• Written By Varsha
  • Last Modified 25-01-2023

LIC Assistant Salary 2022: Pay Scale & Allowances

img-icon

LIC Assistant Salary 2022: LIC Assistant 2022 Notification will be released soon on the official website. Candidates preparing for the LIC Assistant must be fully aware of the pay scale, allowances and promotions. There is a huge competition for LIC Assistant post as working under LIC is considered to be highly prestigious in society due to the salary and facilities provided by the LIC.

Knowing the LIC Assistant Salary Scale will help candidates keep themselves motivated toward LIC Assistant Preparation. In this article, we will provide you with all the necessary information regarding LIC Assistant Salary in hand, LIC Employees wage revision, job profiles, and benefits of working as an Assistant under LIC.

LIC Salary Structure

LIC employees wage revision has been given below. The basic pay and maximum in-hand salary are given. Basic pay of Rs. 14435/- per month on a scale of Rs. 14435-840(1)-15275-915(2)-17105-1030(5)-22255-1195(2)-24645-1455(3)-29010-1510(2)-32030-1610(5)-40080 and other admissible allowances as per rules. LIC employees salary hike along with the other beneficiaries are given here in the following sections of this article:

  1. Initial Basic Pay – Rs 14435 with a yearly increment of Rs 840 for 1 year
  2. Rs 15275 and a yearly increment of Rs 915 for the next two years
  3. Rs 17105 and a yearly increment of Rs 1030 for the next five years
  4. Rs 22255 and a yearly increment of Rs 1195 for the next 2 years
  5. Rs 24645 and a yearly increment of Rs 1455 for the next three years
  6. Rs 29010 and a yearly increment of Rs 1510 for the next two years
  7. Rs 32030 and a yearly increment of Rs 1610 for the next five years
  8. Rs 40080(maximum Basic Pay)

LIC Assistant Salary: LIC Assistant Allowances, Emoluments & Benefits

Apart from LIC Assistant Basic Pay, LIC Assistants will enjoy various perks. The list of LIC Assistant allowances, emoluments, and benefits offered by LIC are listed below:

  • House Rent Allowance – The HRA depends upon the job location. Based on whether the LIC Assistants are posted in metropolitan cities, big cities, or other locations, the HRA can be 9%, 8%, or 7% of the LIC Assistant Basic Pay.
  • City Compensatory Allowance (CCA) – This too depends upon the job location and can be 4%, 3%, or 0% of the LIC Assistant Basic Pay.
  • Dearness Allowance (DA) – The DA is revised quarterly based on the Consumer Price Index. This component of LIC Assistant Salary forms around 40% of the Basic Pay. Since CPI depends upon inflation rates, the DA can increase or decrease based on that.
  • Lunch Allowance – Meal coupon will be approximately Rs 30,000/- per month in ‘A’ Class city.
  • Insurance Allowance – Group Personal Accident Insurance, Vehicle Loan (2-wheeler) as per rules, etc.
  • Defined Contributory Pension, Gratuity, LTC.

LIC Assistant Salary: LIC Assistant Job Profile

The work profile or job profile of LIC Assistant is given below:

  1. Assistants are responsible to perform various duties of Clerical Staff including Cashier, Single Window Operator, Customer Service Executive, etc.
  2. The main role of Assistants is to manage cash counters, processing and sanctioning or disbursement of files and assigned by the Assistant manager.
  3. LIC Assistants must also perform back-office works, Account related work, and recovery as per the work assigned by the manager.
  4. LIC Assistants must dispense with customer grievances.
  5. They have to be responsible for processing and reviewing insurance documentation and ensuring that all documents are complete.
  6. Required to Manage Sales documents & other documents related to policies, claims, settlements, accounts, etc.
  7. The Assistants have to handle online/ offline transactions.
  8. Once appointment as Assistant shall be on probation for a period of six months from the date of appointment which can be extended up to one year.
  9. It is only after the successful completion of the probation period, the Trainees are to be appointed to their respective positions.

LIC Assistant Salary: LIC Assistant Promotions

LIC assistants are also transferred to other departments depending upon internal requirements as well as the interest of the employees. Employees get promotions based on their years of experience and performance. Employees may also give Departmental examinations and get promoted to higher posts.

Now that you are provided with all the necessary information regarding LIC Assistant Salary 2022 job description, roles and responsibilities, promotions, and career advancements. Go through the LIC Assistant Syllabus and LIC Assistant exam pattern. Finish the whole syllabus in the most effective way and master each and every topic. Also, take LIC Assistant Prelims Mock Test, to score better in the upcoming exam.

Also Check, LIC Assistant Mains
LIC Assistant Prelims

FAQs on LIC Assistant Salary

Following are some of the frequently asked questions on wage revision of LIC employees and more:

Q. What is the starting salary of a LIC assistant?

A. The basic pay of a LIC Assistant (Clerk) is Rs. 14435/- per month on the scale of Rs. 14435-840(1)-15275-915(2)-17105-1030(5)-22255-1195 (2)-24645-1455(3)-29010-1510(2)-32030-1610(5)-40080 and other admissible allowances as per rules.

Q. What is the revised salary?

A. Salary revision is the process of modification of the entire salary structure including all primary components. This is where it differs from a salary hike in which an increment can be related to only one component of the entire salary structure.

Q. What is the highest salary in LIC?

A. Highest reported salary offered at LIC is ₹50lakhs. The top 10% of employees earn more than ₹26lakhs per year. The top 1% earn more than a whopping ₹50lakhs per year.

Q. What are the other benefits along with LIC Assistant Salary?

A. The candidates will be provided with the DA, HRA, and other benefits that are mentioned in the above article.

Q. Is LIC assistant a central govt job?

A. It is not a Central Govt Job, but a job in Public Sector Corporation whose shares are vested in Central Govt. LIC being a PSU, all the employees of LIC are public sector, undertaking employees.

Q. Is LIC Assistant better than a bank clerk?

A. The difficulty level of both the Prelims & Mains of both IBPS Clerk & LIC Assistant would more or less be the same. As both are clerical exams, the difficulty level of questions would be moderate.

We hope this detailed article on LIC Assistant Salary helps you. If you have any queries regarding this article on LIC Assistant Salary, drop your questions in the comment box below and we will get back to you as soon as possible.

Unleash Your True Potential With Personalised Learning on EMBIBE