2.13.19:Insolvency and Bankruptcy Board of India (Employees’ Service) Regulations, 2017

19. Increments.

(1) Every employee shall be entitled to an annual increment in the scale of pay applicable to the Grade.

(2) The increment shall be admissible on 1st January in case of an employee appointed or promoted during 2nd January and 1st July (both inclusive) of the previous year and on 1st July, in case of other employees.

(3) An increment shall not be withheld except as a disciplinary measure under regulation 51.

(4) The Board may grant stagnation increments to an employee who has reached the last stage in the scale of pay