(1) Unless otherwise specified in these regulations, every employee shall become a member of the SEBI Employee's Provident Fund and shall agree to be bound by the Rules of the Fund.
(2) Notwithstanding anything contained in sub-regulation (1), every whole time employee joining the services of the Board, on and from such date, as may be specified, shall only become a member of the SEBI New Pension Scheme and shall agree to be bound by the Rules of the Scheme.
(3) Every whole time employee of the Board who is a member of the SEBI Employee’s Provident Fund, prior to such date as may be specified, shall be given an option to remain a member of the SEBI Employee’s Provident Fund or to become a member of the SEBI New Pension Scheme, in such manner as may be specified.]
Obligation to subscribe to the insurance scheme or fund instituted by the Board
95. It shall be incumbent on every employee bound by these Regulations to subscribe to any insurance scheme or fund that may be instituted by the Board for the benefit of its employees and their families and to be bound by the rules of the said scheme or fund;
Provided that nothing contained in this Regulation shall serve to curtail any superannuation benefits which may otherwise be admissible to an employee;
53 Substituted by SEBI (Employees' Service) (Amendment) Regulations, 2010, w.r.e.f. 28-3-
2003. Prior to its substitution, sub-regulations (2) read as under:
"(2) The amount of gratuity payable shall be determined by the Board from time to time.
Provided that where an employee has completed more than 30 years of service in the Board, he shall be eligible by way of gratuity for an additional amount at the rate of one half of a month's pay for each completed year of service beyond 30 years.
Provided further that the gratuity amount payable to an employee shall not be less than the amount payable under the payment of Gratuity Act, 1972."
54 Substituted SEBI (Employees' Service) (Amendment) Regulations, 2010, w.r.e.f. 28-3-2003.
Prior to its substitution, sub-regulations (3) read as under: "(3) Without prejudice to the subregulations (1) and (2), the Board may create a gratuity trust."
55 Substituted by SEBI (Employees’ Service) (Amendment) Regulations, 2013, w.e.f. 23.12.2003. Prior to substitution, it read as :
“Obligation to subscribe to the Provident Fund
94. Unless otherwise directed by the Board or the Chairman, every employee shall become a member of the SEBI Employee's Provident Fund and shall agree to be bound by the Rules of the Fund."
Provided further that nothing contained in this Regulation shall require an employee to subscribe to the said scheme or fund if he is exempted from so doing under the rules of the said scheme or fund.
Declarations to be signed by the employee
96. Every employee to whom these Regulations apply, or who exercises his option to come under them shall subscribe to declarations in Forms A to C.
SCHEDULE {Refer Clause (b) 56 [and clause (d)]of Sub Regulation (4) of Regulation (6)} Name of the Post Mode of Recruitment & proportion of posts to be filled up through different modes Age, Qualification & Experience for Direct recruits 57 [/Contract Recruits, wherever applicable] Length of service for Promotion Qualificatio n & Experience for Deputation Composition of the selection Committee Executive Director 58 [(a) Promotion;
(b) Deputation from Govt, RBI, Banks, Financial Institutions & Academic institutions;
(c) On contract basis.
2/3rd of the total posts from Not less than 40 years and not more than 59 [55] years.
MBA/MMS with specialisation in Finance / CA / CS /CFA / CWA / LLB / Post Graduation in Economics, Finance or any other discipline which in Promotion of internal candidates from Grade F with minimum of 3 years service.
Deputation from Govt.
(All India / Central Civil Service Group A), RBI, Banks, Financial Institutions, with not less than 20 years of experience Chairman 60 [,] 61 [] two other members of the Board 62 [and two external experts to be nominated by the Chairman] shall constitute the Selection 56 Inserted by the SEBI (Employees’ Service) (Third Amendment) Regulations, 2018, w.e.f. 13.08.2018.
57 Inserted by the SEBI (Employees’ Service) (Second Amendment) Regulations, 2017, w.e.f 17.5.2017 58 Substituted ibid.
59 Substituted by SEBI (Employees’ Service) (Amendment) Regulations, 2003, w.e.f. 23.12.2003. Prior to substitution, it read as : “(50)” 60 Symbol inserted by the SEBI (Employees’ Service) (Second Amendment) Regulations, 2017, w.e.f 17.5.2017 61 The word “and” omitted by the SEBI (Employees’ Service) (Second Amendment) Regulations, 2017, w.e.f
17.5.2017 62 Inserted ibid.
Name of the Post Mode of Recruitment & proportion of posts to be filled up through different modes Age, Qualification & Experience for Direct recruits 57 [/Contract Recruits, wherever applicable] Length of service for Promotion Qualificatio n & Experience for Deputation Composition of the selection Committee internal candidates and the remaining 1/3rd to be filled up by deputation/ contract.
In case of nonavailability in any category i.e. internal and deputation/ contract, the post may be filled from other categories.]
the opinion of the Board is useful, from a recognised University /Institution with a minimum of 20 years of post qualification experience in dealing with problems relating to securities market or special knowledge / experience of law, investigation, Finance, Economics, Accountancy, Administration or any other discipline in dealing with problems relating to securities market or special knowledge / experience of law, investigation , Finance, Economics, Accountancy , Administrati on or any other discipline considered useful to the Board.
Committee.
63 [***] In case of deputation from Govt. or other organisations, terms and conditions of deputation to be finalized in consultation with the lending organisation.
Grade D, E Deputation & Upper age 64 [45, 48 and 52] years for Grade D, E and F Promotion of internal candidates Candidate Must possess Minimum three 63 The words “The Recommendation of Selection Committee shall be placed before the Board before an appointment letter/deputation offer is made to the candidate.” omitted by the SEBI (Employees’ Service) (Third Amendment) Regulations, 2018, w.e.f. 13.08.2018.
64 Substituted by SEBI (Employees’ Service) (Amendment) Regulations, 2003, w.e.f. 23.12.2003. Prior to substitution, it read as : “(40, 43 and 47)” Name of the Post Mode of Recruitment & proportion of posts to be filled up through different modes Age, Qualification & Experience for Direct recruits 57 [/Contract Recruits, wherever applicable] Length of service for Promotion Qualificatio n & Experience for Deputation Composition of the selection Committee & F investigati on, finance, Internal Promotion.
respectively.
65 [Master’s Degree in any discipline, Bachelor’s Degree in Law, Bachelor’s Degree in Engineering from a recognized university, CA, CFA, CS, CWA for officers in the General Stream.
Bachelor’s Degree in Law from a recognized University/Institute for officers in the Legal Stream.
from Grade C,D,E respectively with minimum of 3 years service .
However, minimum 8 years Experience as an Officer is necessary for Considering the claim for promotion from Grade C to D.
not less than 11,14 & 17 years of experience for Grade D, E and F respectively in All-India / Central Civil Service as Group A officer or equivalent experience in RBI, Banks, Financial Institutions members - two internal and one external.
In case of deputation from Government or Other Organisations , terms and conditions of deputation to 65 Substituted by the SEBI (Employees’ Service) (Third Amendment) Regulations, 2018, w.e.f. 13.08.2018. Prior to the substitution, it read:
Masters Degree in Economics/ Commerce/Business Administration, Post Graduate Degree/ Post Graduate Diploma in Management with 55% marks in the aggregate, CA/CFA/CS/CWA for officers in General Stream.]
65 [Bachelors’ degree in Law from a recognized University / Institute with minimum 55% marks or LLM for legal stream.]
65 [Masters degree in Statistics/ Economics/ Commerce/ Business Administration (Finance)/ Econometrics with minimum 55% marks for officers in Research Stream. Candidates with a Doctorate in topics related to above subjects shall be given preference. Research or teaching experience and publication in standard journals will be considered as an additional qualification.]
[ 65 First class graduate in engineering (electrical/ electronics/ electronics and communication/ information technology/ computer science)/ Masters in Computers Application/ First class graduate in any discipline with post graduate qualification (minimum 2 years duration) in computers/ information technology for officers in Technical Stream (Information System).]
Name of the Post Mode of Recruitment & proportion of posts to be filled up through different modes Age, Qualification & Experience for Direct recruits 57 [/Contract Recruits, wherever applicable] Length of service for Promotion Qualificatio n & Experience for Deputation Composition of the selection Committee Master’s Degree in Statistics / Economics / Commerce / Business Administration (Finance) / Econometrics for officers in the Research Stream.
Bachelor’s Degree in Engineering (electrical/ electronics/ electronics and communication/ information technology/ computer science)/ Masters in Computers Application/ Bachelor’s Degree in any discipline with a post graduate qualification (minimum 2 years duration) in computers/ information technology for officers in Technical and academic Institutions.
The experience shall be in dealing with the problems relating to securities market, special knowledge / experience of law, investigation , finance, Economics, Accountancy , Administrati on or any other discipline considered useful to the Board.
be finalised in consultation with the lending organisation.
Name of the Post Mode of Recruitment & proportion of posts to be filled up through different modes Age, Qualification & Experience for Direct recruits 57 [/Contract Recruits, wherever applicable] Length of service for Promotion Qualificatio n & Experience for Deputation Composition of the selection Committee Stream.]
Grade A / B/ C Direct Recruitment and Internal Promotion.
Upto 66 [ 67 [30]/ 30/ 35 ] Years Qualification shall be as specified above for Grade ‘D’, ‘E’ and ‘F’.
68 [Minimum 4 years post Qualification experience for Grade C in the applicable field as an advocate or as an officer in reputed Institution Promotion of internal candidates from Grade A and B respectively with minimum of 3 years service.
-- Minimum three members - two internal and one external.
66 SEBI (Employees’ Service) (Amendment) Regulations, 2010, w.e.f. 17.02.2007. Prior to substitution, as inserted by SEBI (Employees’ Service) (Amendment) Regulations, 2003, w.e.f. 23.12.2003.it read as : “(30/35/40)”. Prior to substitution by SEBI (Employees’ Service) (Amendment) Regulations, 2003, w.e.f. 23.12.2003, , it read as : “(27/ 30/ 35)” 67 Substituted for “27” by the SEBI (Employees’ Service) (Third Amendment) Regulations, 2018, w.e.f. 13.08.2018.
68 Substituted by SEBI (Employees’ Service) (Amendment) Regulations, 2010, w.e.f. 17.02.2007. Prior to substitution, it read as : “(Minimum 2 /5/8 years post qualification experience in the applicable field as an advocate or as an officer in reputed Institution preferably in the area of financial services, stock exchanges and other self regulatory organisations or any such similar experience.
Name of the Post Mode of Recruitment & proportion of posts to be filled up through different modes Age, Qualification & Experience for Direct recruits 57 [/Contract Recruits, wherever applicable] Length of service for Promotion Qualificatio n & Experience for Deputation Composition of the selection Committee preferably in the area of financial services, stock exchanges and other self-regulatory organizations or any such similar experience.]
Secretarial Staff Direct Recruitment 69 [only through written examination] Upto 30 years Second class Bachelor's Degree from a recognized University and a Secretarial Diploma (having course duration of minimum six months) from a recognised Institute with good command over English language, minimum speed of 100 w.p.m.
in shorthand and 40 -- -- 70 [***] 69 Inserted by SEBI (Employees' Service) (Second Amendment) Regulations, 2016, w.e.f. 15-12-2016.
70 Words and symbols “Minimum three members – two internal and one external.” omitted by SEBI (Employees' Service) (Second Amendment) Regulations, 2016, w.e.f. 15-12-2016.
Name of the Post Mode of Recruitment & proportion of posts to be filled up through different modes Age, Qualification & Experience for Direct recruits 57 [/Contract Recruits, wherever applicable] Length of service for Promotion Qualificatio n & Experience for Deputation Composition of the selection Committee w.p.m. in typing.
Three years as Secretaries in reputed Organisations.
Should be wellversed in operation of Fax and Computers and must necessarily have experience of working with the latest packages i.e.
Windows NT and Office 99.
Accounts Assistant Direct Recruitment 71 [only through written examination] Upto 30 years Bachelor's Degree in Commerce with 55% of marks.
Minimum three -- -- 72 [***] 71 Inserted by SEBI (Employees' Service) (Second Amendment) Regulations, 2016, w.e.f. 15-12-2016.
72 Words and symbols “Minimum three members – two internal and one external.” omitted by SEBI (Employees' Service) (Second Amendment) Regulations, 2016, w.e.f. 15-12-2016.
Name of the Post Mode of Recruitment & proportion of posts to be filled up through different modes Age, Qualification & Experience for Direct recruits 57 [/Contract Recruits, wherever applicable] Length of service for Promotion Qualificatio n & Experience for Deputation Composition of the selection Committee years as counts assistant preferably in a Financial Institution.
Library Assistant Direct Recruitment 73 [only through written examination].
Upto 30 years Graduate in any discipline, with Bachelor's Degree (minimum 55% in the aggregate) in Library Science.
Minimum three years as Library Assistant preferably in a Financial Institution.
-- -- 74 [***] 75 [Junior Direct Upto 28 years - - 77 [***] 73 Inserted by SEBI (Employees' Service) (Second Amendment) Regulations, 2016, w.e.f. 15-12-2016.
74 Words and symbols “Minimum three members – two internal and one external.” omitted by SEBI (Employees' Service) (Second Amendment) Regulations, 2016, w.e.f. 15-12-2016.
75 Inserted by SEBI (Employees’ Service) (Second Amendment) Regulations, 2010, w.e.f. 12.10.2010.
Name of the Post Mode of Recruitment & proportion of posts to be filled up through different modes Age, Qualification & Experience for Direct recruits 57 [/Contract Recruits, wherever applicable] Length of service for Promotion Qualificatio n & Experience for Deputation Composition of the selection Committee Secretarial Assistant Recruitment 76 [only through written examination] Qualification shall be as specified above for Secretarial Staff Junior Accounts Assistant Direct Recruitment 78 [only through written examination] Upto 28 years Qualification shall be as specified above for Accounts Assistant - - 79 [***] Junior Library Assistant Direct Recruitment 80 [only through written examination] Upto 28 years Qualification shall be as specified above for Library Assistant - - 81 [***] 82 [Junior Engineer Direct Recruitment 83 [only through written Up to 28 years Diploma in any engineering stream as may be required by the Board from time to time - - 84 [***] 77 Words and symbols “Minimum three members – two internal and one external.” omitted by SEBI (Employees' Service) (Second Amendment) Regulations, 2016, w.e.f. 15-12-2016.
76 Inserted by SEBI (Employees' Service) (Second Amendment) Regulations, 2016, w.e.f. 15-12-2016.
78 Inserted by SEBI (Employees' Service) (Second Amendment) Regulations, 2016, w.e.f. 15-12-2016.
79 Words and symbols “Minimum three members – two internal and one external.” omitted by SEBI (Employees' Service) (Second Amendment) Regulations, 2016, w.e.f. 15-12-2016.
80 Inserted by SEBI (Employees' Service) (Second Amendment) Regulations, 2016, w.e.f. 15-12-2016.
81 Words and symbols “Minimum three members – two internal and one external.” omitted by SEBI (Employees' Service) (Second Amendment) Regulations, 2016, w.e.f. 15-12-2016.
82 Inserted by SEBI (Employees’ Service) (Second Amendment) Regulations, 2012, w.e.f. 02.05.2012.
83 Inserted by SEBI (Employees' Service) (Second Amendment) Regulations, 2016, w.e.f. 15-12-2016.
84 Words and symbols “Minimum three members – two internal and one external.” omitted by SEBI (Employees' Service) (Second Amendment) Regulations, 2016, w.e.f. 15-12-2016.
Name of the Post Mode of Recruitment & proportion of posts to be filled up through different modes Age, Qualification & Experience for Direct recruits 57 [/Contract Recruits, wherever applicable] Length of service for Promotion Qualificatio n & Experience for Deputation Composition of the selection Committee examination] 85 [Omitted Omitted Omitted -- -- Omitted Messenger Direct Recruitment Upto 30 years VIII Standard -- -- 86 [***] Cook Direct Recruitment 87 [only through written Upto 30 years VIII Standard 88 [***] 85 Omitted by SEBI (Employees’ Service) (Amendment) Regulations, 2010, w.e.f. 30.01.2008. Prior to omission, it read as following:
[Receptioni st - cum – Telephone Operator Direct Recruitment 85 [only through written examination] Upto 30 years Graduate in any discipline in pass class, Diploma in Front Office Management and Telephone Operator Course. Minimum 3 years as a Receptionist – cum – Telephone Operator in reputed Institutions, preferably in Financial Institution.
Should be well versed in operation of EPABX System, telex / fax / Xerox machine etc.
-- -- Minimum three members - two internal and one external.]
86 Words and symbols “Minimum three members – two internal and one external.” omitted by SEBI (Employees' Service) (Second Amendment) Regulations, 2016, w.e.f. 15-12-2016.
87 Inserted by SEBI (Employees' Service) (Second Amendment) Regulations, 2016, w.e.f. 15-12-2016.
88 Words and symbols “Minimum three members – two internal and one external.” omitted by SEBI (Employees' Service) (Second Amendment) Regulations, 2016, w.e.f. 15-12-2016.
Name of the Post Mode of Recruitment & proportion of posts to be filled up through different modes Age, Qualification & Experience for Direct recruits 57 [/Contract Recruits, wherever applicable] Length of service for Promotion Qualificatio n & Experience for Deputation Composition of the selection Committee examination] Driver Direct Recruitment 89 [only through written examination] Upto 30 years VIII Standard -- -- 90 [***] Messenger Cum - General Assistant Direct Recruitment 91 [only through written examination] Upto 30 years VIII Standard -- -- 92 [***]
1. General / Relaxation :
a) In the event of non-availability of adequate number of candidates for interview, the minimum eligible service of three years for promotion to the next higher grade or post may be relaxed by the competent authority upto a period not exceeding six months.
b) The crucial date for determining the upper age limit specified in the schedule shall be the date indicated in the advertisement.
c) The upper age limit may be relaxed by the Competent Authority upto a maximum of three years for the reasons to be recorded in writing, if in the opinion of the Competent Authority sufficient 89 Inserted by SEBI (Employees' Service) (Second Amendment) Regulations, 2016, w.e.f. 15-12-2016.
90 Words and symbols “Minimum three members – two internal and one external.” omitted by SEBI (Employees' Service) (Second Amendment) Regulations, 2016, w.e.f. 15-12-2016.
91 Inserted by SEBI (Employees' Service) (Second Amendment) Regulations, 2016, w.e.f. 15-12-2016.
92 Words and symbols “Minimum three members – two internal and one external.” omitted by SEBI (Employees' Service) (Second Amendment) Regulations, 2016, w.e.f. 15-12-2016.
number of candidates with the prescribed age limit is not likely to be forthcoming and high academic and professional qualifications and experience of the candidates deserve consideration of such candidates.
d) 93 [d)The Board may, after recording the reasons in writing, relax the minimum qualifications and experience required for various posts.]
2. Reservations:
a) Reservation, relaxation of age limit and other concessions required to be provided for candidates belonging to the Scheduled Caste, Scheduled Tribes, other backward classes, Ex-Service men and other special categories of persons shall be as applicable in terms of orders/guidelines etc. issued by the Central Government from time to time.
b) In every selection committee constituted for the purpose of the recruitment, an officer of appropriate rank belonging to the Scheduled Caste or Scheduled Tribe may also be inducted as a member in case no member of selection committee belongs to Scheduled caste or Schedule Tribe.
3. Advertisement of Vacancies:
Vacancies in the Board to be filled by direct recruitment 94 [, not being campus recruitment] shall be notified in the following manner:
a) In relation to direct recruitment of posts except as specified in clause (b) below, it shall be notified by advertisement in atleast three leading daily national news papers, with a view to cover the maximum area of the country.
b) In relation to such posts to which the law relating to employment exchanges is applicable, by notifying the concerned employment exchange with a request to nominate five candidates against each vacancy. In case, the candidates nominated by the employment exchange fail to satisfy the requirement of selection, the vacancies shall be filled subject to the provisions of the law applicable to such employment exchanges, by issuing advertisement as per Clause (a) above.
4. Medical Fitness and Verification of Antecedents on initial appointment in the Board:
a) A candidate, except in the case of appointments by deputation or by promotion, will be required to undergo medical tests as per prescribed standards to satisfy the appointing Authority of his medical fitness.
b) The antecedents of a candidate, except in the case of appointments by deputation or by promotion, will be verified as per the prescribed procedure and the said verification shall be completed during the period of probation.
93 Inserted by SEBI (Employees’ Service) (Amendment) Regulations, 2010, w.e.f. 10.11.2003.
94 Inserted by SEBI (Employees’ Service) (Amendment) Regulations, 2010, w.e.f. 17.02.2007.