LIC of India Class I Officers’ (Revision of Terms and Conditions of Service) Amendment Rules, 2021
MINISTRY OF FINANCE
(Department of Financial Services)
NOTIFICATION
New Delhi, the 15th April, 2021
G.S.R. 268(E).-In exercise of the powers conferred by section 48 of the Life Insurance Corporation Act, 1956 (31 of 1956), the Central Government hereby makes the following rules further to amend the Life Insurance Corporation of India Class I Officers ‘ (Revision of Terms and Conditions of Service) Rules, 1985, namely:-
1. (1) These rules may be called the Life Insurance Corporation of India Class I Officers’ (Revision of Terms and Conditions of Service) Amendment Rules, 2021.
(2) They shall be deemed to have come into force on the 1st day of August, 2017.
(3) These rules shall be applicable to those Class I Officers who were in the whole-time salaried service in the permanent establishment of the Corporation on or after the 1st August, 2017:
Provided that where any Class I Officer gives a notice in writing to the Corporation, within a period as specified by the Corporation, expressing his option to be governed by the provisions of these rules with effect from a date which is not earlier than 1st August, 2017 and not later than the date of publication of this notification in the Official Gazette, then the Corporation may, by order, permit such Officer to be governed by these rules with effect from the said date and no arrears for the period prior to the date so opted shall be payable to such officer:
Provided further that an officer whose resignation had been accepted or whose services had been terminated under rule 39 of Life Insurance Corporation of India (Staff) Rules, 1960 during the period from 1st August, 2017 to the date of publication of this notification in the Official Gazette, shall not be eligible for the arrears on account of revision under these rules.
2. In the Life Insurance Corporation of India, Class I Officers (Revision of Terms and Conditions of Service) Rules, 1985 (hereinafter referred to as the principal rules), for rule 4, the following rule shall be substituted, namely:-
“4. Scales of pay and seniority of Class I Officers.-( 1) The scale of pay of the Class I Officers shall be as specified in the table below:-
TABLE
| S.N. | Entry | Class I Officer posts | Scale of pay |
| (1) | (2) | (3) | (4) |
| 1. | (i) | Zonal Managers | (a) Ordinary  Scale: Rs.  1,46,095-4,415(8)- |
| 1,81,415 | |||
| (ii) | Chief Engineers I Chief Architects | (b) Selection Scale: Rs. Â 1,63,755-4,415(2)- | |
| 1,72,585-4,735(1)-1,77,320-5,180(1)- | |||
| 1,82,500-5,370(4)-2,03,980 | |||
| 2. | (i)
 (ii) |
Deputy Zonal Managers I Senior Divisional Managers Deputy Chief Engineers I Deputy Chief Architects | Rs. 1,30,500-3,780(3)- l,41,840-4,255(6)- l,67,370 |
| 3. | (i)
(ii) |
Divisional Managers
Superintending Engineers I Senior Surveyors of Works I Senior Architects |
Rs. Â 1,07,820-3,780(9)-1,41,840 |
| 4. | (i) | Assistant Divisional Managers | Rs. Â 87,985-2,645(1)-90,630-2,865(6)-1,07 Â ,820- |
| Senior Branch Managers | 3,780(4)-1,22,940 | ||
| (ii) | Executive Engineers I Surveyors of | ||
| Works I Deputy Senior Architects | |||
| 5. | (i)
 (ii) |
Administrative Officers I Branch Managers
Assistant Executive Engineers I Assistant Surveyors of Works I Architects |
Rs. 72, 115-2,645(7)-90,630-2,865( 6)-1,07 ,820 |
| 6. | (i)
 (ii) |
Assistant Administrative Officers I
Assistant Branch Managers Assistant Engineers I Assistant Architects |
Rs. Â 53,600-2,645(14)-90,630-2,865( 4)-1,02,090 |
(2)  A  separate  seniority  list  shall be  maintained  in respect  of  Officers  appointed  to posts  specified  in entries (i) and (ii) respectively under various serial numbers in the table in sub -rule (l).”
- In rule 4A of the principal rules,-
- in clause (b), after the words “maximum of five such additions”, the words “and after two years from availing the fifth such addition, he may be granted one further addition to the basic pay equal to the last increment drawn by him in the scale of pay” shall be inserted ;
- in clause (c), after the words “maximum of two such additions”, the words “and after two years from availing the second such addition, he may be granted one further addition to the basic pay equal to the last increment drawn by him in the scale of pay” shall be
- In rule 5 of the principal rules,-
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