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New Doc 10-Jul-2023 3.06 PM

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20 views2 pages

New Doc 10-Jul-2023 3.06 PM

Uploaded by

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(To be stamped for appropriate value before execution’ Form of Indemnity Bond to be su y Apprentice Development Officer This DEED OF INDEMNITY is made at, con this, between Shri/SmuMs, se Sont daughter of Shri x aged. Years. residing a, herein referred to as Party of the First Part and Life Insurance Corporation of India having ils Central Office at "Yogakshema”, Jeevan Bima Marg, P.B.No. 19953, MUMBAI 400021 herein after referred to as “Corporation” as the Party of the Second Part. WHEREAS, 1, The Party of the First Part pursuant to his/her taking part in the selection process of the Recruitment for the post of Apprentice Development Officer and having been successful in the Recruitment process conducted by the Corporation, had been offered the appointment to the post of Apprentice Development Officer vide letter dated which party of the First Part do hereby accept with the following terms and conditions. 2, The Party of the First Part is aware that he/she would be placed on probation for a minimum period of ONE (1) YEAR, immediately after successful completion of Apprenticeship period , from the date of acceptance of appointment letter as Apprentice Development Officer, The said period can further be extended for a period of One year. The confirmation of the Party of the First Part will be subject to his/her satisfactory work record including Business Performance and conduct during the probationary period. 3. ‘The Party of the First Part is aware that from the date of appointment as Apprentice Development Officer, he/she will be governed by Life Insurance Corporation of India (Recruitment of Apprentice Development Officers) Regulations, 1999 as amended from time to time and from the date of probation he/she will also be governed by Life insurance Corporation of India (Staff) Rules,1960 and the Rules and Regulations framed by the Central Government - besides the administrative instructions, Amendment ete issued by the Corporation from time to time. As on the date of confirmation as Development Officer, in addition to what has been stated aforesaid, helshe will also be govemed by Life Insurance Corporation of India (Staff) Rules, 1960 now in foree and as amended from time to time -and - the provisions of Life Insurance Corporation of India Development Officers (Revisions of Certain Terms & Conditions of Service) Rules, 2009 as amended from time to time. The Party ofthe First Partisaware thatthe Corporation wouldbe incurring considerable expenses on training and imparting knowledge and ~ skill and that such taining , knowledge and skill ae to be utilized for the discharge of hisher duties as an Apprentice ‘Development Officer/PDO/Development Orficer of the Corporation and for the benefit of the Corporation only. 5. The Party of the First Part is aware that in the event of his/her leaving / resigning services of the Corporation within a period of Four Years from the date of joining as Apprentice Development Page 1 of 2 Ofticcedineluding apprenticeship period 1 for any reason whatsoever, the Corporation would b pat to tess in terms of money, loss in terms oF availability of knowledge and skill and therein sequiced to execute this bond 6. NOW the condition ofthis ond is that inthe eveut oF hither leaving ‘resigning the sersives the Comoration for whatsoever reason within a period of FOUR YEARS fiom the date wt joining ths post of Appremtice Development Otficcr (including Apprenticeship Peri the Party st ing g Pan gud the within | mamed Surety Shri ws Xcandtdrh Names 2

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