Amendment status not verified — confirm the current text below against the official source.
Transfer of officers and other employees to the Government.— (1) Every officer or other employee who has been, immediately before the appointed day, employee by the Company in relation to its undertakings, shall become, on and from the appointed day, an employee of the Government, and shall hold office or service under the Government with the same remuneration and upon the same terms and conditions, with the same rights and privileges as to pension, gratuity and other matters as would have been admissible to him, if there had been no such vesting and shall continue to do so unless and until his employment under the Government is duly terminated or until his remuneration, terms and conditions of service are duly altered by the Government : Provided that, if the alteration so made is not acceptable to any such officer or other employee, his employment may be terminated by the Government on payment to him of an amount equivalent to three months' remuneration in the case of permanent employees and one month's remuneration in the case of other employees: Provided further that, nothing contained in this sub-section shall apply to any officer or other employee who has by notice in writing given to the Government within thirty days next following the appointed day intimated his intention of not becoming an officer or other employee of the Government. (2) Notwithstanding anything contained in the Industrial Disputes Act, 1947 (Central Act XI' of 1947) or in any other law for the time being in force, the transfer of the services of any officer or other employee, employed in the undertaking to the Government shall not entitle such officer or other employee to any compensation under this Act or any other law for the time being in force and no such claim shall be entertained by any court, tribunal or other authority.