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Ministry of Corporate Affairs

The Investor Education and Protection Fund Authority (Recruitment, Salary and other Terms
and Conditions of Service of officers and other employees) Rules, 2016
[approved by the Competent Authority yet to be legislatively vetted ]

1. Short title and commencement. - (1) These rules may be called the IEPF
Authority (Recruitment, Salary and other Terms and Conditions of Service of Officers
and other Employees) Rules, 2016

(2) These rules shall come into force on the date of their publication in the
Official Gazette.

2. Definitions. - (1) In these rules, unless the context otherwise requires,-

(a) "Act" means the Companies Act, 2013 (18 of 2013);

(b) "IEPF Authority" means the Authority as defined under section 125 of the
Act;

(c) "Schedule" means the Schedule annexed to these rules.

(2) All the words and expressions used and not defined in these rules, but
defined in the Act shall have the meanings as assigned to them in the Act.

3. Application. - These rules shall apply to all the officers and employees of the
Authority.

4. Number of posts, classification and pay band with pay grade. - The number of
posts, their classification and the pay band with grade pay attached thereto shall be as
specified in columns (2) to (4) of the Schedule.

5. Method of recruitment, eligibility etc. - The method or recruitment, eligibility

and other matters relating thereto shall be as specified in columns (5) to (13) of the
Schedule.
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6. Procedure for appointment on deputation. - The following procedure shall be

followed for making appointment on deputation to posts wherever prescribed in the
Schedule:

(1) The IEPF Authority shall invite applications for these posts.

(2) The selection committee for evaluating the applications received under Sub-
Rule 1 above shall be constituted as per column 12 of the schedule.

7. Period of deputation. - The period of deputation, including the period of

deputation in another ex-cadre post held immediately preceding this appointment in
the same or some other organization or department of the Central Government, shall
be three years from the date of beginning of the deputation for the posts carrying grade
pay below Rs. 6600 and shall be five years for the posts carrying grade pay of Rs. 8700 or
above. The period of deputation may be extended as per extant instruction of the
Department of Personnel & Training issued in this regard.

(2) The applicant for deputation should not have attained the age of fifty six years
on the last date of receipt of applications. The instructions issued by Department of
Personnel and Training shall be applicable to officers and staff serving on deputation
basis to the IEPF Authority

8. Conditions of service. - The conditions of service of the officers and employees

of the Authority including in matters of pay, allowances and leave shall be regulated in
accordance with such rules and regulations as are as the extant time applicable to the
officers and employees of the corresponding scale of pay of the Central Government.

9. Accommodation. - The officers and employees of the IEPF Authority shall have
the option of claiming House Rent Allowance in accordance with the rate prescribed by
the Central Government as applicable to officers and employees of the corresponding
scales of pay of the Central Government:

Provided that they shall not be eligible for House Rent Allowance in case they are
declared eligible for general pool residential accommodation and occupy such a
Government accommodation allotted to them.

10. Disciplinary Proceedings. - The modalities of disciplinary proceedings against the

officers and employees of the Authority shall be notified by the CEO IEPF Authority as
 LatestLaws.com

per rules and regulations applicable to officers and employees of the corresponding
scales of pay of the Central Government.

11. Disqualification. - No person-

al who has entered or contracted a marriage with a person having a spouse

living, or

(ii) who, having a spouse living , has entered into or contracted a marriage with
any person,

Shall be eligible for appointment to the said posts:

Provided that the Central Government may, if satisfied that such marriage is
permissible under the personal law applicable to such person and the other party to the
marriage and that there are other grounds for so doing, exempt any person from the
operation of this rule.

12. Power to relax. - Where the Central Government is of the opinion that it is
necessary or expedient to do so, it may, by order and for reasons to be recorded in
writing, relax any of the provisions of these rules with respect to any class or category of
persons.
 LatestLaws.com
Schedule
(see rule 4)
Name o f ihe Number o f Classification Pay Band with Whether Age limit Edueaiiona Whether Period of
Post Post Grade Pay or selection for direct 1 and other age and probation,
pay scale post or recruits qualificatio other if any
non- ns required educational
selection for direct qualificatio
post recruits ns
prescribed
for direct
recruits will
apply in the
case o f
promotccs

1 2 3 4 5 6 7 8 9

(1) General *l Not Pay Band - 4 Not Not Not Not Not
Manager, applicable (Rs. 37400- applicable .Applicable Applicable Applicable Applicable
1F.PF * Subject 67000/-) +
Authority to Grade Pay
variation Rs.8700/- (Pre-
depending revised)
on work (Annual
load i no re men l
@3%)
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