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.

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 ₹ 6600 and shall be five years for the posts carrying grade pay of ₹ 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 per rules and regulations applicable to officers and employees of the corresponding scales of pay of the Central Government.

11.  Disqualification. - No person-

(i)  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.

Investor Education and Protection Fund Authority sets recruitment, deputation, pay and service conditions for its officers and employees. These rules set recruitment, pay bands, grade pay, deputation procedures, eligibility and service conditions for all officers and employees of the IEPF Authority. The Schedule specifies posts, methods of recruitment and selection committees; deputation appointments require invited applications and evaluation by the Schedule specified committee. Deputation periods are three years for grade pay below Rs.6600 and five years for grade pay Rs.8700 or above, subject to extension and a maximum deputation age of fifty six; service conditions, HRA, leave and disciplinary procedures follow corresponding Central Government rules.