The Insolvency and Bankruptcy Code, 2016
IBBI (Employees’ Service) Regulations, 2017
Chapter IV – Pay, Allowances and other Beneffits
Regulation 20: Fixation of pay on promotion.
20. The pay of an employee promoted to a higher Grade shall be fixed at the stage in the higher scale of pay which is next above his pay he was drawing in the earlier scale.
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