3rd Pay Revision for CPSE : Leave regulations/management
Leave regulations/management: CPSEs would be allowed to frame their own leave management policies and the same can be decided based on CPSEs operational and administrative requirements subject to the principles that:
a. Maximum accumulation of Earned Leave available are not permitted beyond 300 days for an employee of CPSE. The same shall not be permitted for encashment beyond 300 days at the time of retirement.
b. CPSEs should adopt 30 day’s month for the purpose of calculating leave encashment.
c. Casual and Restricted Leave will continue to be lapsed at the end of the calendar year.
16.Periodicity: The next pay revision would take place in line with the periodicity as decided for Central Government employees but not later than 10 years.
17. Financial Implications: Expenditure on account of pay revision is to be entirely borne by the CPSEs out of their earnings and no budgetary support will be provided by the Government.