The salary offered by LIC for the position of Assistant stands out as one of the most competitive in the insurance sector. Being a prominent public sector insurance company, Life Insurance Corporation (LIC) presents excellent career prospects for aspirants. The salary package, coupled with enriching job profiles and learning opportunities, makes it an attractive option for many. With the recent revision in the salary structure, the basic pay for LIC Assistant stands at Rs. 38,675 per month, a figure that commands attention. Understanding the revised salary structure, along with associated perks and deductions, is crucial for effective financial planning. This article delves into the details of LIC Assistant Salary for the year 2024 and sheds light on the job profile.
LIC Assistant Salary Overview
For individuals contemplating a career at LIC or those already part of the workforce, having a clear understanding of the salary structure aids in making informed decisions regarding career progression. Here’s a concise overview of LIC Assistant Salary for 2024, along with key details about the LIC Assistant Exam:
| Details | Information |
|---|---|
| Organization | Life Insurance Corporation of India |
| Exam Name | LIC Assistant Exam 2024 |
| Post | Assistant |
| Category | Salary |
| Selection Process | Prelims, Mains, Interview |
| Vacancy | Varies Every Year |
| Job Location | All across India |
| Application Mode | Online |
| Initial Basic Pay | Rs. 38,675/- |
| Official Website | www.licindia.in |
LIC Assistant Salary Structure 2024
The salary structure for LIC Assistant post the latest revision stands as follows:
| Earnings | Amount |
|---|---|
| Basic Pay | Rs. 38,675 |
| DA (50%) | Rs. 19,337.50 |
| 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. 64766.42 |
| Deduction | Rs. 6731.06 |
| Net Salary | Rs. 58,000 (approx.) |
Deductions from LIC Assistant Salary 2024
The deductions made from LIC Assistant Salary are as follows:
| Name of the 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 |
Increments and Career Growth
Employees designated as LIC Assistants receive regular increments, with the maximum limit being the basic pay, details of which will be announced soon. Increment cycles continue until the employee reaches retirement age.
Perks and Allowances
Apart from the salary, LIC Assistants also enjoy various perks and allowances including but not limited to:
- Cash Medical Benefit
- Group Medi-claim
- Group Personal Accident Insurance
- Vehicle Loan (2-wheeler) as per rules
- Graduation Increment
- House Rent Allowance & City Compensatory Allowance
- Defined Contributory Pension
- Gratuity
- LTC
LIC Assistant Job Profile
The job profile of an LIC Assistant involves providing administrative support across various departments within LIC. Key responsibilities include:
- Performing duties of Clerical Staff such as cashier, single window operators, customer service executives, etc.
- Managing cash counters and processing files assigned by the Assistant manager.
- Handling back-office work, account-related tasks, and grievance redressal.
- Processing and reviewing insurance documentation.
- Managing sales documents and other policy-related paperwork.
- Handling online/offline transactions.
Career Growth
LIC Assistant position offers ample opportunities for career advancement. During the probationary period, employees are expected to demonstrate their competency. Promotions are based on performance and experience, with options for departmental exams to qualify for higher positions.
FAQs
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