The National Financial Reporting Authority (Manner of Appointment and other Terms and Conditions of Service of Chairperson and Members) Amendment Rule

The Central Government with the powers granted by sub-section (3) of section 132 of the Companies Act, 2013 (18 of 2013) introduced certain rules to amend the National Financial Reporting Authority (Manner of Appointment and other Terms and Conditions of Service of Chairperson and Members) Rules, 2018 on 28th February 2022.

HIGHLIGHTS

·????????The chairperson shall have an option to either receive a monthly salary of four lakhs fifty thousand rupees without any accommodation and transportation or the pay and allowances as are admissible to a Secretary to the Government of India. Every full-time employee shall have the option to receive a monthly salary of four lakhs or the pay and allowance as are admissible to an Additional Secretary to the Government of India. The pay of a Chairperson or a member shall be reduced by the gross amount of pension drawn by him if he chooses to exercise the option of receiving the pay as admissible by the Additional Secretary and is in receipt of monthly pension.

·????????Every full-time member who chooses to receive the pay as admissible by the Additional Secretary was in receipt of pay and allowances as are admissible to a Secretary before his pension as a full-time member, they shall be paid what he was drawing at the time of resigning their previous employment, not exceeding Rs. 2,25,000 per month.

·????????Every Chairperson or full-time member opting for pay and allowance admissible by Secretary or Additional Secretary of the Government of India shall receive house allowance similar to a Central Government officer holding a Group ‘A’ post carrying the same pay.

·????????Every Chairperson who is in occupation of a General Pool Residential Accommodation which has been allotted to him, shall be disentitled from receiving house rent allowance.

·????????A staff car for the purpose of official or private journeys shall be provided to any Chairperson or full-time member who opts for pay and allowances as are admissible to a Secretary or an Additional Secretary to the Government of India.

·????????The terms and conditions with respect to which no express provision has been made shall be applicable to a chairperson or a full-time member who has opted for pay and allowances as are admissible to a Secretary or an Additional Secretary to the Government of India as well as to a Central Government officer holding a Group ‘A’ post carrying the same pay

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Accesed ?233770.pdf (egazette.nic.in)