LIC Assistant Salary 2022, Check revised basic pay, in-hand salary, payscale and more

Safalta Expert Published by: Deepesh Mehra Updated Thu, 27 Oct 2022 10:10 PM IST

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Looking for details on LIC Assistant Salary? Get information on in-hand salary, pay scale, career growth, and job profile here at Safalta.com.

LIC Assistant Salary 2022: LIC Assistant in-hand salary is INR 28,000 to INR 32,000 per month and the basic pay is Rs. 14435/- per month. The salary is set as per the provisions of the 7th pay commission. Along with a handsome salary, there are different allowances and benefits that Assistants in LIC receive. The good salary and perks make this post very lucrative for a lot of candidates. Read this article to know complete LIC Assistant salary and other details.


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LIC Assistant Salary 2022

The salary structure of candidates recruited in LIC is as per the 7th pay commission.

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Candidates are paid various allowances, benefits and perks along with salary. The LIC Assistant Salary is one of the best in class and other benefits along with learning and growth opportunities make it a rewarding career option.

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LIC Assistant In-hand Salary

LIC assistant after various add-ons and deductions in form of contributions 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.

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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 and Benefits

As per the mandate of 7 th pay commission, government employees are paid various allowances. Allowances are add on to the 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 conditions for employees. 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.

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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.
 

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How much does a LIC Assistant make per month?

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

What is the basic salary of a LIC Assistant ?

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

Which is the minimum pay scale for a LIC Assistant ?

 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.

Do you get a salary after the LIC Assistant exam?

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

Is there any career growth for the LIC Assistant?

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

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