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LIC Assistant Salary 2021: Know detailed in-hand salary, payscale, career growth, and job profile

Safalta Expert Published by: Deepesh Mehra Updated Mon, 19 Jul 2021 07:01 PM IST

Highlights

LIC Assistant Salary 2021-  get information on  in-hand salary, pay scale, career growth, and job profile. Start preparation for LIC Assistant.
Source: safalta.com
Life Insurance Company, is the most renowned state owed insurance company in India. LIC each year conducts examination to recruit candidates for the post of assistant. Interested candidates should know various details the examination and post. Candidates should have beforehand knowledge on salary, career prospects and job profile. It is always beneficial in deciding career options and making future plan. LIC is a prestigious organization known for standard of work, vastness of customer base and ethical culture within the organization. Working is such organization is matter of respect and remunerations being a top Government owned enterprise are lucrative. In this article we have covered LIC Assistant Salary details like – in – hand salary, allowances and other details.  Candidates must also make themselves aware about exam pattern and syllabus details along with eligibility criteria.

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LIC Assistant Salary

Salary structure of candidates recruited in LIC is as per 7 th pay commission. Candidates are paid various allowances, benefits and perks along with salary. The LIC Assistant Salary one of the best in class and other benefits along with learning and growth opportunities make it a rewarding career option.

LIC Assistant – In-hand salary

LIC assistant after various add ons and deductions inform of contribution towards taxes, pension schemes etc; gets a net amount which is based on basic pay. As per our studies and knowledge LIC Assistant salary is computed to be INR 28,000 to INR 32,000 per month, as in- hand salary.
 

LIC Assistant – Salary Structure

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.  The gross annual package will be around INR 3 to 3.4 Lakhs per annum.

LIC Assistant – Allowances

As per the mandate of 7 th pay commission, government employees are paid various allowances. Allowances are add on to basic salary, they are meant to cover rising living standards, hedge against inflation and provide remuneration for official work. Allowances to an extent ensure hassle free work condition for employee. The allowances as a part of LIC Assistant salary are covered below:
  • 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.
  • City Compensatory Allowance (CCA): This depends on the job location and can be 4%, 3%, or 0% of the basic pay of LIC Assistant.
  • 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

LIC Assistant Probation Period

 Candidates must note that LIC Assistants have a probation period of 1 year from the date of joining. Probation period is the time period for learning and assessment for work. Probation period can be extended to 2 years as per government rules. After completion of probation period candidates are eligible for all the benefits.
 

LIC Assistant – Job profile and Career Growth

It is also important for candidates aspiring for appear for LIC Assistant Exam to know about the job profile of LIC Assistant. The responsibilities of LIC Assistant include the following:
  • Work as  Cashier, Single Window Operator, Customer Service Executive, and other clerical services.
  •  Manage cash counters at LIC offices.
  •  Perform back-office work, account-related work, and recovery according to the work assigned to them by the manager.
  • Customer grievance and management of issues
LIC conducts internal promotional exams at regular intervals. Candidates who pass these exams are promoted to higher positions. As positions increase, candidates' salary also increases with promotions. The LIC Assistant can get promoted based on performance and internal review. Candidates with promising work and learning get promoted early.
 

LIC Assistant  Salary FAQs

Ques 1: How much does a LIC Assistant  make per month?

Ans 1:  A LIC Assistant makes at least INR 28,000 to INR 32,000 per month

Ques 2:What is the basic salary of a LIC Assistant ?

Ans 2: The basic salary of a LIC Assistant is Rs. 14435/- per month.

Ques 3:Which is the minimum pay scale for a LIC Assistant ?

Ans 3: The minimum pay scale for a LIC Assistant is a pay 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

Ques 4:Do you get a salary after the LIC Assistant  exam?

Ans 4: No salary is only received once the candidate joins the department as a LIC Assistant.

Ques5: Is there any career growth for the LIC Assistant?

Ans 5: Yes, they are promoted based on internal review, seniority and work performance .
 
 
 
 
 
 
 
 

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