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Schedule-II of the International Financial Services Centres Authority (Employees' Service) Regulatio...
Appointment authority is category-specific: the Authority appoints Executive Directors, the Chairperson appoints Officers, and the Executive Director appoints Multi-Tasking Staff. Disciplinary authority is divided between minor and major penalties: Executive Directors-Chairperson/Authority; Officers-Executive Director/Chairperson; Multi-Tasking Staff-Division Chief/Executive Director. This separates routine disciplinary control from authority to impose more serious penalties.
Schedule-I of the International Financial Services Centres Authority (Employees' Service) Regulation...
Recruitment to Executive Director and Grades A to F operates through promotion, deputation, contract appointment and, ordinarily for Grade A, direct recruitment. Grade-specific age limits, qualifications, experience and stream-wise eligibility apply to general, legal, research, information technology, engineering and official language posts. Selection committees include internal and external members, while deputation terms are settled with the lending organisation. Age, qualification and experience requirements may be relaxed on recorded reasons. Reservation and concessions follow Central Government directions, and eligible initial appointees must meet medical fitness and antecedent-verification requirements.
Regulation 117 of the International Financial Services Centres Authority (Employees' Service) Regula...
Any interpretative doubt concerning the International Financial Services Centres Authority (Employees' Service) Regulations, 2026, must be referred to the Chairperson or to another authority specified by the Chairperson. The Chairperson's decision on the referred matter is final, giving conclusive effect to the resolution of interpretative uncertainty under the regulations.
Regulation 116 of the International Financial Services Centres Authority (Employees' Service) Regula...
Regulation 116 repeals the International Financial Services Centres Authority (Employees' Service) Regulations, 2020 and modifies existing whole-time employees' service terms and conditions in accordance with the 2026 Regulations from commencement. Actions taken under the repealed Regulations are deemed taken under corresponding provisions of the 2026 Regulations. Accrued rights of appeal of persons covered by the Regulations remain preserved.
Regulation 115 of the International Financial Services Centres Authority (Employees' Service) Regula...
Every whole-time employee of the International Financial Services Centres Authority must subscribe to the prescribed declarations in Forms A to C in the Appendix, unless the Employees' Service Regulations specify otherwise. The Appendix forms identify the declarations to be subscribed, and the obligation is qualified only where the regulations otherwise provide.
Regulation 114 of the International Financial Services Centres Authority (Employees' Service) Regula...
Employees must subscribe to insurance schemes or funds instituted for employees and their families and comply with their governing rules. Mandatory subscription does not reduce otherwise admissible superannuation benefits. An employee need not subscribe where an exemption applies under the rules governing the relevant insurance scheme or fund.
Regulation 113 of the International Financial Services Centres Authority (Employees' Service) Regula...
Whole-time employees joining the Authority must, unless the regulations otherwise specify, become members of the IFSCA New Pension Scheme from their date of joining. Membership is automatic upon entry into service and subjects each such employee to the Scheme's provisions.
Regulation 112 of the International Financial Services Centres Authority (Employees' Service) Regula...
Gratuity is payable on retirement, death, certified disablement, resignation after five years of continuous service, and non-punitive termination after five years of service. Employees with fewer than five years of continuous service receive gratuity under the Code on Social Security, 2020. Employees with at least ten years of continuous service receive gratuity as specified, subject to the statutory minimum. Gratuity may be withheld during pending disciplinary proceedings, subject to payment after their conclusion and adjustment of recoveries.
Regulation 111 of the International Financial Services Centres Authority (Employees' Service) Regula...
Deputation and external assignment of an Authority employee to serve under another employer may be permitted on terms and conditions specified by the Competent Authority. Such placement cannot be imposed against the employee's will. Deputation is prohibited during the first ten years of employment unless otherwise decided in accordance with the applicable deputation policy.
Regulation 110 of the International Financial Services Centres Authority (Employees' Service) Regula...
Regulation 110 permits the Authority to allow its employees to be deputed to military service. Such permission is discretionary and subject to terms and conditions determined by the Authority for each employee and the relevant military-service deputation.
Regulation 109 of the International Financial Services Centres Authority (Employees' Service) Regula...
Travelling and halting allowances for employees are payable at rates and on terms and conditions approved by the Competent Authority from time to time. Applicable payment rates and conditions may therefore be determined and revised periodically through the approval-based framework.
Regulation 108 of the International Financial Services Centres Authority (Employees' Service) Regula...
Medical aid facilities must be provided to employees and eligible dependents for illness, accident-related injuries, hospitalisation, and domiciliary treatment under applicable guidelines. Comprehensive health insurance may additionally cover all employees and their dependents, subject to terms and conditions determined by the Authority. This insurance option operates alongside the general medical aid framework.
Regulation 107 of the International Financial Services Centres Authority (Employees' Service) Regula...
Vigilance cases involving alleged corrupt practices may be investigated by the Central Bureau of Investigation, Central Vigilance Commission, or another approved agency where allegations concern disproportionate assets, criminal misconduct, non-employee evidence, or otherwise warrant referral. Where a prima facie case exists, advice may be sought on disciplinary proceedings. Enquiries may be conducted by a Commissioner for Departmental Enquiries or a nominated person, and the Competent Authority determines penalties after considering advice on the charges and appropriate penalty.
Regulation 106 of the International Financial Services Centres Authority (Employees' Service) Regula...
Regulation 106 confers a power to relax time limits and condone delay on an authority competent to make an order. Unless an express contrary provision applies, the authority may extend a prescribed period for an act required to be done where good and sufficient reasons exist or sufficient cause is shown.
Regulation 105 of the International Financial Services Centres Authority (Employees' Service) Regula...
Service of orders, notices and other processes under the International Financial Services Centres Authority (Employees' Service) Regulations, 2026 must be effected personally on the concerned employee or communicated to her by registered post. The provision establishes authorised modes for serving communications in conduct, discipline and appeals matters.
Regulation 104 of the International Financial Services Centres Authority (Employees' Service) Regula...
The Authority or Chairperson may review an order where newly available material or evidence, unavailable or incapable of production at the original stage, is capable of changing the nature of the case. An employee must receive a reasonable opportunity to represent against a proposed penalty or enhancement. A proposed major penalty, including enhancement of a minor penalty to a major penalty, requires an enquiry under Regulation 88 where no prior enquiry has been held, subject to Regulation 93.
Regulation 103 of the International Financial Services Centres Authority (Employees' Service) Regula...
Revisional jurisdiction permits review of disciplinary orders where no appeal has been filed or no appeal lies. The revising authority may alter or set aside orders and penalties, impose a penalty, remit matters for further inquiry, or issue other appropriate orders. Penalty imposition or enhancement requires a reasonable opportunity of representation, and specified major penalties require a disciplinary inquiry where none has already occurred. Revision begins only after appeal timelines expire or an appeal is disposed of.
Regulation 102 of the International Financial Services Centres Authority (Employees' Service) Regula...
Implementation of appellate orders under the conduct, discipline and appeals framework requires the authority that made an order subsequently challenged in appeal to give effect to the order passed by the appellate authority. The obligation rests on the original decision-making authority and concerns execution of the appellate authority's directions concerning the appealed order, ensuring their implementation within the applicable service regulatory framework.
Regulation 101 of the International Financial Services Centres Authority (Employees' Service) Regula...
Appeals concerning disciplinary penalties or penalty enhancement require examination of procedural compliance, including whether non-compliance caused a constitutional violation or failure of justice; whether disciplinary findings are supported by record evidence; and whether the penalty is adequate, inadequate, or severe. The appellate authority may confirm, enhance, reduce, or set aside a penalty, or remit the matter with directions. Before imposing a specified enhanced penalty, it must ensure an inquiry where none occurred or afford reasonable opportunity of representation.
Circular No. PUBLIC NOTICE NO. 12/2020 Dated:- 21-1-2020 Trade Notice Dated:- 21-1-2020 Trade Notice
E-waste management requires bulk consumers to channel end-of-life electrical and electronic equipment through authorised collection, take-back, dismantling, or recycling routes; maintain Form 2 records; prevent mixing with radioactive e-waste; and file Form 3 annual returns by 30 June following the relevant financial year. Multiple offices in one State may submit one consolidated annual return.