New Delhi, Jul 14 (PTI) Markets regulator Sebi has amended the services regulations, providing clarity on effective date of increment for employees once they get promotions. In case an employee is promoted before he or she has received the maximum of the incremental scale in the pre- promotion grade, then the next increment in the new grade would be same as the existing schedule. The norm would be applicable for employees promoted to a higher grade on or after November 1, 2012. "... before reaching the maximum of the incremental scale in the pre-promotional grade, the date of the next increment in the promotional grade shall be the date of increment as existing in the pre-promotional grade," Sebi said in a notification issued on Thursday. The regulator has notified the Sebi (Employees Service) (Third Amendment) Regulations, 2017.

Source: India Today July 14, 2017 13:18 UTC