Explanation:

About CVC

• The Central Vigilance Commission (CVC) is the main agency for preventing corruption in the Central government. 
• It was established in 1964 by an executive resolution of the Central government. Its establishment was recommended by the Santhanam Committee on Prevention of Corruption (1962–64).
• Thus, originally the CVC was neither a constitutional body nor a statutory body. 
• Later, in 2003, the Parliament enacted a law conferring statutory status on the CVC. 

Composition

• The CVC is a multi-member body consisting of a Central Vigilance Commissioner (chairperson) and not more than two vigilance commissioners.
• They are appointed by the president by warrant under his hand and seal on the recommendation of a three-member committee consisting of the prime minister as its head, the Union minister of home affairs and the Leader of the Opposition or the leader of the largest opposition party in the Lok Sabha. 
• They hold office for a term of four years or until they attain the age of sixty five years, whichever is earlier. After their tenure, they are not eligible for further employment under the Central or a state government.

Conditions of service

• The salary, allowances and other conditions of service of the Central Vigilance Commissioner are similar to those of the Chairman of UPSC and that of the vigilance commissioner are similar to those of a member of UPSC. 
• But they cannot be varied to his disadvantage after his appointment.