Dear Sir/ Madam,
Can U pl. guide me what should I do....??
The brief of the case is given below:
I had resigned from the services of Small Industries Development Bank of India (SIDBI), set up on April 2, 1990 under an Act of Parliament, on 29-01-2010 to join another PSU company. At the time of resignation, I had 48 days of EL balanc left in my leave account.
SIDBI has the folowing policy regarding:
1. Every year 30 EL has been credited to the employee.
2. The employee can not encash more than 15 days of his EL in a particular year. (Thereby I can not apply for encash the same before the resignation).
3. EL balance will become Zero after the resignation of an employee; (he can not encash it even after exit nor it was adjusted towards the notice period),
Further I have to deposit 3 months salary to SIDBI for the notice period. In view of above it is clear that the provision no. 2 partially & no. 3is fully inconsistent with the Leave rule generally followed by the PSUs.
I view of above, Please advise:
1. What is the name & provisions of the Act which govern the levve rules in SIDBI?
2. Is SIDBI free to form its own Leave rules, despite it is inconsistence with the general provision of other Banks/ PSUs?
3. What is the way left for me to encash EL balance from the Bank?
Waiting for your suitable reply...