half pay on certificate of sickness may be commuted to

leave on average pay for the period of leave due on half pay.

(d) The leave on half pay account of the employee will be debited for
twice the period of such commuted leave.

(5) Maternity Leave:

Maternity leave on full pay for a period not exceeding 55 [135 days], may
be granted to a female employee on not more than two occasions during
the entire service. Maternity leave may be combined with any other kind
of leave except Casual Leave. However, any leave applied for in
continuation of the former leave may be granted only on sickness of the
employee or her child, supported by a medical certificate approved by the
medical officer of the Institute. It may also be granted to employee on
probation; provided no maternity leave shall be admissible in the first
nine months of employment.

Maternity leave would include abortion leave but leave on full pay in case
of abortion would be restricted to a total period of not more than 45 days.
However, during the entire service only on two occasions a female
employee shall be eligible for grant of maternity leave including leave
granted, if any, in case of abortion.

55
Substituted for 90 days vide Office Order No. 123/97 dated 29.11.1997

24
 (6) Extraordinary Leave:

Extraordinary leave may be granted in special circumstances when no

other leave is admissible or when it is specifically asked for in writing,
subject to the following conditions :

(a) It is not debited against the leave account.

(b) No leave salary is admissible during such leave. 56[ However, HRA 57
[Deleted] will be admissible for the first 180 days of all kinds of leave
including extraordinary leave without pay.]

(c) It may be combined with any other kind of leave but the total period of
such combined absence should not exceed 58 [five years].

(d) The appointing authority, to grant leave, may commute retrospectively

periods of absence without leave into extraordinary leave.

(e) “Extraordinary leave allowed otherwise than on medical grounds,

supported by medical certificate approved by the medical officer of the
Institute, will not be counted for increments.” 59 [deleted].
60
[deleted].
61
[(7) Acceptance of service or employment while on leave]

An employee of the Institute while on leave including leave preparatory to

retirement shall not take up any service or employment elsewhere without
obtaining the previous sanction of :–

(i) The President of the Institute if the proposed service or employment lies
elsewhere than in India, or

(ii) The authority empowered to appoint him, if the proposed service of

employment lies in India.

56
Inserted vide Office Order No. 19/96 dated 09.02.1996
57
Deleted words “& CCA” due to discontinuation of ‘CCA’ w.e.f. 01.09.08 vide Office Order No. 17/09 dated
27.02.09.
58
Substituted for the word ‘three years’ vide circular no. 515:5:Estt. dated 1.9.2001
59
[In view of revision of pay scale vide Office Order No. 17/2009 dated 27.02.09], deleted the words “As there
are only two increment dates in the Institute viz., 1st April and 1st October every year.”
60
In view of revision of pay scale w.e.f. 1.1.2006 vide Office Order No. 17/2009 dated 27.02.09, deleted the
words “ in case of extraordinary leave allowed for a period not exceeding 30 days in the previous year, on
grounds other than medical grounds the annual increment date will be deferred by one month and for that
year. [For example, if an employee has been allowed 30 days (or less) extraordinary leave without pay in
January 1991 and his annual increment falls on 1st April, 1991, he will be eligible for grant of annual
increment with effect from 1st May, 1991 for the year and the next increment will fall due for release on 1st
April, 1992. However, if he had taken 31 days (or more) of such extraordinary leave in January 1991 his/her
annual increment date will be postponed to 1st October, 1991 and the next increment will become due for
release on 1st October 1992”.
61
Inserted new clause vide Office Order No. 128/97 dated 08.12.97 w.e.f. 08.12.97.

25
 62
[ Paternity Leave :

(a) W.e.f. 1.10.2004, a male employee of the Institute, whether on

probation or permanent, with less than two surviving children may be
granted Paternity Leave by an authority competent to grant leave for a
period of 15 days during the confinement of his wife i.e. 15 days
before or upto six months from the date of the delivery of the child and
if such leave is not availed within this stipulated period it shall be
treated lapsed.

(b) The Paternity Leave of 15 days would be availed by the employee in

one spell only.

(c) The employee availing Paternity Leave should furnish the requisite
medical certificates in support of the delivery of the child.
(d) The Paternity Leave shall not be debited against the leave account
and may be combined with any other kind of leave except Casual
Leave.
(e) During the period of Paternity Leave he shall be paid leave salary
equal to the pay drawn immediately before proceeding on leave.]
63
[Compensatory Leave ]

(a) Staff : An employee specifically required to work in the office on a holiday

would be granted a Compensatory off if he has worked for full day (7 hours
45 minutes at Regional Offices & Chapter Offices OR 8 hours 30 minutes
at other offices including half an hour lunch break). The compensatory
leave should normally be availed of within three months from the date of
holiday. Further, compensatory off would be allowed at the discretion of
the Departmental Head.

An officer specifically required to work in the office on a holiday can claim

Compensatory Leave OR specified Consolidated amount.

An employee of the level of Senior Assistant or equivalent and below

specifically required to work in the office on a holiday may claim
Compensatory Leave OR specified Consolidated amount OR Overtime
Allowance at the specified rates.

27. Over-stay after expiry of leave

No employee will be allowed to over-stay after expiry of leave unless the

appointing authority has otherwise directed him in writing. If an employee
over-stays or extends leave for more than 8 days without any substantial
reason to the satisfaction of the Institute he will be liable for disciplinary
action.

62
Introduced vide Office Order No. 44/04 dated 1.10.04 w.e.f. 1.10.04
63
Inserted vide Office Order No. 45/2013 dated 03.07.2013 in supersession to Office Order Nos. 38/87,
56/92, 63/11

26
28. Procedure for grant of leave

(1) An employee before proceeding on leave shall make an application in

such form as may be prescribed by the Institute and shall also state in
writing his leave address while on leave and shall keep the Institute
informed through his immediate officer of any subsequent change in such
address.

(2) No employee shall proceed on leave unless it has been sanctioned in

writing.

(3) Every employee on return from leave shall submit his joining report in the form
as may be prescribed by the Institute.

29. Holidays - Public and Restricted

An employee of the Institute shall be eligible for such public and restricted
holidays as may be notified by the Institute for each calendar year.

27
 CHAPTER - VI
REIMBURSEMENT OF MEDICAL EXPENSES

30. All permanent employees of the Institute shall be eligible for reimbursement
of medical expenses as notified by the Council from time to time and for
assistance as per “Medical & Hospitalization Plan” as given in Schedule-‘E
& E-1’ to these Rules and as may be amended by the Council from time to
time.
If at any time the Employees State Insurance Scheme is made applicable to
the Institute, the medical reimbursement scheme will be replaced by the
Employees State Insurance Scheme.

28
 CHAPTER – VII

ADVANCES TO EMPLOYEES OF THE INSTITUTE

31. Kinds of Advances

Advances admissible to the employee of the Institute may be classified as

under:-

(a) Advance on tour

(b) Festival Advance
(c) Advance for purchase of conveyance
(d) Medical Advance
(e) Salary Advance
64
[(f) Special Loan]
65
[(g) House Building Advance]
66
[(h) Computer Advance]

32. Eligibility
The grant of advance will be in accordance with the procedure laid down by
the Council from time to time as given in the respective Annexures and will in
all cases be subject to the condition that the Secretary is satisfied that the
employee will, in the normal exigencies of his services, continue in the
employment of the Institute until the expiry of the period within which the
advance is recoverable.

33. Advance on Tour

The amount to be granted shall not exceed the amount of travelling

expenses to which the employee would ordinarily be eligible for the proposed
tour. The advance will be recoverable in one installment by cash or by
adjusting against the amount payable to him by way of travelling allowance
or salary within a period of one month from the date of his return from tour.

34. Festival Advance

67
[With effect from 1st September, 2008, an employee with grade pay upto
Rs.4,200/- may be granted, once in a year, an interest free Festival Advance
not exceeding Rs. 3,000/-.] The festival advance may be sanctioned for
such festivals which are actually observed in the Institute and have been
notified for this purpose. The festival advance shall be recovered in not more
than ten equal monthly installments from the salary commencing from a
month following the month in which the festival advance is made.
64
Refer Rule 38 at page 32 for terms & conditions of the loan.
65
Refer page 35 for terms & conditions of the loan.
66
Refer page 38 for terms & conditions of the loan.
67
Substituted for the (i) Basic Pay Rs. 8300/- p.m. vide Office Order No. 12/98 dated 6.4.08, 1.5.86 (ii)
Basic Pay Rs. 2850/- p.m. vide Office Order No. 59/87 dated 29.12.87 & (iii) Basic Pay Rs. 1000/- p.m.
vide Office Order No. 14/86 dated 1.5.1986 and revised to Rs. 1200/- vide Office Order No. 122/97 dated
29.11.97, Rs. 600/- vide Office Order No. 34/92 dated 8/13.07.92, Rs. 400/- vide Office Order No. 58/87
dated 29.12.87 & 14/86 dated 1.5.86.

29
35. Advance for purchase of conveyance

(A) 68 [Advance for purchase of Motorcycle / Scooter / Bicycle as revised with

effect from 1st January, 2010 are as under : ]

1. Eligibility

(i) Motor Cycle / Scooter

All regular confirmed employees in the pay band of Rs. 5200-20200 (PB-1)
and in the grade pay of Rs. 2400 and above are eligible OR the permanent
employees who have completed atleast five years of service.

(ii) Bicycle

Employees in the pay band of Rs. 5200-20200 (PB-1) and in the grade pay of
Rs. 1900 and below are eligible.

2. Quantum of advance

(i) Motor Cycle (New)

An advance not exceeding Rs. 50,000 or 80% of the cost of the vehicle,
whichever is lower, subject to availability of funds.

(ii) Scooter (New)

An advance not exceeding Rs. 40,000 or 80% of the cost of the vehicle,
whichever is lower, subject to availability of funds.

(iii) Bicycle (New)

An advance not exceeding Rs. 3,000 or actual cost of the vehicle, whichever is
lower.

(iv) Motor Cycle (Old)

The quantum of advance for the purchase of a motor cycle (Old) shall be
restricted to Rs. 40,000 or 80% of the cost of the anticipated price of the
vehicle whichever is lower. Provided further that in case of purchase of second
hand motor cycle, it may be supported by a valuation certificate issued by any
workshop to the satisfaction of the Institute. Valuation certificate charges will
be borne by the official concerned.

68
Revised vide Office Order No. 119/09 dated 16.12.09.

30
 (v) Scooter (Old)

The quantum of advance that may be granted for the purchase of a scooter
(old) shall be restricted to Rs. 25,000 or 80% of the cost of the anticipated
price of the vehicle which ever is lower. Provided further that in case of
purchase of second hand scooter, it may be supported by a valuation
certificate issued by any workshop to the satisfa1ction of the Institute.
Valuation certificate charges will be borne by the official concerned.

(vi) Bicycle (Old)

An advance not exceeding Rs.2,000 or actual cost of the vehicle, whichever is

lower.

(vii) for purchase of Motor Cycle/Scooter on second or subsequent

occasion

The second or subsequent advance will be admissible only after the lapse of
four years, reckoned from the date of withdrawal of the last advance. Further,
the quantum of advance that may be granted on the second or subsequent
occasions shall be restricted to the entitled amount (less the payment received
by the employee on the sale of the conveyance purchased with the Institute’s
loan) or the anticipated price of the conveyance whichever is least.

(viii) for purchase of bicycle on second or subsequent occasion

The employee can draw the advance on second or subsequent occasions only
after four years from the grant of last advance if the same was drawn for
purchase of a new bicycle.

In case the last advance was drawn for a second-hand bicycle, the advance for
replacing the old bicycle can be drawn after three years from the date of
drawal of the last advance.

3. Other terms & conditions applicable for purchase of Motor Cycle /

Scooter/Bicycle :

(a) The principal amount of the advance sanctioned for scooter or motorcycle
will be repayable in not more than 70 monthly installments & in the case of
bicycle the advance shall be repayable in not more than 25 equal monthly
installments. The recovery of the amount of advance will commence with the
first payment of salary subsequent to the month in which the advance is
drawn.

(b) The employee shall execute an agreement in the prescribed format before
the advance is drawn by him.

31
 (c) Simple interest at the rate as fixed by the Council after taking into account
the rate followed in the Central Government offices, will be charged and
such interest shall be calculated on balance outstanding on the last day of
each month. The amount of interest so calculated will be recovered in the
minimum number of monthly installments; the amount of each such
installment being not less than the amount of installments of principal. The
recovery of the amount of interest will commence from the month
immediately following the month in which the repayment of the advance is
completed.

(d) The purchase of conveyance should be made within thirty days and its
registration with transport authority (applicable for motor cycle /scooter)
should be completed within a maximum period of sixty days from the date of
withdrawal of the advance, failing which the entire amount together with
interest accrued thereon is to be refunded forthwith. In case the amount of
advance is retained without the purchase of the conveyance beyond one
month, without the written approval of the Institute, penal interest @2% over
and above the rate in force will be charged for the period in excess of one
month. However, the advance will not be allowed to be retained for more
than two months under any circumstances.

(e) The conveyance so purchased out of the advance cannot be sold,

mortgaged, transferred, etc. to any third party until the entire amount of
advance & interest thereon had been repaid and clearance obtained from the
Directorate of Finance & Accounts of the Institute.

(f) The employee should comprehensively insure the conveyance (applicable for
motor cycle/scooter) so purchased to the satisfaction of the Institute, against
loss or damage by fire, theft, riots or accident from the date of its purchase
till the advance and the interest on such advance is fully re-paid. Interest of
the Institute in the vehicle should be shown in the policy. The
comprehensive insurance policy will have to be renewed each year and a
certificate in the prescribed format to this effect should be furnished to the
Directorate of Finance & Accounts by the employee concerned.

(g) The invoice, cash receipt, comprehensive insurance policy and the
registration book of the conveyance in the name of the employee should be
produced to the Directorate of Finance & Accounts of the Institute for
verification within a period of sixty days and in the case of bicycle only
invoice & cash receipt in the name of employee should be produced.

(h) On completion of purchase, the employee should execute a simple mortgage

in the prescribed form hypothecating the conveyance (applicable for motor
cycle/scooter) to the Institute as security for the advance.

(B) 69 [Advance for purchase of Motor Car as revised with effect from 1st January,
2010 are as under : ]

69
Revised vide Office Order No. 118/09 dated 16.12.09

32
1. Eligibility

All permanent Officers in the grade/category of 70[Deputy Director] in the Pay

Band of Rs.15600-39100 (PB-3) & Grade Pay of Rs.6600/- and above, are
eligible for grant of advance.

2. Quantum of Advance

(a) For Purchase of New Vehicle

Restricted to Rs.3,00,000 or 80% of the cost of vehicle or 15 months basic pay

+ grade pay, which ever is less, subject to availability of budgetary provision
and funds.

(b) For Purchase of second-hand vehicle

Restricted to Rs.2,00,000 or 80% of the cost of vehicle or 15 months basic

pay + grade pay which ever is less. Provided further that in case of purchase
of second-hand motor car, it may be supported by a valuation certificate issued
by Automobile Association of Upper India (AAUI)/any other workshop to the
satisfaction of the Institute. Valuation certificate charges will be borne by the
officer concerned.

(c) For Purchase of vehicle on second or subsequent occasion

The amount realized or expected to be realized against the sale of existing

conveyance purchased out of the earlier advance granted by the Institute
would be deducted from the admissible limit of advance.

If a scooter/motor cycle purchased out of the advance drawn from the Institute
is sold and advance for purchase of car is applied for, it will be treated as a
second advance.

For drawal of second or subsequent car advance, there should be a minimum

gap of two years from the date of repayment of earlier advance.

Repayment :

In not more than 120 equal installments. The first installment will start from the
salary of the month following the month in which the amount of advance has
been drawn.

The rate of interest will be as decided by the Institute from time to time after
taking into account the rate of interest charged by the Central government for
its employees in such cases.

70
Substituted for the word “Assistant Director” vide Office Order No. 45/2014 dated 01.04.2014

33
 Other terms & conditions :

(a) The Officer shall execute an agreement in the prescribed format before the
advance is drawn by him.

(b) The purchase of vehicle should be made within 30 days and its registration with
the transport authority should be completed within a maximum period of 60 days
from the date of withdrawal of the advance, failing which the entire amount
together with interest accrued thereon is to be refunded forthwith. In case, the
amount of advance is retained without the purchase of the vehicle beyond one
month without the written approval of the Institute, penal interest @ 2% over and
above the rate in force will be charged for the period in excess of one month.
However, the advance will not be allowed to be retained for more than two
months under any circumstances.

(c) The vehicle so purchased out of the advance granted by the Institute, cannot be
sold, mortgaged, transferred, etc, to any third party until the entire amount of
advance and interest thereon had been repaid and clearance obtained from the
Directorate of Finance & Accounts.

(d) The employee should comprehensively insure the vehicle so purchased to the
satisfaction of the Institute, against loss or damage by fire, theft, riots or accident
from the date of its purchase till the advance and the interest on such advance is
fully re-paid. Interest of the Institute in the vehicle should be shown in the policy.
The comprehensive insurance policy will have to be renewed each year and a
certificate in the prescribed format to this effect should be furnished to the
Directorate of Finance & Accounts by the employee concerned.

(e) The invoice, cash receipt, comprehensive insurance policy and the registration
book of the conveyance in the name of the employee should be produced to the
Directorate of Finance & Accounts of the Institute for verification within a period
of sixty days.

(f) On completion of purchase, the employee should execute a simple mortgage in

the prescribed form hypothecating the conveyance to the Institute as security for
the advance.

(g) The loanee officer shall execute a personal bond and also furnish a surety bond
from a confirmed employee of the Institute who has not availed of the Motor Car
Advance or the House Building Loan from the Institute and also has not stood
surety for any other employee of the Institute. Further, the surety should be an
employee whose date of retirement from the Institute is subsequent to that of the
loanee. However, a loanee is permitted to submit surety bond signed by an
employee who retires before the loanee provided that a fresh surety from
another employee would be submitted before the retirement of that employee
who has furnished the surety bond. Alternatively, a loanee may furnish a surety
bond from a permanent official of the Central Govt./ Nationalized Bank to the
satisfaction of the Institute.

34
(h) The grant of advance is subject to other conditions/procedure as may be
specified by the Institute from time to time.

36. Medical Advance

For medical expenses incurred in excess of the reimbursable amount due in

any year, advance may be given upto 75% of such excess expenditure
reimbursable during the block of 3 years, at the discretion of the Secretary.
The advance shall be adjusted against the amount due to the employee in
successive year(s).

37. Salary Advance

For grave and necessitous circumstances, the Secretary may grant advance
of a month’s salary after 10th of any month to a permanent employee, which
will be adjusted in full at the subsequent payment of salary.

38. Special Loan

71
[The Special Loan Scheme effective from 01st January, 2010 is as
under :

I . Purpose for which the loan may be granted

(a) To meet expenses on major/prolonged illness of the employee or his/her

family members or due to any tragedy in the family of the employee and
for which loan could not be drawn from any other source;

(b) To meet expenses on providing recognized higher education to the child

of an employee;

(c) To meet expenses on acquiring a house for self-dwelling or on additions,

alterations and improvements and furnishing of the house considered
necessary which is self-occupied by the employee provided no amount on
account of house building loan is outstanding for repayment in the name
of the employee;

(d) To meet expenses on the damage caused to the movable or immovable

property as a direct result of fire, flood, cyclone or other convulsion of the
nature and also to meet the loss caused by theft / burglary /dacoity etc;

(e) Any other purpose arising out of any grave and necessitous
circumstances subject to the satisfaction of the Secretary of the Institute
and for which loan from any other source could not be drawn.

71
Revised vide Office Order No. 121/09 dated 16.12.09 in supersession to Office Order Nos. 14/05,
124/97 & 104/94.

35
II. Definition of the term “family”

The term “family” will have the same meaning as defined in the Service Rules
of the Institute.

III. Eligibility

(a) Any employee who has put in atleast three years of regular service will be
eligible for grant of special loan;

(b) The loan for the purpose referred to in I (a) above, will be granted only
when the expenses could not be met fully either under the ICSI Employees
Medical Hospitalization Trust Rules or under annual medical reimbursement
scheme.

(c) Quantum of Loan

(i) Employees in the pay band of Rs. 9300-34800 (PB-2) with Grade Pay
of Rs.4200 & below (i.e upto and including the level of Senior
Assistant & its equivalent):

- Rs. 50,000 or three months gross salary (excluding conveyance,

washing and special allowance), whichever is less;

(ii) Officers in the pay band of Rs.9300-34800 (PB-2) with grade pay of
Rs.4800 & upto the pay band of Rs.15600-39100 (PB-3) with grade
pay of Rs.7600 (i.e. from the level of 72[Section Officers / Assistant
Education Officers to the level of Joint Director & its equivalent) :

- Rs.75,000 or three months gross salary, whichever is less;

(iii) Officers in the Pay band of Rs.37400-67000 (PB-4) with grade pay of
Rs.8700 & above (i.e. Director] & above) :

- Rs.1,00,000 or three months gross salary, whichever is less.

(d) The employee would not be eligible for such loan for a period of one year
from the date of repayment of last installment of the special loan granted to
him/her earlier.

IV. Repayment of Loan

(a) The principal amount of the loan is to be repaid in not more than 36 equal
monthly installments. Simple interest @ 10% per annum will be charged
and such interest will be calculated on the balance outstanding on the
last day of each month. The interest so calculated will be recovered in the
minimum number of monthly installments; the amount of each such
72
Substituted for the word ‘Desk Officer / Desk Officer(S)’, ‘Deputy Director’ and ‘Joint Director’ vide
Office Order No. 45/2014 dated 01.04.2014

36
 installment being not less than the amount of installment of loan and
recovery will commence from the month immediately following the month
in which the repayment of the loan is completed.

(b) In the event of the employee leaving the services of the Institute due to
any reason before the full repayment of loan alongwith the interest
thereon, the outstanding loan alongwith the interest will be adjusted
against the gratuity admissible to him/her under the Service Rules of the
Institute, in case he fails to refund the balance amount due to the
Institute. An undertaking for the said adjustment has to be given in
writing by the employee before drawing the loan.

V. Approval
The special loan wherever applicable in deserving cases may be sanctioned
and released by the 73[Joint Secretary] (F&A). In case of any relaxation
required in deserving cases, the same may be sanctioned by the Secretary
on the recommendation of the HOD.]
74
[House-Building Advance

The House Building Loan Scheme effective from 01st January, 2010 is
as under :

1. Eligibility

All permanent employees who have completed not less than five years
regular service in the Institute are eligible to apply for the grant of the house
building loan.

2. Purposes
The loan is admissible for the following purposes:

(i) Constructing a new house on a plot of land owned and possessed by the
employee in his/her name or jointly with his/her spouse.

(ii) Purchasing a plot of land and constructing a house thereon.

(iii) Purchasing a plot under Cooperative scheme and constructing a house / flat
thereon through membership of Cooperative Group Housing Society.

(iv) Outright purchase of a ready-built house / flat from Housing Board,

Development authorities and other statutory or Semi-Government Bodies,
Group Housing Societies and also from private parties/agencies or through
General Power of Attorney.

73
Substituted for the word “Director” vide Office Order No. 45/2014 dated 01.04.2014
74
Revised vide Office Order No. 122/09 dated 16.12.2009 in supersession to Office Order Nos. 4/98,
126/97, 110/97, 67/97, 10/96, 71/93 & 33/92.

37
 (v) In all the above cases, the construction / purchase of the house / flat should
be either at the place of duty of the employee or at the place where the
employee proposes to settle after retirement.

3. Quantum of Loan

(i) The amount of loan will be 80% of the cost of the house including cost of
land /flat or an amount equal to 40 months Basic Pay plus Grade Pay of the
employee whichever is lower, subject to following ceilings :-

Quantum of Loan Amount

Employees in the Pay band of Rs.15600-39100 3,00,000
(PB-3) with Grade Pay of Rs. 5400 & below
Employees in the Pay band of Rs.15600-39100 5,00,000
(PB-3) with Grade Pay of Rs. 6600 & Pay band
upto 37400-67000 (PB-4) with grade pay of Rs.
8700
Employees in the Pay band of Rs.37400-67000 7,50,000
(PB-4) with grade pay of Rs. 10000 & above

(ii) However, in cases where second charge on the property is proposed to be

created in favour of the Institute or purchase of flat/house on General Power
of Attorney, the amount of loan will be restricted to the amount of gratuity
admissible to the employee on the date of sanction of the loan or the
maximum amount as stated above, whichever is less.

(iii) Grant of House Building Loan is also admissible to the employees of the
Institute for enlargement / extension of the existing living accommodation,
subject to the following terms :-

 Amount equivalent to 50 months basic pay or Rs. 75,000 whichever is less.

 The sanctioned amount would be released in two installments i.e. 50% on
the execution of mortgage deed and 50% on construction reaching plinth
level for enlargement of ground floor and / or construction reaching roof
level for enlargement of upper levels.
 The proposed enlargement / extension for which such loan is sought, are
approved by the Municipal Corporation of Delhi or the concerned local
authorities. Such approval will not be required wherever general
permission has been given by these agencies for such enlargement /
extension.

4. Conditions to be fulfilled

(i) The employee or employee's spouse/minor children should not already

own a house or flat either in the Delhi NCR, place of duty (if different from
Delhi NCR) or at the place where the employee or his family ordinarily
resides.

38
 (ii) All relevant title and other documents such as sale-deed regarding
applicant's title to the land, approved building plan, non-encumbrance
certificate, copy of allotment letter of the house/flat issued by the Housing
Board or other allotting authority, are to be deposited with the Institute.

(iii) In the case of construction of house/flat the construction should be

completed within 18 months from the date of receiving the advance and in
the case of ready-built house, the house should be acquired within six
months from the date of drawal of advance. Extension of time may be
granted by the Secretary of the Institute in deserving cases.

(iv) If the total amount of house building loan drawn, the amount of loan
raised from other sources and employee's own contribution exceed the
actual cost of construction or purchase of the house/flat or if the amount
of advance is not utilized for the purpose for which it is granted, the
excess or the whole amount as the case may be is to be refunded to the
Institute in one lumpsum together with interest thereon as may be
decided by the Institute within a period not exceeding three months from
the date of drawl of loan as may be allowed.

5. Mortgage

The House/Flat constructed or purchased out of the loan shall be mortgaged

by creating an equitable mortgage in favour of the Institute and all original
documents of the flat/house shall be deposited with .the Institute which will be
returned to the employee only upon, the repayment of the full loan and interest
accrued thereon.

6. Pari Passu Charge

If an employee intending to draw House Building Loan from other sources also,
he / she is required to create a pari passu charge on the property subject to the
following conditions :

(a) Prior written permission of the Secretary of the Institute is obtained for
creating a pari passu charge.

(b) The pari passu charge is created only in favour of recognized Financial
Institutions for raising the loan required for the purchase/construction of
house/flat or any other Financial Institution as may be considered and
approved by the Institute.

(c) Tripartite Agreement among the parties (a) the Loanee employee (b) the
Institute & (c) the Financial Institution shall be entered as per the format
considered & approved by the Institute.

39
7. Second Charge

An employee may be allowed to create a second charge on the property

subject to the following conditions:-

(i) Prior written permission of the Secretary of the Institute is obtained for
creating the second charge.
(ii) The second charge is created only in favour of recognized financial
institutions for raising the additional loan required for the purchase /
construction of house / flat, or any other financial institution as may be
considered and approved by the Institute.

8. Repayment

The Principal amount with interest is to be repaid in twenty (20) years (180
installments of principal and 60 installments of interest). In case of an
employee whose left over service is less than twenty years , the installments
would be so fixed that the principal and interest are fully recovered at least
six months prior to the normal date of his/her retirement.

9. Interest

The rate of interest will be as decided by the Institute from time to time after
taking into account the rate of interest charged by the Central Government
for its employees in such cases.

10. Surety

In addition to the creation of equitable mortgage/deposit of original title

deeds, the loanee employee shall execute a personal bond and also furnish
a surety bond from a confirmed employee of the Institute who has not availed
of the House Building loan from the Institute and also has not stood surety for
any other employee of the Institute. Further, the surety should be an
employee whose date of retirement from the Institute is subsequent to that of
the loanee. However, a loanee is permitted to submit surety bond signed by
an employee who retires before the loanee provided that a fresh surety from
another employee would be submitted before the retirement of that employee
who has furnished the surety bond. Alternatively, a loanee may furnish a
surety bond from a permanent official of the Central Govt./ Nationalized Bank
to the satisfaction of the Institute.

11. Applicability

(i) The revised interest rates as stated at para 8 above, shall be applicable in
respect of loans sanctioned and disbursed w.e.f. 1st January, 2010.

40
 (ii) In respect of Housing Loans sanctioned and disbursed prior to 1 st
January, 2010, the rate of interest as per the earlier sanction order shall
continue to be applicable.

(iii) The revised quantum of loan as stated in para 3 (i) above, shall be
applicable only in respect of loans sanctioned and disbursed w.e.f. 1st
January, 2010 and where the clear title of the property is in favour of the
employee to the satisfaction of the Institute.

(iv) The House Building Loan shall be admissible once during the entire
service period.

12. Exception

Any relaxation/s in the guidelines under the scheme may be made with the
specific written approval of the President of the Institute by recording
reasons thereof and also reported to Executive Committee at the subsequent
meeting.]
75
[Computer Advance

Grant of advance for purchase of computer w.e.f. 01 st January, 2010 is as

under :

Eligibility

Employees in the grade pay of Rs.1900 & above will be eligible for grant of
Computer advance.

Quantum of loan

(i) Six months gross emoluments ; or

(ii) 90 % of the cost of the computer including cost of printer ; or
(iii) Rs. 50,000/-, whichever is less

Repayment of Loan

The principal amount shall be repayable in not more than 50 equal monthly
installments and interest at the rate of 10% per annum shall be charged on the
loan amount. After recovery of principal amount, interest amount so calculated
will be recovered in the minimum number of monthly installments, the amount
of each such installment not being less than the amount of monthly installment
fixed for the repayment of principal amount.

Other terms & conditions

The loan would be distributed on first come first serve basis subject to the
budgetary provision and funds.]
75
Revised vide Office Order No. 120/09 dated 16.12.2009 in supersession to Office Order nos. 3/2006,
15/2005 & 76/1996 (introduced).

41
 CHAPTER – VIII

GRATUITY, PROVIDENT FUND AND PENSION

39. Gratuity

(1) Gratuity shall be payable for good, efficient and faithful service by a
permanent employee of the Institute who has rendered a continuous
service of not less than five years and on the termination of his
employment due to:
(a) discharge or abolition of post;
(b) permanent incapacity on account of bodily or mental infirmity;
(c) superannuation;
(d) retirement or resignation;
(e) death or disablement due to accident or disease; and
(f) termination on any ground, except on account of dismissal from
service.
PROVIDED THAT the completion of the continuous service of five
years shall not be necessary where the termination of the employment
is due to death or disablement.

(2) Continuous service will mean uninterrupted service but will include
service which is interrupted by sickness, accident leave, layoff, strike,
lockout, or cessation f work not due to any fault of the employee
concerned (but will not include service rendered as casual, temporary
or leave without pay not on medical grounds). It will also include the
period of probation.

(3) Gratuity shall not be payable to the following :

(a) Casual, temporary and probationary employees;
(b) Government servants ad others employed on deputation terms;
(c) Employees on contract basis; and
(d) Re-employed persons.
(4) The amount of gratuity payable to an employee shall be equal to 15
days salary for each completed year of service (or part thereof in
excess of six months service) subject to a maximum of 20 months
salary last drawn or 76[Rs. 10 lacs, whichever is lower. The word
“salary” for the purposes of this para would mean the Basic Pay plus
Grade Pay and Dearness Allowance and shall not include nay other
payment including other] allowances, perquisites ex-gratia payment,
76
Revised vide office order no. 52/10 dated 29.06.2010 in substitution to Rs. 7.50 lacs vide office order
no.109/11 dated 24.10.11.

42
 bonus or commission. In the case of death, the amount of gratuity
shall be in accordance with the above provision or as per the following
slab, whichever is higher:

During the first year of service : 2 months salary

After one year but before five years : 6 months salary
After completion of five years : 12 months salary

(5) Every employee shall make a nomination in the prescribed form

nominating one or more persons of his family the right to receive the
gratuity in the event of the employee’s death while in service or on his
quitting the service but before the payment of gratuity is made,
indicating the share payable to each member of his family. In the
case of an employee having no family member, the nomination may
be made in favour of person(s), or a body of persons, corporate or
incorporate.
(6) In the absence of nomination, the gratuity on death shall be paid to the
legal heirs of the deceased employee.
77
[The existing ICSI Group Gratuity Trust Rules are given in Schedule ‘E-2’
]

40. Provident Fund

78
[All the Employees of the Institute joined on or before 31.12.2004 are
governed by ICSI Employees Provident Fund Trust Rules as given in
Schedule ‘E-3’ & as amended by the Council from time to time.]

41. Pension
79
[(a) All the Employees of the Institute joined on or before 31.12.2004 are
governed by “ICSI Employees’ Pension Fund Trust Rules” as given in
Schedule ‘E-4’.]
80
[(b) Further, all the regular employees joined the Institute on or after
1.1.2005 shall be governed under the “ICSI Employees’ New Pension Fund
Trust Rules” as given in Schedule ‘E-5’.]

77
Substituted by the ICSI Employees’ Group Gratuity Trust Rules (as amended upto 30.09.11).
78
Substituted by the ICSI Employees’ Provident Fund Rules (as amended upto 30.09.11).
79
Substituted by the ICSI Employees’ Pension Fund Trust Rules (as amended upto 01.04.10).
80
Introduced vide Office Order No. 13/05 dated 16.3.05.

43
 CHAPTER – IX

CONDUCT
42. General

(1)Every employee shall at all times

(a) maintain absolute integrity;

(b) maintain devotion to duty;
(c) do his best to achieve the objectives set by the Institute; and
(d) do nothing unbecoming of an employee.

(2) Every employee shall take all possible steps to ensure the integrity and
devotion to duty of all employees for the time being under his control and
authority.
81
[(a) Sexual Harassment]

No employee of the Institute shall indulge in any act of sexual harassment of

the women.

For the purpose, “sexual harassment” includes such unwelcome sexually

determined behaviour (whether directly or by implication) as :-

a) Physical contact and advances;

b) Demand or request for sexual favours;
c) Sexually coloured remarks;
d) Showing any pornography;
e) Any other unwelcome physical, verbal or non-verbal conduct of a sexual
nature.

43. Misconduct

Without prejudice to the generality of the term “misconduct”, it includes all

acts of omissions and commissions as given in Schedule ‘F’ to these rules
and as amended by the Council from time to time.

44. Disclosure of employee’s interest in any matter

No employee shall in the discharge of his official duties deal with any matter
or give or sanction any contract to any undertaking or to any other person if
any member of his family or near relative is employed in that undertaking or
with that person, without referring every such matter or contract to his official
superior and the matter or the contract shall thereafter be disposed of
according to the instructions of the authority to whom the reference is made.

81
Inserted new clause vide Office Order no. 24/04 dated 1.5.04

44
45. Taking part in demonstration, strikes, gherao and association

(1) No employee shall :

(a) Engage himself or participate in any demonstration or do such things

which involve incitement to offence, contempt of court or considered
prejudicial by the Disciplinary Authority, in his sole discretion, to the
interest of the Institute, public order, decency or morality;

(b) Resort to or in any way abet any form of unlawful strike, gherao,
coercion or duress in connection with any matter pertaining to his service
or the service of any other employee of the Institute.

(2) No employee shall join or continue to be a member of an Association

the object or activities of which are considered by the Disciplinary
Authority in his sole discretion, prejudicial or likely to become prejudicial
to the interest of the Institute, public order, decency or morality.

46. Connection with Press or Radio

(1) No employee shall, except with the previous sanction in writing of the
competent authority, own wholly or in part, conduct or participate in the
editing or management of any newspaper or other periodical publication.

(2) No employee shall, except with the previous sanction in writing of the
competent authority or except in the bonafide discharge of his assigned
duties, participate in a radio broadcast or contribute any article or write
any letter whether in his own name or anonymously, pseudonymous or in
the name of any other person to any newspaper or periodical.

PROVIDED THAT no such sanction shall be required if such broadcast or

such contribution is of a purely professional, literary, artistic or scientific
character having no bearing whatsoever on any of the activities of the
Institute.

47. Criticism of Government and the Institute

No employee shall, in any radio broadcast or in any document published

anonymously, pseudonymously or under his name or in the name of any other
person or in any communication to the press, or in any utterance, make any
statement or opinion :

(a) Which has the effect of an adverse criticism of any policy or action of the
Central or State Governments, or of the Institute, or

(b) Which is capable of embarrassing the relations between the Institute and
the Government or the general public.

PROVIDED THAT nothing in this rule shall apply to any statement made or
views expressed by an employee of purely factual nature which are not

45
 considered to be of a confidential nature, in his official capacity or in due
performance of the duties assigned to him.

48. Evidence before Committee or any other Authority

(1) No official shall, except with the previous sanction in writing of the
Appointment Authority, give evidence in connection with any enquiry
conducted by any person, committee or authority.

(2) Where any sanction has been accorded no employee giving such evidence
shall criticise the policy or any action of the Central or State Government or
of the Institute.

(3) Nothing in this rule shall apply to:

(a) evidence given at any enquiry before an authority appointed by the

Government, Parliament, or a State Legislature or the Institute;
(b) evidence given in any judicial enquiry or any court proceedings; or
(c) evidence given at any departmental enquiry ordered by the Institute.

49. Unauthorised Communication of Information

Every employee shall sign an Oath of Secrecy on joining the Institute and no
employee shall, except in accordance with any general or special order of the
Institute or in the performance in good faith of the duties assigned to him
communicate, directly or indirectly, any official document or any part thereof
or information to any other employee, or person to whom he is not authorized
to communicate such document or information.

50. Subscriptions

No employee shall except with the previous sanction in writing of the

Appointing Authority ask for or accept contribution to or otherwise associate
himself with the raising of any funds or other collections in cash or in kind in
pursuance of any object whatsoever in the premises of the Institute.

51. Acceptance of gifts and favour

(1) Save as otherwise provided in these rules, no employee shall accept or

permit any member of his family or any person acting on his behalf, to
accept any gift the value of which exceeds Rs. 250 without the previous
sanction of the Appointing Authority.

PROVIDED THAT when more than one gift has been received from the
same person/firm within a period of 12 months, the matter shall be reported
to the Appointing Authority if the aggregate of the gift exceeds Rs. 500/-.

Explanation: The expression `gift’ shall include free transport; board, lodging

46
 or other service or any other pecuniary advantage when provided without the
specific knowledge of the Institute by any person other than a near relative or
a personal friend having no official dealings with the Institute. A casual meal,
lift or other hospitality shall not be deemed to be a gift.

(2) An employee may accept gifts from his near relatives or personal friends
having no official dealings with him but he shall make a report to the
Appointing Authority if the value of the gift exceeds Rs. 500/-.

(3) No employee will have any personal dealing with any person or
undertaking with which the Institute has any official dealing. No employee
will ask for or solicit any personal favour from such undertaking or person
or induce or recommend any of his relation or friend either for appointment
or for any information with such person or undertaking. If any of his son,
daughter or near relation is appointed by any such person or undertaking
or has any dealing with the said person or undertaking then the employee
will disclose the same immediately when it comes to his knowledge.

52. Private Trade or Employment

(1) No employee shall except with the previous sanction in writing of the
Appointing Authority, engage himself directly or indirectly in any trade or
business or undertaking any assignment having pecuniary benefit.

PROVIDED THAT an official may, without such sanction, undertake

occasionally honorary work of a social, religious or charitable nature, literacy,
artistic or scientific character, subject to the condition that he has not used
the material acquired by him in his official discharge of duties and his official
duties do not thereby suffer.

(2) No employee shall, without the previous sanction in writing of the

Appointing Authority except in the discharge of his official duties, take
part in the registration, promotion or management of any business which
is required to be registered under any law for the time being in force.

PROVIDED THAT an official of the Institute may take part in the registration,
promotion or management of a co-operative society substantially for the
benefit of employees of the Institute, registered under the Co-operative
Societies Act, 1912 (2 of 1912) or any other law for the time being in force, or
of a literary, scientific, religious or charitable society registered under the
Societies Registration Act, 1860 (21 of 1860), or any corresponding law in
force after intimating such fact to the appointing authority.

53. Investment, Lending and Borrowing

No employee shall save in the ordinary course of business with a bank, the
Life Insurance Corporation or a firm of standing, borrow money from or lend
money to or otherwise place himself under pecuniary obligation to any
person with whom he has or is likely to have official dealings or permit any

47
 such borrowings, lending or pecuniary obligation in his name or for his
benefit or for the benefit of any member of his family.

54. Insolvency and Habitual Indebtedness

(1) An employee shall so manage his private affairs as to avoid habitual

indebtedness or insolvency unless he proves that such indebtedness
or insolvency is the result of circumstances beyond his control.
(2) An employee against whom any legal proceeding is instituted for the
recovery of any debt due from him or who applies to be, or is
adjudged or declared insolvent shall forthwith report the full facts of
the proceedings to the appointing authority.

55. Bigamous Marriage

(1) No employee shall enter into or contract a marriage with a person

having a spouse living; and no employee having a spouse living, shall
enter into, or contract, a marriage with any person.
(2)
(3) PROVIDED THAT the Council may permit an employee to enter into
or contact any such marriage if it is satisfied that :-

(a) such marriage is permissible under the personal law applicable

to such employee and the other party to the marriage; or
(b) there are other grounds for so doing which are not contrary to
any law.

56. Consumption of Intoxicating Drinks and/or Drugs

An employee shall:

(a) strictly abide by any law relating to intoxicating drinks and/or drugs in
force in any area in which he may happen to be for the time being;

(b) not administer or cause to be administered or be under the influence

of any intoxicating drinks or drugs while on duty whether within or
outside the premises of the Institute;

(c) not administer or cause to be administered or be under the influence

of any intoxicating drinks or drugs while within the premises of the
Institute;

(d) not attend, or allow to be served in any official function/party arranged

for the employees and their families by the Institute whether within the
premises of the Institute or outside, any intoxicating drinks or drugs.

48
57. Canvassing for election

An employee shall be liable to disciplinary action by the Council, if in

connection with election to the Central Council, Regional Council or Chapters
of the Institute, he is found to have taken part, directly or indirectly, either
himself or through any other person, in any of the following activities:

(a) issuing manifestoes letters or circulars;

(b) canvassing support for any candidate.

49
 CHAPTER - X

DISCIPLINE AND APPEAL

58. General

Notwithstanding anything contained in any other Regulations, and without

prejudice to such action to which an employee may become liable under any
other regulations or law for the time being in force, any or all of the following
penalties may be imposed for good and sufficient reasons on any employee
of the Institute.

59. Minor Penalties

(a) Censure or fine.

(b) Withholding of increment with or without cumulative effect.
(c) Withholding of promotion.
(d) Recovery from pay or from such other amount as may be due to the
employee of the whole or part of the pecuniary loss caused to the Institute
by negligence or breach of duty.

60. Major Penalties

(a) Reduction to a lower post or grade or to a lower stage in existing time

scale
(b) Removal from service which shall not be a disqualification for future
employment in the Institute
(c) Dismissal
(d) Compulsory retirement
(e) Suspension from service imposed as a penalty
(f) Any other penalty considered appropriate by the Disciplinary Authority or
an Authority higher than it

Explanation: The following shall not amount to a penalty within the meaning of
this Rule:

(a) Withholding of an increment of an employee, on account of his work

being found unsatisfactory or not being of the required standard or for
failure to pass the prescribed test or examination.
(b) Stoppage of an employee at the efficiency bar in a time scale, on the
ground of his being unsuitable to cross the bar.
(c) Non-appointment, whether in an officiating capacity or otherwise, of an
employee to a higher post for which he may be eligible for consideration
but for which he is found unsuitable after consideration of his case or an
administrative grounds unconnected with misconduct.
(d) Reversion to a lower post or grade of an employee officiating in a higher
post or grade on the ground that he is considered after trial, to be
unsuitable for such higher post or grade or an administrative grounds
unconnected with his conduct.
(e) Reversion to the previous grade or post of an employee appointed on

50
 probation to another grade or post, during or at the end of the period of
probation, in accordance with the terms of his appointment.
(f) Non-grant of any additional increment or incentive from time to time.
(g) Termination of Service :

(i) of an employee appointed on probation during or at the end of

the period of probation in accordance with the terms of his
appointment;

(ii) of an employee appointed in a temporary capacity otherwise

than on contract or agreement, on the expiration of the period for
which he was appointed, or earlier in accordance with the terms of
the appointment;

(iii) of an employee on reduction of establishment

(h) Compulsory retirement of an employee in accordance with the provision

relating to superannuation or retirement
(i) Discharge of an employee for failure to pass a medical test prescribed for
appointment to any category of post

61. Authority competent to impose penalty

The Secretary of the Institute under the existing regulations or Appointing

authority or any other authority designated by the Council who may be
superior to the appointing authority, may impose on an employee any of the
penalties specified herein.

62. Procedure for imposing penalties

No penalty shall be imposed on any employee unless the charge or charges

on which it is proposed to take disciplinary action against an employee has
been communicated to him in writing and he has been given a reasonable
opportunity of showing cause against the action proposed to be taken
against him. The competent authority may, if circumstances so warrant hold
an enquiry into the charges or cause such an enquiry to be held by any
officer subordinate to him but superior to the person 82 [or an outside inquiry
officer, whenever so required, having expertise in holding such
Domestic/Disciplinary enquiry] against whom action is proposed to be taken
for the purpose of ascertaining the truth or otherwise of the charges. If it is
decided to hold an enquiry, an employee shall be permitted to cite witnesses
on his behalf and examine the relevant documents but, shall not be permitted
to engage a lawyer at the enquiry.

82
Inserted words vide Office Order No. 6/05 dated 10.2.2005

51
63. Appeal to President

(1) Every appeal received against the penalty imposed under these rules
(Discipline & Appeal) within a period of one month from the date on which
the appellant receives a copy of the order imposing the penalty shall be
submitted to the President.

Provided that the President may entertain the appeal after the expiry of
the said period if he is satisfied that the appellant had sufficient cause for
not submitting the appeal in time.

(2) Every appeal shall be submitted through the authority which passed the
order appealed against and such authority shall transmit the appeal to the
President as early as possible.

(3) The President may in consultation with the Council :

(a) set aside, reduce, confirm or enhance the penalty;

(b) remit the case to the authority which imposed penalty or to any other
authority with such directions as he may deem fit in the circumstances of
the case;

Provided that the President shall not pass any order imposing an
enhanced penalty unless the appellant is given a reasonable opportunity
of making any representation which he may wish to make against
imposition of such enhanced penalty.

(4) The decision of the President shall be final.

64. Suspension

(1) The appointing authority or any authority to which the appointing authority
is subordinate or the Disciplinary Authority or any other authority
empowered in that behalf by the President by general or special order may
place an employee under suspension:

(a) Where a disciplinary proceeding against him is contemplated or is

pending; or

(b) Where a case against him in respect of any criminal offence (except in
the due performance of official duties) is under investigation or trial.

(2) Where a penalty of dismissal or removal or compulsory retirement from

service imposed upon an employee under suspension is set aside on
appeal or on review under these rules and the case is remitted back for
further inquiry or action or with any other directions, the order of his
suspension shall be deemed to have continued in force on and from the
date of the original order of dismissal or removal or compulsory retirement

52
 and shall remain in force until further orders.

(3) Where a penalty of dismissal or removal or compulsory retirement from

service imposed upon an employee is set aside or declared or rendered
void in consequence of or by a decision of a court of law and the
disciplinary authority, on consideration of the circumstances of the case,
decides to hold a further inquiry against him on the allegations on which
the penalty or dismissal or removal or compulsory retirement was originally
imposed, the official shall be deemed to have been placed under
suspension from the date of the original order of dismissal or removal or
compulsory retirement and shall continue to remain under suspension until
further orders.

(4) An order of suspension made or deemed to have been made under those
rules may at any time be revoked by the authority which made or is
deemed to have made the order or by any authority to which that authority
is subordinate.

(5) An order of suspension made or deemed to have been made shall

continue to remain in force until it is modified or revoked.

65. Subsistence Allowance

(1) An employee under suspension shall be entitled to draw subsistence

allowance equal to 50 per cent of basic pay provided the disciplinary
authority is satisfied that the employee is not engaged in any other
employment or business or profession or vocation. In addition he
shall be entitled to Dearness Allowance admissible on such
subsistence allowance and 83 [Deleted], House Rent Allowance etc.,
of which he was in receipt on the date of suspension provide the
suspending authority (Secretary) is satisfied that the employee
continues to meet the expenditure for which the allowance was
granted.

(2) Where the period of suspension exceeds six months, the authority
which made or is deemed to have made the order of suspension shall
be competent to vary the amount of subsistence allowance for any
period subsequent to the period of the first six months as follows:

(a) the amount of subsistence allowance may be increased to 75 per

cent of basic pay and allowances thereon if in the opinion of the
said authority, the period of suspension has been prolonged for
reasons to be recorded in writing not directly attributable to the
employee under suspension;
(b) if the period of suspension is prolonged because departmental
enquiry against him is incomplete due to reasons attributable to the
employee then the subsistence allowances will be reduced to 25%.

83
Deleted the words “any other compensatory allowance such as City Compensatory Allowance” in view of Office
Order No. 17/2009 dated 27.02.09.

53
66. Treatment of the period of suspension

(1) When the employee under suspension is reinstated, the competent

authority shall grant to him the following pay and allowances for the
period of suspension:

(a) if the employee is exonerated and is not awarded any of the penalties
mentioned in these rules, the full pay and allowance less the subsistence
allowance already paid to him; and

(b) if otherwise, such proportion of pay and allowances as the appointing

authority may prescribe.

(2) In the case of exoneration of an employee under rule 66(1)(a) the period
of absence from duty on account of suspension will be treated as period
spent on duty. In a case falling under 66(1)(b), it will not be treated as a
period spent on duty unless the appointing authority so specifically
directs.

(3) An appeal against any order or suspension shall lie to a higher authority
next to the one issuing the order of suspension.

67. Provisions regarding officers borrowed from Central or State

Governments, Public Sector Undertakings and other sources

(1) Where an order of suspension is made or disciplinary proceedings are

taken against a Government Servant or an employee of a Public Sector
Undertaking whose services have been borrowed from that Government or
an authority subordinate thereto, or from such undertaking, the authority
lending his services (hereinafter in this regulation referred to as the
“lending authority”) shall forthwith be informed of the circumstances
leading to the order of his suspension, or the commencement of
disciplinary proceedings, as the case may be.
(2) In the light of the findings in the disciplinary proceedings taken against the
borrowed employee of the Government/Public Sector Undertaking :

if the disciplinary authority is of the opinion that any of the penalties

specified in these rules should be imposed on him he may, after
consultation with the lending authority pass such orders as it deems
necessary.

Provided that in the event of a difference of opinion between the borrowing

authority and the lending authority of the Government servant or employee of
the Public Sector, the employee shall immediately be replaced at the
disposal of the lending authority.

54
68. Application(s) for jobs outside the Institute should invariably be routed
through the Institute. The Institute will forward such application(s) at its
discretion, not more than one in case of persons who have not completed at
least three years in the existing grade. In case of persons who have
completed three years and above, not more than two applications may be
forwarded per calendar year at the discretion of the Institute.
*******

55
 SCHEDULE ‘A’

56
57
 Fixation of pay in the revised pay structure of employees appointed as
fresh recruits on or after 01.01.2006
(See Rule 8(1) of Service Rules)

Fixation of pay in the revised pay structure of employees appointed as

fresh recruits on or after 1.1.2006, which indicates the entry level pay in
the pay band at which the pay of direct recruits to a particular post
carrying a specific grade pay will be fixed on or after 01.01.2006 as per
given table :

Pay Band (PB-1) - Rs. 5200-20200 (Amt. in Rs.)

Grade Pay Pay in the Total

Pay Band
1,900 5,830 7,730
2,400 7,510 9,910

Pay Band (PB-2) - Rs. 9300-34800

Grade Pay Pay in the Total

Pay Band
4,200 9,300 13,500
4,800 13,350 18,150

Pay Band (PB-3) - Rs. 15600-39100

Grade Pay Pay in the Total

Pay Band
5,400 15,600 21,000
6,600 18,750 25,350
7,600 21,900 29,500

Pay Band (PB-4) - Rs. 37400-67000

Grade Pay Pay in the Total

Pay Band
8,700 37,400 46,100
10,000 43,000 53,000

58
 SCHEDULE `B’

RECRUITMENT PROCEDURE
(See Rule 12 of Service Rules)

The Council shall have full discretion to recruit employees for any post in any
manner as it deems fit. The Council hereby lays down the following
recruitment procedure to be observed for appointment to all posts of the
Institute until further announcement is made in this behalf by the Council. Any
deviation from this procedure should have the specific approval of the
President for posts upto and including the level of 84[Deputy Directors and the
Executive Committee for posts above the level of Deputy Directors.]

1. Methods of Recruitment

A post may be filled up by any of the following methods of recruitment :

(a) By promotion of internal candidates;

(b) By transfer of internal candidates;
(c) By direct recruitment;
(d) By borrowing on deputation from Government and other sources;
85
(e) [By availing the services of the Placement Agency(ies)/Jobsite(s)].

2. Recruitment for Officers’ Posts

(a) For direct recruitment of posts of officers of the level of 86[Assistant Director]
and above the vacancy will be advertised in Chartered Secretary and/or in
one or more English newspapers largely circulated in the local area of
appointment, apart from considering other avenues for receiving applications.
Candidates fulfilling the requisite qualifications and experience after
preliminary screening as may be decided by the Secretary/President shall be
called for interview. Ordinarily the number of persons called for interview
shall be five times the number of vacancies.

(b) The Executive Committee or a Selection Board constituted under the rules,
shall interview and draw a panel of candidates for appointment in order of
merit and forward the same to the appointing authority for necessary action.
The Executive Committee/Selection Board may relax the age, educational
qualifications and/or experience, if any candidate is otherwise considered to
be most suitable for the post.

(c) The appointing authority shall make appointments in accordance with the
recommendations of the Executive Committee/Selection Board. Such
recommendations would have to be approved by the President in case the
Selection Board consisted of members other than the President for posts
above the level of 87[Deputy Director.]

84
Substituted for the word “Assistant Director” vide Office Order No. 45/2014 dated 01.04.2014
85
Inserted vide Office Order No. 56/06 dated 1.8.06.
86
Substituted for the word “Administrative Officer” vide Office Order No. 45/2014 dated 01.04.2014
87
Substituted for the word “Assistant Director” vide Office Order No. 45/2014 dated 01.04.2014

59
(d) The panel will be valid for a period of one year from the date drawn unless
shorter or longer duration is specified by the Selection Board, the Secretary
or as the case may be.

3. Recruitment for other Posts

For other supervisory and all non-supervisory posts, the appointing authority
may either arrange for the issue of an advertisement in a newspaper or invite
applications from Employment Exchanges, professional organizations and
institutions which provide such services and also entertain unsolicited
applications received and registered in the Institute from time to time. The
course of action in this regard will depend on the number of vacancies and the
time available to fill up the vacancies. Suitable candidates shall be called for
interview after preliminary screening and shall ordinarily be four times the
number of vacancies. Candidates registered with Employment Exchange will
normally be given preference for the posts upto and including the level of
Senior Assistants. The final selection shall be made by the appropriate
Selection Board on the basis of personal interview and written tests, if any,
arranged by the appointing authority as the exigencies may demand. The
panel will be valid for a period of one year or any longer or shorter period as
specified by the Selection Board or appointing authority. The President may
relax age, educational qualifications and/or experience if any candidate is
otherwise considered to be most suitable for the post.

4. All local candidates shall normally be required to appear for interview(s) at

their own expense. Outstation candidates may be given single return rail fare
not exceeding first class fare as the appointing authority may determine for
such interview attended by a candidate.

5. Every selected candidate shall be required before appointment to submit

themselves to medical examination by a qualified registered medical
practitioner, approved by the Institute.
88
[Regular employees of the Institute are eligible to apply for appointment to
the higher posts advertised by the Institute from time to time provided the said
employees have completed three years of regular service as on the date of
advertisement in the next below grade in the Institute. Application of such
employees will be considered subject to their having atleast 2 “Good” & above
in the annual reports out of last 3 years reports].

6. Selection Boards

For officers posts of the level of 89[Joint Directors] and above the selection will
be made by the Executive Committee or a Selection Board constituted to it
including the following:

88
Inserted new para as per internal note no. 515:5:Estt. dated 11.7.95
89
Substituted for the word “Deputy Director” vide Office Order No. 45/2014 dated 01.04.2014

60
 90
[Selection Board for Direct Recruitment & Departmental Promotion
Committee (DPC) & Increments

(a) For officers posts of the level of 91[Joint Directors] and above, the
Selection for Direct Recruitment and Departmental Promotion will be made
by the Executive Committee or Selection Board / Departmental Promotion
Committee constituted by the Executive Committee comprising of the
following :-

1. President
2. Vice-President
3. A Council member nominated by the Executive
Committee
4. Secretary / 92[Additional Secretary & Chief Executive
5. An Outside Expert to be decided by the President

(b) For other officers, supervisory and non-supervisory posts, the Selection
for Direct Recruitment and Departmental Promotion will be made by the
Executive Committee or Selection Board / Departmental Promotion
Committee constituted by the Executive Committee comprising of the
following:-

For Direct Recruitment:

1. President / Vice-President / A Council member nominated by
the Executive Committee
2. Secretary / Additional Secretary & Chief Executive
3. Departmental Head or an Officer not below the rank of Joint
Director
4. An Outside Expert to be decided by the President

For Departmental Promotion & Increments:

1. President / Vice-President / A Council Member nominated by

the Executive Committee
2. Secretary / Additional Secretary & Chief Executive
3. An Outside Expert to be decided by the President and
Secretary / Additional Secretary & Chief Executive]

90
Substituted vide office order no. 56/2012 dated 09.05.12. ( For officers posts of the level of Deputy
Directors and above the selection will be made by the Executive Committee or a Selection Board
constituted to it including the following:
(a) President/Vice-President
(b) A Member of the Council nominated by the Executive Committee
(c) Secretary
(d) Any outside expert, if so desired by the Council/Executive Committee/President
For other officers, supervisory and non-supervisory posts, the Selection Board will consist of not less than
three persons constituted by the Secretary with the approval of the President out of the following:
(a) President/Vice-President/Council Member/Secretary
(b) Departmental Head or an officer not below the rank of Deputy Director
(c) Any outside expert in the relevant field or personnel specialist from Government or any member
(serving or retired) on the panel of the Union Public Service Commission.
91
Substituted for the word “Deputy Director” vide Office Order No. 45/2014 dated 01.04.2014
92
Substituted for the word ‘Chief Executive’ and ‘Deputy Director’ vide Schedule –A of Rule 8(1) of ICSI
nd
Service (2 Amendment) Rules, 2014 dated 01.04.2014

61
 SCHEDULE `C’

PROMOTION POLICY
(See Rule 14 of Service Rules)

1. Criteria for promotion

Whereas the Council has the inherent right and absolute discretion to fill up
any post in any manner in the best interest of the Institute as it deems fit, in
order to provide job satisfaction and growth opportunity lays down the following
Promotion Policy in pursuance of Rule 14 of the Institute’s Service Rules.

(i) As far as possible, first opportunity will be given to employees eligible for
internal promotions subject to availability of suitable employees having
prescribed qualifications and experience for each post. In exceptional cases,
the Executive Committee may relax the educational qualifications,
experience and other requirements for any particular post.

(ii) The basic principles of promotion will be merit-cum-seniority. The merit will
be ascertained by a Selection Board or Departmental Promotion Committee
based on the assessment reports maintained for each employee and the
general conduct and behaviour of the employee.

(iii) Subject to office exigencies employees may be allowed to attend part-time

courses which are of use for the promotional opportunities within the
Institute after office hours with the prior written approval of the Institute, but
such permission may similarly be withdrawn if office exigencies so demand.

(iv) Only an employee who has put in at least five years of service in his existing
grade or post will normally be eligible for consideration for promotion to the
next higher level, grade or post. The criteria of five years service could be
relaxed by the Executive Committee in highly meritorious and deserving
cases. However, this does not give a right to the employee to claim
promotion after the expiry of such period.

(v) While promoting, the Selection Board, Departmental Promotion

Committee/Secretary will ensure that the employee is not losing monetarily
as a result of promotion to the next post/grade.

2. Reservation for Internal Promotions

The general policy of the Council is to encourage involvement of all employees

to work for the further growth of the Institute. Accordingly the Council will
always consider eligible employees for further promotion before considering
direct recruitment for any post. The promotion to the following posts are
specifically reserved for internal candidates and direct recruitment will be
resorted to for such posts only when the Executive Committee decides that no
internal candidate is suitable for the post although the employee might fulfill the

62
qualifications and experience for the post.

(a) 100% of posts for promotion as Senior Attenders.

(b) 90% of posts for Assistants.
(c) 66-2/3% of posts for Senior Assistants, Assistant Education Officers
and Section Officers.
(d) 50% of posts for 93[Assistant Director].
(e) 50% of posts for 94[Deputy Directors and Joint Director].

3. If internal candidates are not found suitable for promotion even though they
might possess the requisite qualifications and experience, the appointing
authority with the approval of an authority superior to him (viz.
President/Executive Committee/Council) will be free to recruit from outside the
Institute, persons with requisite qualifications and experience.

93
Substituted for the word ‘Administrative Officer’ and ‘Education Officer’ vide Office Order No. 45/2014
dated 01.04.2014
94
Substituted for the word ‘Assistant Director’ and ‘Deputy Director’ vide Office Order No. 45/2014 dated
01.04.2014

63
 SCHEDULE ‘D’

QUALIFICATIONS AND EXPERIENCE PRESCRIBED FOR EACH POST

IN THE INSTITUTE
(See Rule 15 of Service Rules)

The following qualifications and experience have been prescribed for each
post. The appointing authority, with the approval of President in the case of
posts upto and including the level of 95[Deputy Director and with the approval
of the Executive Committee in the case of other officers posts, may relax the
qualifications age or experience, if a candidate is otherwise considered most
suitable for the post. Normally the maximum age limits for posts upto and
including the posts of Assistant Director] will be 35 years and for other higher
posts 45 years.

[ADMINISTRATIVE GRADE / POSTS]96

SCategory/ Essential Essential Experience

.Grade/ Post Qualification
N For Internal For External For Internal For External
o Candidates Candidates Candidates Candidates
.
1. Jr. Attender / Nil Literate For Recruitment: 3 yrs of 2 years in similar
Sweeper regular service in the capacity.
next below grade as on
the date of advertisement
with at least 2 “Good”
and above ratings in the
ACR out of the last 3 yrs.
The applications of
candidates should be
forwarded by their
respective HODs.
th
2. Attender / 8 Standard Matriculate -do- Candidates with
Library experience preferred.
Attender
th
3. Sr. Attender 8 Standard Matriculate -do- 2 years experience in
similar capacity.
th
4. Machine 8 Standard Matriculate For Recruitment: 3 yrs of 2 years experience in
Operator regular service in the next similar capacity
below grade as on the
date of advertisement
with at least 2 “Good” and
above ratings in the ACR
out of the last 3 yrs. The
applications of candidates
should be forwarded by
their respective HODs.

Substituted for the word ‘Assistant Director’, ‘ Administrative Officer’ and ‘Education Officer’ vide Office Order
95

No. 45/2014 dated 01.04.2014

96
Revised vide Office Order No.55/06 dated 21.07.06, 17/09 dated 27.2.09 & 193rd meeting of the Council held on 19.6.11.

64
 SCategory/ Essential Essential Experience
.Grade/ Post Qualification
N For Internal For External For Internal For External
o Candidates Candidates Candidates Candidates
.
th
5. Electrician / 8 Standard Matriculation and For Recruitment: 3 yrs of 2 years post
Jr. and recognized recognized diploma regular service in the qualification
Technician diploma or or certificate as next below grade as on experience as
certificate as qualified linesman/ the date of advertisement electrician
qualified electrician with at least 2 “Good”
linesman/ possessing licence to and above ratings in the
electrician work as qualified ACR out of the last 3 yrs.
possessing electrician The applications of
licence to work candidates should be
as a qualified forwarded by their
electrician respective HODs.

6. Driver 8th Standard Matriculation and -do- 2 years experience

and a valid valid commercial as a driver
Commercial driving licence
Driving License

7. Telephone Matriculation / Graduates with -do- 5 years experience in

Operator Higher proficiency in similar capacity on
Secondary and operating Telex EPABX Board and
a certificate of Machine & EPABX Telex Machine
proficiency in exchange
operating
manual and
automatic
exchanges

8. Sr Matriculation / Graduate with -do- 5 years experience

Telephone Higher proficiency in on EPABX exchange
operator Secondary and operating EPABX
a certificate of exchange
proficiency in
operating
manual and
automatic
exchanges

9. Jr Assistant Matriculation / Graduate -do- Experience preferred

Higher but not essential
Secondary
possessing a
typing speed of
35 w.p.m

10. Assistant Matriculation Graduate For Recruitment: 3 yrs of 5 yrs experience in

regular service in the next similar capacity
below grade as on the
date of advertisement with
at least 2 “Good” and
above ratings in the ACR
out of the last 3 yrs. The
applications of candidates

65
 SCategory/ Essential Essential Experience
.Grade/ Post Qualification
N For Internal For External For Internal For External
o Candidates Candidates Candidates Candidates
.
should be forwarded by
their respective HODs.
11. Proof Matriculation / Graduate with -do- 3 years post
Reader/ Higher recognized qualification
Publication Secondary Certificate / Diploma experience as a
Asstt in Proof Reading / Proof Reader and
Printing Technology (or) editing

12. Assistant Matriculation Graduate -do- 2 years with

(Secretarial) proficiency of 80
w.p.m. in Shorthand
and 40 w.p.m.
Typewriting /
Computer operations
-MS Office, MS Excel
etc.

13. Sr Assistant / Graduate Graduate -do- 3 years experience

Sr. Jr Stenographer /
Stenographer Stenographer with
(Secretarial) ability of handling
correspondence in
English
independently
Preferable for
operation of the
board /Telex/Fax and
word processor

14. Section Graduate Graduation with 60% For Recruitment: 3 yrs of 5 years experience in
Officer marks alongwith regular service in the supervisory position
Diploma ( of at least next below grade as on in the next below
1 yr duration ) in the date of advertisement grade/scale of pay or
Management with at least 2 “Good” equivalent pay ‘OR’
and above ratings in the 10 years experience
“OR” ACR out of the last 3 yrs. in non-supervisory
The applications of position in the field of
MBA / PGDBM with candidates should be Administration /
50% marks ( of at forwarded by their Student Services &
least 2 yrs duration ) respective HODs. related allied areas in
Industry / Academic
“OR” Institutions /
Professional bodies /
Post Graduate Associations of
Degree in any similar nature & with
discipline with 50% excellent
marks alongwith communication skills
Diploma ( of at least & proficiency in
1 yr duration ) in computer
Management. applications

66
 SCategory/ Essential Essential Experience
.Grade/ Post Qualification
N For Internal For External For Internal For External
o Candidates Candidates Candidates Candidates
.
15. Section Degree in Law / For Recruitment: 3 yrs of 3 years post
Officer (Law) - LL.M. with 50% regular service in the qualification
marks. next below grade as on experience of dealing
the date of advertisement with legal matters in
with at least 2 “Good” Govt./Semi Govt./
and above ratings in the industry /
ACR out of the last 3 yrs. autonomous bodies.
The applications of Experience can be
candidates should be relaxed for
forwarded by their academically
respective HODs. exceptional
candidates.
Candidates should
possess proficiency
in computer
applications.

16. Section - MBA or equivalent -do- 1 to 2 years

Officer degree from a experience in the
(Placement) reputed/recognized relevant field.
Institute

17. Section - MBA or equivalent -do- 1 or 2 years

Officer degree in Marketing experience in
(Marketing) from a Marketing & Sale of
recognized/reputed Publication including
Institute. Journals/CDs/Books.

18. Section - ACS -do- 1- 2 years of post

Officer OR qualification
(Training) MBA or equivalent experience in
degree in HRM from organizing &
a recognized conducting Training
University / Institute. programs in Institutes
of Higher Education /
Universities /
Industry/ PSUs.

19. Section - ACS “OR” Post -do- 1-2 years post

Officer Graduate Degree in qualification
(Career Commerce or Law or experience as
Awareness) Management with Counsellors /
50% marks. Placement Officers or
Education Officers in
Industry / Academic
Institutions /
Professional bodies /
Associations of
similar nature.

67
 SCategory/ Essential Essential Experience
.Grade/ Post Qualification
N For Internal For External For Internal For External
o Candidates Candidates Candidates Candidates
.
20. Section - B.Com & Final pass -do- 5 years experience
Officer of the CA/ ICWA in reputed Firms/
(Finance & examinations Academic or
Accounts ) Professional
“OR “ Institutes/ Industry .

M. Com with 50%

marks.

21. Section - B Sc ( Hospitality & -do- 1-2 years post

Officer Hotel Administration qualification
(Housekeepi ) / Degree in Hotel experience in the
ng & Event Management with field of Administration
Management 60% marks ( of at & Facilities /
) least 3 yrs duration) Hospitality in Industry
from a recognized / Academic
University / Institute ( Institutions /
approved by AICTE) Professional bodies /
“OR” Associations of
similar nature & with
Graduation with 60% excellent
marks alongwith communication skills
Diploma ( of at least & proficiency in
1 yr duration ) in computer
Material applications
Management

“OR”

MBA / PGDBM
(preferably in
material
management ) with
50% marks ( of at
least 2 yrs duration )

22. Section Graduate Graduate For Recruitment: 3 yrs of 5 years experience in

Officer regular service in the similar capacity with
(Secretarial) next below grade as on the Chief Executive /
the date of advertisement Sr Officer of any
with at least 2 “Good” reputed organization
and above ratings in the having proficiency of
ACR out of the last 3 yrs. 120 w.p.m in
The applications of shorthand and
candidates should be 60w.p.min typewriting
forwarded by their
respective HODs.

68
 SCategory/ Essential Essential Experience
.Grade/ Post Qualification
N For Internal For External For Internal For External
o Candidates Candidates Candidates Candidates
.
st
23. Assistant Graduate 1 class graduate or For Recruitment: 3 yrs of A Minimum of 10
nd
Director 2 class post regular service in the years experience as
graduate next below grade as on a Sr Assistant / Sr
(AO/AO(S)) the date of advertisement Stenographer with
with at least 2 “Good” proven writing/
and above ratings in the drafting ability
ACR out of the last 3 yrs.
The applications of
candidates should be
forwarded by their
respective HODs.

24. Assistant - ACS OR -do- 3 years post

Director MBA or equivalent qualification
(Training) degree in HRM from experience out of
a recognized which 2 years
University / Institute. experience in
organizing &
conducting training
programmes in
Institutes of Higher
Education /
Universities / Industry
/ PSUs

25. Assistant - ACS /ACA / AICWA -do- 3 years post

Director qualification
(Career experience as
Awareness) Counsellors/
Placement Officers or
Education Officers in
Schools/
Colleges/Institute of
higher education.
26. Assistant - A degree in For Recruitment: 3 yrs of 10 years in reputed
Director Commerce & final regular service in the Firms/Academic or
(Accounts) pass of the CA/CWA next below grade as on Professional
examinations or a the date of advertisement Institutes/ Industry .
post graduation with at least 2 “Good”
degree in Commerce and above ratings in the
nd
with high 2 class. ACR out of the last 3 yrs.
Candidates The applications of
possessing candidates should be
qualification(s) of forwarded by their
LL.B, respective HODs.
ACS/ACA/ICWA,
shall be given
preference.

27. Deputy Graduate Post Graduate with -do- At least 5 years

nd
Director 2 class . experience in a
Candidates having supervisory position
additional
professional
qualifications or a

69
 SCategory/ Essential Essential Experience
.Grade/ Post Qualification
N For Internal For External For Internal For External
o Candidates Candidates Candidates Candidates
.
law degree Preferred

28. Deputy - A degree in -do- At least 10 years

Director Commerce & Final experience in a
(F&A) pass of the CA/CWA supervisory position
examinations OR in reputed
post graduation Firms/Academic or
degree in Commerce Professional
with 50% marks. Institutes/ Industry
Candidates
possessing LLB or
additional
qualification(s) will be
given preference .

29. Deputy - Post Graduate -do- Should have 10 years

Director Degree in Mass experience of which 5
(PRCC) Communication / years relevant
Advertising & Public experience in a
Relations with 50% Executive position in
marks reputed Educational
“OR” or Professional
Institutes/ Industry/
Post Graduate Advertising/ Publicity/
Degree in any PR/ Event
discipline with 50% Management
marks alongwith organisations in
Diploma ( of at least Govt./Public /Private
1 yr duration ) in Sector with proven
Mass writing / oral
Communication / communication skills
Advertising & Public / leadership qualities.
Relations

30. Joint ACS or post ACS ‘”or” PG degree For Recruitment: 3 yrs of Should have 10 years
Director graduate in in Economics / regular service in the experience of which 5
Economics , Commerce / next below grade as on years relevant
Commerce or Management the date of advertisement experience preferably
Management with at least 2 “Good” in a Sr. Executive
Discipline or and above ratings in the position in Industry /
any other ACR out of the last 3 yrs. Academic Institutions
professional The applications of / Professional bodies
membership candidates should be / Associations of
recognized as forwarded by their similar nature & with
equivalent to a respective HODs. proven leadership
post graduate qualities .
qualification in
the related field
by the
Executive
Committee
31. Joint A degree in -do- At least 10 years
Director Commerce & Final experience in a
(Finance & pass of the CA/CWA supervisory position

70
 SCategory/ Essential Essential Experience
.Grade/ Post Qualification
N For Internal For External For Internal For External
o Candidates Candidates Candidates Candidates
.
Accounts) examinations OR in reputed
post graduation Firms/Academic or
degree in Commerce Professional
with 50% marks. Institutes/ Industry.
Candidates
possessing LLB or
additional
qualification(s) will be
given preference .

32. Director - ACS “OR “ PG -do- Should have 10 years

degree in Economics office experience of
/ Commerce / which 5 years in a Sr.
Management / Law Executive position in
Co-ordination &
Administrative
functions in Industry
/ Academic
Institutions /
Professional bodies /
Associations of
similar nature & with
proven leadership
qualities .

33. Director A degree in For Recruitment: 3 yrs of At least 12 years

(Finance & Commerce & Final regular service in the experience in a
Accounts) pass of the next below grade as on supervisory position
the date of advertisement
CS/CA/CWA in reputed
with at least 2 “Good”
examinations OR and above ratings in the Firms/Academic or
post graduation ACR out of the last 3 yrs. Professional
degree in Commerce The applications of Institutes/ Industry
with 50% marks. candidates should be
Candidates forwarded by their
possessing LLB or respective HODs.
additional
qualification(s) will be
given preference.

34. Joint ACS or post Should possess -do- 15 years office

Secretary graduate in qualifications as experience of which 5
Economics , prescribed for years in a position in
Commerce , internal candidates co-ordination and
Management administrative
discipline or functions in
Law degree or institutions /
any other associations of
professional similar nature
qualification
recognized as

71
 SCategory/ Essential Essential Experience
.Grade/ Post Qualification
N For Internal For External For Internal For External
o Candidates Candidates Candidates Candidates
.
equivalent
thereto by the
Executive
Committee

35. Joint ACS ”or” PG Degree -do- Should have 15 years

Secretary in Economics / experience of which 5
(Human Commerce / years relevant
Resource) Management or Law experience in a
degree Senior Executive
position in Industry /
Academic Institutions
/ Professional Bodies
/ Associations of
similar nature & with
proven leadership
qualities & good
interpersonal and IT
skills.

36. Joint A degree in For Recruitment: 3 yrs of At least 15 years

Secretary Commerce & Final regular service in the experience in a
(Finance & pass of the next below grade as on supervisory position
the date of advertisement
Accounts) CS/CA/CWA in reputed
with at least 2 “Good”
examinations OR and above ratings in the Firms/Academic or
post graduation ACR out of the last 3 yrs. Professional
degree in Commerce The applications of Institutes/ Industry
with 50% marks. candidates should be
Candidates forwarded by their
possessing LLB or respective HODs.
additional
qualification(s) will be
given preference.

37. Dean - Should be a -do- He should have over

(Contractual) postgraduate in 20 years’ experience
Economics, in educational and
Commerce, training institutions
Management preferably in similar
discipline or Law renowned institutions
graduate or any in India and abroad.
other professional
qualification
recognised as
equivalent thereto by
the Executive
Committee.

72
 SCategory/ Essential Essential Experience
.Grade/ Post Qualification
N For Internal For External For Internal For External
o Candidates Candidates Candidates Candidates
.
38. Secretary ACS and post Should possess -do- 15 years executive
graduate in qualifications as experience in
economics, prescribed for Administration of
Commerce , internal candidates which 5 years
Management experience in similar
discipline or law capacity
degree or any
other
professional
qualification
recognized as
equivalent
thereto by the
executive
committee

73
 [ACADEMICS & RESEARCH GRADE / POSTS]97

S.No Category/ Essential Qualification Essential Experience

Grade/ Post
For Internal Candidates For External For Internal For External
Candidates Candidates Candidates
1. Research A Graduate Degree and a .A Graduate For Recruitment: 3 yrs of Nil
Assistant Degree in Law from a Degree and a regular service in the next
recognised University Degree in Law below grade as on the
or from a recognised date of advertisement with
A Graduate Degree from a University with at at least 2 “Good” and
recognized University and least 50 per cent above ratings in the ACR
Intermediate pass of the marks out of the last 3 yrs. The
CS/CA/CWA Examination. or applications of candidates
Or A Graduate
should be forwarded by
A Post Graduate Degree in Degree from a
their respective HODs.
relevant discipline or area recognized
of specialization of CS University and
Course Intermediate pass
of the
CS/CA/CWA
Examination
Or
A Post Graduate
Degree in
relevant discipline
or area of
specialization of
CS Course.

2. Management - ACS /ACA / -do- Experience

Trainee AICWA preferred but not
OR essential .
Post Graduate
Degree in
Commerce or Law
or Management
with 50% marks

3. Assistant A Graduate Degree from a A Graduate -do- Experience

Education recognised University and a degree from a preferred but not
Officer Degree in Law recognized essential.
or University and
A Graduate Degree from a final pass of
recognized University and CS/CA/CWA
Intermediate pass of the examination.
CS/CA/CWA Examination.
Or ‘OR’
A Post Graduate Degree in
relevant discipline or area Post Graduate
of specialization of CS Degree in
Course Commerce / Law /
Management with
50% marks.
4. Assistant A Graduate Degree from a ACS / ACA / For Recruitment: 3 yrs of 3 years post
Director recognised University and a AICWA regular service in the next qualification
Degree in Law “OR” below grade as on the experience in
(Education or Post Graduate date of advertisement with Teaching /
Officer) A Graduate Degree from a Degree in Research or

97
Revised vide Office Order No.55/06 dated 21.7.06 & 193rd meeting of the council held on 19.6.11.

74
S.No Category/ Essential Qualification Essential Experience
Grade/ Post
For Internal Candidates For External For Internal For External
Candidates Candidates Candidates
recognized University and Commerce or Law at least 2 “Good” and relevant Industry
Intermediate pass of the or Management above ratings in the ACR experience with a
CS/CA/CWA Examination. with 50% marks out of the last 3 yrs. The flair for academic
Or applications of candidates writing
A Post Graduate Degree in should be forwarded by
relevant discipline or area their respective HODs.
of specialization of CS
Course

5. Assistant - Post -do- Academic

Director Graduate/CS/CA/ experience like
(Research) CWA/MBA with a teaching or
research degree research of at
(at least M. Phil.) least three years.
The candidate
should have
published 10 to
20 Articles/Papers
in professional
quality journals (in
English language)
of national repute.
[e.g. Chartered
Secretary/Taxma
n/Management
Accountant/
ET/Hindu
Business Line/
Chartered
Accountant, etc].
Intensive and
extensive
professional and
general reading
habit is a must.

6. Deputy A Graduate Degree from a A Graduate -do- 5 years

Director recognised University and a Degree from a teaching/research
Degree in Law recognised /
or University and a Industry
A Graduate Degree from a Post Graduate experience
recognized University and Degree in Law Or
Intermediate pass of the with at least 50 3 years teaching/
CS/CA/CWA Examination. per cent marks research/industry
Or or experience, if the
A Post Graduate Degree in A Graduate candidate
relevant discipline or area Degree from a possesses a Ph.D
of specialization of CS recognized Degree in the
Course University and relevant
Final pass of the discipline.
CS/CA/CWAExam
ination
Or
A Post Graduate
Degree in
relevant discipline
or area of
specialization of

75
S.No Category/ Essential Qualification Essential Experience
Grade/ Post
For Internal Candidates For External For Internal For External
Candidates Candidates Candidates
CS Course with
atleast 50 per cent
marks.
7. Deputy - ACS / ACA For Recruitment: 3 yrs of 5 years post
Director regular service in the next qualification
/AICWA
(Corporate below grade as on the experience in
Governance) OR date of advertisement with Teaching /
Post Graduate at least 2 “Good” and Research or
Degree in above ratings in the ACR relevant Industry
Commerce or Law out of the last 3 yrs. The experience with a
or Management applications of candidates flair for academic
with 50% marks should be forwarded by writing .
their respective HODs. OR
3 years post
qualification
experience (if the
candidate
possesses a Ph.D
degree or
Fellowship of IIM)
in Teaching /
Research or
relevant Industry,
with a flair for
academic writing
8. Joint Director A Graduate Degree from a A Graduate -do- 7 years
recognised University and a Degree from a teaching/research
Degree in Law recognised /
or University and a Industry
A Graduate Degree from a Post Graduate experience
recognized University and Degree in Law Or
Intermediate pass of the with at least 50 5 years teaching/
CS/CA/CWA Examination. per cent marks Industry/research
Or or experience if the
A Post Graduate Degree in A Graduate candidate
relevant discipline or area Degree from a possesses a Ph.D
of specialization of CS recognized Degree in the
Course University and relevant
Final pass of the discipline.
CS/CA/CWA
Examination
Or
A Post Graduate
Degree in
relevant discipline
or area of
specialization of
CS Course with
atleast 50 per cent
marks.
9. Director A Graduate Degree from a A Graduate For Recruitment: 3 yrs of 10 years
recognised University and a Degree from a regular service in the next teaching/
Degree in Law recognised below grade as on the research/
or University and a date of advertisement with Industry
A Graduate Degree from a Post Graduate at least 2 “Good” and experience
recognized University and Degree in Law above ratings in the ACR Or
Intermediate pass of the with at least 50 out of the last 3 yrs. The 7 years teaching
CS/CA/CWA Examination. per cent marks applications of candidates /research
Or or /industry
should be forwarded by

76
S.No Category/ Essential Qualification Essential Experience
Grade/ Post
For Internal Candidates For External For Internal For External
Candidates Candidates Candidates
A Post Graduate Degree in A Graduate their respective HODs. experience if the
relevant discipline or area Degree from a candidate
of specialization of CS recognized possesses a Ph.D
Course University and Degree in the
Final pass of the relevant
CS/CA/CWA discipline..
Examination
Or
A Post Graduate
Degree in
relevant discipline
or area of
specialization of
CS Course with
atleast 50 per cent
marks.
10. Director - ACS ‘”or” PG -do- Should have 10
(Publications) degree in years experience
Economics / of which 5 years
Commerce / relevant
Management / experience in a
Law Senior Executive
position in
Industry /
Academic
Institutions /
Professional
bodies /
Associations of
similar nature &
with proven
leadership
qualities .
11. Director - ACS ”or” PG For Recruitment: 3 yrs of Should have 10
(Council degree in regular service in the next years experience
Affairs ) Economics / below grade as on the of which 5 years
Commerce / date of advertisement with relevant
Management at least 2 “Good” and experience in a
above ratings in the ACR Sr. Executive
out of the last 3 yrs. The position in
applications of candidates Industry /
Academic
should be forwarded by
Institutions /
their respective HODs.
Professional
bodies /
Associations of
similar nature &
with proven
leadership
qualities .

12. Director - Should be Post -do- Should have a

(Quality review Graduate in minimum 10
board ) Economics / Law / years experience
Commerce and as Company
Member of the Secretary in a
Institute of reputed
Company organization or as
Secretaries of a Practising

77
S.No Category/ Essential Qualification Essential Experience
Grade/ Post
For Internal Candidates For External For Internal For External
Candidates Candidates Candidates
India. Company
Secretary.

13. Joint Secretary A Graduate Degree from a A Graduate -do- 15 years

recognised University and a Degree from a teaching/
Degree in Law recognised research/
or University and a Industry
A Graduate Degree from a Post Graduate experience
recognized University and Degree in Law Or
Intermediate pass of the with at least 50 10 years
CS/CA/CWA Examination. per cent marks teaching/research
Or or / industry
A Post Graduate Degree in A Graduate experience if the
relevant discipline or area Degree from a candidate
of specialization of CS recognized possesses a Ph.D
Course University and Degree.
Final pass of the
CS/CA/CWA
Examination
Or
A Post Graduate
Degree in
relevant discipline
or area of
specialization of
CS Course with
atleast 50 per cent
marks.
14. Joint Secretary - Candidate must For Recruitment: 3 yrs of 10 years
be a Member of regular service in the next academic /
(Research) the Institute or below grade as on the research
(Contractual) M.Phil, with First date of advertisement with experience in the
or high Second at least 2 “Good” and relevant area
Class at Post above ratings in the ACR
Graduate level. out of the last 3 yrs. The
The preference applications of candidates
will be given to
should be forwarded by
candidates with
their respective HODs.
Ph.D qualification.
The candidate
must have proven
track record in
academics &
research with
good knowledge
of Companies Act,
Corporate Laws,
Economic Laws
and general
economic
scenario.
Proficiency in
English and
working on
Computers is a
pre-requisite.

78
 [TECHNICAL GRADE / POSTS (IT)]98

S.No Category/ Essential Qualifications Essential Experience

Grade/ Post

For internal For external candidates For internal For external

candidates candidates candidates
1. Joint Secretary MCA or B. Tech For Recruitment: 3 Minimum 12 Years of
(IT) (Computer yrs of regular experience in the
Science/IT/Electronics) service in the next respective field out of
with 1st or 2nd Division below grade as on which 7 years
from recognized / the date of experience as Project
reputed University
advertisement with Leader.
at least 2 “Good”
and above ratings in
the ACR out of the
last 3 yrs. The
applications of
candidates should
be forwarded by
their respective
HODs.

2. Director MCA or B.Tech MCA or B.Tech -do- Minimum 9 Years of

(IT) (Computer (Computer experience in the
Science/IT/Electroni Science/IT/Electronics) respective field out of
cs) with 1st or 2nd with 1st or 2nd Division which 5 years
Division from from recognized / experience as Project
recognized / reputed University Leader.
reputed University
3. Joint Director MCA or B.Tech MCA or B.Tech -do- Minimum 7 Years of
(IT) (Computer (Computer experience in the
Science/IT/Electroni Science/IT/Electronics) respective field out of
cs) with 1st or 2nd with 1st or 2nd Division which 3 years
Division from from recognized / experience as Project
recognized / reputed University Leader.
reputed University
4. Deputy MCA or B.Tech MCA or B.Tech -do- Minimum 5 Years of
Director (IT) (Computer (Computer experience out of
Science/IT/Electroni Science/IT/Electronics) which 2 years of
cs) with 1st or 2nd with 1st or 2nd Division experience as project
Division from from recognized / leader. The selection
recognized / reputed University Committee may
reputed University consider candidate
. with 4 years of
experience in case of
exceptional
candidates.

98
Revised vide Office Order No.55/06 dated 21.7.06 & 193td meeting of the council held on 19.6.11

79
S.No Category/ Essential Qualifications Essential Experience
Grade/ Post

For internal For external candidates For internal For external

candidates candidates candidates
5. Assistant MCA or B.Tech MCA or B.Tech For Recruitment: 3 Minimum 3 Years of
Director (Computer (Computer yrs of regular experience out of
Science/IT/Electroni Science/IT/Electronics) service in the next which 2 years of
(System cs) with 1st or 2nd with 1st or 2nd Division below grade as on experience as project
Analyst) Division from from recognized / the date of leader. The selection
recognized / reputed University advertisement with Committee may
reputed University at least 2 “Good” consider candidate
and above ratings in with 2 years of
experience in case of
the ACR out of the
exceptional
last 3 yrs. The
candidates.
applications of
candidates should
be forwarded by
their respective
HODs.

6. Oracle Apps MCA / B.Tech / CS/ -do- Functional

Functional CWA / CA or equivalent experience in Oracle
(candidates with B.Tech / Application in
MCA, 1st Division and following areas: -
having Oracle
certification will be given (a) Finance (AP, AR,
preference) FA, GL, and CE)
(b) Purchasing,
Inventory & Order
Management
(c) HR & Self service
HR and Payroll

Candidates with
experience of more
than 3 year will be
preferred. Excellent
candidates with less
experience may also
be considered for this
post.

7. Sr. Minimum one and MCA or B.Tech -do- Minimum 2 yrs post
Programmer half year PG (Computer qualification
Diploma in Science/IT/Electronics) experience in
Computer or equivalent with 1st or programming on
Application Course 2nd Division from MS.Net, Crystal
from a recognized Institute / Report and SQL
recognized/reputed University Server . Excellent
University OR candidates with less
Equivalent. experience may also
be considered for this
post. Must have
managed at least one
project on MS.Net
and SQL Server
independently

80
 S.No Category/ Essential Qualifications Essential Experience
Grade/ Post

For internal For external candidates For internal For external

candidates candidates candidates
8. Assistant - MCA or B.Tech For Recruitment: 3 Minimum 3 yrs post
Director (Computer yrs of regular qualification
(SS - IT) Science/IT/Electronics) service in the next experience in
or equivalent with 1st or below grade as on programming on
2nd Division from the date of MS.Net, Crystal
recognized Institute / advertisement with Report and SQL
University at least 2 “Good” Server . Excellent
and above ratings in candidates with less
experience may also
the ACR out of the
be considered for this
last 3 yrs. The
post. Must have
applications of managed at least one
candidates should project on MS.Net
be forwarded by and SQL Server
their respective independently
HODs.

9. Section Officer - MCA or B.Tech -do- Minimum 3 yrs post

(SS - IT) (Computer qualification
Science/IT/Electronics) experience in
(Desk Officer) or equivalent with 1st or programming on
2nd Division from MS.Net, Crystal
recognized Institute / Report and SQL
University Server. Excellent
candidates with less
experience may also
be considered for this
post. Must have
managed at least one
project on MS.Net
and SQL Server
independently

10. Programmer Minimum one and MCA or B.Tech -do- Minimum 1 yr post
half year PG (Computer qualification
Diploma in Science/IT/Electronics) experience in
Computer or equivalent with 1st programming in
Application Course Division from recognized relevant field.
from a Institute / University
recognized/reputed
University OR
Equivalent.
11. Programmer MCA or B.Tech For Recruitment: 3 Minimum 1 yr post
(Oracle) (Computer yrs of regular qualification
Science/IT/Electronics) service in the next experience in
or equivalent with 1st below grade as on programming in
Division from recognized the date of relevant field.
Institute / University advertisement with
at least 2 “Good”
and above ratings in
the ACR out of the
last 3 yrs. The
applications of

81
S.No Category/ Essential Qualifications Essential Experience
Grade/ Post

For internal For external candidates For internal For external

candidates candidates candidates
candidates should
be forwarded by
their respective
HODs.

12. Jr. Minimum one and MCA or B.Tech -do- Minimum 6 months
Programmer half year PG (Computer post qualification
Diploma in Science/IT/Electronics) experience in
Computer or equivalent with 1st or programming in
Application Course 2nd Division from relevant field.
from a recognized/ recognized Institute /
reputed University University.
OR Equivalent.
13. Jr. - MCA or B.Tech -do- Minimum 6 months
Programmer (Computer post qualification
(Oracle) Science/IT/Electronics) experience in
or equivalent with 1st or programming in
2nd Division from relevant field.
recognized Institute /
University.

14. Assistant - Graduate & Minimum 11/2 -do- Minimum 1year post
(SS-IT) (One & Half) years PG qualification
Diploma in Computer programming /
Course from a database
recognized Institute / handling/reporting
University . experience.

15. Assistant - Graduate & Minimum For Recruitment: 3 Minimum 1year post
(IT) 11/2 (One & Half) years yrs of regular qualification
PG Diploma in Computer service in the next programming /
Course from a below grade as on database
recognized Institute / the date of handling/reporting
University . advertisement with experience.
at least 2 “Good”
and above ratings in
the ACR out of the
last 3 yrs. The
applications of
candidates should
be forwarded by
their respective
HODs.

82
S.No Category/ Essential Qualifications Essential Experience
Grade/ Post

For internal For external candidates For internal For external

candidates candidates candidates
16. Junior Graduate & Minimum -do- Minimum 6 months
Assistant 11/2 (One & Half) years post qualification
(SS- IT) PG Diploma in Computer programming /
Course from a database handling /
recognized Institute / reporting experience
University . preferred but not
essential

17. Junior - Graduate & Minimum -do- Minimum 6 months

Assistant (IT) 11/2 (One & Half) years post qualification
PG Diploma in Computer programming /
Course from a database handling /
recognized Institute / reporting experience
University . preferred but not
essential

18. Project - MCA / B.Tech ( -do- Minimum 3 Years of

Manager Computer professional
Contractual Science/Electronics) experience as a full
Vacancy or equivalent / MBA (IT) / time Technical
Graduate with Diploma in Faculty / Center
Computer Application of Head at an
at least 1 ½ years Educational Institute
duration or equivalent / University imparting
with 1st or 2nd Division Software/ Hardware
from recognized training or
University / Institute management training
.

83
 SCHEDULE ‘E’

ICSI’s FAMILY HOPITALIZATION & MEDICAL PLAN

(See Rule 30 of Service Rules)

With the object of providing basic protection to the employees and their family
members against hospitalization and medical expenses caused by sickness and
accident and to relieve to the extent specified herein the financial burden that
employees might otherwise incur, the Council hereby announces the Hospitalization
& Medical Plan as under in pursuance of Rule 30 as amended by Council from time
to time :

1. This plan will go into effect for the employees and eligible members of his
family starting with the first day of regular confirmed employment. 99 [The Medical
facility during probation at par with the permanent employee of the Institute, in
respect of officers who have joined the services of the Institute on ‘lateral entry
basis & against the permanent vacancy as well as where adequate past experience
etc. was prescribed for such vacancy/post(s). However, in the event of resignation
of such officers, prior to one year of service or confirmation (whichever is later) the
said officers shall be entitled to such benefits on pro-rata basis only. Further
officials recruited in the Institute against permanent vacancy at the induction level
(i.e. MTs etc.) shall be entitled to such regular benefits only upon their completion of
probation as per the existing rules.] For the purpose of this Plan `family’ as defined
in the Service Rules 100[and the dependent parents shall means follows :-

a) A parent will be regarded as wholly dependent on the employee who

normally resides with the employee concerned and whose (parents) total
monthly income does not exceed the pay plus dearness pay (where
applicable) of the employee or 101[Rs.1500/-] per month whichever is low.

b) The declaration regarding the income and resident of the parents should
be furnished by the employee along with other particulars of family to
Accounts Department once in the beginning of every calendar year.

c) Lump sum non-recurring income such as contributory Provident Fund

benefits, Gratuity/Commuted Gratuity, insurance benefits, etc. will not be
regarded as ‘income’ for this purpose.

d) Recurring monthly income from sources, such as, houses, land holdings,
etc. will, however, be taken into account for the purpose of assessing
income.

e) In case of parents drawing government pension, the interim relief granted

to a Central Government pensioner will not be treated as part of the
income of the dependent parents for the purpose of determining their
dependence on the employee for the purpose of medical benefit.

99
Inserted vide Office Order No.08/05 dated 03.03.05
100
Inserted vide circular No.03/81 dated 20/25.03.81
101
Substituted for Rs. 250/- vide Office Order No. 11/98 dated 06.04.98.

84
f) In case the members of the family of the employee reside at a place other
than his duty station and his parents also reside with the rest of the family
members, the condition regarding residence of the parents with the
employee may be waived.

g) Female employee(s) will be given the choice to include either her parents
or her parents-in-law for the purpose of availing of the benefits under the
ICSI Family Hospitalization and Medical Plan subject to the fulfillment of
conditions of dependence and residence as stipulated above.

h) The female employee should immediately after her marriage or if already

married within two months, give a declaration as to whether she would
like to include her parents or parents-in-law for the purpose of availing the
medical benefits under this Medical Plan. She can change her option
only once during the entire period of her service].

2. All claims under this Plan should be submitted in the prescribed form duly
signed by at least the Sectional Head and sent to the Dte. of Accounts.

3. Dte. of Accounts shall scrutinize the claims and arrange for payment as per
the rates given in rule 30 and as per procedure prescribed by the Secretary
from time to time.
102
[The limit of yearly reimbursement of medical expenses w.e.f. 01.04.05 in
respect of the employees in the different slabs of grade pay as per table given
below :

[Grade Pay]103 [Revised Limit]104

(Financial year basis)
(Rs.) (Rs.)
(i) Rs. 6600 & 10,000
Below
(ii) Rs. 7600 & 15,000 ]
above

4. At the time of submission of the claim, the employee will give a declaration
as to its genuineness and correctness. Any false information in this regard will
make the employee liable for misconduct under the Service Rules. At its own
discretion, the Institute may refer any of the claims to a Doctor or a panel of
Doctors for their perusal and approval which shall be binding on the employee.

5. The employee is expected to obtain the services of a qualified registered

medical practitioner or any Ayurvedic, Homeopathic or Unani medical
practitioner as recognized and approved by the Institute from time to time.
However, it will be the choice of the employee to consult any recognized
medical officer or specialist for himself and his family members.
102
Inserted new para 3 “limits of reimbursement”
103
Substituted to Grade Pay vide Office Order No.17/09 dated 27.2.09 due to revision of pay scales w.e.f. 1.1.06.
104
Limits of reimbursements revised vide Office Order No. 16/05 dated 21.3.05, read with Office Order No. 63/02
dated 29.11.02, 48/99 dated 16.12.99, 75/96 dated 14.08.96, 62/95 dated 04.09.95, 06/94 dated 07.01.94, 38/90
dated 29.06.90, 94/79 dated 12.12.79.

85
 6. All the claims should be accompanied by prescriptions, receipts and
vouchers of the Doctors. The prescriptions may be returned to the employee,
if specifically requested.

7. The employees will be entitled to claim re-imbursement of medical expenses

for the spouse who is in employment provided that the spouse is not entitled
for any medical benefit from that employer or transfers such benefit to the
Institute.

8. Tonics and general vitamins will be admissible only when prescribed by the
Institute/panel medical officer and certified as essential.

9. For bills pertaining to medicines supplied by the attending physician,

complete details thereto with dates should be provided.

10. All cases of illness should be reported to the office soon after the treatment
is started in case the treatment is likely to prolong for a period of more than 7
days.

11. Employees undergoing medical treatment and desiring to claim while

attending office at the same time, should normally report illness in advance to
the Dte. of Accounts through his Departmental Head.

12. Reimbursement for medical expenses incurred when out of station (with
the approval of the Institute) will be considered by the Institute on the basis of
medical report given by the medical officer(s) appointed by the Institute for this
purpose.

13. Routine dental check-up will not be covered under this plan.
105
14. [Spectacles and Eye testing from the qualified eye specialist (excluding
testing optician) indicating therein the specific problem and recommending the use
of spectacles alongwith cash memo indicating separately cost of glasses and frame
for the purchase of spectacles should invariably be attached with the medical claim
for reimbursement. The reimbursement of cost of spectacles (i.e. glasses and
frames) will be limited to a maximum of Rs.1,000/- will be reimbursable once in two
years to the employee and also to each eligible member of his family will be
reimbursed from the eligibility limit. The reimbursement will also be made for the
cost of contact lens prescribed by a specialist once in a two year, subject to a
maximum of Rs. 1,000/- on each occasion. In such cases cost of spectacles will not
be reimbursed. ]

15. Any relaxation in the above provisions may be made only by the Secretary in
deserving cases. Cases not covered under these rules will be dealt with on
individual merits by the Secretary.

105
Inserted vide Office Order No.68/90 dated 29.11.90 read with Office Order No.63/02 dated 29.11.02.

86
16. 106[The un-availed yearly limit of medical reimbursement amount can be
carry forward to the subsequent and following years as admissible from time to
time which will be restricted to 75% of the limits subject to a maximum of Rs.
7,500/-]

17. The rates prescribed for the purpose of rule 3 of the Plan would be as
prescribed from time to time.

18. The attending doctor will normally prescribe the medicines and the
employees shall purchase the same from the chemists. If the attending doctor
is required to provide medicines for any spell of illness, consulting fees and
medicines not exceeding Rs. 100/- for the spell of disease may be reimbursed
by the Institute under the medical plan. In case medicine is dispensed by the
attending doctor and he has not given the details, the attending doctor, where
considered necessary by the Institute, would be required to indicate the
details/nature of illness, amount of consultation fee charged and the cost of
medicines dispensed along with the dates, which should be submitted by the
employees along with their claims for reimbursement. This procedure will
equally be applicable in the case of treatment given by the Homeopathic/
Ayurvedic / Unani medical practioners.

19. The Institute reserves the right to amend, modify and alter the rules
mentioned above from time to time and to bring it in uniformity with the rules
regarding medicines prescribed and medical services provided by the Central
Government to its employees under the C.G.H.S. Scheme.

106
Substituted vide Office Order No. 63/02 dated 29.11.02.

87
 Schedule - E-1

THE ICSI EMPLOYEES’ MEDICAL

HOSPITALIZATION TRUST RULES
(As amended upto 1st April, 2014)

88
 INDEX
RULE CONTENTS PAGE
NO. NO.
1 Short title and commencement 90

2 Definitions 90 – 91

3 Eligibility 91

4 Qualifying limits & reimbursement 91 – 95

5 Recognized hospitals & nursing homes 96

6 Ambulance charges 96

7 General 96

8 Preference of claim 96 - 97

89
ICSI EMPLOYEES MEDICAL HOSPITALISATION TRUST RULES

1. SHORT TITLE AND COMMENCEMENT

a) These rules shall be called the ICSI Employees Medical

Hospitalization Trust Rules, 1997, as amended from timed to time.

b) These rules shall come into force with effect from the 10th day of
November, 1997.

c) Reimbursement of medical treatment will be admissible for the

diseases covered under these rules.

2. DEFINITIONS

In these Rules, unless excluded by or repugnant to the context:

a) ‘Institute’ shall mean the Institute of Company Secretaries of India

constituted under the Company Secretaries Act, 1980.

b) ‘Employees’ shall mean (i) a confirmed employee of the Institute

107
[including the officers (on probation) who have joined the services
of the Institute on ‘lateral entry basis’ and against the permanent
vacancy as well as where adequate past experience etc., was
prescribed for such vacancy / post(s).]

c) Member of ‘Family’ shall mean the employee’s spouse and not more
than two living children dependent upon and residing with him/her.

d) “Major Disease” shall mean and include Cancer, Leukemia,

Thallassaemia Major, Tuberculosis, Paralysis, Cardiac Ailments,
108
[spinal injuries and ailments, multiple fractures and joint
replacements,] Pleurisy, Leprosy, Kidney Ailments, Epilepsy,
Parkinson’s disease, Psychiatric disorder and diabetes, Poliomyelitis,
Cerebral Palsy and Spastics. Eye treatment through Lasik laser and
109
[surgery or procedure where the expenditure involves more than
Rs. 50,000/- (Rupees Fifty Thousand Only] and any other disease as
approved by the Institute on the recommendations of the Institute’s
Doctor from time to time.

e) “Minor Disease” shall mean and include any other disease not
covered under the rule 2(d) above.

f) ‘Recognized Hospital/Nursing Home’ shall mean and include the

Government Hospital of Central, State level/Private Hospital/Nursing

107 rd
Inserted vide O/O No. 8/2005 dated 3 March, 2005, w.e.f. 27.1.2011.
108
Inserted words, “spinal injuries and ailments, multiple fractures and joint replacements” w.e.f. 27.1.2011.
109
Inserted words, “surgery or procedure where the expenditure involves more than Rs. 50,000/- (Rupees
Fifty Thousand Only) ” w.e.f. 27.1.2011.

90
 Home (with a minimum of 110 [15] beds) registered with Central
Government / State Governments / Government of Union Territory
and recognized by the Institute from time to time.

g) ‘Rules’ shall mean the ICSI Employees Hospitalization Trust Rules

and any other amendment thereof for the time being in force.

h) ‘Amendment’ shall mean and include alteration, deletion, rescission,

addition, change or variation.

3. ELIGIBILITY

These Rules shall apply to (i) the confirmed employee of the Institute and
shall cover the employee and his/her spouse and not more than two living
children dependent upon and residing with him/her (ii) 111 [the employees
who retired from the services of the Institute on attaining the age of
superannuation and were granted superannuation pension] (iii) [Their
dependent Family members]112 (iv) 113 [the dependents of the employees of
the Institute who died while in service].
114
4. [QUALIFYING LIMITS & REIMBURSEMENTS]

a) In the case of reimbursement of expenditure incurred on the treatment

of diseases covered under the rule2 (d), the liability of the employee
would be 10% of the approved expenditure, whereas in the case of
treatment of diseases covered under rule 2(e), the liability of the
employee would be 115[15%] of the approved expenditure.

b) The employee’s contribution can be paid/adjusted out of the

accumulation of unutilized portion of the amount lying in his/her
account under the Scheme of reimbursement of medical expenses of
the Institute for diseases/ailments other than those covered by these
rules.
116
c) [DELETED] 117[The overall ceiling limit for reimbursement of
medical expenses for “Major” and “Minor Diseases” including room
rent incurred by the employee] 118 [DELETED] 119[shall be as per
the table given below] : 120 [Table ]

110 rd
Substituted for figure “30” vide O/O No. 34/2005 dated 3 June, 2005.
111 th
Inserted vide O/O No. 36/2009 dated 25 March, 2009.
112 st
Inserted vide O/O No. 24/2013 dated 1 April,2013
113 th
Inserted vide O/O No. 41/2010 dated 26 April, 2010.
114
Substituted for the word “LIMITATION”.
115 th
Substituted for figure “25%” vide O/O No. 57/2008 dated 4 September,2008.
116 st
Deleted words, “w.e.f. 1 May, 2002” w.e.f. 27.1.2011.
117 th th
Inserted vide O/O Nos. 57/2008 dated 4 September,2008 & 22/2009 dated 7 March,2009.
118
Deleted words, “On self & each of the member of his/her family” on 27.1.2011.
119
Inserted words, “shall be as per the table given below” w.e.f. 27.1.2011.
120
Inserted “Table - entitlement for Major & Minor Diseases”.

91
S.No. Category Entitlement
(in Rupees)
For Major For Minor Room Rent
disease disease [(per day)]121
( lifetime ) (per annum)
122
1 Non Officers [6.00 lacs 50,000 1,500
123
2 [SO / AEO / 8.00 lacs 60,000 2,500
AD & equivalent
3 DD / JD & 10.00 lacs 70,000 3,500
equivalent
4 Director / Joint 14.00 lacs 80,000 5,500
Secretary
5 Joint Secretary 20.00 lacs 100,000] 7,000
(SG)] & above
124
[DELETED]
125
[Further, it has been decided that :

(i) The Serving and superannuated employees will be entitled to

preventive medical health check-up under the Preventive Medical
Health Check-up Scheme of the Institute, as at Annexure – I, out of
their entitlements under the category of ‘Minor Diseases’.

(ii) The superannuated employees will be reimbursed outpatient benefits

at the same level as available to serving employees of the
corresponding grade, but within their entitlement for Minor Diseases.]
126
d) [The benefits to major diseases under these Rules to (i) the
superannuated employees and (ii) the dependents of the employees
who died while in service will be limited to the unutilized portion of the
total entitlement.]
127
e) [In case of admission in Intensive Care Unit (ICU), the
reimbursement of bed charges will be limited to the extent twice the
room rent entitlement as mentioned above.]

121
Inserted word, “per day” w.e.f. 27.1.2011.
122
Entitlement of amount revised vide Office Order No. 50/2012 dated 12.4.2012 w.e.f 1.4.2012. Prior to
revision the entitlements for “major” disease were Rs. 3.00, 4.00, 5.00, 7.00 10.00 lacs and for “minor”
disease Rs. 25,000, 30,000, 35,000, 40,000, 50,000.
123
Substituted for the word ‘DO/PS/EO/AO’, ‘AD/DD’, ‘Jt. Director/Director’, ‘Sr. Director’ vide Office
Order No. 45/2014 dated 01.04.2014
124
Deleted the Clause – I, II & III of office order no. 50/2012 dated 12.4.2012.
125
Inserted new clause – I & II vide office order no. 69/2014 dated 12.05.2014 w.e.f 01.04.2014.
126 th th
Inserted vide O/O Nos. 36/2009 dated 25 March, 2009 & 41/2010 dated 26 April, 2010.
127
Inserted new Clause (e) w.e.f. 27.1.2011.

92
 f) The medical treatment relating to maternity / miscarriage / abortion is
not covered under these rules.

g) In case of hospitalization for medical treatment due to accident, the

employee 128 [shall] claim the benefit of medical treatment under the
existing group accident insurance policy as arranged by the Institute
129
[and shortfall, if any, may be claimed under these rules.]

h) The employee whose spouse is employed and is entitled to

medical/hospitalization benefit in his/her organization shall 130 [first
claim the benefit from his/her organization and may claim the shortfall,
if any, under these rules.] Further, the employee shall have to give an
undertaking that he/she has 131[already availed such benefits and / or
such benefits is not available to his/her spouse.] 132 [DELETED].

i) Within the overall limits given above, the charges actually incurred for
engaging a nurse/attendant may be reimbursement in deserving
cases on the recommendations of the Institute’s Doctor.
133
[j)] The minimum period of hospitalization for 24 hours would be
necessary except in the following cases in order to qualify for the
benefits :-

(i) Dialysis (ii) Chemotherapy

(iii) Radio therapy (iv) Eye Surgery

134
[(v) Lasik Laser] (vi)Dental 135 [Treatment
and] Surgery

(vii) Lithotripsy (Kidney (viii) Tonsillectomy

stone removal)
136 137
[DELETED] [(Ix)Endoscopic
Procedures and Surgeries,]
138
[(x) Orthopedic
procedures ]

128
Substituted for the word “will have to” on 27.1.2011.
129
Inserted the word “and shortfall, if any, may be claimed under these rules” on 27.1.2011.
130
Substituted for the words “be eligible for the benefit under these rules only on production of a
certificate from the respective employer that he/she is not availing any kind of medical/hospitalization
benefit” on 27.1.2011.
131
Inserted words “already availed such benefits and / or such benefits is not available to his/her
spouse/” on 27.1.2011.
132
Deleted words, “not availed the benefit from any other source, the reimbursement of which is being
claimed from the Institute” on 27.1.2011.
133 rd
Inserted Clause(j) vide O/O No. 34/2005 dated 3 June, 2005.
134
Inserted words, “Lasik Laser” w.e.f. 27.1.2011.
135
Inserted words, “Treatment and” w.e.f. 27.1.2011.
136
Deleted word, “(ix) D&C” on 27.1.2011.
137
Inserted words, “Endoscopic Procedures and Surgeries ” w.e.f 27.1.2011.
138
Inserted words, “Orthopedic procedures” w.e.f 27.1.2011.

93
 139
[(k)] Medical expenses incurred in respect of the 140[major/minor]
diseases which need domiciliary treatment as may be specified by the
recognized hospital/nursing home authorities and Institute’s doctor
shall be deemed as hospitalization expenses and reimbursement shall
be to the extent as prescribed in Rule 4 above.

(l) The cost of medicines, etc. in respect of domiciliary treatment shall be

reimbursed for the period stated in the Specialist’s prescription. If no
period is stated, the prescription for the purpose of reimbursement
shall be valid for a period of 90 days.
141
[DELETED - para 6(iii)]

142
[m] The reimbursement under these Rules shall cover nursing charges,
room charges, fees to medical practitioners/surgeons/ anesthetists /
consultants/obstetricians and the charges for pathological and
143
diagnostic tests/ ECG/ X-rays, [etc. It will also cover the cost of
Prosthesis,] artificial limbs, pacemakers, 144 [DELETED] 145 [stents,
intraocular lanses], artificial dentures, Blood, Oxygen, 146[Respirator,
Ventilator], Operation Theatre, injections, cost of medicines, drugs/
147
[disposables and consumables] and other relevant items including
diet charges, 148 [etc.]

Expenditure incurred on the following items shall not be reimbursed:

139
Deleted the headings under para (vi) “extent of reimbursement of expenses in the case of major disease” on
27.1.2011 & in place of para 6(i) to 6(ii) substituted to para 4 (k), (l).
140
Inserted the word “major / minor” on 27.1.2011.
141
- Deleted clause No.6 (iii) (a) & (b) reading as under :
“Package Charges :-
a) Subject to the overall limits prescribed under Rule 4 above, the package charges in the case of following
diseases shall be reimbursed as under:

1. Coronary Bypass Surgery Upto Rs. 2,00,000/-

2. Coronary Angiography Upto Rs. 1,50,000/-
3. Angioplasty Upto Rs. 1,00.000/-
4. Kidney Transplant Upto Rs. 1,50,000/- & (including Donor &
Recipient

Provided that in deserving cases the Executive Trustee may grant higher package charges within the
overall limits on the recommendations of the Institute’s Doctor /Medical Board constituted by the
Institute.

b) The above rates include bed charges from the date of admission to the date of discharge, service
charges, nursing/medical care, surgeon’s & anesthetist’s fees and operation theatre charges.”
142 rd
Inserted para 4 (m) vide O/O No. 34/2005 dated 3 June, 2005.
143
Inserted words, “etc. It will also cover the cost of Prosthesis” w.e.f 27.1.2011.
144
Deleted words, “hearing aids, spectacles, lasik lazer”.
145
Inserted words, “stents, intraocular lanses ” w.e.f. 27.1.2011.
146
Inserted words, “Respirator, Ventilator” w.e.f. 27.1.2011.
147
Inserted words, “disposables and consumables ” w.e.f 27.1.2011.
148
Inserted words, “etc. ” w.e.f. 27.1.2011.

94
 (i) Cost of spectacles, contact lenses and hearing aids;
149
(ii) [DELETED]
(iii) Expenses of vitamins and tonics unless forming part of
treatment
for injury or disease as certified by the attending Physician &
Institute’s Medical Consultant;
(iv) Charges incurred at Hospital / Nursing Home primarily for
diagnostic, X-ray or Laboratory examinations not consistent
with or incidental to the diagnosis and treatment of the positive
existence or presence of any ailment, sickness or injury, for
which confinement is required at a Hospital/Nursing Home.
150
[(n)] The reimbursement of other 151 [DELETED] 152 [medical expenses]
not covered under these Rules will be reimbursed as per Central
Government Rules.

(o) 153[Advance payment to the following extent can be made to the

employee if so demanded by the hospital/nursing home, for treatment
of major diseases.

(a) Advance demanded by the Nursing Home/Hospital; OR

(b) 90% of entitlement of the concerned employee, whichever is less.]
154
[(p) The expenses incurred on the Periodical Preventive Medical Heath
Check-up for the Regular Employees will be met by the ICSI
Employees’ Medical Hospitalization Trust as per the Preventive
Medical Health Check-up Scheme;

(q) The superannuated employees are entitled for Annual Preventive

Medical Check-up as per the Preventive Medical Health Check-up
Scheme. The expenses incurred by them will be met by the ICSI
Employees’ Medical Hospitalization Trust;

(r) The reimbursement of expenses on such Periodical / Annual

Preventive Medical Check-up for Regular and Superannuated
Employees, respectively, shall be met out of their entitlements under
the category “Minor Diseases” covered under the ICSI Employees’
Medical Hospitalization Trust Rules.]

(s) [The expenses incurred on “Preventive Medical Health Check-up” by

the regular as well as Superannuated Employees shall be 100% met
by the ICSI Employees Medical Hospitalisation Trust under the
category “Minor Disease”.] 155

149
Deleted Clause 7(a) (ii) on 27.1.2011 reading as – “Dental treatment or surgery of any kind unless
requiring hospitalization”.
150 rd
Inserted para 4 (n) vide O/O No. 34/2005 dated 3 June, 2005.
151
Deleted words, “treatments undergone in Hospital/Nursing Home” on 27.1.2011.
152
Inserted words, “medical expenses” w.e.f. 27.1.2011.
153 rd
Inserted para 4 (o) vide O/O No. 34/2005 dated 3 June, 2005
154
Inserted new clause (p) (q) (r) vide office order no. 50/2012 dated 12.4.2012 w.e.f 1.4.2012.
155 th
Inserted vide /O No. 127/2012 dated 15 December,2012.

95
5. RECOGNISED HOSPITALS/NURSING HOMES

The medical aid and reimbursement of expenses under these Rules shall be
admissible only in case of treatment taken from the Government Hospitals/
Central/ State level/ Private Hospitals/ Nursing Homes (with a minimum of
156
[15] beds) registered with Central/State Government/ Government of
Union Territory 157 [DELETED].

6. AMBULANCE CHARGES

a) Ambulance charges for removing the employee or his/her spouse or

their dependent children from residence to the hospital/nursing home or from
hospital/nursing home to residence on discharge from one hospital/nursing
home shall be reimbursed in full.

b) Actual expenses incurred on conveyance by mode other than

ambulance shall be reimbursed subject to the maximum as under:-

i) By public taxi Actual subject to maximum of

158
[Rs. 1,000/-] per trip

ii) By Auto rickshaw Actual subject to maximum of

159
[Rs. 300/- ] per trip

7. GENERAL
160
i) [DELETED]

ii) In the case of 161[DELETED] hospitalization the admission in any

Hospital/Nursing Home for treatment of diseases may be made by the
employee and his/her spouse or their dependent children and the
intimation thereof shall be given by him/her in writing to the Institute at
the earliest opportunity and in any case not later than two working
days from the time of admission.

8. PREFERENCE OF CLAIM

i) The 162 [deleted] claim under these Rules shall be preferred by the
employee, in the prescribed form, supported with the relevant
163
[original] hospital bills, receipt, etc. within 15 164 [fifteen] days of the
completion of the treatment.
156 rd
Substituted for figure “30” vide O/O No. 34/2005 dated 3 June, 2005.
157
Deleted words, “and recognized by the Institute from time to time” on 27.1.2011.
158
Substituted for the figure “Rs. 300/-” w.e.f. 27.1.2011.
159
Substituted for the figure “Rs. 150/-” w.e.f. 27.1.2011.
160
Deleted Clause 9 (i) on 27.1.2011 reading as - “The admission in Hospitals/Nursing Homes for
treatment of diseases as referred in Rule 2(d) shall be made by the employee with the prior approval of
the Medical Board consisting of at least 3 doctors to be constituted by the Institute.”
161
Deleted words, “emergency requiring urgent” on 27.1.2011.
162
Deleted word, “medical” on 27.1.2011.
163
Inserted word, “original” w.e.f. 27.1.2011.

96
 165
ii) [ DELETED ]
166
iii) [ DELETED ]
iv) The payment for the treatment shall be made by the Institute directly
to the Hospital/Nursing Home by way of Cheque/Demand Draft/Cash
provided that in special cases the Institute may at its discretion
reimburse the claim to the employees where he has made the
payment himself and produced the necessary reports/ receipts 167 [in
original].
v) The Institute will have discretion to refuse payment of bills in cases
where it is not satisfied about the genuineness of the claim.

9. The Trust reserves to itself the right to amend, alter, vary, modify, remake,
rescind or add to these rules without previous notice or intention to do so and
the right to give effect thereto from any date which it may deem fit, provided
that if a rule or order which affect any employee(s) adversely is to be given
retrospective effect, suitable protection shall be given to such employees.

164
Inserted word, “fifteen” w.e.f. 27.1.2011.
165
Deleted Clause 10 (ii) on 27.1.2011 reading as - “(ii) The Hospital/Nursing Home bills should be
signed by the concerned specialist and countersigned by the Medical Superintendent of the
Hospital/Nursing Home.”
166
Deleted Clause 10 (iii) on 27.1.2011 reading as – “(iii) The Cash Memos in the case of
medicines/drugs purchased from the chemists other than the Hospital/Nursing Home, must be
authenticated by the specialist of the Hospital/Nursing Home.”
167
Inserted words, “in original” w.e.f. 27.1.2011.

97
 Annexure –I

PREVENTIVE MEDICAL HEALTH CHECK-UP SCHEME

The ICSI Employees Medical Hospitalization Trust shall have an arrangement with
the Escorts Heart Institute & Research Centre with regard to Periodic/ Annual
Preventive Medical Health Check-Up for its regular and superannuated employees,
respectively as per details given below -

Category I-Officials upto the level of 168[Deputy Director] or equivalent grade

Age Group Eligibility Entitlement of Package

Above 35 to 45 years Once in 5 years Package -1 (Annexed)
Above 45 years Once in 4 years -do-
Above 55 years Once in 2 years -do-
Superannuated Once in a year -do-
employees
Category II- 169[Joint Director / Director / Joint Secretary]

Age Group Eligibility Entitlement of Package

Above 35 to 45 years Once in 4 years Package - II (Annexed)
Above 45 years Once in 2 years -do-
Above 55 years Once in a year -do-
After 58 years Once in a year Package - III (Annexed)
Superannuated Once in a year -do-
employees
Category III- 170[Joint Secretary(SG)] and above

Age Group Eligibility Entitlement of Package

Upto 55 years Once in a year Package-II (Annexed)
After 55 years Once in a year Package-Ill (Annexed)
Superannuated Once in a year -do-
employees
Payment with regard to aforesaid Health Check- up will be made / released by the
Trust directly to the Escorts Heart Institute & Research Centre upon receipt of the
bill(s).

Regular Employees eligible under the Scheme & wish to undergo the Periodic
Preventive Health Check-up, may send their request in writing through their
respective Departmental Head to Directorate of HR. As regard to Superannuated
Employees, they may send their request in writing to the Joint Secretary of HR
directly.

168
Substituted for the word “Assistant Director” vide Office Order No. 45/2014 dated 01.04.2014
169
Substituted for the word Deputy Director / Joint Director / Director” vide Office Order No. 45/2014
dated 01.04.2014
170
Substituted for the word ‘Sr. Director’ vide Office Order No. 45/2014 dated 01.04.2014

98
PACKAGE I

 Doctors Consultation and Full Medical Examination

 Examination by Cardiologist
 Complete Haemogram (Hb, TLC, DLC, ESR, Haematocrit,
Peripheral Smear)
 Blood Group (ABO, RH)
 Blood Sugar (Fasting & Post Prandial)
 Blood Urea
 Serum Uric Acid
 Serum Creatinine
 Complete Lipid Profile
 Urine Examination
 X-Ray Chest PA
 ECG
 Post Check-up Consultation

(inclusive of Registration Fee)

PACKAGE II

ALL THE ABOVE PLUS TESTS :

 Exercise Stress Test (TMT)

(inclusive of Registration Fee)

PACKAGE III

 Doctors Consultation and Full Medical Examination

 Examination by Cardiologist
 Haemogram (Hb, TLC, DLC, ESR)
 Blood Group (ABO, RH)
 Blood Sugar (Fasting & Post Prandial)
 Blood Urea
 Serum Uric Acid
 Complete Lipid Profile
 Urine Examination
 X-Ray Chest PA
 Stress Echo

99
 Schedule – E-2

THE ICSI EMPLOYEES’ GROUP GRATUITY

TRUST RULES
(As amended upto 1st April, 2014)

100
 INDEX
SECTION RULE CONTENTS PAGE
NO. NO.
I 1 Definition 102 – 103

2 The Trustees to Act for the Company and 103

Members
3 Eligibility 103 – 104

4 Evidence of Age 104

5 Evidence of Insurability 104

II 6 Contribution & Scheme of Insurance 104 – 105

7 Scheme of Insurance 105

III 8 Benefits on death before normal 106

retirement date
9 Benefits of leaving service 106

10 Payment of Gratuity 107

IV 11-12 Restraint on assignments etc. 107

13 Jurisdiction 107

14 Master Policy 107

15 Income-Tax and other taxes 107 – 108

16 Nomination 108

17 Definition of family 108 – 109

18 Interpretation of Rules 109

101
 THE ICSI EMPLOYEES’ GROUP GRATUITY TRUST RULES

SECTION – I

DEFINITIONS, ELIGIBILITY & REQUIREMENTS FOR MEMBERSHIP

1. DEFINITIONS

In these Rules, where the context so admits the masculine shall include the
feminine, the singular shall include the plural and the following words and
expressions shall unless repugnant to the context, have the following mean-
ings:

(i) “INSTITUTE” shall mean the Institute of Company Secretaries of India

constituted under the Company Secretaries Act, 1980.
(ii) “CORPORATION” shall mean the Life Insurance Corporation of India
established under section 3 of the Life Insurance Corporation Act,
1956.
(iii) “SCHEME OR FUND” shall mean the ICSI Employees’ Group Gratuity
Trust.
(iv) “RULES” shall mean the ICSI Employees’ Group Gratuity Trust Rules
as amended from time to time.
(v) “TRUSTEES” shall mean the Trustees for the time being of the Trust.
(vi) “EMPLOYEES” shall mean permanent employees of the Institute.
(vii) “MEMBER” shall mean an employee who has been admitted to the
membership of the Trust.
(viii) “NOMINEE” shall mean the person nominated by the member to
receive the benefits in the event of his death.
(ix) “EFFECTIVE DATE” in relation to the Trust shall mean the 20th March,
1992 the date as from which the Trust takes effect.
(x) “ENTRY DATE” shall mean (a) in relation to the original members, the
Effective Date and (b) in relation to new Members admitted to the after
the Effective Date, the 1st Day of the month which is co-incident with
or which next follows the date on which they become eligible.
(xi) “ANNUAL RENEWAL DATE” in relation to the Trust shall mean the
20th March and the 20th March in each subsequent year.
(xii) “NORMAL RETIREMENT DATE” shall mean in respect of each
member the date on which he completes the age of 171[60] years.
(xiii) “SERVICE RULES” shall mean the “Institute of Company Secretaries
of India Service Rules, 1979” as amended from time to time.
“SERVICE OR CONTINUOUS SERVICE” shall mean uninterrupted
service but will include service which is interrupted by sickness,
accident leave, lay-off, strike, look-out or cessation of work not due to
any fault of the employee concerned, (but will not include service
rendered as casual, temporary or leave without pay not on me dical
grounds; but will include the period probation).
171
Substituted for the age 58 vide office order no. 76/98 dated 29.10.98

102
 (xiv) “ANTICIPATED SERVICE” shall mean in relation to a Member who
dies while in service before the Normal Retirement Date the service
which he would have completed had he lived upto his Normal
Retirement Date.
(xv) “SALARY” shall mean the Basic Pay plus 172[Grade Pay] and
Dearness Allowance and shall not include any other payment
including other allowances, 173[perquisites], ex-gratia payment,
174
[bonus or commission].

2. THE TRUSTEES TO ACT FOR THE COMPANY AND MEMBERS

The Trustees will act for and on behalf of the Institute of Company
Secretaries of India and members in any matter relating to the Trust and
every act done by agreement made with and notice given to the Corporation
by the Trustees shall be binding on the Company and the members.

3. ELIGIBILITY

a. Gratuity shall be payable for good, efficient and faithful services to a

permanent employee of the Institute who has rendered a continuous service
of not less than five years and on the termination of his employment due to :

i. Discharge or abolition of post;

ii. Permanent incapability on account of bodily or mental infirmity;
iii. Superannuation;
iv. Retirement or resignation;
v. Death or disablement due to accident or disease;
vi. Termination on any ground except on account of dismissal from
service;

PROVIDED that completion of continuous service of five years shall not be

necessary if the termination of the employment is due to death or disablement.

b. The following employees are not eligible:

i. Casual, temporary and probationary employees;

ii. Government servants and others employed on deputation basis;
iii. Employees on contract basis; and
iv. Re-employed persons.

c. All permanent employees who are in the service of the Institute on the
effective date shall join the Trust as from that date. Employees of the
Institute who are not permanent on the effective date and employees
appointed by the Institute after the effective date shall join the Trust on which
they become eligible.

172
Substituted for Dearness Pay w.e.f. 24.05.2010.
173
Inserted vide office order no. 52/10 dated 29.06.2010.
174
Inserted vide office order no. 52/10 dated 29.06.2010.

103
 d. No member shall withdraw from the Trust while he is still an employee
of the Institute.

e. As per the eligibility criteria mentioned in Rule 3(a) above, except in

cases of death or resignation, a member shall be entitled to gratuity at the
rate of fifteen days salary for every completed year of continuous service or
part thereof in excess of six months subject to a maximum amount of 20
months salary last drawn or 175 [Rupees ten lacs], whichever is less.

4. EVIDENCE OF AGE

Evidence of age of every employee satisfactory to the Corporation shall be

furnished before he is admitted to the Trust and the age of the member is
conclusively proved later to have been incorrectly stated in the evidence
submitted, the Corporation shall make appropriate adjustment in the benefits
having regard to its normal practice.

5. EVIDENCE OF INSURABILITY

For the purpose of effecting terms Assurance in respect of the member,

evidence of insurability satisfactory to the Corporation shall be required prior
to the employee’s entry into the Trust and on each occasion when an
increase in sum assured is to be granted.

SECTION – II

6. CONTRIBUTION AND SCHEME OF INSURANCE

There shall be paid by the _____________ either we use the term Institute or
_________to the Trustees in respect of each member the contribution
mentioned in sub-paragraph (i) below annually in advance on the date of
entry of the member into the Trust and on the relevant Annual Renewal
Dates and the contributions mentioned in sub-paragraph (ii) below in one
lump sum on the date of entry or in not more than five annual installments
commencing from the date of entry into the Trust and the Trustees shall pay
the same to the Corporation for providing the gratuity benefits to the
members under a scheme of insurance.

i. Ordinary Annual Contribution : The ordinary annual contribution

shall be such an amount as shall be determined and recommended by
the Corporation for securing the benefits herein before described. The
contribution shall be expressed as a percentage of the salary of each

175
Revised vide office order no. 52/10 dated 29.6.10, Rs. 3.50 lacs to Rs. 7.50 lacs vide office order no.
109/11 dated 24.10.2011 (from 1.1.10 to 23.5.10), from Rs. 2.50 lacs to Rs. 3.50 lacs vide Circular No.
11/99 dated 07.10.2009, from Rs. 1.0 lacs to Rs. 2.50 lacs vide office order no. 8/96 dated 16.1.96.

104
 member and may be varied from time to time on the basis of an
evaluation of the benefits to be made at intervals of not more than five
years. The contributions will be paid throughout the service of the
members unless specified otherwise in the Rules.

ii. Initial Contribution : The Institute may pay any sums by way of initial
contributions in respect of members relating to their past service with
the Institute as shall be determined and recommended by the
Corporation for securing the benefits relating to such past service and
on paying such sums shall advise the Trustees as to their allocation to
all or specified members.

Provided that the contribution payable by the Institute in any year in respect
of any member in terms of sub-paragraph (i) above shall not exceed 8.33%
of the salary, paid to the member during the year and that the initial
contribution referred to in sub-paragraph (ii) above shall not exceed 8.33% of
the salary paid to the member for each year of his past service with the
Institute. Provided further that if the contributions are not sufficient to secure
full benefits as described before, the benefits will be appropriately scaled
down.

7. SCHEME OF INSURANCE

(i) The Trustees shall enter into a scheme of insurance with the
Corporation for providing the benefits to the members. Subject to the
provisions of Rule 5, an assurance will be effected on the life of each
member under One Year Renewable Term Assurance Plan for a sum equal
to the difference between (a) fifteen days’ salary as on the date of entry into
the Scheme or the Annual Renewal Date, as the case may be, for each year
of his Anticipated Service and (b) fifteen days’ salary as on the day/on the
day of entry into the Trust or the Annual Renewal Date as the case may be
for each year of service. Provided that the Corporation may, in the case of
any member restrict the sum assured for which the assurance is to be
effected to a smaller amount on the basis of the evidence of health submitted
in respect of that member. The assurance will be renewed on the Annual
Renewal Dates for appropriate sums assured.

(ii) After appropriating the required amount towards the premium payable
year to year for the life assurance benefit the balance of the contributions
will be held by the Corporation in a running account for the credit of the
Trustees. The Corporation will allow interest on the balance remaining in
the running account for each financial year ending 31st March at a rate to
be determined by the Corporation at the close of the year.

(iii) When gratuity becomes payable to a member on his retirement or

cessation of service, or to his Nominee in the event of his death, the
Corporation shall forthwith pay to the Trustees the benefits payable
according to the Rules out of the balance remaining in the running account
and under the Term Assurance.

105
 SECTION – III

BENEFITS

8. BENEFITS ON DEATH BEFORE NORMAL RETIREMENT DATE

a) Upon the death of a member while in service before Normal

Retirement Date, the benefit payable will be equal to fifteen days’
salary as on the day of death for each year of his Anticipated Service,
PROVIDED that in respect of a member for whom the Term
Assurance effected in terms of Rule – 7 is insufficient to provide the
above stated benefits, the benefits payable will be equal to the total of
:
(i) The sum assured under the Term Assurance on the date of death;
and
(ii) Fifteen days’ salary for each year of service upto the date of death.
b) In respect of a member for whom life cover has not been granted to
the full extent, the benefits payable be equal to the total of:
(i) The sum assured under the Term Assurance on the date of
death; and
(ii) Fifteen days’ salary for each completed year of service upto the
date of death.

9. BENEFITS OF LEAVING SERVICE

Upon a member leaving the service of the Institute of his own free will after
completion of five years of continuous service the benefits payable will be
equal of fifteen days’ salary as on the day of leaving service for each year of
continuous service or part thereof in excess of six months service. The
member will not be entitled to any benefits if he leaves the service before
completing five years of continuous service.

PROVIDED that wherever a member leaves the services of the Institute and
joins the services of any employer who is created by any Act of Parliament or if
Legislature or Central or State Government or Government Company as
defined under the Companies act, the amount of gratuity already earned by the
member, irrespective of number of years of service rendered by him will be
transferred to the new employer if the new employer agree to accept such
amount.

PROVIDED further that wherever a member, joins the services of the Institute
after leaving the services of any employer who is created by any Act of
Parliament or State Legislature, Central Government or State Governments or
the Government Company as defined under the Companies Act, the Institute

106
 will accept the transfer and the amount of gratuity already earned by him under
his previous employer.

10. PAYMENT OF GRATUITY

The gratuity payable in respect of any member under the Trust will be paid in a
lump sum.

SECTION – IV

MISCELLANEOUS PROVISIONS

11. RESTRAINT ON ASSIGNMENTS ETC

The benefits assured under the Trust are strictly personal and cannot be
assigned, charged or alienated in any way.

12. Except as provided in these Rules, no member or his Nominee shall have
any legal claim, right or interest in the Trust. PROVIDED ALWAYS THAT the
Trustees shall administer the Trust for the benefit of the members and their
Nominees in accordance with the provisions of these Rules.

13. JURISDICTION

The Master Policy issued under the Trust shall be an Indian contract subject
to the Laws of India including the Income-Tax Act, 1961, the Payment of
Gratuity Act, 1972 and to any legislation subsequently introduced. All
benefits under the Scheme shall be payable only in India. Should anything
contained in these Rules, or in any amendment made thereof be repugnant
to any provision or provisions of the Income-Tax Act, 1961 or the Income-Tax
Rules, 1962, it shall be ineffective to the extent of such repugnance. Any
such repugnance shall be removed by the Trustees if so directed by the
Commissioner of Income-Tax.

14. MASTER POLICY

The Corporation will issue a single Master Policy to the Trustees to Provide
for the benefits to the members under the Scheme.

15. INCOME-TAX AND OTHER TAXES

(a) In any case where the Corporation or the Trustees are liable to account to
the Income-Tax authorities for Income-Tax on any payment made under the
Rules, the Corporation or the Trustees as the case may be shall deduct a
sum equal to such tax from any such payment made and shall not be liable
to the members for the sum so deducted.

107
 (b) If the Gratuity Fund and Trust for any reason cease to be approved by the
Commissioner of Income-Tax, the Trustees shall nevertheless remain liable
to tax on any benefits paid to any members of his Nominee.

16. NOMINATION

(a) Every member shall make a nomination conferring on one or more

persons the right to receive the benefits hereunder in the event of his death
before the benefits become payable. Such a nomination shall be made
according to the form given in the Appendix.

(b) If a member nominates more than one person under clause (a) above,
he shall, in his nomination, specify the amount or share payable to each of
the nominees in such manner as to cover the sole of the amount of gratuity
that may be payable in the event of his death.

(c) Where a member has a family at the time of making a nomination, the
nomination shall be in favour of one or more persons belonging to his family.
Any nomination made by such member in favour of a person or persons not
belonging to his family shall be invalid.

(d) If, at the time of making a nomination, the member has no family, the
nomination may be in favour of any person or persons but if the member
subsequently acquires a family, such nomination shall forthwith be deemed
to be invalid and the member shall make a fresh nomination in favour of one
or more persons belonging to his family.

(e) A nomination made by a member, at any time, be modified by him

after giving a written notice to the Trustees of his intention of doing so. If the
nominee predeceases the member the interest of the nominee shall revert to
the member, who may thereupon make a fresh nomination.

(f) A nomination or its modification shall take effect to the extent it is valid
on the date on which it is received by the Trustees.

(g) If a Nominee is not appointed and the member does not leave the
family, then the benefits shall lapse to the Trust.

17. FOR THE PURPOSE OF THIS RULE “FAMILY” MEANS

(i) in the case of a male employee, himself, his wife, his children, whether
married or unmarried, his dependent parents and the dependent parents
of his wife and the widow and children of his predeceased son, if any;

(ii) in the case of a female employee, herself, her husband, her children,
whether married or unmarried, her dependent parents and the dependent

108
 parents of her husband and the widow and children of her predeceased
son, if any.

EXPLANATION: Where the personal law of an employee permits the

adoption by him of a child any child lawfully adopted by him shall be deemed
to be included in his family and where a child of an employee has been
adopted by another person and such adoption is, under the personal law of
the person making such adoption lawful, such child shall be deemed to be
excluded from the family of the employee.

18. INTERPRETATION OF RULES

It shall be a condition of membership of the trust that on any point of

interpretation of these Rules or any point relating to admission of new
members and cessation of membership, the decision of the Trustees shall be
final. If the decision has any bearing of the provisions of Part C of the Fourth
Schedule of the Income-Tax Act, 1961 or the Rules made thereunder it shall
be forthwith reported to the Commissioner of Income-Tax and if the
Commissioner of Income-Tax as requires, the Trustees shall review the
decision.

109
 Schedule – E-3

ICSI
EMPLOYEES’
PROVIDENT FUND

RULES
AND
REGULATIONS
(As amended upto 1st April, 2014)

110
 INDEX
Rule No. CONTENTS Page No.
1. Name 113
2. Commencement 113
3. Definitions 113
4. Member 114
5. Object of the Fund 114
6. Management of the Fund 115
7. (i) Member’s contribution 115
(ii) Additional contribution 115
(iii) Employer’s contribution 115-116
8. Interest Account 116
9. Administration and Control of the Fund 116-117
10. Maintenance of Trust’s Funds 117
11. Available Funds to be invested 117
12. Annual statement to each member 117
13. Abstract of Individual Accounts 117
14. Payment from Fund 117
15. Payment on death of a member 118
16. Repayment of member’s own contribution 118
17. Payment of employer’s contribution 118-119
18. Payment of interest on contributions 119
19. Dismissal for grave misconduct 119
20. Utilization of forfeiture 120
21. Member’s right to own subscription 120
22. Member right to Institute’s contribution 120-122
23. Withdrawals from the Fund 122-124
24. Limits for withdrawals 124
25. Second withdrawal 124
26. Repayments of amount withdrawn 125
27. Interest on withdrawals 125
28. Closing of member’s account 126
29. Nominations 126
30. Annual accounts 126-127
31. Assignment and Transfer of member’ interest 127
32. Procedure in case Member’s interest has been 127
assigned
33. Indemnification of Trustees 127
34. Closing of the Fund 127
35. Issue of certificate relating to balance amount 127
36. Power to make new rules 127-128

111
 APPENDICES

Form A Form of Agreement 129

Form B Statement of Account of Individual Members 130-131

Form C Form of Nomination 132-133

Form D Form of Modification of Nomination 134-135

112
 RULES AND REGULATIONS OF INSTITUTE OF COMPANY
SECRETARIES OF INDIA EMPLOYEES’ PROVIDENT FUND

1. Name

The Fund shall be called the Institute of Company Secretaries of India

Employees’ Provident Fund.

2. Commencement

These regulations shall come into force on 1st May, 1972.

3. Definitions

(a) In these rules, unless there is something repugnant to the subject or

context, “Institute” means the Institute of Company Secretaries of
India.
(b) “Council” means the Council for the time being of the Institute of
Company Secretaries of India.
(c) “Trustees” means the Trustees of the Fund for the time being as
hereinafter provided.
(d) “Secretary” means the Secretary of the Institute and includes Deputy
or an Assistant Secretary or any other person acting as Secretary by
the direction of the Council.
(e) “Fund” means the Provident Fund constituted hereunder.
(f) “Member” means any person in the service of the Institute who is a
subscriber to the Fund.
(g) “Salary” or “Pay” means the basic monthly salary and 176[Grade] pay
received by each employee from the Institute, and does not include
any acting, officiating or personal allowances or other remuneration
whatever, uncertain an amount or derived by any employee by any
means, outside his basic salary and 177[Grade] pay.
(h) “Employers” means the Institute of Company Secretaries of India
having their Head Office at Delhi and shall include their successors
and assignees.
(i) “Service” means continuous service and the test, whether service is
continuous, is the payment to an employee of a salary continuously
during the period of service, and dates from the beginning of each
employee’s service.

PROVIDED that an employee who is granted leave on loss of pay

shall not thereby be considered as having broken continuity of his
service.

176
Deleted the word “Dearness” upon implementation revised pay scale vide office order no. 17/09 dated
27.02.2009.
177
Deleted the word “Dearness” upon implementation revised pay scale vide office order no. 17/09 dated
27.02.2009.

113
 In the case of an employee, who may have left the service of the
Institute for any reason, and has been subsequently re-appointed, his
service will be reckoned only from the date of his re-appointment.
178
(j) [“Month” means a calendar month and “Year” means a period of 12
months commencing on 1st day of April and ending on 31st day of
March next year.]
(k) “Employee” means a whole-time salaried employee of the Institute.
(l) “Family” means the member, member’s spouse, legitimate children,
step children, parents, sisters and minor brothers who are wholly
dependent on the member.

4. Member

(i) Every employee of the Institute in the whole-time and permanent

service of the Institute as on 2.12.1991, and every employee who will
so join the service of the Institute on or after that date shall become a
member of the fund 179[the day] he joins the service of the Institute,
and shall be subject to these Rules and Regulations.
(ii) Every member, who had been a member of a recognized Provident
Fund prior to his joining the service of the Institute, shall on joining the
Institute, have an option for getting the accumulated balance lying at
the credit of his Provident Fund account with the previous employer,
transferred to this Fund.

PROVIDED that the employer’s contribution towards his Provident Fund

Account shall commence only from 180[the day] he joins the service in the
Institute.

(iii) Every such employee who shall become a member shall sign a
declaration of agreement to comply with the Rules as set forth in the
Form “A”.
181
(iv) [For the purpose of withdrawal of the contribution from the Fund,
the period of membership of the Fund would count from the date he or
she was a member of the recognized Provident Fund prior to his/her
joining the Institute provided he/she has transferred the accumulated
balance lying at the credit of his/her PF Account with the previous
employer to this Fund.]

5. Object of the Fund

The object of the fund shall be to provide every employee, who is a member,
with a sum of money the amount of which will be ascertainable according to
these Rules, on the termination of his service with the Institute.

178
Substituted w.e.f. 1.8.90. Prior to substitution the Rule 3(j) stood as under: “Month means Calendar
Month & Year means a Calendar Year both according to English calendar”.
179
Substituted for (completion of three calendar months continuous service) w.e.f. 2.12.91 & the words
“completion of three months” were substituted for “completion of 12 months” w.e.f. 1.8.90.
180
Substituted for (completion of three calendar months continuous service) w.e.f. 2.12.91 & the words
“completion of three months” were substituted for “completion of 12 months” w.e.f. 1.8.90.
181
Inserted Clause (4) w.e.f.1.4.99.

114
6. Management of the Fund

The Fund shall be irrevocable Trust for the benefit of the Members thereof,
managed by the Trustees, whose decision with reference to all matters and
questions arising under or out of these Rules, so long as that decision does
not involve a revocation of the Trust hereby constituted, shall be final and
binding on all members or their representatives and the employers.

7. Member’s Contribution

(1) Every member shall contribute to the Fund as regular contribution an

amount representing 182[twelve percent] of the salary or pay as defined in
Rule 3(g) payable to him, fraction of a rupee less than 50 paise being dis-
regarded and fraction of a rupee equal to or exceeding 50 paise being
regarded as one rupee.

Such contribution shall be deducted from the salary of each member at the
time of payment thereof and shall be paid over by the Employers to the
Trustees of the Fund who shall credit the same to the individual account of
the Member as his/her contribution to the Fund.

Contribution of a member on leave or furlough shall be calculated on the

salary allowed to him during such leave or furlough and be paid over to the
Trustees of the Fund by the Employer No. Member shall contribute to the
Fund while on leave without salary or wages.

Additional Contribution

(2) It shall be open to a member to pay additional contribution to his

provident fund which shall be a definite amount. In such an event, the
aggregate sum of employee’s regular and additional contribution shall not
exceed his 183[salary] drawn during the year. In respect of such additional
subscriptions, no contributions shall be payable by the employers under sub-
clause (3) below.

Such option shall be expected either at the time of becoming member of the
Fund or by 20th 184[March] to be effective from the salary payable from
185
[April] next year. No change in the option will be allowed during the course
of the financial year.

Employer’s Contribution

(3) The Employers shall contribute to the Fund monthly an amount equal to
the regular contribution of each member for that month no exceeding

182
Substituted for “one-tenth” w.e.f. 22.9.97.
183 th
Substituted for “1/5 ” w.e.f. 11.4.97.
184
Substituted for “December” w.e.f. 1.8.1990.
185
Substituted for “January” w.e.f. 1.8.1990

115
 186
[twelve percent] of his salary which shall be credited to the Member’s
individual account in the Fund.

8. Interest Account

(1) (a) The Trustees shall as on 31st 187[March] of each year, prepare an
account of the total interest received and accrued on the invested
amounts of the Fund after adding all profits earned on the sale of
investments and deducting any loss to the Fund on the sale or in
consequences of any depreciation of investments during such year.

(b) After meeting such expenses as are not covered in Rule 20 hereof,
interest at such rate as the Trustee may decide subject to a minimum
rate of 4% per annum shall be credited to the individual account of each
member on 31st 188[March] each year proportionately for the actual period
of deposit at his credit.

(c) All surplus income not allocated for payment of interest as provided
herein be transferred to a separate account called “INTEREST
RESERVE A/c”, which may be utilized for distribution of interest to the
members as may be decided by the Trustees of the Fund.

(2) The account of each member shall show separately (1) the amount of the
Members’ contributions and the proportionate amount of interest earned
thereon and (2) the amount of the Employer’s contributions and the
proportionate amount of interest earned thereon.

9. Administration and Control of the Fund

(1) The Fund hereby constituted shall vest in the Trustees and their
successors in office irrevocably in Trust in accordance with the Deed of Trust
hereinafter forwarded. The Fund shall be held and managed by the Trustees
for the time being in accordance with these Regulations. The provisions of
Part A of the Fourth Schedule to Income Tax Act, 1961 and the Rules made
under Part XII of the Income-tax Rules, 1962 in respect of Recognized
Provident Funds shall prevail and apply hereto. In case of any discrepancy or
repugnance between the said provisions and Rules and these Regulations,
except for the purposes of amendment of these regulations, the majority of
Trustees may exercise all the powers of the Trustees. Any resolution passed
by circulation and signed by all the Trustees for the time being in India shall
be as valid and effective as a resolution duly passed at a regularly convened
meeting of the Trustees. All matters relating to or connected with the Fund,
the management or the administration and control thereof or the rights and
obligations of the Members and their heirs, executors, legal representatives
and nominees hereunder, shall be vested in Trustees and their, decision
thereon shall be final and binding on the Employers and Members and their
heirs, executors, legal representatives and nominees.

186
Substituted for “one-tenth” w.e.f. 22.9.97.
187
Substituted for “December” w.e.f. 1.8.1990.
188
Substituted for “December” w.e.f. 1.8.1990.

116
 (2) There shall be three Trustees, one of whom shall be a person nominated
by the Council from time to time, another elected from employees
contributing to the Fund and the third, the Secretary of the Institute.

The first such Trustees appointed under these rules were as under:

1. Mr. Onkar Nath, Council Member

2. Mr. T. P. Subbaraman, Secretary and
3. Mr. N. S. Santhanam, Administrative Officer

10. Maintenance of the Trust Fund

All moneys of the Provident Fund shall be kept deposited and / or invested in
the manner prescribed under Rule 67 of the Income Tax Rules, 1962 in the
name of the Institute of Company Secretaries of India Employees Provident
Fund and shall be dealt with in accordance with these rules and such
accounts shall be operated on the authority and signature of any two
Trustees.

11. Available funds to be invested

DELETED

12. Annual Statement to each Member

A statement of Account of each member as on 31st 189[March] of each year

shall be prepared as in Form “B”. Each member shall be required to certify in
writing that the amount shown therein is correct.

13. Abstract of Individual Accounts

An abstract for the year ended 31st 190[March] of each year of the individual
account of each employee participating in the Provident Fund in respect of
whom a return is required to be furnished under sub-rule (4) of Rule 35 of the
Income-tax Rules, 1962, shall be furnished by the Trustees to the Income-tax
Officer specified in Sub-rule (2) of Rule 32 not later than the 15th day of June
in each year or any other subsequent date fixed by the Income-tax Officer, it
shall be in Form No. 41 prescribed under sub-rule (2) of Rule 74 of the
Income-tax Rules, 1962, but shall show only the totals of the various columns
thereof for the accounting year. It shall also give an account of any
temporary withdrawals by the employee during the year and of the
repayment thereof.

14. Payment from Fund

No member shall be entitled to claim payment of any money out of the Fund
except as provided under these rules.

189
Substituted for “December” w.e.f. 1.8.1990.
190
Substituted for “December” w.e.f. 1.8.1990.

117
15. Payment on Death of a Member

On the death of a member who shall have made a nomination in accordance

with Rule 29(i), the full amount standing to his credit according to these rules
shall be paid to the duly appointed nominee or nominees irrespective of the
membership period of such member. In the absence of such nomination, the
Trustees shall pay such amount either to his executors or administrators or
holder of succession certificate or to his widow or one or more of the issues
or such other relation or relations as the Trustees shall think fit in their
absolute discretion.

Any such payment shall be a complete and valid discharge by the Fund and
by the Trustees in respect of such member’s share and interest in the Fund.

16. Repayment of Members own contribution

Any member on his leaving the employment or on the termination of his

services with the Institute shall be entitled to receive the total amount of his
own contributions to the Fund standing to the credit of his individual account
as at the date of such termination and interest thereon in accordance with
these Rules.

17. Payment of Employer’s contribution

191
(1) [A member leaving the services of the Institute or on termination of
his services with the Institute shall be entitled to receive the full share
of employer’s contribution and interest thereon irrespective of his
period of membership in the fund].
(2) In the event of a member permanently leaving the services of the
Institute and becoming a member of any other provident fund
recognized under the Income-tax Act, the accumulated balance due to
him from this fund may, at his option, be transferred, without forfeiture
of any percentage of the contribution of the employers and interest
thereon, to the other fund of which he subsequently becomes a
member, for credit to his account, provided it is permissible under the
Rules and Regulations of that fund.

18. Payment of Interest on contributions

If any member retires from the fund during the course of a year, interest shall
be credited on his contributions at a rate provided in Rule 8 from the
commencement of that year upto the last date of the month preceding the

191
Substituted w.e.f. 2.12.1991. Prior to substitution the Rule 17(1) stood to mean that an amount to be
paid to an employee at the time of his leaving the services of the Institute was specified for no. of years of
membership.

118
 month in which the actual payment is made. Any member leaving the
services of the Institute shall have to exercise an option within a period of 90
days from the date of leaving the services, whether or not he wants to get the
accumulations of the provident fund transferred to the other provident fund
under Rule 17(2). In case no option is received by the Trust within the
stipulated period of 90 days, the provident fund account will be settled
according to the provisions of Rules 16 and 17(1) within a period of 180 days
from the date of employee’s leaving the services, by giving him credit on
account of interest at a rate allowed for the previous year and no interest
would be credited to the provident fund account of such member after the
said period of 180 days.

19. Dismissal for grave misconduct

(1) If any member is dismissed for misconduct, he shall be entitled to

receive ONLY the amount of his own contributions to the Fund and the
interest accrued thereon and shall not be entitled to the Employer’s
Contribution and the interest thereon.
(2) The Council shall have absolute discretion to waive forfeiture of the
members’ interest in the Institute’s contribution and the income
derived there from if this concession is, in their opinion, justified.

20. Utilisation of forfeiture

Subject to the provisions of these rules, all lapses and forfeitures occurring at
any time shall be transferred to a separate account to be called “THE LAPSE
AND FORFEITURE A/c” and shall be used and applied by the Trustees
primarily for meeting the necessary expenses of the Fund for such purposes
in connection with the Fund and in such manner as the Trustees may in their
absolute discretion think fit.

Provided that after meeting the expenses for the purposes connected with
the Fund, the amount at credit in the said Lapses and Forfeiture Account
shall be available for expenditure on welfare of the members in the following
circumstances to the extent indicated in such cases or for any other
purposes connected with the welfare of the members as the trustees shall in
their absolute discretion think fit:

(a) Where a member dies while in service, ad-hoc payment of a sum not
exceeding Rs. 192[5000] or one month’s salary, whichever is less, may be
paid to the nominee(s)/heirs of the deceased member.

(b) Any member may be paid an amount not exceeding Rs. 193[2000] in case
involving prolonged illness and/or full or partial disablement.

192
Substituted for Rs. 2,000 w.e.f. 1.4.1999.
193
Substituted for Rs. 1,000 w.e.f. 1.4.1999.

119
21. Members right to own contribution

A member’s contribution to the Fund and the amount credited to his account
as income earned thereon shall be his property funded for his benefit, and
shall not be forfeited under any circumstances except as may be provided by
law.

22. Member’s right to Institute’s contribution

A member’s interest in the contribution made by the Institute to the fund does
not commence until he/she retires from the service of the Institute and he/she
qualifies for admission to the benefit of the Institute’s contribution under
these rules.

23. Withdrawals from the Fund

The Trustees shall have power at their discretion to permit withdrawals by

members for any of the following purposes, that is to say:

(a) to pay expenses incurred in connection with the illness of the member or
a member of his family;

(b) meeting the cost of higher education including where necessary, the
travelling expenses of any child of the member actually dependent on him
in the following cases, namely:

(i) educational outside India for academic, technical, professional or

vocational courses beyond the 194[matriculation] stage;
(ii) any medical, engineering or other technical, specialised courses in
India beyond the 195[matriculation] stage;

(c) to pay for the cost of passage to a place out of India of the member or
any member of his family;

(d) to pay expenses in connection with marriages. Funerals or ceremonies

which by the religion of the member it is incumbent upon him to perform;

(e) to pay premia on policies of insurance on the life of the members or of his
wife provided that the policy is assigned to the Trustees of the Fund or at
their discretion deposited with them and that the receipts granted by the
Insurance Company for the premia are from time to time handed over to
the Trustees for inspection by the Income-tax Officer.
196
(f) To meet the expenditure on building a house, or purchasing a site or a
house and a site 197[Deleted]198[by any employee member of the Trust]

194
Substituted for “High School” w.e.f. 1.2.1991.
195
Substituted for “High School” w.e.f. 1.2.1991.
196
Substituted w.e.f. 1.2.1991. Prior to its substitution Rule 23(f) stood as under:

120
 and also on additions, substantial alterations or improvements necessary
to a house.

Provided that the employee furnishes undertaking to the trustees not to

encumber or alienate such house or site (or such house and site) or
house and site, as the case may be:

Provided further that 199[Deleted], such house or site or such house and
site shall not be deemed to be an encumbered property merely because
such house or site or such house and site is:

(i) mortgaged, solely for having obtained funds for the purchase of
the said house or site or the said house and site or for the
building of such house to any of the following agencies,
namely, (a) the Central Government; (b) a State Government;
(c) a Co-operative Society, being a society registered or
deemed to be registered under the Co-operative Societies Act,
1912, or under any other law for the time being force in any
State relating to Co-operative societies; (d) an institution; (e) a
trust; (f) a local body; or (g) a housing finance corporation; or
(h) housing board; (i) Nationalized Banks; (j) Life Insurance
Corporation; or (k) other financial institution(s) owned or
controlled by Central/State Government; or

(ii) held in the name of any of the aforesaid agencies and the
member is precluded from transferring or otherwise disposing
of that house or site or that house and site without the prior
approval of such agency.]

(g) to meet the expenses on the damage caused to the movable or

immovable property of the employee as a direct result of flood, cyclone,
earthquake or other convulsion of nature.

(h) 200[to meet the cost of legal proceedings instituted by the member for
vindicating his position in regard to any allegations made against him in
respect of any act done or purporting to be done by him in the discharge
of his official duty or to meet the cost of his defence when he is
prosecuted by the employer in any court of law in respect of any official
misconduct on his part;

“to meet the expenditure on building, a dwelling house, or purchasing a dwelling house and/or site for
dwelling or on additions, substantial alterations or improvements necessary to the house”.
197
Deleted the words “in case of employee whose pay does not exceed rupees Fifteen thousand per
month” vide office order no. 108/11 dated 24.10.11. Prior to rupees fifteen thousand per month – rupees
two thousand five hundred per month w.e.f. 01.04.99.
198
Inserted words vide office order No. 108/11 dated 24.10.11.
199
Deleted words “in the case of an employee whose pay does not exceed rupees fifteen thousand per
month” vide office order no. 108/11 dated 24.10.11. Prior to Rs. 15,000/- per month, Rs. 2,500/- per
month w.e.f. 01.04.99.
200
Inserted new clause w.e.f. 1.2.91.

121
 PROVIDED that the advance under this clause shall not be admissible to
a member who institutes legal proceedings in any court of law either in
respect of any matter unconnected with his official duty or against the
employer in respect of any condition of service or penalty imposed on
him.

(i) to meet the cost of purchasing an equipment required by a physically

handicapped member which will minimize his hardship on account of the
handicap.]

24. Limits for withdrawals

(1) The non refundable withdrawals in connection with the expenses on

marriages as specified in clause (d) of Rule 23 shall be least of the
following:

The amount equivalent to 75% of the member’s own contribution and

interest thereon lying to the credit of the member or 201[Rs. 2.00 lacs]
whichever is less.

(2) The withdrawal for any other purposes referred to in clauses (a) to (c),
202
[(d)] (e) (g) and (i) of Rule 23 shall not exceed 203[three months’ pay] or
the total of the accumulation of exempted contribution and exempted
interest lying to the credit of the employees, whichever is less.

(3) The withdrawal for the purpose specified in Rule 23(f) by any employee
204
[Deleted] shall be subject to the following conditions]:
205
(i) [The amount of withdrawal shall not exceed :

(a) the basic pay and grade pay of the employee for thirty six
months; or
(b) the actual cost of building the house or of purchasing the
house and / or site; or
(c) employee’s contribution to the fund together with specified
percentage of the employer’s contribution to the fund with
interest thereon; whichever is less;

Explanation : For the purpose of sub-clause (c) “specified

percentage” means :

(1) 50% of the employer’s contribution forming part of the

accumulation as on the date of the authorization of

201
Substituted for Rs. 1 Lacs w.e.f. 18.06.04 and prior to substitution - “six months pay ” w.e.f
10.09.1998.
202
Inserted clause (d) to meet expenses in connection with funerals or ceremonies.
203
Substituted for Rs. 2500 per month w.e.f. 1.4.99.
204
Deleted the words “whose pay exceeds (fifteen thousand per month) vide office order dated
24.10.2011 prior to fifteen thousand it was Rs. 2500/- w.e.f. 1.4.99.
205
Substituted for the words “the amount of withdrawal shall not exceed one-half of the amount standing
to the employee’s credit or the actual cost of the house and/or of the site, whichever is less”.

122
 payment, if the period of membership of the employee in the
fund is five years or more, but less than ten years;
(2) 60% of such contribution, if the period of membership of the
employee in the fund is 10 years or more but less than 15
years; and
(3) 75% of such contribution, if the period of membership of the
employee in the fund is 15 years or more;

PROVIDED that a withdrawal for additions, substantial

alterations or improvements necessary to the house owned by
the employee or jointly owned by the employee and the spouse
may be granted once and in one installment only upto 12
months’ basic pay and grade pay or the employee’s own share
of contribution with interest thereon or the amount standing to
his credit in the fund, whichever is less.

PROVIDED further that the said withdrawal for additions,

substantial alterations or improvements, shall be admissible
only after a period of five years from the date of purchase or
completion of the house.]
206
(ii) the employee shall have completed [five] years of service or
is due to retire within the next ten years;

(iii) the construction of the house should be commenced within six

months of the withdrawal and should be completed within one year
from the date of the commencement of the construction.

(iv) if the withdrawal is made for the purchase of a house and/or a

site for a house, the purchase should be made within six months of
the withdrawal;

(v) if the withdrawal is made for the repayment of loan previously

raised for the purpose of construction or purchase of a house, the
repayment of the loan should be made within three months of the
withdrawal;

(vi) where the withdrawal is for the construction of a house, it shall

be permitted in two or more equal instalments (not exceeding four), a
later instalment being permitted only after verification by the trustees
about the actual utilization of the earlier withdrawal;

(vii) the withdrawal shall be permitted only if the house and/or site is
free from encumbrances and no withdrawal shall be permitted for
purchasing a share in a joint property or building or house or land
whose ownership is divided;

206
Substituted for “ten” w.e.f 24.10.2011.

123
 (viii) 207[where the amount withdrawn is not utilized in whole or in part
for the purpose for which it was withdrawn, the excess or the whole
amount, as the case may be, shall be refunded to the trustees
forthwith in one lump sum together with interest from the month of
such withdrawal at the rate prescribed in Rule 27 and the amount so
refunded shall be credited to the employee’s account in the fund.]

(4) 208[The withdrawal for the purpose specified in clause 23(h) shall not
exceed three months pay or Rs.500 whichever is greater, but shall in no case
exceed half the amount to the credit of the employee.]

25. Second withdrawal

A second withdrawal shall not be allowed until the sum first withdrawn has
been fully recovered excepting in the case of non- repayable withdrawal
allowed under clause (e) and (f) of Rule 23 above.
209
[25(a) Notwithstanding anything contained in Rule No. 23 to 25 of the
Fund, it shall be opened to the Trustees of the Provident Fund to permit at
any time within 12 months before the date of retirement or superannuation of
the member, the withdrawal of upto ninety percent of the amount standing at
the credit of the member.]

26. Repayments of amounts withdrawn

(1) Subject to the provisions of clause (viii) of Sub-rule (3) of Rule 24,
where a withdrawal is allowed to pay permia on policies of insurance under
clause (e) of Rule 23 and to meet expenditure on building a house or
purchasing a house and/or site under clause (f) of Rule 23, the amount
withdrawn need not be re-paid.

(2) Deleted w.e.f. 1.4.99.

(3) Where the withdrawal is allowed for any other purpose, the amount
withdrawn shall be repaid in not more than 210[thirty six] equal monthly
installments.

(4) In respect of withdrawals referred to in clauses (2) and (3) and in

respect of clause (4), where the loan is repaid, from the date of repayment of
each amount interest shall be paid in accordance with Rule 27.

207
New para inserted in substitution to Rule 24(viii) (sub-clause (i) to (viii))
208
Inserted w.e.f. 1.8.90.
209
Inserted new clause 25(a) as per approval of Commissioner of Income Tax vide letter no. CIT-
11/amendment /2003-04/1236 dated 1.10.03.
210
Substituted for the words “twenty four month” w.e.f. 17.12.04 vide circular no. 4/05 dated 2.5.05.

124
27. Interest on withdrawals
In respect of withdrawals referred to in Rule 26,interest shall be paid in
accordance with the following table

TABLE
___________________________________________________________

Where the amount is repaid in not One additional instalment of 4% on

More than 12 monthly instalments the amount withdrawan.

Where the amount is repaid in more Two additional instalments of 4% on

Than 12 but not more than 24 monthly the amount withdrawn.
instalments.

Where the amount is repaid in more Three additional instalments of 4%

Than 24 but not more than 36 monthly on the amount withdrawn.
instalments

Where the amount is repaid in more Four additional instalments of 4% on

Than 36 but not more than 48 monthly the amount withdrawn/
instalments

The Trustees may, however, on the direction of the Council, recover interest
on the amount aforesaid or the balance thereof outstanding from time to time
at 1 per cent above the rate which is payable for the time being on the
balance in the Fund at the credit of the member.

28. Closing of Member’s Account

A subscriber’s account shall be closed –

(i) On the day after the date of his death;

(ii) On the day he quits services of the Institute. When a member’s account
is closed, such amount if any, as may be decided by the Trustees shall be
added in respect of portion of the year since 211[31st March] preceding.

No further consideration and interest shall be credited in respect of any

period subsequent to that date.

(iii) In the event of a member permanently leaving the service of the Institute
and becoming a member of any other provident fund recognized under the
Income-tax Act, the accumulated balance due to him from this fund may, at
his option, be transferred to the other fund of which he subsequently
becomes a member, for credit to his account, provided it is permissible under
the rules and regulations of that fund.

211
Substituted for December w.e.f. 1.8.90.

125
29. Nominations

(1) Each member shall make a nomination in writing as in Form “C”

conferring the right on his nominee or nominees to receive the amount that
may stand to his credit in the fund in the event of his death, before that
amount becomes payable, or having become payable, has not been paid.
(2) If a member nominates more than one person under sub-rule (i), he
shall, in his nomination, specify the amount or share payable to each of the
nominees in such a manner as to cover the whole of the amount that may
stand to his credit in the Fund.
(3) Where a member has a family at the time of making a nomination, the
nomination shall be in favour of one or more persons belonging to his family.
Any nomination made by such member in favour of a person not belonging to
his family shall be invalid.
(4) If at the time of making a nomination, the member has no family, the
nomination may be in favour of any person or persons but if the member
subsequently acquires a family, such nomination shall forthwith be deemed
to be invalid and the member shall make a fresh nomination in favour of one
or more persons belonging to his family.
(5) A nomination made by a member may, at any time, be modified by
him after giving a written notice to the Trustees of his intention of doing so in
Form”D”. such notice will automatically cancel the previous nomination.

If the nominee predeceases the member, the interest of the nominee shall
revert to the member who shall thereupon make a fresh nomination in
respect of such interest.
(6) A nomination or its modification shall take effect to the extent that it is
valid on the date on which it is received by the Trustees.

30. Annual accounts

The accounts of the Fund shall be made up yearly as on 31 st 212[March].

31. Assignment and Transfer of Members interest in the Fund

(1) The amount standing to the credit of any member in the Fund shall not
in any way be capable of being assigned or charged and shall not be liable to
attachment under any decree or order of any Court in respect of any debt or
liability incurred by the member and neither the official assignee appointed
under the Presidency-Towns Insolvency Act, 1909, nor any receiver
appointed under the Provincial Insolvency Act, 1920, shall be entitled to, or
have any claim on any such amount.
(2) Any amount standing to the credit of a member in the Fund at the time
of his death and payable to his nominee under the rules of the Provident
Fund shall, subject to any deduction authorized by the said rules, vest in the

212
Substituted for December w.e.f. 1.8.90.

126
 nominee and shall be free from any debt or other liability incurred by the
deceased or the nominee before the death of the member.

32. Procedure in case Member’s interest has been assigned

DELETED

33. Indemnification of Trustees

The Institute shall hold every Trustee indemnified against all proceedings,
costs and expenses occasioned by any claim in connection with the Fund not
arising from his negligence or fraud.

34. Closing of the Fund

The Fund shall not be closed except in the case of the Institute of Company
Secretaries of India being wound up. In the event of winding up of the
Institute, the fund shall be closed and the moneys effects etc. thereof shall be
divided amongst the members then existing by payment to each of them a
sum which shall bear the same proportion to the aggregate market value or
proceeds of the securities and uninvested cash then constituting the fund as
he amount then standing to the credit of the member in his individual account
bears to the aggregate of the amounts, then standing to the credit of the
individual accounts of all such members.

35. Issue of certificate relating to balance amount

In all cases wherein a certificate shall be required of the amount of the

balance standing in the books of the Fund to the credit of a deceased
member for the purpose of obtaining free of stamp duty a grant of probate or
letters of administration r for any other purpose such certificate shall inter alia
show whether thee is any nomination or its modification which shall take
effect to the extent there it was valid on the date it was received by the
Trustees.

36. Power to make new Rules

(1) All matters or procedure and all ancillary matters not herein
specifically provided for and requiring the framing of rules shall be regulated
by such rules as the Trustees may from time to time make in that behalf, with
the approval of the Council.
(2) The Trustees shall have power at all times, subject to the approval of
the Council and the Commissioner of Income Tax, to alter any of the
regulations contained in these presents for the time being relating to the
Fund and make new rules in modification or substitution of the rules for the
time being in force.
(3) While framing rules or altering them, regard shall be had to the
following:
(i) They shall always be in consistent with provisions of Part A to the
Fourth Schedule to Income-tax Act, 1961 and rules made thereunder.

127
(ii) They shall not affect the irrevocable nature of the Trust or make the
property or income of the Fund in any case or under any circumstance revert
to the Institute.
(iii) They shall not have retrospective effect so as to affect adversely the
rights existing on the date of alteration in respect of the sums then at the
credit of the member’s accounts.
(iv) No rules, or any modification thereof, shall take effect, unless they
have been approved by the Commissioner of Income Tax having jurisdiction
over the fund.

128
 Form “A”

THE INSTITUTE OF COMPANY SECRETARIES OF INDIA

EMPLOYEE’S PROVIDENT FUND

FORM OF AGREEMENT – RULE 4(iii)

I hereby declare that I have read the Rules of Institute of Company

Secretaries of India Employees’ Provident Fund, and that I agree to be
bound by them and by any subsequent additions to and alterations in the
same as may from time to time hereafter be made in pursuance of Rule 36
of the said Rules.

Dated this_______________day of _________________20_____

Name in Full: _________________________________________

Date of Birth: _________________________________________

Date of Joining Services: ________________________________

Date of Joining Fund: __________________________________

Signature: ___________________________________

Witness(1) ___________________________________

Witness(2) ___________________________________

129
 Form “B”

THE INSTITUTE OF COMPANY SECRETARIES OF INDIA

EMPLOYEES’ PROVIDENT FUND
(As prescribed in Rule 12)

Statement showing the sums standing to the credit of Mr./ Ms _________ employed
as____________issued solely for his information.

Account No:____________Folio Number of Account _______________

__________________________________________________________
Particulars Contributions Interest Total
Regular Additional

__________________________________________________________

Member’s contribution and

Interest standing to his/her
Credit on 31st March 20___
As per last memo ___________________________________

Member’s contribution and

Interest credited during the
Year 20___ ___________________________________

Institute’s contribution and

Interest standing to the credit
of member on 31st March, 20__ as per last memo ______________

Institute’s contribution and

Interest credit during the Year 20 ______________________________

Total amount (gross) at the

credit on 31st March 20____ ___________________________________

130
Outstanding balance as on
31st March, 20________ ___________________________________

Outstanding balance as on
31st March 20__ ____________________________________

Non-Repayable withdrawal,
Temporary withdrawal and
Interest thereon______ __________________________________

_________________________________________________

Note: (i) This Memo cannot be hypothecated or used in any way as

being a security to a third party.

(iii) The name(s) of the nominee(s) as at present registered

is/are________________

New Delhi,

Date: Secretary

_________________________________________________________

Certified that the amount shown above as standing to my credit on 31st

March, 20___is correct.

New Delhi,

The _________________day of _____________20___

(Signature)

131
 FORM “C”

THE INSTITUTE OF COMPANY SECRETARIES OF INDIA

EMPLOYEES’ PROVIDENT FUND, NEW DELHI

Form of Nomination prescribed in accordance with Rule 29(1)

No.

Folio No.

The Trustees of the Institute of Company

Secretaries of India Employees’ Provident Fund
“ICSI House”
22, Institutional Area
Lodi Road,
New Delhi – 110 003

I,_______________________________________________________
(NAME OF THEMEMBER IN BLOCK LETTERS)
s/o/d/o/w/o Shri/Smt._______________________________________
in the service of the Institute of Company Secretaries of India hereby
nominate the persons mentioned below to receive the amount that may
stand to my credit in the provident fund in the event of my death before that
amount has become payable or having become payable, and has not been
paid, direct that the said amount shall be distributed among the said persons
in the manner shown against their names:

Name and Relationship Age of the If the **Amount or

Address of each nominee(s) nominee is a Share of
of nominee minor, state accumulations
Nominee with the the name in the
or member of the Provident Fund
Nominees guardian and to be paid to
the each nominee
relationship
with the
member
1 2 3 4 5

Certified that my marital status is___________ (State whether unmarried,

married or widow/widower).

*Certified that I have no family as defined in the explanation under clause 6

of the Trust Deed and should I acquire a family hereafter, the above
nomination should be deemed as cancelled.

132
**Certified that my father/mother/sister(s)/minor brother(s) is/are dependent
upon me.

Signature of member_______________

Date : __________________________

Address__________________________

WITNESSES:

(1) Signature _________________

Name and Address_________________

(2) Signature _________________

Name and Address_________________

* Delete the inapplicable words/certificate(s)

**This column should be filled in so as to cover the whole of the amount that
may stand to the credit of the member in the provident fund at any time.

Note: If a member wishes to revoke/modify the above nomination, he must cancel

the same and make a fresh nomination as in form ‘D’.

133
 FORM “D”

THE INSTITUTE OF COMPANY SECRETARIES OF INDIA

EMPLOYEES’ PROVIDENT FUND, NEW DELHI

Form of modifying previous Nomination prescribed in accordance with Rule

29(5)

No.

Folio No.

The Trustees of the Institute of Company

Secretaries of India Employees’ Provident Fund
“ICSI house”
22, Institutional Area
Lodi Road,
New Delhi -110 003

I,_________________________________________________________
(NAME OF THE MEMBER IN BLOCK LETTERS)
s/o/d/o/w/o Shri/Smt. ________________________________________
employed as____________________________ in the service of the Institute
of Company Secretaries of India hereby cancel the nomination made by me
previously as regards the disposal of the amount that may stand to my
credit in the provident fund in the event of my death before that amount has
become payable or, having become payable, has not been paid, and direct
that the said amount shall be distributed among the said persons in the
manner shown against their names:

Name Relationship Age of the If the nominee **Amount or

and of each nominee(s) is a minor, state Share of
Address nominee the name accumulations in
of with the of the guardian the Provident
Nominee member and the Fund to be paid to
or relationship with each nominee
Nominees the member
1 2 3 4 5

Certified that my marital status is________________________(State

whether unmarried, married or widow/widower)

*Certified that I have no family as defined in the explanation under clause 6

of the Trust Deed and should I acquire a family hereafter, the above
nomination should be deemed as cancelled.

**Certified that my father/mother/sister(s)/minor brother(s) is/are dependent

upon me.

134
 Signature of member____________________

Date ________________________________

Address______________________________

WITNESSES:

(1) Signature_____________________

Name and Address_____________

(2) Signature_____________________

Name and Address_____________

* Delete the inapplicable words/certificate(s)

**This column should be filled in so as to cover the whole of the amount that
may stand to the credit of the member in the provident fund at any time.

Note: If a member wishes to revoke/modify the above nomination also, he

must cancel the same and make a fresh nomination again as in this FORM.

135
 Schedule - E-4

ICSI EMPLOYEES’ PENSION

FUND TRUST RULES
(As amended upto 1st April, 2014)

136
 ICSI EMPLOYEES PENSION
FUND TRUST RULES

PART I

PRELIMINARY

1. SHORT TITLE AND COMMENCEMENT

(I) These Rules may be called the ICSI Employees Pension Fund Trust Rules,
19931 as amended from time to time.

(II) These Rules shall come into force w.e.f. first day of November 1993.

2. APPLICATION

These Rules shall apply to the eligible Employees of the Institute of Company
Secretaries of India who are in service as on first day of January 1988.

3. DEFINITIONS

In these Rules unless excluded by or repugnant to the context:

(a) “The Rules” shall mean the rules herein contained and any amendment
thereof for the time being in force.

(b) “Amendment” shall mean and include alteration, deletion, rescission,

addition, change or variation.

(c) “Institute” shall mean the Institute of Company Secretaries of India

constituted under the Company Secretaries Act, 1980.

(d) “Council” shall mean the Council of the Institute. 213

(e) “President” shall mean the President of the Council.

(f) “Service Rules of the Institute” shall mean “The Institute of Company
Secretaries of India Service Rules, 1979” as amended from time to time.

(g) “Appointing Authority” shall mean the authority as defined under the Service
Rules.

213
[Amended vide Office Order No. 94/97 dated 08.08.1997
Amended vide Circular No. 12/99 dated 07.10.1999
Amended vide Circular No. 18/2010 dated 20.12.2010]

137
(h) “Employee” shall mean an individual presently or prospective as whole time
salaried Employee of the Institute.

(i) “Family” shall mean the Employee and his/her spouse. (j) “Commissioner”
shall mean the Commissioner of Income Tax having jurisdiction over the Fund.
(k) “Fund” shall mean ICSI Employees’ Pension Fund.

(l) [Effective from 01.01.2006, “Emoluments” shall mean the Basic Pay Plus
Grade Pay which an Employee was receiving immediately before his/her
retirement or on the day of his/her death while in service or on termination of
employment.] 214

(m) [-----------------] 215

4. GENERAL CONDITIONS

214
Substituted w.e.f. 01.04.2010 vide Circular No. 18/2010 dated 20.12.2010. Prior to substitution, rule
3(l) read as under:

[“Emoluments” shall mean the Basic Pay which an Employee was receiving immediately before his
retirement or on the day of his death while in service or on termination of employment.]
215
Omitted w.e.f. 01.04.2010. Prior to its omission, it read as under:

[“Average Emoluments” shall mean average emoluments as determined with reference to the
emoluments drawn by an Employee during the last ten months of his service.

Note 1 If an Employee, immediately before his/her retirement or death while in service, has been on
leave for which salary is payable or having been suspended, had been reinstated without forfeiture of
service, the emoluments which he would have drawn had he not been absent from duty or suspended,
shall be taken into account for determining the average emoluments.

Note 2 Where an Employee immediately before his/her retirement or death while in service had
proceeded on leave for which salary is payable after having held a higher appointment on probation, the
benefit of emoluments drawn in such higher appointment shall be given only if it is certified that the
employee would have continued to hold the higher appointment but for his proceeding on leave.

Note 3 If an Employee immediately before his retirement or death while in service had been absent from
duty on extraordinary leave or had been under suspension the period whereof does not count as service,
the emoluments which he draws immediately before proceeding on such leave or being placed under
suspension shall be the emoluments for the purpose of this rule.

Note 4 If an Employee immediately before his retirement or death while in service, was on earned leave
and earned an increment which was not withheld, such increment though not actually drawn shall form a
part of his emoluments.

Note 5 If during the last ten months of his service, an Employee had been on leave for which salary is
payable or having been suspended had been reinstated without forfeiture of service, the emoluments
which he would have drawn had he not been absent from duty or suspended, shall be taken into account
for determining the average emoluments.

Note 6 If during the last ten months of his service, an employee had been on extra-ordinary leave or had
been under suspension, the period whereof does not count as service, the aforesaid period of leave or
suspension shall be disregarded in the calculation of average emoluments and equal period before the
ten months shall be included.

Note 7 In the case of an Employee who was on earned leave during the last ten months of his service
and earned an increment which was not withheld, such increment, though not actually drawn shall be
included in the average emoluments.]

138
 (a) Regulation of claims to Pension: Any claim to pension shall be regulated
by the provisions of these Rules in force at the time when an Employee retires
or is discharged or is allowed to resign from service or dies, as the case may
be.

(b) Pension subject to future good conduct: Future good conduct shall be an
implied condition of every grant of pension and its continuance under these
Rules.

(c) Right of Council to withhold or withdraw Pension: The Council reserves the
right of withholding or withdrawing a pension or part thereof, whether
permanently or for a specific period, and of ordering recovery from a pension
of the whole or part of any pecuniary loss caused to the Institute, if in any
departmental or judicial proceedings, the pensioner is found guilty of grave
misconduct or convicted of a serious crime during the period of his/her service
which could lead to dismissal of the Employee from the services of the
Institute.

Provided further that where a part of pension is withheld or withdrawn, the

amount of such pension shall not be reduced below the amount of [Rs.1800/-
(Rupees Eighteen Hundred only) per month.]216

5. QUALIFYING SERVICE

(a) Commencement of Qualifying Service: The qualifying service of an

Employee commences from the date he/she takes charge of the post in the
Institute including the service rendered by such Employee with the dissolved
company immediately before the commencement of the Company Secretaries
Act, 1980 and the service is followed without interruption by permanent
appointment in the same or another post.

(b) Conditions subject to which service qualifies

(i) The service of an Employee shall not qualify unless his/her duties and
pay are regulated by the Council or under conditions determined by the
Council.

(ii) For the purpose of sub-rule (i) the expression service means service in
the Institute and paid by the Institute from its sources (Funds)

(c) Counting of qualifying service:

(i) On Probation: Service on probation against a post if followed by

confirmation in the same or another post, shall qualify.

216
Substituted w.e.f. 01.04.2010 vide Circular No. 18/2010 dated. 20.12.2010. Prior to its substitution,
limit given in Rule 4(c) read as under:- [w.e.f. 01.11.1993, Rs. 160 (Rupees One Hundred Sixty only) per
month w.e.f.14.05.1996,Rs. 400 (Rupees Four Hundred only) per month w.e.f. 01.04.1999, Rs. 640
(Rupees Six Hundred Forty only) per month]

139
 Adhoc service if followed by regular appointment without any break shall
qualify.

(ii) As apprentice or casual: Service as an apprentice or casual shall not qualify

for the purpose of “Qualifying Service”.

(iii) Periods spent on leave: All leave during service for which salary is payable
and all extra-ordinary leave duly granted – (i) on medical certificate, (ii) due to
inability of the Employee to join or re-join duty on account of civil commotion or
(iii) for pursuing higher studies as may be specified by the Institute, shall count
as qualifying service.

(iv) Periods spent on training: The period spent by an Employee under training
if followed by appointment on to a regular post shall count as qualifying
service.

(v) Periods of suspension: The period during which an Employee is held under
suspension pending inquiry into conduct, shall count as qualifying service
where, on conclusion of such enquiry, he/she has been fully exonerated or the
suspension is held to be wholly unjustified. In other cases, the period of
suspension shall not count unless the authority competent to pass orders
under the service rules of the Institute, expressly declares at that time that it
shall count. If an Employee dies while under suspension, the entire period of
suspension shall count as qualifying service.

(vi) Periods of lay-off, strike and lock-out: The period of lay-off, strike and lock
out shall not count as qualifying service unless decided otherwise by the
Council.

(d) Forfeiture of service on dismissal or removal: Dismissal or removal of an

Employee from the service entails forfeiture of his/her past services.

(e) Counting of past service on reinstatement

(i) An Employee who is dismissed, removed or compulsorily retired from

service, but is reinstated on appeal or review, is entitled to count his/her past
service as qualifying service.

(ii) The period of interruption in service between the date of dismissal, removal
or compulsory retirement, as the case may be and the date of reinstatement
and the period of suspension, if any, shall not count as qualifying service
unless regularized as duty or leave by a specific order of the authority which
passed the order of reinstatement.

(f) Effect of interruption in service

(1) An interruption in the service of an Employee entails forfeiture of his/her past

service, except in the following cases:

(i) Authorised leave of absence

140
 (ii) Unauthorized absence in continuation of authorized leave of absence so
long as the absentee is allowed to join back his/her regular service

(iii) Suspension, where it is immediately followed by re-instatement, whether

in the same or a different post, or where the Employee dies or is permitted to
retire or is retired on attaining the age of superannuation while under
suspension

(iv) The period of absence of an Employee between the date of

dismissal/removal/ compulsory retirement and the date of reinstatement
when the Employee is reinstated on appeal or review.

(2) Notwithstanding anything contained in sub-rule(1), the appointing authority

may, by order, commute retrospectively the periods of unauthorized absence as
extra-ordinary leave but the period will not count as qualifying service.

(g) Weightage in qualifying service: [Clause (g) of rule 5 shall cease to operate
effective from 01.04.2010]217

(h) Date of termination of Service

Service terminates:

(i) In the case of retirement on superannuation, on the afternoon of the last

day of the month in which an Employee attains the age of [60 years] 218

(ii) In the case of voluntary retirement, on the day prior to the date of
retirement;

(iii) In the case of disablement, on the day prior to the date of relief on
disablement. If disabled while on leave, on the date of expiry of that leave or
extension of leave duly granted;

(iv) In the case of death of an Employee while in service, the date of

retirement should be taken as the date following the date of death;

(v) In the case where an Employee has been granted extension of service,
the date of retirement should be taken after the end of the period of
extension; and

(vi) In the case of retirement after leave, on the last day of leave preparatory

217
w.e.f. 01.04.2010 Rule 5(g) ceased to operate vide Circular No. 18/2010 dated 20.12.2010. Prior to its
cessation, it read as under: [An employee may retire from service voluntarily at any time after completion
of 20 years qualifying service or after attaining the age of 55 years. In both the cases, he is eligible for the
addition to the qualifying service actually rendered by him, upto a maximum of five years subject to the
condition that (i) the total qualifying service after allowing weightage should not exceed thirty three years;
(ii) the number of years added should not take him beyond the date of superannuation.]
218
Substituted w.e.f. 29.10.1998, vide Office Order No. 76/98 dated 29.10.1998. Prior to its substitution, it
read as [“58 years”]

141
 to retirement.

(vii) [Rounding of fraction of a year: Effective from 01.04.2010, in case of

retirement/death while in service taking place, the fraction of a year in the
qualifying service shall be reckoned in the following manner:

Fraction of a year Number of completed six monthly

periods (Half Year)

Less than 3 months Nil

3 months and above but 1 (One)
less than 6 months
6 months and above 2 (Two)

Examples:

1. The period of 30 years 2 months and 10 days will be reckoned as 30 years

(fraction of the year being less than three months ignored)

2. The period of 30 years 3 months and 10 days will be reckoned as 30 ½

years (fraction of the year being not less than 3 months but less than 6
months taken as one half year)

3. The period of 30 years and 6 months will be reckoned as 31 years

(fraction of the year being not less than 6 months taken as two half yearly
periods, i.e., one year).] 219

6. CASES OF PENSIONS AND CONDITIONS COVERING THEIR GRANT

(a) Superannuation pension: A superannuation pension shall be granted to an

Employee who has put in a minimum of 10 years qualifying service in the
Institute and retires on his/her attaining the age of compulsory retirement.

(b) [Retiring Pension: Effective from 01.04.2010, a retiring pension shall be

granted to an Employee who retires on his/her attaining the age of 55 years after
completing at least 10 years of qualifying service or is retired in advance of the

219
Substituted w.e.f. 1.4.2010 vide Circular No. 18/2010 dt. 20.12.2010. Prior to its substitution, rule
5(h)(vii) with examples read as: [Rounding of fraction of a year: In case of retirement/death while in
service taking place, the fraction of a year in the qualifying service shall be reckoned in the following
manner:
Fraction of a year Number of completed six monthly periods (Half
Year)
Less than 3 months Nil
3 months and above but less than 9 1 (One)
months
9 months and above 2 (Two)

Examples: 1 The period of 30 years 2 months and 10 days will be reckoned as 30 years (fraction of the
year being less than three months ignored) 2. The period of 30 years 3 months and 10 days will be
reckoned as 30 ½ years (fraction of the year being not less than 3 months but less than 9 months taken
as one half year) 3. The period of 30 years 9 months and10 days will be reckoned as 31 years (fraction of
the year being not less than 9 months taken as two half yearly periods, i.e., one year).]

142
age of compulsory retirement on completion of 20 years of qualifying service or
on attaining the age of 55 years, whichever is earlier, or seeks voluntary
retirement on completion of 20 years of qualifying service.] 220

(c) Disablement pension (i) Disablement pension may be granted if an

Employee retires from the service on account of any bodily or mental infirmity
which permanently incapacitates him from the service. The requirement of
minimum qualifying service shall not be applicable in such cases but the actual
number of years of qualifying service at the time of relief on account of
disablement will be taken for the purpose of pension. (ii) An Employee applying
for a disablement pension shall submit a medical certificate of incapacity from
the medical authority as specified by the Institute.

7. REGULATION OF NOTICE FOR RETIREMENT

(a) At any time after an Employee has attained the age of 55 years or
completed 20 years of qualifying service:

(i) he/she may retire from service, or

(ii) he/she may be required by the appointing authority to retire in the Institute’s
interest.

Provided that

(1) an Employee shall give notice in writing to the appointing authority at least
three months before the date on which he/she wishes to retire; and

(2) the appointing authority may also give a notice in writing to the Employee at
least three months before the date on which he/she is required to retire in the
Institute’s interest or three months pay and allowances in lieu of such notice.

Provided further that where an Employee giving notice under clause

(a) of the preceding proviso is under suspension, it shall be open to the

appointing authority to withhold permission to such Employee to retire under this
rule.

(b) The Employee referred to in clause (a) of the sub-rule (1) may make a
request in writing to the appointing authority to accept notice of less than three
months giving reasons therefor. On receipt of the request, the appointing
authority may consider such request for the curtailment of the period of notice of
three months on merits and if it is satisfied that the curtailment of the period of

220
Substituted w.e.f. 01.04.2010, vide Circular No. 18/2010 dated 20.12.2010. Prior to its substitution,
Rule 6(b) read as under:- [Retiring Pension: A retiring pension shall be granted to an employee who
retires on his attaining the age of 55 years after completing at least 10 years of qualifying service or is
retired in advance of the age of compulsory retirement on completion of 33 years of qualifying service or
seeks voluntary retirement on completion of 20 years of qualifying service, which shall be increased by a
period not exceeding 5 years as applicable in the case of Central Government employees but the total
qualifying service shall not exceed 33 years.]

143
notice will not cause any administrative inconvenience, appointing authority may
relax the requirement of notice of three months.

(c) An Employee who has elected to retire under this rule and has given the
necessary intimation to that effect to the appointing authority, shall be precluded
from withdrawing his/her election subsequently except with the specific approval
of such authority:

Provided that the request for withdrawal shall be within the intended date of
his/her retirement.

8. AMOUNT OF PENSION AND PROCEDURES FOR DETERMINATION

AND PAYMENT OF AMOUNT OF PENSION

(a) [Effective from 01.04.2010, the amount of pension shall be determined @

25% of the emoluments last drawn subject to a maximum of Rs. 22500 (Rupees
Twenty Two Thousand Five Hundred only) per month or such higher amount as
may be determined by the Council from time to time excluding dearness relief,
as applicable.

In the case of pensioners in receipt of pension as on 31-12-2005, the basic

pension shall be re-fixed at 25% of the minimum of pay in the pay band plus
grade pay corresponding to the pre-revised pay scale from which the pensioner
had retired.

Provided that the pension payable to the existing pensioners i.e. prior to the
revision in the “Employees Pension Fund Trust Rules” effective from 01.04.2010
shall be protected, i.e., in no case the amount of the existing pension including
dearness relief of any pensioner shall be reduced.] 221

[Further, the old age pensioners/family pensioners of 80 years and above shall
be entitled for the following additional quantum of pension w.e.f 01.04.2012.

Age of Pensioners / Family Additional Quantum of Pension

Pensioners
From 80 years to less than 85 20% of revised basic pension/ family
years pension
From 85 years to less than 90 30% of revised basic pension/ family
years pension
From 90 years to less than 95 40% of revised basic pension/ family
years pension

221
Substituted w.e.f. 01.04.2010 vide Circular No. 18/2010 dated 20.12.2010. Prior to its substitution, the
limits under Rule 8(a) were as under:
[w.e.f. 01.11.1993, the amount of pension shall be determined @ 50% of the average emoluments,
subject to maximum of Rs. 1500 per month excluding dearness relief, as applicable or such higher
amount as may be determined by the Council from time to time.
w.e.f. 14.05.1996, 50% of the average emoluments subject to maximum of Rs. 2500 per month
w.e.f. 01.04.1999, the amount of pension shall be determined on the under-mentioned basis
(i) Average Emoluments upto Rs. 8,000 50%
(ii) For balance over and above Rs.8,000 25%
subject to a maximum of Rs. 4,000 per month excluding dearness relief as applicable or such higher
amount as may be determined by the Council from time to time.]

144
 From 95 years to less than 100 50% of revised basic pension/ family
years pension
100 years or more 100% of revised basic pension

]222

(b) The amount of pension arrived at on the basis of the above scale will be
related to the maximum qualifying service of 33 years. For an Employee, who, at
the time of retirement, have rendered qualifying service of ten years or more (no
minimum qualifying service in the case of disablement pension) but less than 33
years, the amount of his/her pension will be such proportion of the maximum
admissible pension as the qualifying service rendered by him/her bears to the
maximum qualifying service of 33 years.

[In the case of the Employees retiring on or after 01.04.2010, the amount of
pension arrived at on the basis of the above scale will be related to the
maximum qualifying service of 20 years. For an Employee, who, at the time of
retirement, have rendered qualifying service of ten years or more (no minimum
qualifying service in the case of disablement pension) but less than 20 years, the
amount of his/her pension will be such proportion of the maximum admissible
pension as the qualifying period of service rendered by him/her bears to the
maximum qualifying service of 20 years. The minimum amount of pension shall
be [Rs. 1800/- (Rupees One Thousand Eight Hundred only)] 223 per month.] 224
2
(c) The amount of pension finally determined shall be expressed in whole
Rupees and where the pension contains a fraction of a Rupee, it shall be
rounded off to [next ten Rupees] 225

(d) Dearness Relief

[Dearness Relief, if made applicable, after taking into account the Pension
Rules of the Central Government, may be granted for the purpose of pension
under this Scheme.] 226

222 th
Inserted vide o/o no. 134/2012 dated 28 December,2012
223
The minimum of amount of pension excluding dearness relief shall be w.e.f. 01.11.1993, Rs. 160
(Rupees One Hundred Sixty only) per month. w.e.f. 14.05.1996, Rs. 400 (Rupees Four Hundred only)
per month w.e.f. 01.04.1999 Rs. 640 (Rupees Six Hundred Forty only) per month]
224
Inserted w.e.f. 01.04.2010 vide Circular No. 18/2010 dated 20.12.2010.
225
Substituted w.e.f. 01.04.2010 vide Circular No. 18/2010 dated 20.12.2010. Prior to substitution, it read
as under: [next higher Rupee.]
226
1 [Amended w.e.f. 14.05.1996 vide Office Order No. 94/97 dated 08.08.1997

(i) Pension drawn Upto Rs. 1000 p.m. Rs. 100

(ii) Pension drawn from Rs. 1001 to Rs. 1500 p.m. Rs. 200
(iii) Pension drawn from Rs. 1501 to Rs. 2000 p.m. Rs. 250
(iv) Pension drawn from Rs. 2001 to Rs. 2500 p.m. Rs. 300

Amended w.e.f.. 01.04.1999 vide Circular No. 12/99 dated 07.10.1999

1st Year (F.Y. 1999-00) Nil
2nd Year(F.Y. 2000-01) 5% of the pension last drawn
3rd Year(F.Y. 2001-02) 10% of the pension last drawn

145
[The sub-rule shall cease to operate with effect from 01.04.2010 save as may be
necessary for the purposes of proviso to Rule 8(a).

With effect from 01-04-2011 Dearness Relief @ 5% of basic pension or at the

rate announced by the Central Government, whichever is less, shall be paid
every year]227 However, [with effect from 01-04-2014 Dearness Relief @ 7.5%
of basic pension or at the rate announced by the Central Government,
whichever is lower, shall be paid every year.] 228

9. FAMILY PENSION
In the case of death of an Employee either in service or after retirement, the
family pension shall be payable to the spouse of the Employee for life time. In
case remarriage of spouse, the pension will be payable only upto the date of
such remarriage. The amount of family pension will be restricted to 50% of the
amount of pension (excluding dearness relief) last drawn by the Employee or
eligible to draw before his/her death. The minimum amount of family pension
shall be Rs. 900/- (Rupees Nine Hundred only) and a maximum of Rs. 11250/-
(Rupees Eleven Thousand Two Hundred Fifty only) per month (excluding
dearness relief). The requirement of minimum qualifying service shall not be
applicable in the case of death of an Employee while in service.] 229

10. MANNER OF PAYMENT

(a) Pension fixed at monthly rate shall be payable monthly on or after the first
day but before the seventh day of the following month.
(b) Once the Employee is relieved from the services of the Institute, the pension
shall be payable during the life time of the Employee and thereafter to his/her
family in accordance with Rule 9.

4th Year onwards (F.Y. 2002-03 onwards) 15% of the pension last drawn (subject to a minimum of Rs.
100/- p.m. starting from 2nd year & onwards)

Amended w.e.f 01.04.2003 vide Circular No. 2/2003 dated 06.01.2003

F.Y. 2003-04 30% of Pension

F.Y. 2004-05 40% of Pension
F.Y. 2005-06 50% of Pension].
227
Inserted w.e.f. 01.04.2010 vide Circular No. 18/2010 dated 20.12.2010.
228
Revised w.e.f. 01.04.2014 vide Office Order No. 68/2014 dated 09.05.2014.
229
Substituted w.e.f. 01.04.2010 vide Circular No. 18/2010 dated 20.12.2010. Prior to its substitution,
Rule 9 read as under:

[Family Pension: In the case of death of an employee either in service or after retirement, the pension
shall be payable to the spouse of the Employee for a maximum period of 12 years from the date of death
of the employee or the date of superannuation, whichever is earlier. In case of remarriage of the spouse,
the pension will be payable only upto the date of such remarriage. The amount of family pension will be
restricted to 50% of the amount of pension (including dearness relief) last drawn by the employee or
eligible to draw before his/her death. The minimum amount of pension (including dearness relief) shall be
Rs. 160/- (Rupees One Hundred Sixty only) per month. The requirement of minimum qualifying service
shall not be applicable in the case of death of an employee while in service.

Revised w.e.f. 14.05.1996 – Rs. 400/- (Rupees Four Hundred only) per month vide Office Order No.
94/97 dated 08.08.1997.

Revised w.e.f 01.04.1999 – Rs. 640/-(Rupees Six Hundred & Forty only) per month vide Circular No.
12/99 dated 07.10.1999].

146
11. PROCEDURE FOR DETERMINATION AND PAYMENT OF AMOUNT OF
PENSION

The amount of pension shall be determined, sanctioned and paid in accordance

with the procedures formulated and approved.

MISCELLANEOUS

12. INTERPRETATION

In all cases of doubts, clarifications, interpretations, etc. the pension rules as

applicable to the Central Government Employees may be taken into account as
guidelines and made applicable as notified by the Institute.

13. POWER TO RELAX

Where the operation of any of these rules causes undue hardship in any
particular case, the Council shall be empowered to relax provisions to such
extent and subject to such exceptions and conditions as it may consider
necessary for dealing with the case in a just and equitable manner.

14. REPEAL AND SAVING

These Rules can be amended and altered at any time by the Council with
specific stipulation regarding applicability to Employees before and after such
amendments.

15. DRAWAL OF PENSION FROM OTHER SOURCES

An Employee who is in receipt of pension from his/her previous employer before

joining the Institute may continue to receive the same and his/her past service
will not qualify for pension in the Institute. His/her eligibility to pension under
these Rules will be governed taking into account the period of service rendered
in the Institute.

16. COMMUTATION OF PENSION

(a) A Pensioner shall be eligible to commute his/her pension after medical

examination, if applicable for a lumpsum payment a fraction not exceeding
[40%]230 of his/her monthly pension (excluding dearness relief). While sending
application in the prescribed proforma for commutation of pension, the pensioner
should indicate the portion of pension which he/she desires to commute. The
Employee/Pensioner against whom departmental/judicial proceedings are
pending shall not be eligible for commutation. If fraction of pension to be
commuted results in fraction of a Rupee, such fraction will be ignored for the
purpose of commutation. Family Pension cannot be commuted.

230
[Revised w.e.f. 01.04.1999 vide Circular No. 12/99 dated 07.10.1999 from one-third].

147
(b) Medical Examination is not required for commutation

(i) where the applicant is authorized a superannuation/ retiring pension and

he/she applies for commutation before the expiry of one year from the date of
his/her retirement;

(ii) where a pensioner is granted pension on finalization of

departmental/judicial proceedings and he/she applies for commutation before
the expiry of one year from the date of his/her retirement.

(c) Medical examination by appropriate medical authority as may be decided by

the Institute is required for commutation, where

(i) an Employee retires on disablement pension; or

(ii) The category of pensioners referred to in sub-rule (b) above, apply for
commutation after one year from the date of their retirement.

(d) Commutation becomes absolute and payable on

(i) the date following the date of retirement, where an Employee retiring on
superannuation/voluntary retirement submits an application for commutation
of monthly pension before the date of retirement. However, the commuted
value of pension will not be paid if he/she dies before the date of
superannuation/retirement or forfeits claim to pension before such date.

(ii) the date on which the application for commutation of pension is received
in the Institute in the case of pensioners falling under sub-rule (b) above.

(iii) the date on which the medical authority signs the medical report in the
case of pensioners falling under sub-rule (c) above

(e) The lumpsum payable on commutation will be calculated and adopted by an

office order of the Institute after taking into account the basis of the formula and
the Table of Values prescribed and as applicable to the Central Government
Employees from time to time and in force on the date on which commutation
becomes absolute. Existing Value Table annexed. The amount of commuted
value of pension as finally calculated will be rounded off to the next higher
Rupee.

(f) The reduction in the amount of monthly pension on account of commutation

will become operative from the date of release of payment of the commuted
value of pension to the applicant.

(g) The applicant is required to make a nomination in the prescribed form along
with the application for commutation, conferring on one or more persons the
right to receive the commuted value of pension, in case he/she dies without the
commuted value on or after the date on which the commutation become
absolute. If there is no such nomination, the commuted value is payable to
his/her legal heirs as may be decided by the Institute.

148
(h) Dearness Relief as admissible to the Pensioner will be calculated on the
original amount of monthly pension even after commutation of a portion of the
pension.

(i) Pensioners are entitled to have the commuted portion of pension restored on
the expiry of 15 years from the date of retirement.

17. ALIVE CERTIFICATE

Pensioners/Family Pensioners are required to furnish a certificate as per format

given in APPENDIX I, as on 1st April of every year, latest by 10th April.

PART II
ADMINISTRATION

1. (a) The number of Trustees shall not be less than three nor more than five.
At any meeting of the Trust, two Trustees present in person shall form a
quorum.

(b) A Trustee may retire at any time, on giving notice in writing to other Trustees
on his desire to do so, and the office of a Trustee shall be vacated if a Trustee
shall permanently leave India, or by reason of his/her illness or infirmity shall, in
the opinion of the other Trustees, become incompetent or incapable of acting. It
a Trustee is in employment of the Institute, his/her trusteeship will cease on the
cessation of his/her services with the Institute.

(c) The power of appointing a new Trustee shall be vested in the Institute which
shall, subject to the provision of sub-rule (a) hereof be entitled to appoint new
Trustees either in addition to the existing Trustees or in place of the Trustees
who shall have died, vacated office or retired, for the purpose of facilitating the
administration of the Fund. Likewise, the Institute shall have the power to
remove the existing Trustee or Trustees and appoint new Trustee or Trustees.
On every such appointment of a new Trustee or Trustees, the funds of the Fund
shall, ipso facto, vest in the continuing and the new Trustee or Trustees.

(d) The Chairman of the meeting of the Trustees shall be nominated by the
Institute from amongst the Trustees. If at any meeting, the Chairman be not
present within five minutes after the time appointed for holding the same, the
Trustees present may choose one of their Members to be the Chairman of the
meeting.

(e) The Trustees may, subject to the provisions of the Rules, meet for the
dispatch of business, adjourn and otherwise regulate their meetings and
proceedings and make such other regulations for the transaction of the business
of the Fund as they shall think fit.

(f) Questions arising at any meeting shall be determined by a majority of votes,

each Trustee present being entitled to one vote and in case of equality of votes,
the Chairman shall have a second or casting vote.

149
(g) A resolution in writing signed by a majority of the Trustees for the time being
in India, being not less than two shall be as valid and effective as a resolution
passed at a meeting of the Trust duly convened and held.

(h) The Trustees may delegate any of their powers to one of the Trustees or to
a Committee consisting of such Members of their body as they shall think fit. Any
Trustee so appointed or any committee so formed shall in the exercise of the
powers so delegated, conform to any regulations that may be imposed upon
such Trustee or such committee by the Trustees.

2. (a) The Trustees shall decide all differences or disputes which may arise
under the Rules either as to the interpretation thereof or as to the rights and
obligations of the Institute and of the beneficiaries and the decision of the
Trustees shall, in all cases, be final and binding on all parties concerned
PROVIDED ALWAYS where such difference or dispute shall related to Income
Tax matter, it shall be referred to the Commissioner and his/her decision shall
be final.

(b) Right of Trustees to withhold or withdraw pension: The Trustees reserve the
right of withholding or withdrawing a pension or part thereof, whether
permanently / or for a specified period, and of ordering recovery from a pension
of the whole or part of any pecuniary loss caused to the Institute, if in any
departmental or judicial proceedings, the Pensioner is found guilty of grave
misconduct or convicted of a serious crime during the period of his/her service
which could lead to dismissal of the Employees from the services of the Institute.

Provided further that where a part of pension is withheld or withdrawn, the

amount of such pension shall not be reduced below the amount of [Rs. 1800/-
(Rupees One Thousand Eight Hundred only) per month.]231

3. (a) The Trustees shall have power to appoint any person or persons with
the requisite qualifications to act as the Actuary, the Secretary or Secretaries
or the Manager or Managers or Registrars of the Fund at such remuneration
and on such terms and conditions and with such powers as the Trustees may
think fit. The Trustees may also employ any person or persons to do any legal,
accounting, actuarial or other work which they may consider necessary or
expedient in connection with the management of the Fund or the assets
thereof.

(b) All cheques and other negotiable or transferable instruments and all receipts
for moneys paid to the Fund shall be signed, drawn, accepted, endorsed or
otherwise executed as the case may be, in such manner as the Trustees shall
from time to time by resolution determine.

231
Substituted w.e.f. 01.04.2010 vide Circular No. 18/2010 dated 20.12.2010, prior to its substitution,
limits were as under: [w.e.f 01.11.1993 Rs. 160 (Rupees One Hundred Sixty only) per month w.e.f.
14.05.1996 Rs. 400 (Rupees Four Hundred only) per month w.e.f. 01.04.1999 Rs. 640 (Rupees Six
Hundred Forty only) per month]

150
(c) The Trustees may hold the investments of the Fund in the name of the Fund
or in the names of any two of them on behalf of the Trustees or in the name of a
nominee whether a bank, a financial house or a trust company, as the Trustees
may from time to time determine. Application for purchase of any investment of
the Fund (including policies of annuity) may be made by one or more of the
Trustees or by any of their nominee.

4. The Trustees shall not at any time be made liable for any more money than
what may actually come into their own hands or for the failure of any bank,
company or firm or for the dishonesty of any clerk, servant or attorney or other
persons with whom any part of the trust property may be deposited or be
placed in charge or for anything other than their own immediate and respective
wilful acts, deeds and defaults. Notwithstanding anything contained in these
presents, the Trustees shall be at liberty to utilize any part of the funds of the
Fund in reimbursing them for all sums of money, costs, charges or damages
suffered or borne by them in accordance with the administration of the Fund
regardless of the insufficiency of the total funds for the purpose of meeting all
obligations of the Trustees and the Trustees shall be entitled to be indemnified
by the Institute against all proceedings, costs and expenses occasioned by any
claim in connection with the Fund not arising from their negligence or fraud.

5. (a) The Trustees shall open with any scheduled bank or banks as they may
from time to time determine a Saving Bank Account or accounts and place to
the credit of such account or accounts, all money/s from time to time received
by the Trustees for the purpose of the Fund.

(b) The moneys of the Fund shall be dealt with in the manner prescribed in Rule
85 of the Income Tax Rules, 1962 or in any other manner which may from time
to time be authorized by the Central Board of Direct Taxes.

(c) The Trustees shall have power to vary or transpose the investments for the
time being of the Fund or others of the nature authorized in sub-rule (b) hereof.

(d) The Trustees may, when necessary, raise such sum or sums of money as
may be required for the purpose of the Fund by sale or advance or advances
against the securities held by them or a sufficient part thereof or otherwise.

PART III
CONTRIBUTIONS

1. The Institute shall pay to the Trustees in respect of each Employee, an initial
or lump sum contribution as may be certified by the Actuary of the Fund and also
in such installments as may be certified by the Actuary, in respect of the past
service of the Employee subject to the provisions of the Rule 88 of the Income
Tax Rules 1962 and to any condition that the Central Board of Direct Taxes may
specify in that behalf.

2. The Institute shall pay to the Trustees in respect of each Employee an

ordinary annual contribution as may be certified by the Actuary subject to the
provisions of Rule 87 of the Income-Tax Rules, 1962. The payment can be

151
made either annually or in periodic installments.

PART IV
ACCOUNTS

1. The Accounts of the Fund shall be maintained in India and shall contain
such particulars as the Trustees may think proper and as are required by law.
As soon as possible after the 31st day of March in each year, the Trustees
shall take a general account of the assets and liabilities of the Fund and shall
prepare a Balance Sheet and a Revenue Account showing the income and
expenditure dealings and transactions during the year terminating on such 31st
March in such form as may be considered suitable by the Trustees. The
Trustees will ascertain and record the market value, as on the said date of the
total investments or securities of the Fund. In the case of any investment or
security not being a dated security, or an investment or securities or an
insurance or annuity policy for which the market value is not available, the
Trustees shall incorporate these in the accounts in such manner and at such
value as they shall at their absolute discretion, consider proper and equitable.
The total appreciation and depreciation of the securities so ascertained and
any profit or loss incurred on the sale of securities, including surrender or
encashment of policies of assurance or annuities all interest accrued or
received and all expenses of management that may be borne by the Trustees
will be credited or debited as the case may be to the Revenue Account.

2. The balance of the Revenue Account as well as the contributions credited to

an account to be called “The Members Contribution Account” representing the
total contribution made in respect of individual members shall, at the end of the
year, be transferred to an account hereinafter referred to as the Benefit
Account. All benefits paid shall be debited to the Benefit Account.

3. For the purpose of auditing the Accounts of the Fund, the Trustees shall
appoint a Chartered Accountant or a firm of Chartered Accountants who shall
have access to all the books, papers, vouchers and documents connected with
the Fund and who shall in writing report to the Trustees on the annual
accounts. The Trustees shall ensure that the Annual Accounts of the Fund
prepared on 31st March every year are audited and placed in the Trustees
meeting on or before 30th September every year.

PART V
PURCHASE OF ANNUITIES

The Trustees may for the purpose of providing the pensions for the Employees
pursuant to the Rules, purchase annuities from the Life Insurance Corporation
of India at the time of retirement or death.

152
 APPENDIX I

TO WHOMESOEVER IT MAY CONCERN

ALIVE CERTIFICATE

This is to certify that Shri/Smt./Ms.______________________, whose particulars are

given below, is alive as on______________ (indicate the date)

Father’s Name______________________________________

Date of Birth________________________________________

Present Address ___________________________________

__________________________________________________
__________________________________________________
__________________________________________________

Signature of the Pensioner:

_____________________

Attested by_______________________
Paste the latest
Photograph of Signature________________________
the Pensioner
Name___________________________

Designation______________________

Address _______________________

________________________________

________________________________

Note: Attestation should be done by any one of the Gazetted Officer, Bank
Manager, Post Master or Member of the Institute.

153
 APPENDIX II

COMMUTATION VALUE FOR A PENSION OF RE. 1 PER ANNUM

Age Commutation Age Commutation Age Commutation

next value next value next value
birthday expressed as birthday expressed as birthday expressed as
number of number of number of
year’s purchase year’s purchase year’s purchase
20 9.188 41 9.075 62 8.093
21 9.187 42 9.059 63 7.982
22 9.186 43 9.040 64 7.862
23 9.185 44 9.019 65 7.731
24 9.184 45 8.996 66 7.591
25 9.183 46 8.971 67 7.431
26 9.182 47 8.943 68 7.262
27 9.180 48 8.913 69 7.083
28 9.178 49 8.881 70 6.897
29 9.176 50 8.846 71 6.703
30 9.173 51 8.808 72 6.502
31 9.169 52 8.768 73 6.296
32 9.164 53 8.724 74 6.085
33 9.159 54 8.678 75 5.872
34 9.152 55 8.627 76 5.657
35 9.145 56 8.572 77 5.443
36 9.136 57 8.512 78 5.229
37 9.126 58 8.446 79 5.018
38 9.116 59 8.371 80 4.812
39 9.103 60 8.287 81 4.611
40 9.090 61 8.194

[Basis: LIC (94-96) Ultimate Tables and 8.00% interest]

NOTES
NOTES

154
 Schedule - E-5

THE ICSI EMPLOYEES’ NEW PENSION FUND TRUST

RULES
(As amended upto 1st April, 2014)

155
 INDEX

RULE CONTENTS PAGE NO.

NO.
1 Short title and commencement 157
2 Application 157
3 Definitions 157-158
4 Objects of the Trust 158
5 Member 158-159
6 Management of the Trust 159
7 General Rules 159-160
8 Investment of Pension Trust 160
9 Exit from the New Pension Scheme 160-161
10 Miscellaneous 161
11 Administration & control of the Trust 161
12 Maintenance 162
13 Annual Statement to each member 162
14 Abstract of Individual accounts 162
15 Nominations 162
16 Annual Accounts 162-163
17 Assignment & transfer of members interest in the 163
Trust
18 Indemnification of Trustees 163
19 Closing of the Fund 163
20 Issue of certificate relating to balance amount 164
21 Power to make new rules 164
22 Savings 164

Appendix

Form ‘A’ Form of Agreement 165

Form ‘B’ Abstract of Individual Account 166

Form ‘C’ Nomination 167

Form ’D’ Change of Nomination 168

156
 RULES AND REGULATIONS OF
ICSI EMPLOYEES NEW PENSION FUND TRUST RULES, 2009

1. SHORT TITLE AND COMMENCEMENT:

1. These Rules shall be called the “ICSI Employees New Pension Fund
Trust Rules, 2009.

2. They shall come into force with effect from 1.10.2009.

2. APPLICATION:

These Rules shall apply to the employees of the Institute of Company

Secretaries of India appointed on or after 1st January, 2005.

3. DEFINITIONS:

In these Rules unless the context otherwise requires: –

a) “Appointing Authority” means the authority as defined in the Institute of

Company Secretaries of India Service Rules, 1979.

b) “Council” means the Council of the Institute.

c) “Employee” means the regular & whole time salaried employee of the
Institute engaged on a regular post (including probation) and whose name
is included in the Permanent Pay Rolls of the Institute but does not
include temporary or casual or contractual employees.

d) “Family” means the Family as defined in The Institute of Company

Secretaries of India Service Rules, 1979.

e) “Institute” means the Institute of Company Secretaries of India constituted

under the Company Secretaries Act, 1980, as amended from time to time.

f) “Member” means an employee of the Institute appointed on or after 1 st

January, 2005, or who joins the services of the Institute on or after 1 st
January, 2005.

g) “Month” means a calendar month and “Year” means a period of 12

months period commencing on 1st day of April and ending on 31st day of
March, next year.

h) “Pay” means Basic Pay drawn in the prescribed pay band plus the
applicable Grade Pay plus Dearness Allowance as applicable from time
to time but does not include any other type of pay like special pay, etc.

157
 i) “Pension Fund Regulatory and Development Authority” (PFRDA) means
the Authority established by the Central Government under the Pension
Fund Regulatory and Development Authority Act.

j) “President” means the President of the Institute.

k) “Trust” means as defined in the Trust Deed of the “ICSI Employees New
Pension Fund Trust”.

l) “Trustees” means the Trustees of the “ICSI Employees New Pension

Fund Trust” for the time being as appointed in terms of the provisions of
the Trust Deed dated 6th March, 2009.

II. Other terms and expressions which have not been defined under these
Rules, shall have the same as assigned to them under “The Institute of
Company Secretaries of India Service Rules, 1979” or as made applicable to
the Institute from the New Pension Scheme of the Central Government.

4. OBJECTS OF THE TRUST

The objects and purposes of the ICSI Employees New Pension Fund Trust
shall be:

a) To constitute, operate and manage for the employees of the Institute

appointed on or after 1st January, 2005, the New Pension Scheme as
approved by the Council and as amended from time to time, in so far they
are made applicable to the employees of the Institute.

b) To formulate, operate and manage different categories of Pension

Scheme for the employees of the Institute. The choice of the pension
scheme would rest with the Member who will allocate his accumulations
across the schemes in force.

c) To pay to the employees of the Institute, who becomes a Member of the

ICSI Employees New Pension Fund Trust, such amount(s) to which they
may become entitled and in such a manner as may be prescribed in the
ICSI Employees New Pension Fund Trust Rules from time to time.

d) To formulate, operate and manage second tier voluntary scheme for the
employees of the Institute out of the voluntary contributions made by
them over and above the mandatory contributions to the Pension
Schemes. No contribution shall be required to be made by the Institute to
any such Scheme.

5. MEMBER

a) Every employee of the Institute appointed on or after 1 st January, 2005

and every employee who will so join the services of the Institute on or

158
 after that date shall become a member of the “ICSI Employees New
Pension Fund Trust”.

b) Every such employee who shall become a member shall sign a

declaration of agreement to comply with the Rules as set forth in the
Form “A”.

6. MANAGEMENT OF THE TRUST

The Trust shall be irrevocable Trust for the benefit of the Members thereof,
managed by the Trustees, whose decision with reference to all matters and
questions arising under or out of these Rules, so long as that decision does
not involve a revocation of the Trust hereby constituted, shall be final and
binding on all members or their representatives and the employers.

7. GENERAL RULES

a) The payment of Pension to the employees of the Institute appointed on or

after 1st January, 2005, shall be regulated by the “ICSI Employees New
Pension Fund Trust Rules, 2009.

b) Every member shall contribute every month 10% (Ten percent) of his
Pay to the Trust as regular contribution an amount representing, as
defined in Rule 3(i) payable to him, fraction of Rupee less than 50 paise
being dis-regarded and fraction of a Rupee equal to or exceeding 50
paise being regarded as One Rupee.

c) The Institute shall make a matching contribution of an equivalent amount

as stated at para 7(b) to the Trust.

d) The contributions made by the Member and the matching contributions

made by the Institute and the investment returns thereon shall be
deposited in non-withdrawable Pension Trust Tier-I Account.

e) The contributions made by the Member and the Institute to Pension Fund
Tier-I Account shall not be withdrawn or paid to the Member except in the
manner and subject to the conditions as herein after provided.

f) In addition to contributions to Pension Fund Tier-I Account, a Member of

the Trust may, at his option and voluntarily, contribute such further
amount, as he may decide on the date of appointment and thereafter on
1st April of each year, to the withdrawable Pension Fund Tier-II Account.

g) The Institute shall not make any contribution to the withdrawable Pension
Tier-II Account.

h) The employees of the Institute appointed on or after 1 st January, 2005,

shall not be eligible to the benefits of Pension, Provident Fund etc. under

159
 the existing Schemes of the Institute which are applicable to the
employees appointed before 1st January, 2005

8. INVESTMENT OF PENSION TRUST:

a) The ICSI Employees New Pension Fund Trust shall invest the
contributions in Tier-I and Tier-II Pensions accounts in fixed income
instruments and equities.

b) The Trust shall devise and circulate to the Members covered by the rules
three optional Schemes of investment, namely, A, B, & C having
different ratios of investment in fixed income instruments and equities.

c) The Investment of the funds in individual accounts shall be made in the

fixed income instruments and equities on the basis of the option
exercised by each Member.

d) The option for investment in terms of Schemes A, B or C shall be

exercised by the Member at the time of his appointment and thereafter in
April each year. The Member shall not be permitted to change his option
at any time during the year.

e) The option exercised by the Member shall be applicable only to the

investments made after the exercise of the option. The investments
made earlier shall not be disturbed and shall continue to be made in
accordance with the option already exercised.

f) The Trust may avail of the services of the Pension Fund Regulatory and
Development Authority (PFRDA) or the Fund Manager or any other
agency for the purposes of the making investment of Pension Funds in
Tier-I and Tier-II Account.

9. EXIT FROM THE NEW PENSION SCHEME:

a) A Member can exit from the Pension Fund Tier-I of the Scheme on
attaining the age of superannuation as may be prescribed in “The Institute
of Company Secretaries of India Service Rules, 1979”. At exit it would be
mandatory for the Member to invest 40% of the pension wealth to
purchase an annuity from an insurance company which is regulated by
Insurance Regulatory and Development Authority (IRDA), to provide for
pension for the lifetime of the employee and his/her family.

b) In case the Member leave the Scheme before attaining the age of
superannuation on account of death, resignation, termination or for any
other reasons, it would be mandatory for the employee to invest 80% of
the pension wealth to purchase an annuity from an insurance company
which is regulated by Insurance Regulatory and Development Authority

160
 (IRDA), to provide for pension for the lifetime of the employee and his/ her
family.

c) The employee shall be free to withdraw the balance 60% or 20%, as the
case may be, after leaving mandatory amount of 40% or 80% in terms of
Rules (a) and (b) of Rule 9, which he may utilize in any manner. The
amount so withdrawn shall not constitute pension investment and would
attract no special tax treatment.

d) An employee shall be free to withdraw from Tier-II Account part or all of

his money at any time after making an application to the Trust.

10. MISCELLANEOUS:

a) Till the monies contributed to the ‘ICSI Employees New Pension Fund
Trust - under Scheme, Tier-I and Tier-II are invested as provided in these
Rules, the amount representing the contributions made by the employees
and the matching contributions made by the Institute shall be kept by the
Trust in Special Account and interest at the rate as may be prescribed by
the Central Government under the New Pension Scheme shall be
credited to the Pension wealth.

b) The Institute shall make deductions of the contributions of the employees

in respect of mandatory Tier-I of the Scheme from their pay and remit the
same to the Trust along with matching contributions of the Institute.

c) The Institute shall also make deductions of the contribution of the

employees in respect of Optional Tier-II of the Scheme and shall remit the
same to the Trust.

11. ADMINISTRATION AND CONTROL OF THE TRUST

The Trust hereby constituted shall vest in the Trustees and their successors
in office irrevocably in Trust in accordance with the Deed of Trust dated 6 th
March, 2009. The Fund shall be held and managed by the Trustees for the
time being in accordance with these Regulations. The provisions of Income
Tax Act, 1961 and the Rules made under Income-tax Rules, 1962 in respect
of Recognized Funds shall prevail and apply hereto. In case of any
discrepancy or repugnance between the said provisions and Rules and these
Regulations, except for the purposes of amendment of these regulations, the
majority of Trustees may exercise all the powers of the Trustees. Any
resolution passed by circulation and signed by all the Trustees for the time
being in India shall be as valid and effective as a resolution duly passed at a
regularly convened meeting of the Trustees. All matters relating to or
connected with the Fund, the management or the administration and control
thereof or the rights and obligations of the Members and their heirs,
executors, legal representatives and nominees hereunder, shall be vested in
Trustees and their, decision thereon shall be final and binding on the
Employers and Members and their heirs, executors, legal representatives
and nominees.

161
12. MAINTENANCE OF THE FUND TRUST

All moneys of the New Pension Fund Trust shall be kept deposited and / or
invested in the manner prescribed in the Rules in the name of the “ICSI
Employees New Pension Fund Trust” and shall be dealt with in accordance
with these Rules and such accounts shall be operated on the authority and
signature of any two Trustees.

13. ANNUAL STATEMENT TO EACH MEMBER

A Statement of Account of each member as on 31st March of each year shall

be prepared as in Form “B” and provided to the member who will certify in
writing that the amount shown therein is correct.

14. ABSTRACT OF INDIVIDUAL ACCOUNTS

An abstract for the year ended 31st March of each year of the individual
account of each Member participating in the New Pension Fund in respect of
whom a return is required to be furnished in terms of Rules framed, if any,
under Income-Tax Rules, 1962, shall be furnished by the Trustees to the
Income-Tax Officer specified in this regard each year.

15. NOMINATIONS

(1) Each member shall make a nomination in writing as in Form “C”

conferring the right on his/her nominee or nominees to receive the
amount that may stand to his credit in the fund in the event of his death,
before that amount becomes payable, or having become payable, has not
been paid.

(2) If a member nominates more than one person under sub-rule (1), he/she
shall, in his/her nomination, specify the amount or share payable to each
of the nominees in such a manner as to cover the whole of the amount
that may stand to his credit in the Trust.

(3) Where a member has a family at the time of making a nomination, the
nomination shall be in favour of one or more persons belonging to his/her
family. Any nomination made by such member in favour of a person not
belonging to his family shall be invalid.

(4) If at the time of making a nomination, the member has no family, the
nomination may be made in favour of any person or persons but if the
member subsequently acquires a family, such nomination shall forthwith
be deemed to be invalid and the member shall make a fresh nomination
in favour of one or more persons belonging to his/her family.

162
 (5) A nomination made by a member may, at any time, be modified by him
after giving a written notice to the Trustees of his intention of doing so in
Form”D”. such notice will automatically cancel the previous nomination.

(6) If the nominee predeceases the member, the interest of the nominee shall
revert to the member who shall thereupon make a fresh nomination in
respect of such interest.

(7) A nomination or its modification shall take effect to the extent that it is
valid on the date on which it is received by the Trustees.

16. ANNUAL ACCOUNTS

The accounts of the ICSI Employees Pension Fund Trust shall be made up
yearly as on 31st March.

17. ASSIGNMENT AND TRANSFER OF MEMBERS INTEREST IN THE

TRUST

(1) The amount standing to the credit of any member in the Fund shall not in
any way be capable of being assigned or charged and shall not be liable
to attachment under any decree or order of any Court in respect of any
debt or liability incurred by the member and neither the official assignee
appointed under the Presidency-Towns Insolvency Act, 1909, nor any
receiver appointed under the Provincial Insolvency Act, 1920, shall be
entitled to, or have any claim on any such amount.

(3) Any amount standing to the credit of a member in the Trust

at the time of his death and payable to his nominee under
the rules of the Trust shall, subject to any deduction
authorized by the said rules, vest in the nominee and shall
be free from any debt or other liability incurred by the
deceased or the nominee before the death of the member.
(4)

18. INDEMNIFICATION OF TRUSTEES

The Institute shall hold every Trustee indemnified against all proceedings,
costs and expenses occasioned by any claim in connection with the Fund not
arising from his negligence or fraud.

19. CLOSING OF THE FUND

The Trust shall not be closed except in the case of the Institute of Company
Secretaries of India being wound up.

163
20. ISSUE OF CERTIFICATE RELATING TO BALANCE AMOUNT

In all cases wherein a certificate shall be required of the amount of the

balance standing in the books of the Trust to the credit of a deceased
member for the purpose of obtaining probate or letters of administration or for
any other purpose such certificate shall inter alia show whether there is any
nomination or its modification which shall take effect to the extent there it was
valid on the date it was received by the Trustees.

21. POWER TO MAKE NEW RULES

(1) All matters or procedure and all ancillary matters not herein specifically
provided for and requiring the framing of rules shall be regulated by such
rules as the Trustees may from time to time make in that behalf, with the
approval of the Council or Executive Committee of the Institute.

(2) The Trustees shall have power at all times, subject to the approval of the
Council or Executive Committee and the Income Tax authority, if
required, to alter any of the regulations contained in these presents for
the time being relating to the Fund and make new rules in modification or
substitution of the rules for the time being in force.

(3) While framing rules or altering them, regard shall be had to the following:

(i) They shall always be consistent with provisions of Income-Tax

Act, 1961 and rules made thereunder.

(ii) They shall always be consistent with the provision of PFRDA

(iii) They shall not affect the irrevocable nature of the Trust or make
the property or income of the Fund in any case or under any
circumstance revert to the Institute.

(iv) They shall not have retrospective effect so as to affect adversely

the rights existing on the date of alteration in respect of the sums
then at the credit of the member’s accounts.

(v) No rules, or any modification thereof, shall take effect, unless

they have been approved by the Income Tax authority having
jurisdiction over the fund.

22. SAVINGS:

The Institute may, at its option, defer the provisions relating to Tier-II of the
Scheme, for such time as it may consider necessary till the arrangements are
made.

164
 Form “A”

THE INSTITUTE OF COMPANY SECRETARIES OF INDIA

EMPLOYEE’S NEW PENSION FUND TRUST

FORM OF AGREEMENT – RULE 5(b)

I hereby declare that I have read the Rules of ICSI Employees’

New Pension Fund Rules, 2009 and that I agree to be bound by them
and by any subsequent additions to and alterations in the same as
may from time to time hereafter be made in pursuance of Rule 21 of
the said Rules.

Dated this_______________day of _____________20______

Name in Full: __________________________________

Date of Birth: __________________________________

Date of Joining Services:______________________________

Date of Joining Fund: ___________________________

Signature:_________________________________

Witness(1)________________________________

Witness(2)_________________________________

165
 Form – “B”

THE INSTITUTE OF COMPANY SECRETARIES OF INDIA

EMPLOYEES’ NEW PENSION FUND TRUST
(As prescribed in Rule 13)

Statement showing the Pension Wealth standing to the credit of Mr/

Ms _________ Designation______________________ in the
Department ____________.as on __________________
Pension Account No: ___________________Folio Number of
Account____________ Date of superannuation
___________________

The statement of account issued solely for his information.

__________________________________________________
Particulars Contributions
Tier-I Tier-II
__________________________________________________

Opening Balance as on ____________________________

Deposits during the year ____________________________

Withdrawals during the year under Tier- II ____________

Investment Returns ____________________________

Closing Balance as on ____________________________

Authorized Signatory

166
 Form – “C”

THE INSTITUTE OF COMPANY SECRETARIES OF INDIA

EMPLOYEES’ NEW PENSION FUND TRUST

Form of Nomination prescribed in accordance with Rule 15(1)

No.

Folio No.

The Trustees of the Institute of Company

Secretaries of India Employees New Pension Fund Trust
“ICSI House”
22, Institutional Area
Lodi Road,
New Delhi – 110 003

I,_________________________________________________
(NAME OF THE MEMBER IN BLOCK LETTERS)
s/o/d/o/w/o Shri/Smt._________________________________
hereby nominate the persons mentioned below to receive the amount
that may stand to my credit in the New Pension Fund Trust in the
event of my death before that amount has become payable or having
become payable, and has not been paid, direct that the said amount
shall be distributed among the said persons in the manner shown
against their names:
__________________________________________________
Sl. Name of nominee(s) Age Percentage of Relationship No.
(Date of Birth) share payable with the
employee
__________________________________________________
1.
2.
3.
__________________________________________________

Date________ Signature of the Employee

167
 Form “D”

THE INSTITUTE OF COMPANY SECRETARIES OF INDIA

EMPLOYEES’ NEW PENSION FUND TRUST

(Form of modifying previous Nomination prescribed in

accordance with Rule 15(5)
No.

Folio No.

The Trustees of the Institute of Company

Secretaries of India Employees New Pension Fund Trust
“ICSI house”
22, Institutional Area
Lodi Road,
New Delhi -110 003

I,_________________________________________________
(NAME OF THE MEMBER IN BLOCK LETTERS)
s/o/d/o/w/o Shri/Smt.________________________________
employed as____________________________ in the service of the
Institute of Company Secretaries of India hereby cancel the
nomination made by me previously as regards the disposal of the
amount that may stand to my credit in the New Pension Fund Trust in
the event of my death before that amount has become payable or,
having become payable, has not been paid, and direct that the said
amount shall be distributed among the said persons in the manner
shown against their names:

__________________________________________________
Sl. Name of nominee(s) Age Percentage of Relationship
No. (Date of Birth) share payable with the
employee

_________________________________________________
1.
2.
3.
__________________________________________________

Date_____________ Signature of the Employee

168
 SCHEDULE 'F

[MISCONDUCT]
(See Rule 43 of ICSI Service Rules)
"Misconduct", without prejudice to the generality of the term, shall include
the following acts and omissions of any employee of the Institute:

(a) Theft, fraud or any act of dishonesty in connection with the business or
property of the Institute or of another person connected with the Institute;

(b) Damaging, taking, offering or giving bribe or any illegal gratifications. If an

employee who is in possession of pecuniary resources or property
disproportionate to the known source of income either by him or on his
behalf or another person and in case he fails to give satisfactory
explanation for the same, then it will be presumed that he has acquired
the property by illegal means;

(c) Furnishing false information regarding name, age, father's name,

qualification, ability or previous service or any other matter germane to the
employment at the time of employment or during the course of
employment;

(d) Acting in a manner prejudicial to the interest of the Institute;

(e) Insubordination or disobedience, whether alone or in combination with

others, of any lawful and reasonable order of his superior;

(f) If an employee comes late or leaves earlier without prior permission more
than three times in a month then he will be deemed to be habitually
unpunctual;

(g) Absence without leave or over-staying the sanctioned leave without

sufficient grounds;

(h) Habitual negligence or neglect of work or any act of gross negligence;

(i) Damage to any property of the Institute;

(j) Interference or tampering with any safety devices installed in or about the
premises of the Institute or non-observance of safety instructions, security
system, or the rules or the subject;

(k) Drunkenness or riotous or disorderly or indecent behaviour as quarrelling

on the premises of the Institute or outside such premises where such
behaviour is related to or connected with the employment

(l) Gambling or playing cards within the premises of the Institute

(m) Smoking within the premises of the Institute where it is prohibited;

169
(n) Collection without the written permission of the competent authority of any
money/contribution within the premises of the Institute

(o) Sleeping or idling while on duty or during duty hours or adopting any
dilatory tactics

(p) Commission or any act which amounts to a criminal offence involving

moral turpitude

(q) Absence of the employee from his appointed place of work without
permission or sufficient reason.

(r) Commission of any act subversive of discipline or of good behaviour

(s) Abetment of or attempt at abetment of any act which amounts to

misconduct

(t) Being adjudged insolvent;

(u) Breach of orders or of any rules or instructions issued for the maintenance and
running of the Institute's office or maintaining its cleanliness

(v) Discrediting the Institute in the eyes of the Public, community or

Government damaging or attempting to damage its goodwill, or its
reputation

(w) Misbehaving with the Institute's staff/Members/Students or with the public in the
Institute's premises;

(x) Leaving station of posting without the permission of the competent

Authority;

(y) Threatening or intimidating any employee(s) in relation to the working of the

Institute;

(z) Unauthorised communication or disclosure of information, concerning policy

matters or any project investigation or research scheme, or business
carried out by the Institute or any matters relating to Institute which may come
to his knowledge in the course of his employment

(aa) Writing of anonymous or pseudonymous letters, writing to any superior

authority jointly or in combination or writing with name to any superior
authority without routing through proper channel or addressing a
communication to or approaching an authority other than those permitted
by these rules or forwarding advance copies of appeals and applications
to any authority

(ab) Loose talks, and spreading false rumors

(ac) Unauthorised use or possession of any property, machinery, tools,

vehicles or land belonging to the Institute

(ad) Willful falsification, defacement or destruction of personal records or any

other records of the Institute;

170
(ae) Failure to report to a Doctor as recommended by the Institute for being
medically examined when directed to do so;

(af) Refusal to accept charge sheet or warning notice or any communication

issued by the Institute or for and on its behalf;

(ag) Not taking proper care of the Institute's property and equipment etc.,
handed over to an employee in connection with the nature of his
employment or otherwise;

(ah) Leveling false allegations against any employee of the Institute orally or in writing;

(ai) Bringing any lethal or dangerous weapons or any prohibited article inside
the Institute without permission;

(aj) Distributing or exhibiting within the premises of the Institute or its vehicles any
handbills, pamphlets or posters without the previous written sanction of the
Institute;

(ak) Attending or holding meeting within the premises of the Institute without
previous written permission of the Institute;

(al) Canvassing for unions or associations or party membership or the

collections for union, associations or party dues, funds or contributions
etc., within the premises of the Institute without prior written permission of
the Institute;

(am) Shouting slogans or any other activity calculated to disturb the peace
within the premises of the Institute;

(an) Such other instances, without prejudice to the generality of the term
`misconduct' as may be determined by the Secretary from time to time.

171
 Schedule-‘ G’

**************

172
 Annexure – A
Unskilled (Part-A)
List of Casual Manpower deployed at HQrs / CCGRT / RO's / CO's (on Full Time basis) (
who have more than 3 yrs of services and are below 60 yrs of age )
S. Name of Casual Manpower Directorate / RO / Chapter DOB
No.

1 Ram Lakhan Kanpur 01-07-1975

2 Rambilas Lucknow 01-01-1973
3 Yadu Nath Pandey Kanpur 13-07-1971
4 Nathu Lal Jaipur 08-02-1970
5 Sh Manoj Kumar Juyal CCGRT 20-10-1974
6 Hemanta Das Guwahati 02-02-1985
7 Damodar Prasad SS 10-07-1969
8 Rajnish Kr- Surya HR 17-01-1976
9 Vinod Rawat Admn (STORES) 21-09-1989
10 K. Nagaraj Bangalore 28-09-1985
11 Shivajirao Shinde CCGRT 01-05-1969
12 Rajiv Kumar F&A 07-07-1976
13 Deepak Bhosle Thane 01-10-1972
14 Ganesh Chauhan Academics 30-03-1989
15 Mahipal Singh Koranga ADMN. (Lodi Road) 05-07-1981
16 Shankar Dutt NIRO 15-07-1975
17 Gopi chand Admn (STORES) 1970
18 Mr Harish Kumar Khurana Gurgaon 18-09-1967
19 Parvati Admn (STORES) 1967
20 Dinesh Shelor WIRO 01-09-1989
21 Dinesh Kadam WIRO 05-03-1980
22 Devender Shah T&P 23-08-1977
23 Ram Bahadur Thapa ADMN. (Lodi Road) 18-08-1985

173
 Annexure-A
Semiskilled (Part-B)
List of Casual Manpower deployed at HQrs / CCGRT / RO's / CO's (on Full Time
basis)
( who have more than 3 yrs of services and are below 60 yrs of age )
S. No. Name of Casual Manpower Directorate / RO / Chapter DOB
1 Sanjay Kumar ADMN. (Lodi Road) 01-05-1980
2 Anupreet Verma ADMN (Lodi Road) 25-02-1986
3 Richa Jain ADMN (Noida) 23-01-1988
4 Manoj Kumar Patna 09-06-1973
5 Bipin Kumar Choudhary Patna 11-01-1965
6 Uma Devi Gupta Kanpur 04-08-1962
7 Santosh Srivastava Kanpur 10-08-1971
8 Mehar Chand Chandigarh 05-08-1954
9 Rahul Verma Ghaziabad 02-10-1980
10 Shiv Moorti Tiwari Lucknow 01-04-1972
11 Niti Srivastava Academics 07-09-1973
12 Sanjeev Kumar Sharma Bareilly 15-07-1974
13 Ashok Agarwal Admn (STORES) 17-08-1971
14 P.C. Swain Bhubaneswar 08-06-1977
15 Chiranjeeb Sarma Roy Guwahati 14-09-1979
16 Munna Solanki Indore 07-08-1986
17 Ranjana Rao CCGRT 17-09-1976
18 Rani Raizada Amritsar 01-01-1970
19 Manish Jain Bhilwara 15-11-1979
20 Chandra Mohan Meena Jaipur 11-10-1989
21 Bharti Banti Patel Surat 06-02-1988
22 Vasant H. Kerkar Goa 09-07-1967
23 Sandhya Bhapkar Thane 23-04-1976
24 Kumar uttam Jalandhar 07-07-1986
25 Meera Sharma T&P 06-03-1972
26 Nikita Yadav Indore 10-05-1986
27 Kamal Chouhan Indore 08-01-1988
28 Kiran Ludbe CCGRT 18-07-1966
29 Sudhakar Aisalwaru Nagpur 28-11-1989
30 Sandhya Austine Kochi 25-05-1980
31 Mahesh Kumar Swarnakar Bhilwara 15-08-1989
32 Abhishek ADMN. (Lodi Road) 28-12-1989
33 S.Ashok Coimbatore 19-06-1971
34 Arvind Kumar Faridabad 31-08-1987
35 Krutika Kargutkar WIRO 15-02-1976
36 Shashi Bhushan Prasad Ranchi 19-12-1964
37 Naveen Chander Singh ADMN. (Noida) 20-07-1985
38 Ganesh Singh ADMN. (Lodi Road) 08-09-1985
39 Tapas Kumar Mazumdar Jamshedpur 17-01-1967
40 B.Gunasekaran SIRO 28-05-1971
41 Arvind Kr. Jha ADMN. (Noida) 01-02-1986
42 Kedar Singh Membership 07-06-1988
43 Om Prakash Shaw Hooghly 12-02-1989
44 Vijay Kumar CCGRT 18-08-1980
45 Rajashree Prashant Lambe Kohlapur 07-07-1974
46 Yogesh Kumar T&P 21-07-1983
47 Sushil Bhasin Lucknow 08-01-1982
48 Anand Mishra Ajmer 11-11-1973
49 BannaShankar Dasari WIRO 10-07-1982
50 Rohit Khunt Ahmedabad 21-04-1989
51 Anisha Rani Raipur 04-03-1985
52 Anil Uppadhyay Ghaziabad 16-03-1971
53 Deepak Kumar Gupta Varanasi 15-12-1972
54 Dimple Kundan Patel Surat 09-05-1986

174
 Annexure-A

Part –‘A’
As you are aware, the Institute of Company Secretaries of India is a statutory body constituted
under the Company Secretaries Act, 1980, which has its own Regulations and Rules, i.e., the
Company Secretaries Regulations, 1982 and the Institute of Company Secretaries Service
Rules, 1979, which inter-alia regulate the engagement of persons working in the Institute and
as such, any engagement made not in accordance with these, is not valid.

You have been engaged at Headquarters of the ICSI on casual basis, without having being
appointed as per the prescribed rule. As such, you have not been validly appointed and
accordingly your services are liable to be dispensed with.

However, the Council of the Institute, as a purely onetime measure without setting any
precedent, restricted to such individuals including you who have not been validly engaged but
have worked for three years as on 31.03.2014 and have put in satisfactory work performance
has decided to suitably amend the Service Rules, so as to offer them appointment as
‘specified staff’ in the Institute. Based on the nature of work being currently performed by you,
it is proposed to appoint you in the pay band of Staff ‘A’, that is, Rs.1800-4000, Grade Pay of
Rs. 400. In case you are willing to be appointed as specified staff, you will be placed in the
said pay band which would give you nearly 50% rise over your current monthly emoluments.
These emoluments include allowances such as Dearness Allowance, House Rent Allowance
and other benefits as per ICSI Service Rules.
st
The appointment as ‘specified staff’ will be offered w.e.f. 1 April, 2014, subject to the
following:

1. You have put in satisfactory work performance, for which performance appraisal report
would be taken from your HOD.

2. Medical fitness certificate would be submitted from the Government hospital.

3. Furnishing of written undertaking (Annexure ‘A’) that you have no claims and shall not have
any claim relating to your previous working in the Institute, including of continued
employment, wages, allowances and benefits, etc. and having being offered the employment
as a special onetime measure, you would not claim the same wages/allowances and other
benefits as are being given to the employees performing apparently similar job who have
been regularly employed under the Regulations and the Service Rules of the Institute of
Company Secretaries of India.

4. It would be seen from the above that you would not only get valid appointment as ‘specified
staff’, but would also get substantially higher monetary benefits. Accordingly, if the above
proposal is acceptable, you may give your acceptance of the same to the undersigned within
10 days of the date of issue of this letter, so that thereafter the other requirements for fresh
valid appointment as ‘specified staff’ can be completed expeditiously.

5. It may be noted that, in case you are not interested in acceptance of the above offer of fresh
valid appointment as ‘specified staff’, the Institute would be compelled to dispense with your
working in the Institute.

175
 Annexure-A

Part –‘B’

As you are aware, the Institute of Company Secretaries of India is a statutory body constituted
under the Company Secretaries Act, 1980, which has its own Regulations and Rules, i.e., the
Company Secretaries Regulations, 1982 and the Institute of Company Secretaries Service
Rules, 1979, which inter-alia regulate the engagement of persons working in the Institute and
as such, any engagement made not in accordance with these, is not valid.

You have been engaged at Headquarters of the ICSI on casual basis, without having being
appointed as per the prescribed rule. As such, you have not been validly appointed and
accordingly your services are liable to be dispensed with.

However, the Council of the Institute, as a purely onetime measure without setting any
precedent, restricted to such individuals including you who have not been validly engaged but
have worked for three years as on 31.03.2014 and have put in satisfactory work performance
has decided to suitably amend the Service Rules, so as to offer them appointment as
‘specified staff’ in the Institute. Based on the nature of work being currently performed by you,
it is proposed to appoint you in the pay band of Staff ‘B’, that is, Rs.2000-6000, Grade Pay of
Rs. 600. In case you are willing to be appointed as specified staff, you will be placed in the
said pay band which would give you nearly 50% rise over your current monthly emoluments.
These emoluments include allowances such as Dearness Allowance, House Rent Allowance
and other benefits as per ICSI Service Rules.
st
The appointment as ‘specified staff’ will be offered w.e.f. 1 April, 2014, subject to the
following:

1. You have put in satisfactory work performance, for which performance appraisal report
would be taken from your HOD.

2. Medical fitness certificate would be submitted from the Government hospital.

3. Furnishing of written undertaking (Annexure ‘A’) that you have no claims and shall not have
any claim relating to your previous working in the Institute, including of continued
employment, wages, allowances and benefits, etc. and having being offered the employment
as a special onetime measure, you would not claim the same wages/allowances and other
benefits as are being given to the employees performing apparently similar job who have
been regularly employed under the Regulations and the Service Rules of the Institute of
Company Secretaries of India.

4. It would be seen from the above that you would not only get valid appointment as ‘specified
staff’, but would also get substantially higher monetary benefits. Accordingly, if the above
proposal is acceptable, you may give your acceptance of the same to the undersigned within
10 days of the date of issue of this letter, so that thereafter the other requirements for fresh
valid appointment as ‘specified staff’ can be completed expeditiously.

5. It may be noted that, in case you are not interested in acceptance of the above offer of fresh
valid appointment as ‘specified staff’, the Institute would be compelled to dispense with your
working in the Institute.

176
 ANNEXURE ‘B’
Part-‘A’
AFFIDAVIT OF UNDERTAKING

I, ……………………. son/wife/daughter of ………… Resident of ……………

Aged about…….years do hereby solemnly affirm and state as under:

1. That I have been working on casual basis in the office of …………………….. since
………………………. .

2. That the Institute of Company Secretaries of India has amended suitably the Service
Rules, so as to offer me appointment as ‘specified staff’ in the Institute by fitting me
in the pay band of Staff ‘A’ that is, Rs.1800-4000, Grade Pay Rs. 400 in which I
will be placed by giving nearly 50% rise over my current monthly emoluments.
These emoluments include allowances such as Dearness Allowance, House Rent
Allowance and other benefits as per the ICSI Service Rules.

3. That I have accepted the letter dated ________ and the conditions contained
therein.

4. That I undertake that (a) I have no claims and shall not have any claim relating to
my previous working in the Institute including the continuity of engagement/ back
wages/ allowances and benefits etc.; and (b) I shall not claim parity in
wages/allowances and other benefits with the employees of the Institute who are
performing apparently similar jobs.

5. That I am giving the aforesaid undertaking of my own volition without any coercion,
threat or pressure of any kind, whatsoever.

Place:

Date:
Deponent

Verification
I, ………………………., the Deponent above named, do hereby verify and
state that the contents of paras 1 to 5 of the foregoing affidavit are true to my
knowledge, that nothing stated therein is wrong; and that no material fact has been
concealed.

Place:
Date:
Deponent

177
 ANNEXURE ‘B’
Part-‘B’
AFFIDAVIT OF UNDERTAKING

I, …………………..…. son/wife/daughter of ………… Resident of ……………

Aged about…….years do hereby solemnly affirm and state as under:

1. That I have been working on casual basis in the office of …………………… since
………….. .

2. That the Institute of Company Secretaries of India has amended suitably the Service
Rules, so as to offer me appointment as ‘specified staff’ in the Institute by fitting me
in the pay band of Staff ‘B’ that is, Rs.2000-6000, Grade Pay Rs. 600 in which I
will be placed by giving nearly 50% rise over my current monthly emoluments.
These emoluments include allowances such as Dearness Allowance, House Rent
Allowance and other benefits as per the ICSI Service Rules.

3. That I have accepted the letter dated ________ and the conditions contained
therein.

4. That I undertake that (a) I have no claims and shall not have any claim relating to
my previous working in the Institute including the continuity of engagement/ back
wages/ allowances and benefits etc.; and (b) I shall not claim parity in
wages/allowances and other benefits with the employees of the Institute who are
performing apparently similar jobs.

5. That I am giving the aforesaid undertaking of my own volition without any coercion,
threat or pressure of any kind, whatsoever.

Place:

Date:
Deponent
Verification

I, ………………………., the Deponent above named, do hereby verify and

state that the contents of paras 1 to 5 of the foregoing affidavit are true to my
knowledge, that nothing stated therein is wrong; and that no material fact has been
concealed.

Place:
Date: Deponent

178
 ANNEXURE ‘C’
PART ‘A’
(UN-SKILLED)
Salary, Allowances and Benefits Staff 'A' (Un-skilled)
Pay Band Rs.1800-4000, Grade Pay Rs.400

A Salary and Allowances

1 Basic Pay As per fitment depending upon the present
emoluments
2 Dearness Allowance As admissible
3 House Rent Allowance 30% of (Basic Pay+ Grade Pay)

4 Transport Allowance Rs.300 + DA on Transport Allowance

B Employer's Contribution to New 10% of (BP+GP+DA)

Pension Scheme
C Other Benefits :
1 Ex-gratia + PLI As admissible
2 Group personal accident insurance policy Rs. 5.00 lakh (Premium borne by the
coverage Institute)
3 Group life insurance policy coverage Rs. 3.00 lakh (Premium borne by the
under ICSI employee Benevolent fund Benevolent fund)
coverage amount

4 Children Education Expenses (upto to Sr. Rs.6000/-

Sec.) Max. two children per annum
5 Reimbursement of Medical Expenses per Rs.5000/-
annum
D Hospitalization Expenses Subject to
lodging of claims :
1 Hospitalization Expenses for Self, Spouse
& two dependent children. (subject to
submission of claim as per Rules) as per
the following limits -
(a) (Major Diseases)
Rs.2.00 lakh during life time.
(b) (Minor Diseases) Rs.10,000/- per annum
E Other Benefits :
1 Group Savings Linked Insurance (with contribution by employee only Rs.298/- per
double accident benefit) only for self : month
Coverage Amount Rs. 2.80 lakh in case of
natural death

179
 ANNEXURE ‘C’
PART ‘B’
(SEMI-SKILLED)
Salary, Allowances and Benefits Staff 'B' (Semi-skilled)
Pay Band Rs.2000-6000, Grade Pay
Rs.600
A Salary and Allowances
1 Basic Pay As per fitment depending upon the present
emoluments
2 Dearness Allowance As admissible
3 House Rent Allowance 30% of (Basic Pay+ Grade Pay)

4 Transport Allowance Rs.300 + DA on Transport Allowance

B Employer's Contribution to New Pension 10% of (BP+GP+DA)

Scheme
C Other Benefits :
1 Ex-gratia + PLI As admissible
2 Group personal accident insurance policy Rs. 5.00 lakh (Premium borne by the
coverage Institute)
3 Group life insurance policy coverage under Rs. 3.00 lakh (Premium borne by the
ICSI employee Benevolent fund coverage Benevolent fund)
amount

4 Children Education Expenses (upto to Sr. Rs.6000/-

Sec.) Max. two children per annum
5 Reimbursement of Medical Expenses per Rs.5000/-
annum
D Hospitalization Expenses subject to
lodging of claims :
1 Hospitalization Expenses for Self, Spouse &
two dependent children. (subject to
submission of claim as per Rules) as per
the following limits -
(a) (Major Diseases) Rs.2.00 lakh during life time.
(b) (Minor Diseases) Rs.10,000/-per annum
E Other Benefits :
1 Group Savings Linked Insurance (with contribution by employee only Rs.298/- per
double accident benefit) only for self : month
Coverage Amount Rs. 2.80 lakh in case of
natural death

180