LIC Assistant Salary: Pay Scale, After Wage Revision, Salary Slip

LIC Assistant Salary – Salary Structure, After 5 Years, Job Profile, Promotion Details

The LIC Assistant Salary has been determined only by the Life Insurance Corporation of India. Interested candidates to work as a Assistant in LIC should familiarise themselves with the LIC Assistant Salary Structure & Job Profile. This article has exclusively drafted with the updated details of the LIC Assistant Salary Pay Scale, In-Hand, After Wage Revision, Allowances and Benefits, Job Profile & Promotion.

Govt Jobs Updates

Generally the LIC Assistant Recruitment has been done by the recruitment board at tha national level to recruit the most deserving candidates for the post of Assistant. Only after qualifying all the stages of selection including the medical examination will be provisionally allotted to the post. The LIC has provided an excellent pay scale along with benefits. Knowing the salary details motivates the candidates to passionate more about the job. That’s why here we have given all the details about the LIC Assistant salary and job profile. So candidates have a look at this blog and be aware of such details.

LIC Assistant Syllabus & Pattern

LIC Assistant Salary Structure – Pay Scale

As per the latest LIC Assistant Salary, the basic pay of a LIC Assistant (Clerk) is Rs 14,435/- per month on the scale of Rs 14,435-840(1) – 15,275-915(2) – 17,105-1030(5) – 22,255-1,195(2) – 24,645- 1,455(3) – 29,010 – 1,510(2) – 32,030 – 1,610(5 )- 40,080 and other admissible allowances as per rules.

  • House Rent Allowances (HRA)
  • City Compensatory Allowance (CCA)
  • Dearness Allowance (DA)
  • Insurance Allowance
  • Deductions(Pension, Tax)

LIC Assistant Salary In-Hand:

After various add ons and deductions inform of contribution towards pension schemes, taxes, etc gets a net amount which is based on basic pay. The difference between the gross and net salaries is that deductions from the gross salary such as pension, pay roll taxes etc. As per that, The LIC Assistant Salary In-Hand Ranges from Rs. 28,000 to 32,000 per month.

LIC Assistant Salary Per Annum:

The basic pay is given as Rs. 14,435 as per the 7th pay Commission. The gross annual package will be around INR 3 to 3.4 Lakhs per annum. Amounts at the minimum of the scale that includes graduation increments, rental allowances for houses and meal coupons wherever applicable, based upon the classification of the city will be approximately to Rs 30,000/- per month. The LIC Assistant Salary Per Annum will be in the range of INR 3 to 3.4 lakhs.

LIC Assistant Salary After Wage Revision:

LIC Assistant are comes under the Central Government Job. The candidates can enjoy all the benefits given to all the employees who work under the Central Government. The LIC Assistant Salary has been revised as per the 7th Pay Commission. So the LIC Assistant Salary after wage revision is approximately to Rs 30,000/- per month.

LIC Assistant Salary After 5 Years:

Years in Service Basic Pay Increment
For 1 year ₹13,150 ₹ 840
Next 2 years 15,275 ₹ 915
Next 5 Years 17105 1030
Next 2 years ₹ 22255  ₹ 1195
Next 3 years ₹ 24645 ₹ 1455
Next 2 years ₹ 29010 ₹ 1510
Next 5 years ₹ 32030 ₹ 1610
20 Years ₹ 40080(maximum Basic Pay)

LIC Assistant Salary and Allowances:

Along with the LIC assistant Salary, candidates will be entitled to the various allowances and benefits as per the LIC rules and regulations. The compensation and other benefits may vary depending on the location. Some of the allowances and benefits that are granted to LIC Assistants are given here below for your reference.

  • House Rent Allowances (HRA): This is determined based on the employee’s job location. If LIC Assistants are assigned to metropolitan cities, big cities, or other locations, the HRA can be as high as 9%, 8%, or 7% of the LIC Assistant basic pay.
  • City Compensatory Allowance (CCA): This varies by job location and can be as much as 4%, 3%, or 0% of the LIC Assistant’s basic income.
  • Dearness Allowance (DA): The Dearness Allowance is a quarterly adjustment based on the Consumer Price Index (CPI). It accounts for 40% of the base salary.
  • Lunch Allowance.
  • Insurance Allowance: Vehicle loan (2-wheeler), Group personal accident insurance,  and so on as per the LIC norms.
  • Defined Contributory Pensions, Gratuities, and Other Benefits.

LIC Assistant Probation Period

Candidates after the provisional allotment as LIC Assistant, will be undergone a probation period of 1 year from the date of joining. This period can be extended to up to 2 years. The probationary period is subject to changes. After the probation period, the LIC Assistant applicants will enjoy all the benefits and advantages of a regular employee.

LIC Assistant Job Profile

All candidates who wish to become a LIC Assistant must have the knowledge of the LIC Assistant Job Profile. Some of the major LIC Assistant Job Profile are given here below.

  • Dealing with customer complaints on a daily basis.
  • All insurance documentation documents are processed and analyzed, and their authenticity is checked.
  • Taking care of documents related to claims, accounts, settlements, etc.
  • Managing online/offline transactions.
  • There will be a probationary period of 6 months following the candidate’s appointment, which might be extended by 1 year.
  • Assisting in a variety of clerical tasks, including cashiering, operating single windows, providing customer service, etc.
  • Dealing with cash counters, processing files from Assistant Manager.
  • Assisting with back-office tasks.

LIC Assistant Promotion and Career Growth

LIC Assistant Salary not only attracts by its payscale, the promotion and career growth makes it too. Candidates are entitled with enormous career growth and promotion. As an employee of LIC, you will be promoted based on your expertise and interests in addition to LIC’s requirements. Your performance is continuously evaluated and you will be promoted accordingly. Those who perform well are promoted early.

  • It offers you time-based promotions.
  • Promotions are given according to employee performance and experience.
  • There is also a chance for promotion via Departmental exams.