1. In exercise of the powers conferred by the proviso to Article 309 of the Constitution, the President is pleased to direct that the Rule 550(F) of Indian Railway Establishment Code Vol.I (1985 Edition) (Third Re-print Edition 2008) be amended as in the Advance Correction Slip No. 119 attached.
INDIAN RAILWAY ESTABLISHMENT CODE, VOLUME-I,
FIFTH EDITION-1985 ((Third Reprint Edition-2008)
ADVANCE CORRECTION SLIP No. 119
1. 550-F may be substituted with the following:
“(F) In case of permanent absorption in Public Sector Undertaking/Autonomous body wholly or substantially owned or controlled by the Central/State Government:
A railway servant who has been permitted to be absorbed in a service or post in or under a Corporation or Company wholly or substantially owned or controlled by the Central Government or State Government or in or under a body controlled or financed by one or more than one such Government shall be granted, suo moto, by the authority competent to grant leave cash equivalent of leave salary in respect of both leave on average pay leave on half average pay, if any, at the credit of the Railway servant on the date of absorption subject to a maximum of 300 days and the cash equivalent of leave salary payable shall be calculated in the same manner as provided for in sub-rule (A)(1)(b) of Rule 550”.