Aqui está o meu arquivo init - você pode tentar isso, verificar seus caminhos etc. estão corretos;
#!/bin/bash
#
# ntpd This shell script takes care of starting and stopping
# ntpd (NTPv4 daemon).
#
# chkconfig: - 58 74
# description: ntpd is the NTPv4 daemon. \
# The Network Time Protocol (NTP) is used to synchronize the time of \
# a computer client or server to another server or reference time source, \
# such as a radio or satellite receiver or modem.
### BEGIN INIT INFO
# Provides: ntpd
# Required-Start: $network $local_fs $remote_fs
# Required-Stop: $network $local_fs $remote_fs
# Should-Start: $syslog $named ntpdate
# Should-Stop: $syslog $named
# Short-Description: start and stop ntpd
# Description: ntpd is the NTPv4 daemon. The Network Time Protocol (NTP)
# is used to synchronize the time of a computer client or
# server to another server or reference time source, such
# as a radio or satellite receiver or modem.
### END INIT INFO
# Source function library.
. /etc/init.d/functions
# Source networking configuration.
. /etc/sysconfig/network
prog=ntpd
lockfile=/var/lock/subsys/$prog
start() {
[ "$EUID" != "0" ] && exit 4
[ "$NETWORKING" = "no" ] && exit 1
[ -x /usr/sbin/ntpd ] || exit 5
[ -f /etc/sysconfig/ntpd ] || exit 6
. /etc/sysconfig/ntpd
# Start daemons.
echo -n $"Starting $prog: "
daemon $prog $OPTIONS
RETVAL=$?
echo
[ $RETVAL -eq 0 ] && touch $lockfile
return $RETVAL
}
stop() {
[ "$EUID" != "0" ] && exit 4
echo -n $"Shutting down $prog: "
killproc $prog
RETVAL=$?
echo
[ $RETVAL -eq 0 ] && rm -f $lockfile
return $RETVAL
}
# See how we were called.
case "$1" in
start)
start
;;
stop)
stop
;;
status)
status $prog
;;
restart|force-reload)
stop
start
;;
try-restart|condrestart)
if status $prog > /dev/null; then
stop
start
fi
;;
reload)
exit 3
;;
*)
echo $"Usage: $0 {start|stop|status|restart|try-restart|force-reload}"
exit 2
esac
para verificar seu chamado no nível de execução correto que você precisa fazer chkconfig --add ntpd
e chkconfig ntpd on
e permitir executar priv com chmod +x ntpd