Notification regarding revision of salary and allowances payable

Notification regarding revision of salary and allowances payable to and other terms and conditions of service of Chairperson and other members of Insurance Regulatory and Development Authority of India.

G.S.R. 461(E). —In exercise of the powers conferred by sub-section (1) and clauses (a) and (b) of sub-section (2) of section 24 of the Insurance Regulatory and Development Authority of India Act, 1999 (41 of 1999), the Central Government hereby makes the following rules further to amend the Insurance Regulatory and Development Authority (Salary and Allowances payable to, and other terms and conditions of service of Chairperson and other members) Rules, 2000, namely: —

1. Short title and commencement. —
   (1) These rules may be called the Insurance Regulatory and Development Authority (Salary and Allowances payable to, and other terms and conditions of service of Chairperson and other members) Amendment Rules, 2022.
   (2) They shall come into force on the date of their publication in the Official Gazette.
   
2. In the Insurance Regulatory and Development Authority (Salary and Allowances payable to, and other terms and conditions of service of Chairperson and other members) Rules, 2000, —
   
   (i) for rule 3, the following rule shall be substituted, namely: —
   
   “3. Pay. —
   (1) The Chairperson shall receive a consolidated salary of rupees four lakh fifty thousand per month, without the facility of house and car.
   (2) A whole-time member shall receive a consolidated salary of rupees four lakh per month, without the facility of house and car.”;
   
   
   (ii) for rule 4, the following rule shall be substituted, namely: —
   
   “4. Provident fund, gratuity and pension. —
   (1) The Chairperson and a whole-time member shall be eligible to contribute to provident fund of the Authority and the manner and terms and conditions applicable in this regard shall, mutatis mutandis, be the same as those applicable to other employees of the Authority under regulations made by the Authority for their provident fund.
   
   (2) The Chairperson and a whole-time member shall not be entitled to payment of pension or gratuity or any post-retirement allowance or benefit for service rendered in the Authority.”;
   
   (iii) rule 5 shall be omitted;
   
   (iv) for rule 6, the following rule shall be substituted, namely: —
   
   “6. Travelling Allowance.—
   (1) The Chairperson and a whole-time member at the time of appointment, shall, (a) be entitled to travel from place of residence to join the Authority and on the expiry of the term with the Authority, to travel to home town with family (including in respect of journey undertaken by family); and (b) on tour or training within and outside India, be entitled to journey allowance, daily allowance and reimbursement of expense on transportation of personal effects at the same scales and rates as are applicable to Secretary and Additional Secretary to the Government of India, respectively.”;
   
   (v) for rule 7, the following rule shall be substituted, namely: —
   
   “7. Accommodation. —
   The Chairperson and a whole-time member shall not be alloted any house for residence.”;
   
   (vi) for rule 9, the following rule shall be substituted, namely: —
   
   “9. Medical assistance. —The Chairperson and a whole-time member during tenure with the Authority shall be entitled to such medical assistance as may be decided by the Authority:
   Provided that if the Chairperson or a whole-time member has retired from Government service or from the service of a public sector entity or a body corporate established by a Central or State Act which has a separate set of rules for the grant of medical assistance for such service, he may, opt to be governed by such rules.”;
   
   (vii) rule 10 shall be omitted;
   
   (viii) for rule 11, the following rule shall be substituted, namely: —
   
   “11. Leave and leave encashment. —
   
   (1) The authority competent to sanction leave shall be the Central Government in respect of the Chairperson, and the Chairperson in respect of a whole-time member.
   
   (2) A Chairperson and a whole-time member shall be entitled to thirty days of earned leave for every year of service:
   Provided that the leave account shall be credited with earned leave in advance in two instalments of fifteen days each, on 1st January and 1st July of every calendar year:
   Provided further that the earned leave at the credit at the close of previous half year shall be carried forward to the next half year.
   
   (3) The payment of leave salary during the leave shall be governed by the provisions of rule 40 of the Central Civil Services (Leave) Rules, 1972.
   
   (4) The Chairperson and a whole-time member shall be entitled to encashment of fifty percent of earned leave to his credit at any time, subject to the condition that encashment shall be permitted only once during any calendar year for a maximum of twelve days in a calendar year.
   
   (5) The Chairperson and a whole-time member shall be entitled to eight days casual leave in a calendar year.
   
   (6) The Chairperson and a whole-time member shall be entitled to half pay leave on medical certificate or on private affairs at the rate of twenty days in respect of each complete year of service, to be credited in advance in two instalments of ten days each, on 1st January and 1st July, of every calendar year and leave salary for half pay shall be equivalent to half of the leave salary admissible during the earned leave.
   
   (7) Leave on half pay may be commuted to full pay leave at the discretion of the Chairperson or a whole-time member, if is taken on medical grounds and is supported by a medical certificate by competent medical authority.”;
   
   (ix) for rule 12, the following rule shall be substituted, namely: –
   
   “12. Leave travel concession. —Leave travel concession shall be admissible to the Chairperson and a whole-time member in accordance with the provisions applicable to Secretary to Government of India, and Additional Secretary to Government of India, respectively.”;
   
   (x) in rule 13, for sub-rule (5), the following sub-rule shall be substituted, namely: —
   
   “(5) A part-time member shall be entitled to receive an allowance by way of sitting fee of rupees six thousand per day, for attending meeting of the Authority by him:
   Provided that the entitlement to such sitting fee shall be restricted to not more than ten meetings of the Authority attended by the part-time member in a month.”;
   
   (xi) for rule 14, the following shall be substituted, namely:-
   
   “14. Other terms and conditions of service. —
   
   (1) The Chairperson and a whole-time member shall ensure absence of conflict of interest in the performance of the functions of his office and shall not have any such financial or other interests as are likely to prejudicially affect the performance of the functions of his office.
   
   (2) Service conditions other than those expressly provided for under these rules, the Civil Service (Conduct) Rules, 1964 and the Central Civil Services (Classification, Control. and Appeal) Rules, 1965 shall be such as are applicable to officers of the Central Government, at the level of Secretary to Government of India, in the case of the Chairperson, and Additional Secretary to Government of India, in the case of a whole-time member.
   
   (3) The Chairperson and a whole-time member shall not be entitled to any sitting fee for attending meetings of the Authority.”.

Note : The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide notification number G.S.R. 841(E), dated the 25th October, 2000 and subsequently amended vide notification numbers G.S.R. 827 (E), dated the 1st December, 2008, G.S.R. 307(E), dated the 19th April, 2012, G.S.R. 269(E), dated the 4th April, 2014 and Corrigendum vide G.S.R. 580(E), dated the 24th July, 2015.

Notification

Read More on IRDAI