Insolvency and Bankruptcy Board of India (Salary, Allowances and other Terms and Conditions of Service of Chairperson and members) Rules, 2016
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Remuneration framework for insolvency board members establishes pay options, allowances, leave, travel and post service restrictions.
Rules set terms for the Chairperson and whole time members of the Insolvency and Bankruptcy Board: eligibility without prejudicial interests, tenure including casual vacancies and a one year post service employment restriction; remuneration by option between parity with senior Central Government pay or a consolidated salary with pension offset where applicable; allowances, leave entitlements and encashment limits; travel, accommodation, contributory pension subscription, no bonus or sitting fees, medical coverage, and referral of residuary matters to the Central Government. Part time members have specified terms, meeting fees and travel allowances, and the Central Government may relax provisions.