Sebi staff can't be sent on deputation, external assignment against will

Putting in place new norms, Sebi has said that its employees would not be sent on deputation or on external assignment against their will.

The regulator has amended its employee regulation.

An employee of the board may be sent on deputation or on external assignment to serve under any other employer. However, the employee shall not be sent against his or her will, the regulator said in a notification dated May 31.

This is subject to the approval of the Sebi and should be in accordance with such terms and conditions as may be specified by it from time to time.

Deputation means temporary posting to another organisation wherein the accrual and disbursement of remuneration including pay, allowances and perquisites would be borne by the borrowing organisation.

On the other hand, external assignment means the temporary posting to another organisation, including secondment, tour of duty and staff exchange programme, wherein the accrual and disbursement of remuneration including pay, allowances and perquisites would be borne by Sebi.