LIC Assistant Salary 2023: Salary Slip, Pay Scale, In-Hand Salary

LIC Assistant Salary 2023: Salary Slip, Pay Scale, In-Hand Salary

ByKanika Ralhan  |  Updated on: Jan 23, 2023
Know about the LIC Assistant salary 2023. Check out the LIC Assistant in-hand salary structure, job profile, pay scale, career growth, promotion, allowances, and perks.

The Life Insurance Corporation of India determines the LIC Assistant salary. Candidates interested in working should familiarise themselves with the LIC Assistant salary & job profile. The LIC Assistant Recruitment is held to find the most deserving candidates for the Assistant post. Candidates are expected to go through a selection procedure after clearing all stages, including the medical test.

Candidates applying for the exam should be aware of the LIC Assistant salary 2023 before applying for the exam. In addition to the base pay of a LIC Assistant Salary, this is a well-paid job profile with significant perks, allowances, and benefits like HRA and CCA. Read on for detailed information regarding LIC Assistant in-hand salary, job profile, career growth, promotion, allowances, and perks.

LIC Assistant Salary 2023

According to the 7th Pay Commission, candidates hired as Assistants in LIC are paid properly. 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.

Total emoluments at the minimum of the scale inclusion of Graduation increment, House rent allowance & City compensatory allowances wherever depending upon the classification of the city and meal coupons will be approx. to Rs. 30,000/- per month. The gross annual LIC Assistant salary will be in the range of INR 3 to 3.4 lakhs.

LIC Assistant Salary Structure

The basic LIC Assistant salary is Rs. 14435-840 (1), 15275-915 (2), 17105 - 1030 (5), 22255 - 1195 (2), 24645 - 1455 (3), 29010 - 1510 (2), 32030 - 1610 (5), and 40080 on the scale. And in accordance with the law, the following additional allowances are permitted:

  • PF
  • Medical Allowance
  • HRA
  • Transport Payment
  • Static Compensation
  • Other Allowances

LIC Assistant In-Hand Salary 2023

After taxes, the employee receives their LIC Assistant in-hand salary, with other deductions being carried over. Candidates who meet the requirements for the position can expect to make between INR 28,000 and INR 32,000 a month, according to the estimate from the prior year. The difference between gross and net salaries is that deductions from the gross compensation, such as payroll tax, occupational tax, and other company policy deductions, are subtracted from the salary.

LIC Assistant Perks and Additional Benefits

Along with the LIC Assistant salary 2023, candidates will be eligible for a slew of other perks, as outlined in the LIC rules and regulations. The compensation and other benefits may vary depending on the location. The following are some of the perks granted to LIC Assistants.

  • House Rent Allowances (HRA): This is determined by 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, depending on the region.
  • 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.
  • The 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. Because the CPI is based on the rate of inflation, it fluctuates a lot. As a result, DA fluctuates a lot.
  • Allowance for Lunch.
  • Insurance Allowance: As per LIC norms, group personal accident insurance, vehicle loan (2-wheeler), and so on.
  • Defined Contributory Pensions, Gratuities, and Other Benefits.

LIC Assistant Job Profile 2023

All candidates who wish to work as an Assistant should know the LIC Assistant job profile 2023. The following discussed are some of the major work responsibilities of a LIC Assistant.

  • Daily dealing with customer grievances.
  • Processing and analyzing all the documents related to Insurance Documentation and checking their authenticity.
  • Handling documents related to policy claims, settlements, accounts, etc.
  • Handling both online/offline transactions.
  • After the appointment, the candidate will be on probation for a period of 6 months, which might get extended to 1 year.
  • Performing duties of Clerical Staff, including Cashier, Single window operator, Customer Service Executive, etc.
  • Handling cash counters and working on files given by Assistant Manager.
  • Assisting in back-office work.

LIC Assistant Career Growth and Promotion

Other than the LIC Assistant salary, there is enormous career growth and promotion. Employees are promoted based on LIC's internal requirements as well as the employee's expertise and interests after they have been hired. Their performance is continually examined, and promotions are made as a result. People with good performance are promoted early.

  • It provides you with time-based promotions.
  • Employees get promotions based on their years of experience and performance.
  • Employees also get a chance of promotion via Departmental exams.

FAQs on LIC Assistant Salary

  • The gross annual LIC Assistant salary 2023 will be in the range of INR 3 to 3.4 lakhs. LIC Assistant salary structure has basic pay of Rs.14435-840 (1) - 15275-915 (2 ) - 17105 - 1030 (5) - 22255 - 1195 (2) - 24645 - 1455 (3) - 29010 - 1510 (2) - 32030 - 1610 (5) - 40080 on the scale.

  • Assistants have additional advantages in addition to their LIC Assistant salary and allowances. Candidates will be informed of all benefits once they have been selected for the post.

  • There are yearly increments in LIC Assistant salary. After one year on the job, candidates will receive their first raise.

  • LIC Assistants are typically in charge of clerical work as well as dealing with customer complaints. They perform Cashier, Single Window Operator, Customer Service Executive, and other clerical services.

  • LIC Assistants are eligible for various benefits, including Dearness Allowance and House Rent Allowance. In the official recruitment notification, candidates can find a detailed list of allowances granted to the LIC Assistant.

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