Awards and Incentives

15.1.0 LONG SERVICE AWARD

15.1.1 Regular employees of the Corporation are eligible for the following awards for rendering good
and satisfactory service:

Period of Service Award

15 yrs An item of value of 5 gm Gold Coin (24 ct)
25 yrs An item of value of 10 gm Gold Coin (24 ct)
30 yrs An item of value of 20 gm Gold Coin (24 ct)
35 yrs An item of value of 20 gm Gold Coin (24 ct)

At the time of superannuation

Superannuating employees shall be entitled to a gift, an item of value of 25 gm Gold coin (24
ct) as Long Service Award provided they have actually rendered 10 years of good and
satisfactory service in the Corporation.

Note: 1. In the case of deputationists from Govt. agencies and other

organisations who have worked with the Corporation and were
subsequently absorbed in the service of the Corporation in
continuation of the deputation tenure, the deputation service will be
counted for the purpose of determining the eligibility for the award.

2. The training period put in by Graduate

Engineer/Officer/Management Trainees before their placement in
Grade ‘A’, shall be considered towards eligibility of Long Service
Award.The period of apprenticeship in respect of an apprentice who
has been appointed in the regular service of the Corporation in
continuation of such apprenticeship period will not be counted for the
purpose of determining eligibility for the award.

3. An employee granted voluntary retirement under IOC’s Voluntary

Retirement Scheme would also be eligible for long service award as in
the case of superannuation.

4. Determining eligibility in disciplinary cases:

(i) If an employee is under suspension or undergoing departmental

inquiry proceedings during the year in which the Long Service Award
or the award given at the time of superannuation is to be presented,
the employee shall not be considered eligible to receive the same till
the suspension/inquiry proceedings are completed.
(ii) If on conclusion of the inquiry proceedings, the employee is
exonerated, the serving employee shall be given the award on the
earliest due date of giving the award along with other eligible
employees. In case of a retired employee, the award shall be given
immediately.

(iii) If on conclusion of the inquiry proceedings the employee is awarded a

punishment, the award shall be given to him on the normal date of
giving the award in the next calendar year along with other eligible
employees. If a punishment is awarded to an employee in the calendar
 year in which he is due to superannuate, the award shall be given to
him any time in the next calendar year.

(iv) However, if a punishment was imposed any time in the past, prior to
the year in which the award is to be presented, the same will be
ignored while computing the eligibility period of service.
15.1.2 Procedure for presentation of awards

15.1.2.1 The Long Service Award will be presented in a function to be organized as per details
given below:

Long Service Presentation on the occasion Employees completing requisite

period of service
15 Years 15th August Between 1st August of the
previous year and 31st July of the
current year
25 Years 26th January Between 1st January and
31st December of the
previous year
30 Years 1st September (IndianOil Day) Between 1st September of
the previous year and 31st
August of the current year
35 Years - do - - do -

15.1.2.2 All the employees who are due to receive the award will be invited to the function.
Heads of the departments, senior managers, representatives of the local Unit Officers’
Association and Workers’ Union may also be invited to attend the function.

15.2.0 NORMS FOR PROMOTING SMALL FAMILY

15.2.1 Incentive

A personal pay equal to the amount of next increment due, or the increment last drawn for
those drawing the maximum pay in the scale, at the time of family planning operation
will be granted to the concerned employees.

In case of an employee who is drawing the maximum pay in the scale, the amount of
incentive would be equivalent to the Annual Increment(3%/3.5%/4% as the case may
be) that he would have last drawn (even if the actual amount of annual increment
drawn by him was less). Further, in case where employee is drawing Stagnation
Increment(s), the incentive amount payable would be Annual Increment (3%/3.5%/4%
as the case may be) that he would have drawn prior to the start of Stagnation
Increment (even if the actual amount of annual increment drawn by him at that time
was less).

The personal pay will remain fixed during the entire service and will not be absorbed in
future increases in the employee’s pay either in the same post or on promotion to
higher post, it will be payable from the first of the month following the date of operation.
 Note : The ‘personal pay’ admissible to employees for undergoing sterilisation
operation for promoting small family norms, would not be reckoned for
consequential benefits.

15.2.2 Eligibility

15.2.2.1 The employees or his spouse must be within the reproductive age group. In the case of
a male employee, this would mean that he should not be over 50 years and his wife
should be between 20 to 45 years of age. In the case of a female employee, she must
not be above 45 years and her husband must not be over 50 years of age.

Note : An employee is eligible for incentive under this Scheme only once during the
service period.

15.2.2.2 The incentive will be granted to the employees who themselves or their spouses
undergo sterilisation operation even when the couple has only one child.

SCHEME FOR GRANT OF SPECIAL AWARDS TO MERITORIOUS CHILDREN OF THE

EMPLOYEES

18.2.1.1. With a view to provide encouragement and induce them to further improve level of their
excellence, the Scheme for grant of Special Awards to meritorious children of employees has
been formulated for implementation w.e.f. 1.1.1991.

18.2.1.2 Benefits of the award for meritorious children will be applicable to regular employees
without any pay limit, including Centre/State Government servants on deputation to the
Corporation. The Scheme shall not be applicable to persons employed on contract basis or
persons paid from contingencies.

18.2.1.3 The award will be admissible for a maximum of two dependent children (of an employee)
in one academic year. The claim shall be preferred in the prescribed form (Annexure-7).

In case of employees who joined the services of the Corporation on the basis of letter of
appointment issued on or after 1.7.1988, the facilities under the Scheme shall be admissible to
two oldest children only.

18.2.1.4 Meritorious award should be presented with a merit certificate to the eligible children of
employees in a ceremony on a national day as per Annexure-8(a). Invitation to the children may
be given in the proforma as per Annexure-8(b) of the merit certificate.

18.2.2 Award - Percentage of Marks and Amount

The award will be by way of lump sum amount per eligible child who secures the specified
percentage of marks in aggregate in qualifying the recognised examinations as follows :

Group Duration Rate of Award(Rs.)

Examination/Course/Qualification
No. (in years) (on acquiring minimum % in aggregate
1000 1500 3000 5000
1 SSC / Matric -
(60%) (70%) (80%) (90%)
2 a) Intermediate / 12th - 1500 2000 3000 5000
 (60%) (70%) (80%) (90%)
1500 2000 3000 -
Min. of
b) Diploma after 10th / 11th / 12th
3 yrs.
(60%) (70%) (80%)
3 Bachelor's Degree in streams / disciplines of :-
2500 3000 3500
a) Arts / Humanities (including
-
B.Ed)
(60%) (65%) (70%)
2500 3000 3500
b) Commerce 3 yrs. -
(60%) (65%) (75%)
2500 3000 3500
c) Science -
(60%) (70%) (80%)
a) Bachelor's Degree in
disciplines other than
Arts/Humanities, Commerce and 3 yrs.
Science streams (on securing
4 minimum of 60% marks) 4500
b) Post-Graduate in Arts /
Humanities, Commerce and
2 yrs
Science streams (on securing
minimum of 60% marks)
a) Bachelor’s Degree (e.g. BE,
MBBS, etc.); or Integrated
course-(after 10+2) in any 4 yrs. or
discipline leading to award of more
Graduate degree (e.g.-BA-LLB,
BA-B.Ed., B.Sc.-B.Ed., etc.) 6000
b) Post-Graduate (PG) course
in disciplines other than Arts /
5 2 yrs. or
Humanities, Commerce and
more
Science streams (e.g.-MBA,
MCA, etc.)
c) Integrated course in any
discipline(after 10+2) leading to
direct award of a PG degree - 9000
(e.g. M.Sc.(Biotechnology),
Integrated M.Tech course, etc.)
CA / ICWA / ACS Inter* Final**
6 -
* PE-II - under CA program
4000 6000
** PE-Final under CA program
In addition to above, in case the student secures a rank in Board/ University Examinations, he
7
will be entitled for special merit awards as follows:-
Amount of Special
Board/University Rank Position
Merit Award
Gold Medal(24 ct)
Board examination 1st 10 positions
weighing 10 gms
For University examination (Graduate/Post-Graduate level), child is allowed the special award of Gold
Medal for securing rank subject to the following conditions:

• The child has to be eligible for cash reward under the scheme.

• The child secures the rank as under depending upon the students' strength:
i. If students' strength is between 10 to 19 : Ranking should be 1st Position.
ii. If students' strength is between 20 to 29 : Ranking should be in first 2 positions.
iii. If students' strength is between 30 to 39 : Ranking should be in first 3 positions.
iv. If students' strength is between 40 to 49 : Ranking should be in first 4 positions.
v. If students' strength is between 50 & above: Ranking should be in first 5 positions.
[Ref. CR No.6A/2008 dt. 21.02.2008]

8. The qualifying marks for children of employees belonging to SC & ST and children who are
physically handicapped will be 5% less in the aggregate percentage requirement specified above.

9. In respect of spastic/mentally retarded children the qualifying marks would be relaxed by 15%
subject to their disability having been certified by CMO of Refinery Hospital or a Neurosurgeon of
a Nominated Hospital.

18.2.3 Eligibility

18.2.3.1 The child for the purpose of the scheme means employees’ children (including step or
adopted child wholly dependent on the employee and below 30 years of age as on the last date
of examination).

18.2.3.2 There is no bar to the above award being granted in respect of employees on leave
(including extraordinary leave) or under suspension.

18.2.3.3 In the case of employees ceasing to be in service due to resignation/ retirement on

superannuation/voluntary or premature retirement/discharge/ dismissal/removal, the criterion for
determining whether a child is eligible to receive the award will be the date of the announcement
of result (with reference to the date of separation of the employee).

18.2.3.4 In case of death of an employee, his ward will be eligible for award within one year of the
death of the employee provided the ward had taken the examination (all papers) while the
employee was alive.

18.2.3.5 Children receiving scholarship/award from any other source will also be eligible.

18.3.0 SCHEME TO PROVIDE INCENTIVE FOR ACQUIRING HIGHER QUALIFICATIONS

18.3.1 Objective

With a view to encouraging employees acquire qualifications to enable them to improve their job
effectiveness through upgrading their educational standards, the Corporation provides incentive
by way of one-time lumpsum payment (to employees) in accordance with the following guidelines.
 18.3.2 Applicability and quantum of incentive

18.3.2.1 All employees of Refineries Division in any of the regular pay scales of the Corporation
who acquire additional qualifications mentioned under Group ‘A’, ‘B’ and ‘C’ will be paid a
lumpsum monetary incentive as indicated below :

Group Qualifications Amount of cash

Incentive(Rs)

‘A’ B.Tech/AMIME/AMIE/AMICE/AMIIM 15000/-

B. Arch
MBBS/MD/MS : Specialisation in any Branch of Medicine
MA in Personnel Mgmt & Industrial Relations
Masters in Social Work
Masters in Management Studies
Masters degree in Engineering/M.Tech.
Masters degree in Finance Mgmt/CA/ICWA/CS/ACS
Post Graduate Diploma in Personnel Management equivalent to
MBA(regular course).
Masters in Business Administration
Masters in Computer Applications
Degree/Post Graduate Diploma in Mass Communication & Public
Relations
Ph.D
‘B’ Diploma in Industrial Engineering Rs.10000/-
Diploma in Computer Management
Diploma in Petroleum Technology
Diploma in Instrumentation
Diploma in Systems Management
Diploma in Management Studies
Diploma in Marketing Management
Diploma in Personnel Management
Diploma in Social Work
Diploma in Clinical Pathology
Diploma in Industrial Safety
Diploma in HRD
Diploma in Training & Development
Diploma in Materials Management
Diploma in Shipping
Diploma in Advertising/Journalism/Mass Communication / Public
Relations
Diploma in Finance Management
Diploma in Catering/Hotel Management
Master/Bachelor in Library Science
Post Graduate/Graduation in Science/Arts/Law/
Commerce/Information Technology
DME(3 years)
Post MBBS Diploma in any branch of Medicines/ Surgery
Associate of Institute of Chemists (AIC)
PG DFA from ICFAI, Hyderabad
First Class Boiler Competency Certificate

Hybrid Certificate Programme on ‘Project Management’ organized

by IiPM in association with ‘Universitas 21 Global’ Singapore

‘C’ Trade Certificate from ITI/NCTVT/SSC 7000/-

Second Class Boiler Competency Certificate

18.4.0 SCHEME TO PROVIDE INCENTIVE FOR ACQUIRING CERTIFICATE TO

PROFICIENCY AS BOILER OPERATION ENGINEER(BOE)

18.4.1 Objectives

With a view to encourage employees to acquire certificate of proficiency as Boiler Operation

Engineer (BOE) from existing Electrical and Mechanical Engineers (including Diploma Holders) to
enable them to improve their job effectiveness and also to facilitate the job rotation of existing
BOEs, the Corporation provides incentive by way of one-time lump-sum payment to employees in
regular scales of pay in accordance with the following guidelines:

18.4.2 Applicability and Quantum of Incentive

18.4.2.1 All employees of the Corporation, in regular scales of pay who acquire certificate of
proficiency as Boiler Operation Engineer (BOE) as mentioned above will be paid one-time lump-
sum monetary incentive of Rs 25,000/- (cash). The Scheme is effective from 24.08.2006.

18.4.2.2. The monetary incentive will be payable only on successful completion of the prescribed
course of instructions leading to the employee acquiring the formal qualification. No interim or
advance payment will be made in this connection. Further, no payment will be due/payable for
undergoing part of the course of instructions or passing any intermediate examination.

18.4.2.3 For acquiring certificate of proficiency as Boiler Operation Engineer (BOE), the officer
would be entitled as under:

18.4.2.3.1 Fifteen days leave (to be regularized as Special Leave) for preparation, subject to the
condition of passing the examination.

18.4.2.3.2 Treating outstation visit, to appear for examination, as tour subject to the condition of
passing the examination.

18.4.2.3.3 Reimbursement of actual expenditure towards application money, registration fee and
examination fees.

18.4.2.3.4 The Corporation will facilitate the candidates by preparing/ coaching them for
examination by existing BOEs at the Training Centers of the respective Units without clashing.

Benefits
22.6.5.1 The following benefits shall be admissible to those permitted to separate under the
scheme:

i. Full Provident fund contributions of the employer with accretions thereto in the account
of the employee subject to the provisions of the PF rules applicable.
ii. Gratuity for each completed year of service or part thereof as admissible under the
gratuity rules applicable.
iii. Encashment of leave at the credit on the day of separation, in accordance with the laid
down rules.
iv. Resettlement concession comprising benefits as admissible on transfer for self and
family provided the employee avails settlement concession within 6 months from the date
of separation.
v. Ex-gratia payment equivalent to 60 days emoluments for each completed year of
service or the monthly emoluments at the time of retirement multiplied by the balance
months of service left before normal date of retirement on superannuation, whichever is
less (Training period put in by Graduate Engineer/Officer/Management Trainees before
their placement in Grade 'A' shall be considered towards Ex-gratia under VRS).
vi. Superannuation Benefits: Benefit will be admissible only to members who have served
for the minimum qualifying period and it will be calculated as for deemed superannuation
as on the date of separation, but payable from the notional date of superannuation.
vii. Post Retirement Medical Attendance Facility: Employees separating under the
voluntary retirement scheme who have attained the age of 50 years on the date of such
separation shall be covered under the provisions of the Post Retirement Medical
Attendance Facility, as amended from time to time, from the date of separation under the
voluntary retirement scheme.
viii. The facility of medical insurance (Annexure 6) will be available to those who separate
before completing 50 years of age. Upon attaining the age of 50 years, they will be
entitled to be covered under the provisions of the post retirement medical attendance
facility.

Part Three

ENTITLEMENT TO EMPLOYEES SEPARATING FROM SERVICE IN VARIOUS

CONTINGENCIES

22.7.1 The various entitlements available to employees separating from service of the
Corporation in different contingencies are given in tabular form on the following pages.Table 1

ENTITLEMENT AT THE TIME OF SEPARATION FROM SERVICE

IN VARIOUS CONTINGENCIES

Retirement on Resignation Termination in terms Termination, discharge or

superannuation of contract of service dismissal as a result of
disciplinary action.

Provident Fund/Family Pension

As per PF Rules As per PF Rules As per PF Rules As per PF Rules

Gratuity

As per Payment As per Payment of Gratuity As per Payment of As per Payment of

of Gratuity Rules, provided the Gratuity Rules, Gratuity Rules.
Rules, provided employee has rendered provided the
the employee minimum qualifying service employee has
has rendered of 5 years. rendered minimum
minimum qualifying service of
qualifying Transfer of gratuity amount 5 years.
service of 5 in respect of those
years. employees who have not
rendered the minimum
qualifying service of 5 years
can be effected to Govt.
Department/ another PSU
provided:

i. The Govt.
Department/ PSU
in which the
employee has
joined agrees to
accept the transfer
of gratuity amount
and make payment
when the employee
leaves that Govt.
 Deptt./ PSU.

ii) In case the gratuity

amount is not ultimately
paid to the employee
concerned for any reason
whatsoever, the transferred
amount shall be paid back
to the Corporation by the
transferee Govt.
Department/PSU.

Table 1 (Contd.)

Retirement on Resignation Termination in terms Termination, discharge or

superannuation of contract of service dismissal as a result of
disciplinary action.

Encashment of Leave

Full encashment i) EL available at the credit Same as in case of Not admissible.

of leave (EL & can be encashed provided resignation.
SL) would be that if the notice period falls
allowed. short of the notice required
to be given by the
employee, an equivalent
amount of EL available
should be adjusted against
the shortfall in the notice
period

ii) Full quantum of Sick

Leave commuted on full
pay basis is encashable in
case the employee resigns
after attaining the age of 50
years and rendering a
minimum of 20 years
service.

iii) Transfer of accumulated

EL & SL subject to
prescribed ceilings can also
be effected in respect of
employee who leave the
service and joins Govt. ---
Deptt./ another PSU. ---
 ---

---

Resettlement Concession

Resettlement Concession is Not admissible Not admissible Not admissible

admissible as in the case of tra-
nsfer provided the employee

a) has put in at least 5 years

continuous service on the date of
retirement.

b) avails of the concession within

6 months from the date of
retirement.

Retirement on superannuation Resignation Termination in Termination, dis-

terms of charge or dismissal as
contract of a result of disciplinary
service action.

The above benefit will also be

admissible to an officer
separating, after rendering
minimum 5 years tenure
appointment.

Note :

The reimbursement of expenses

incurred upto the prescribed
ceilings on travel and
transportation of personal effects
is subject to production of original
vouchers/ receipts as per TA
Rules.

Long Service Award

An item of value of 25 grams gold Not admissible Not admissible Not admissible
coin (24 ct). will be presented to a
superannuating employee
provided he has actually rendered
10 years of good and satisfactory
service in the Corporation.

Post- Retirement Medical Attendance Facility

An employee wishing to become Not admissible Not admissible Not admissible

a member is required to make
non-refundable one-time
contribution as per provisions of
the Scheme provided he has
rendered minimum 10 years of
service in IOC and /or Govt.
Department /another PSU.

Group Savings Linked Insurance Scheme

The member under As in the case of As in the case of As in the case of

GSLI scheme shall be retirement on retirement on retirement on
refunded his savings superannuation. superannuation superannuation
portion of the total
contribution paid
together with the
interest thereon.

Table 1 (Contd.)
Retirement on Resignation Termination in terms Termination, dis-
superannuation of contract of service charge or dismissal as
a result of disciplinary
action.

Superannuation Benefit Fund

Recurring benefit will Recurring benefit will An employee’s direct An employee’s direct
be payable to the be payable to the contribution as contribution as
member at the rate member only after percentage of salary percentage of salary
depending upon the attaining the age of without interest shall without interest shall
reckonable period of superannuation at the be refunded to him. be refunded to him.
service rendered in the rate depending upon
Corporation as per the reckonable period
provisions of the of service rendered in
scheme. the Corporation worked
out as per provisions of
the Scheme. The
minimum qualifying
service is 15 years
which shall include
minimum of 5 years
actual service and
contribution after
introduction of the
scheme for the purpose
of eligibility.

An employee resigning
without completing 15
years of qualifying
service in the
Corporation shall be
refunded his direct
contribution by way of
percentage of salary
with interest thereon at
the rate as decided by
the Management from
time to time.

Indian Oil Employees’ Welfare Cooperative Society Scheme

An employee’s share As in the case of As in the case of As in the case of

money and the entire retirement on retirement on retirement on
subscription paid as on superannuation. superannuation superannuation
date shall be refunded admissible
without interest.

LPG Security Deposit

Employee who have Employees who have As in case of As in the case of
availed deposit free availed deposit free LPG resignation. resignation.
LPG connection connection (including
(including DBC), DBC), while in service,
while in service, need will be required to pay the
not pay the security security deposit on LPG
deposit on LPG connection.
connection.

Table 2

Premature Voluntary Death in service

Retirement on Retirement
Medical Grounds

Provident Fund /Family Pension

As per PF Rules As per PF Rules As per PF Rules

Gratuity

Gratuity for each Gratuity for each The amount of gratuity payable will be as per the normal
completed year of completed year of provision (i.e 15/26 of the monthly emolument for each
service or part service or part completed year of service or part thereof in excess of 6
thereof as thereof as month limited to Rs.3.5 lakhs or as worked out below
admissible under admissible under whichever is more :
the Payment of the Payment of
Gratuity Rules. Gratuity Rules. During Ist year of service - 2 months’ emoluments

After 1 year but before 5 yrs - 6 months’ emoluments

After 5 years but before 20 Years service - 12 months’

emoluments

Service of 20 years or More - Half a month’s emoluments

for completed Half year of service subject to a maximum of
Rs.3.5 lakhs.

Encashment of Leave

Encashment of Encashment of Encashment of EL and SL at credit of the deceased

EL and SL at EL and SL at employee at the time of his death.
credit on the day credit on the day
of separation. of separation.

Resettlement Concession
Resettlement As in the case of The ‘family’ (as defined in TA Rules), of the deceased
con-cession Pre-mature employee is entitled to resettlement concession,
comprising Retirement on comprising benefits as admissible on transfer provided the
benefits as Medical Grounds. concession is availed within six months of the death of the
admissible on employee.
transfer for self
and family
provided the
employee avails
such concession
within 6 months
of the date of
separation.

Premature Retirement on Voluntary Retirement Death in service

Medical Grounds

Long Service Award

Not admissible Admissible as in the case of Not admissible

retirement on superannuat-
ion.

Post Retirement Medical Attendance Facility

The benefit will be extended
immediately after premature
retirement on medical
grounds.
The employees granted VR
on attaining age of 50 years
and above will be covered
with effect from the date of
separation. The facility of
Medical Insurance will be
available to those who
separate before completing
50 yrs of age. Upon attaining
the age of 50 years, they will
be entitled to be covered
under the provisions of the
PRMAS.
The benefit will be admissible to
the surviving female spouse of an
employee dying in service
(irrespective of the period of
service rendered by the deceased
employee) provided the benefit of
employment available to the
dependent of the deceased
employee has not been opt- ed for
and availed of. The benefit will be
extended immediately after the
death of the employee.

Superannuation Benefit Fund

Benefit will be admissible in
accordance with SBF
Scheme, calculated as for
deemed superannuation on
the date of separation and
payable from the notional
date of superannuation.
Benefit will be admissible only
to members who have served
for the minimum qualifying
period and it will be calculated
as for deemed
superannuation on the date of
separation and payable from
the notional date of
The female spouse or dependent
male spouse, as the case may be,
may opt within 6 months of the
death of the employee for any of
the three options available under
the Rehabilitation Scheme
annexed to SBF Scheme and
subject to other provisions of the
 superannuation. said Scheme.

GSLI/Group Insurance (in lieu of EDLI)

The member employee under
GSLI scheme shall be
refunded his savings portion
of the total contribution paid
together with interest.
The member employee under
GSLI scheme shall be
refunded his savings portion
of the total contribution paid
together with interest.
i) Under Group Insurance
Scheme, in the event of death of
an employee while in service, the
sum assured i.e. Rs.62,000/-
under the assurance on his life
shall become payable to the
person(s) nominated by the
employee under PF.

Table 2 (contd.)

Premature Retirement on Voluntary Retirement Death in service

Medical Grounds

ii) Under GSLI Scheme , the amount of risk

coverage shall be payable to the legal heir(s) of
the deceased employee as under :-

Grade Amount
C & above Rs.1,00,000
A and B Rs.75,000
IV to VIII Rs.50,000
I to III Rs.25,000

The above amount of risk coverage is payable in

addition to the saving accumulations together
with interest as on the date of death.

ii) In case of death due to accident, under Group

Personal Accident Policy the following amount
shall be payable to the nominee/ legal heirs as
under:

Grade Amount
C& above Rs.1,00000
A&B Rs. 75,000
IV to VIII Rs. 50,000
I to III Rs. 30,000

Indian Oil Employees’ Welfare Co-operative Society Ltd.

As in the case of retirement
on superannuation.
As in the case of retirement
on superannuation
Table 2 (contd.).
Premature Retirement on
Medical Grounds
Ex-gratia payment equivalent
to 1-1/2 months’ BP+DA for
each completed year of
service or the monthly
emoluments at the time of
retirement multiplied by the
balance months of service left
before normal date of
retirement on superannuation,
whichever is less. The
lumpsum ex-gratia payment
will be reduced by the amount
of compensation, if any,
received under the
Workmen’s Compensation
Act, 1923 or a corresponding
scheme of Corporation.
One month’s/ 3 months’
notice pay, as per the terms
of appointment applicable
As in the case of retirement
on superannuation
LPG Security Deposit
As in the case of retirement
on superannuation
Voluntary Retirement
Ex-Gratia Payment
Ex-gratia payment
equivalent to 60 days BP +
DA for each completed year
of service or the monthly
emoluments at the time of
retirement multiplied by the
balance months of service
left before normal date of
retirement on
superannuation whichever is
less.
Miscellaneous
A sum of Rs.750 per month shall
be payable to the nominee for a
period of 5 years from the date of
death of the member employee.
As in case of retirement on
superannuation.
Death in service
A lumpsum compensation
equivalent to 100 months’ Pay
(BP+DA) shall be payable to the
family of an employee who dies due
to an accident arising out of and in
the course of employment. The
amount so payable is exclusive of
compensation payable under the
Workmen’s Compensation Act,
1923. In other cases of death, no
ex-gratia is payable.
i. In case of death of an
employee at the place of
work while on duty, funeral
expenses upto an amount
of Rs.5000 for each such
case may be sanctioned by
D(R)/ED/GM. The above
limit is uniformly applicable
irrespective of whether a
funeral has to be arranged
 by the Corporation or
where the family claims the
body for arranging funeral
by themselves.

ii. The following authorities

may sanction grant for
incurring welfare expenses
in times of accidents
resulting in death :

ED/GM(Unit Head) - Full amount

GM - Upto Rs.15000 on each

Occasion

DGM - Upto Rs. 6000 on each

Occasion

iii. Salary of an employee may

be drawn in his favour for
the day of his death. For
this purpose, "day" will be
reckoned as beginning and
ending at midnight.

iv. Dues other than those in

respect of PF and Gratuity
of deceased employee may
be released to the
employee’s nominee(s) in
accordance with the
nomination made with
regard to such dues without
insisting on the succession
certificate.

Table 2 (contd.)

Premature Voluntary Death in service

Retirement on Retirement
Medical Grounds

v) The family of a deceased employee will be charged

the same electricity, water charges, etc. as applicable
immediately before the death of the employee. The
bereaved family will also continue to be extended the
facility of medical treatment at IOC’s
hospitals/dispensaries and other fringe benefits such
as bus facility, freeships or concessional fees in
schools, uniforms, etc. for the children. The facility
 would be available upto period not exceeding 4 months
at the rates applicable immediately before the demise
of the employee.

However, in case of genuine difficulties faced by the

family of a deceased employee retention of company
owned/company leased accommodation may be
extended further upto one year subject to approval of
Director on merits of each case. Recovery of rent for
the extended period of one year would be made @
1/3rd of the market value.

SUPERANNUATION BENEFIT FUND SCHEME

Benefits

25.5.1 The maximum benefit payable under the scheme to the superannuating
employee is @ 40% of the salary* (as respectively defined for
individual’s contribution as percentage of salary) for period of
guaranteed 15 years or death of the employee, whichever is later.

(*The salary of the employee as on 1.1.2003 will be frozen and

subsequent increase in the salary will be limited to a maximum of
7% every year or actual increase in salary, whichever is lower. For
the purpose of calculations benefit will be worked out on actual
salary as on 1.1.2003 and for the balance period beyond 1.1.2003,
the benefit will be worked out as per the said escalation formula)

25.5.2 32(full) years’ reckonable service should be completed by an employee

for drawing full benefit as in Clause 25.5.1 above. For reckonable
service of less than 32 years, the benefit would be proportionately
less. ( A service of 9 months will be deemed as full year’s service;
a service of 3 months or more but less than 9 months will be
deemed 1/2 year’s service ; a service of less than 3 months will not
be taken into reckoning).

25.5.3 In case of death or permanent total disablement of an employee while

in service, it will be construed that the employee had rendered full
32 years’ service for drawing full benefit as in Clause 25.5.1 above.
However, in the case of death/permanent disablement of a married
employee while in service, separate provisions for relief to spouse
as per the Rehabilitation Scheme vide Annexure-1, will apply.

25.5.4 In case of an employee in service where the spouse predeceases or dies

subsequently before opting for any option under Rehabilitation
Scheme (annexed to this scheme), the son/daughter of the family is
entitled to the maximum pensionary benefit only, i.e., 40% of the
 last salary. The son/daughter cannot exercise any of the other two
options under Rehabiliation Scheme.

25.5.5 In case of resignation, after rendering minimum 15 years of service,

employee will be entitled to pro-rata benefit provided he makes
contribution for at least 5 years. The rate of annuity shall be 1/80th
of the salary on the date of resignation for evey completed year of
reckonable service. The benefit shall be payable from the date on
which the resigning employee would have superannuated if the
employee is alive or from the date of death or permanent total
disablement if such a contingency takes place prior to the notional
date of superannuation.

25.5.6 Option to elect annuity offered by LIC

The superannuating/disabled employee or eligible dependent of deceased

employee, as the case may be, has the option to elect within two
months prior to due date for purchase of annuity, any one of the
following recurring benefits offered by LIC within the purchase price
of standard annuity option (i.e. life time of the member with
guarantee for 15 years). Option once exercised shall be final and
binding.

Option No. Period for which benefit is available

1. Life time of the member. After death of the

member, no benefit shall accrue to his
beneficiaries.

2. Life time of the member with guaranteed

benefit for 5 years.

3. Life time of the member with guaranteed

benefit for 10 years.

4. Life time of the member with guaranteed

benefit for 15 years.
(standard option).

5. Life time of the member with refund of the

principal annuity amount to the beneficiary at
the time of death of the member.

6. Joint life time of the member as well as his/her

spouse.
 7. Life time of the member with guaranteed
benefit for 20 years.

8. Joint life and pension to last survivor with

return of capital.

25.5.7 The member employee/eligible dependent has the option to commute

1/3rd of annuity at the time of purchasing the annuity, under which
1/3rd purchase price of annuity is payable by the Trust outright and
out of the balance purchase price, a reduced periodical benefit shall
be made available depending upon the option exercised.

25.5.8 The periodical payment of superannuation benefit can be made on

monthly, quarterly, half-yearly or yearly basis depending upon the
member’s choice.

25.5.9 The instalments of the superannuation benefit shall be paid by Delhi Divisional
Office of LIC to the beneficiary.

Compensation for Injuries by Accidents while on Duty

ENTITLEMENT UNDER IOC’S RULES

27.2.1 Employees of the Corporation including those covered under the Workmen’s
Compensation Act, 1923, who meet with accidents, while on duty, are also
considered for grant of compensation on merits under the IOC’s scheme of
lumpsum ex-gratia payment for injuries by accidents.

The facility may be extended when accidents have occurred while

commuting to and from place of work considering it as notional extension of
employment. The concerned Units / Offices may examine and forward such
cases, on case to case basis, depending on its merits, to Hqrs. for
consideration and approval of Director(R).

27.2.2 A lumpsum monetary compensation equivalent to 100 months’ Pay (BP+DA) shall
be payable in the event of an employee of the Corporation suffering death or
permanent total disablement due to an accident arising out of and in the
course of his employment. This lumpsum compensation would be exclusive
of any other legally admissible benefits.

Note: As per provisions of Workmen’s Compensation Act, 1923 :

i) Permanent total disablement shall be deemed to result from every
injury specified in Part I of Schedule I or from any combination of
injuries specified in Part II thereof, where the aggregate percentage
of the loss of earning capacity, as specified in the said Part II against
those injuries, amounts to one hundred percent or more.
ii) Total disablement must be of such a character that the person
concerned is unable to do any work and not only the work which he
 was doing at the time of the accident (i.e. he must be completely and
permanently incapacitated for further service of any kind in
consequence of his injury/disease).

27.2.3 In case of death of an employee, the lumpsum monetary compensation will be

payable to the nominee(s) of the employee as identified for the purpose of
provident fund.

27.2.4 The lumpsum monetary compensation will be exclusive of the compensation

payable, if any, under the Workmen’s Compensation Act, 1923 and received
under the Group Insurance Scheme.

27.2.5 In respect of an employee covered by the Workmen’s Compensation Act, 1923,

wherever it is mandatory to pay the compensation amount to the
beneficiary(ies) through an authority designated and identified under the Act,
only such of the amounts as have compulsorily to be paid through the
designated authority shall be paid through that authority. The balance
amount, if any, shall be paid by the Corporation direct to the beneficiary(ies)
as nominated by the employee.

27.2.6 Employee’ will mean an employee appointed in the service of the Corporation in
one of its regular scales of pay.

27.2.7 In case of any ambiguity or lack of clarity with regard to administration of this
scheme, decision of the Chairman shall be final.