(1) The Board, shall at its discretion, determine from time to time the pay and allowances applicable to different categories of employees.
19 Inserted by SEBI (Employees' Service) (Second Amendment) Regulations, 2012, w.r.e.f. 19- 11-2012.
20 Substituted by the SEBI (Employees’ Service) (Amendment) Regulations, 2012, w.e.f. 2-5-
2012. Prior to the same, it read as “except promotions to Officer Grade C and Officer Grade E”, inserted by the SEBI (Employees’ Service) (Amendment) Regulations, 2010, w.e.f. 30-1-2008.
21 Substituted for "and Library Assistants" by the SEBI (Employees' Service) (Amendment) Regulations, 2012 w.e.f. 2-5-2012.
22 Words "Receptionist-com-Telephone Operator and" omitted by SEBI (Employees' Service) (Amendment) Regulations, 2010 w.r.e.f. 30-1-2008.
Other benefits
(2) The Board, may at its discretion, from time to time frame such schemes and allow such other benefits for the welfare of the employees at such terms and conditions as it may determine.
When accrue and payable
19. Subject to the provisions of these Regulations, pay and allowances shall accrue from the commencement of the service of an employee, and shall become payable on the afternoon of the last working day of each month in respect of the service performed during the said month.
Provided that an employee proceeding on ordinary leave other than extraordinary leave for a period not less than one month may be paid in advance one month's pay and allowances if he applies therefor.
When not payable for part of a month
20. Pay and allowances shall not be payable for a part of a month to an employee who leaves or discontinues his service without due notice during a month, unless such notice has been waived by the competent authority.
When allowance to cease
21. Pay and allowances shall cease to accrue from the date as an employee ceases to be in service.
In the case of an employee dismissed, removed or compulsorily retired from the Board's service, the pay and allowances shall cease from the date of his dismissal, removal or compulsory retirement. In the case of an employee who dies while in service, they shall cease from the day following that on which the death occurs.
Admissibility of allowances
22. Allowances shall only be payable to employees who are actually at that time fulfilling the conditions subject to which they are admissible.
Compensatory allowance
23. Notwithstanding the fact that the whole-time of an employee is at the disposal of the Board, the Board may grant compensatory allowance, not counting as pay, to an employee who is required to work on holidays or to put in extra hours on week days in connection with the Board's work.
The rate at, and the circumstances in which such allowance may be drawn shall be determined by the Chairman.
Increments