LIC Assistant Salary | In Hand Salary, Perks, Job Profile: Life Insurance Corporation of India (LIC) is one of the leading Insurance providers in India and has a presence even in every corner of this country. LIC offers wonderful opportunities for deserving candidates. Candidates who are preparing for the LIC Assistant Examination must have to know the minimum eligibility and LIC Assistant Salary details. The Life Insurance Corporation of India determines the LIC Assistant Salary. Refer to the below article, and get the details of LIC Assistant Salary Structure, In Hand Salary, Perks and Benefits, Job Profile, and the LIC Assistant Career Growth.
LIC Assistant Salary Structure
The Salary Structure for the post of LIC Assistant is given in detail in a tabular form. And, the final gross basic pay is Rs. 40080 (without promotion). LIC Assistant employee’s initial basic pay after the 11th Bipartite Settlement is Rs. 27,840 per month with a pay scale of Rs.27,840-840(1)-28,680-915(2)-30,510-1030(5)-35,760-1195(2)-38150-1455(3)-42,515-1510(2)-45,535-1610(5)-53,585. Check out the additional allowances, gross salary, and deductions from the table given below.
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| LIC Assistant Salary Structure | |
| Earnings | Amount |
| Basic Pay | Rs. 27,840 |
| DA | Rs. 10,553.14 |
| DA (Arrears) | Rs. 176.27 |
| HRA | Rs. 1987.65 |
| Transport Allowance | Rs. 680 |
| Temp Cash Allowance | Rs. 800 |
| Cadre Spl. Allowance | Rs. 2000 |
| Tech Exam Allowance | Rs. 555 |
| Tech Exam Allowance (Arrears) | Rs. 555 |
| Gross Salary | Rs. 45,147.06 |
| Deduction | Rs. 6731.06 |
| Net Salary | Rs. 38416.00 |
LIC Assistant In Hand Salary
LIC offers to pay a good package for candidates who are selected for the post of LIC assistants, this reflects a good in-hand salary for the candidates. The in-hand salary is the final salary of the LIC assistant which he will receive every month in his bank account. The in-hand salary is calculated by adding all the perks and subtracting all the deductions to the basic pay.
LIC Assistant Salary – Perks & Benefits
Along with the diversified experience, the selected candidates will be offered many benefits from the Life Insurance Corporation of India. Below given are some perks and benefits which are included in the salary slip.
- House Rent Allowances (HRA): It depends on the job location of the employee. Based on location, if LIC Assistants are posted in metropolitan cities, big cities, or other places, the HRA can be 9%, 8%, or 7% of the LIC Assistant basic pay.
- Vehicle Loan (2-wheeler) as per rules
- City Compensatory Allowance (CCA): This depends on the job location and can be 4%, 3%, or 0% of the basic pay of LIC Assistant.
- Group Personal Accident Insurance
- Dearness Allowance (DA): This is revised quarterly based on the Consumer Price Index (CPI). It forms 40% of the basic pay. CPI depends on the inflation rate, due to which it shows frequent fluctuation. Hence, DA fluctuates frequently.
- Lunch Allowance
- Insurance Allowance: Group Personal Accident Insurance, Vehicle Loan (2-wheeler), etc. as per LIC rules.
- Defined Contributory Pension, Gratuity, etc.
LIC Assistant Salary – Deductions
There will be some deductions in the Salary for LIC Assistant. The detailed deductions are tabulated as below.
| Deductions | Amount |
| NPS-DCP Optees | Rs. 3825 |
| Mediclaim | Rs. 158.92 |
| New GI Scheme | Rs. 97 |
| GTIS’ 97 Rish Pr | Rs. 196 |
| Opynl Mediclaim | Rs. 613.92 |
| GID Premium | Rs. 1840 |
| SR A/C Credit | Rs. 0.22 |
| Total Deductions | Rs. 6731.06 |
LIC Assistant Job Profile
- Cashier, Customer Service Executive, Single Window Operator, and other clerical services
- Document handling
- Manage cash counters at LIC offices
- Handling transactions
- Public relation/ mitigation
- Back-end office work, account-related work, and recovery according to the work assigned to them by the manager
- Customer grievance and management of issues
LIC Assistant Salary Increments
Check out the increment cycle for the post of Assistant from this section. Like all good companies, the LIC also provides annual increments for deserving candidates. The increment cycle will stop at the maximum basic pay of Rs 53,585.
| S.No. | Basic Pay | Increments | Years |
| 1 | Rs. 27,840 (Initial Basic Pay) | Rs 840 | 1 year |
| 2 | Rs 28,680 | Rs 915 | 2 years |
| 3 | Rs 30,510 | Rs 1030 | 5 years |
| 4 | Rs 35,760 | Rs 1195 | 2 years |
| 5 | Rs 38150 | Rs 1455 | 3 years |
| 6 | Rs 42,515 | Rs 1510 | 2 years |
| 7 | Rs 45,535 | Rs 1610 | 5 years |
| 8 | Rs 53,585 (Max. Basic Pay) | Till retirement | |
LIC Assistant Probation Period
In the Government sector, there is a probation period for any employee. The probation period is the time for the selected candidate to become a permanent employee in the agency. For a LIC Assistant, the probation period will be 1 year and in some cases it may extend up to 2 years.
LIC Assistant Promotions and Career Growth
After the probation period, the candidate now can enjoy all the perks and benefits offered by the Life Insurance Corporation of India for a regular employee. The employees are promoted according to LIC’s internal requirements and employees’ experience and interests. The performance of all the candidates is evaluated regularly, and promotions are given accordingly to the eligible candidates. Finally, we can safely assume that the Salary and experience earned by working as LIC Assistant will be highly rewarding with excellent career growth. The timely increments and promotions will motivate the candidates who will work as LIC Assistant.
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