LIC HFL Salary 2023: Pay Scale, Salary Structure, In-Hand Salary

LIC HFL Salary 2023: Pay Scale, Salary Structure, In-Hand Salary

ByGaurav Singh Bhadouria  |  Updated on: Jan 24, 2023
Find out the LIC HFL Salary 2023. Know all about the LIC HFL Salary Structure along with Salary Slips, In Hand Salary, Perks, Job Profile, Career Growth and Benefits.
Sign up for Free Mock Test

A large number of applicants are drawn to the coveted position by the rich LIC HFL salary and the renowned job description. Aspirants will be inspired to work hard to obtain a position because of the LIC HFL salary. It offers a sizable compensation package, and the officers hired by the LIC are also eligible for a wide range of bonuses & benefits.

An honourable title, respect, and job security are all provided by the LIC. The right information on the LIC HFL Assistant Manager salary not only allays the candidates' concerns but also motivates them to apply for the position. LIC also offers a dazzling career and a wealth of prospects for progress. Here, we have provided the LIC HFL salary 2023, job description, career growth, perks & allowances, and other related information.

LIC HFL Salary 2023

After considering the written test and interview process of the LIC HFL, you will be selected and posted as a LIC HFL Assistant, LIC HFL Associate, and LIC HFL Assistant Manager. The LIC HFL salary for each post is different from the other.

LIC HFL Salary For Assistant

The starting basic pay of LIC HFL Assistant is ₹ 13,980/- per month. The pay scale is as follows: 13980 - 860(1) -14840 - 940(2) - 16720 - 1060(5) – 22020 - 1230(2) - 24480 - 1500(3) - 28980 - 1565(2) - 32110.

Other admissible allowances as per rules shall be payable to the employee. Apart from this, you will also get a total emolument, which is approximately ₹ 23,870/- (depending upon the place of posting) per month. Other benefits like Lunch Allowance, Mediclaim, LTC, Group, Insurance Scheme, Provident Fund, Housing Loan, Gratuity, Performance Linked Incentive and other allowances as per rules and regulations.

LIC HFL Salary For Associate

The basic pay for LIC HFL Associate is ₹ 21,270/- per month. The pay scale for the same is as follows: 21270 - 1485(3) - 25725 - 1665(15) - 50700, along with admissible allowances, which are provided per the LIC HFL rules.

Further, you will also be entitled to get total emoluments per month. The approximate value for that is ₹ 35,960/- (depending upon the place of posting). Also, get Lunch Allowance, Provident Fund, Gratuity, Group Insurance Scheme, Mediclaim, Housing Loan, LTC, Performance Linked Incentive and other benefits as per the structure of LIC HFL.

LIC HFL Assistant Manager Salary

The starting basic pay is ₹ 32,815/- per month. The Payscale of LIC HFL Assistant Manager is 32815 - 1685(14) –56405 - 1755(3) - 61670 with all other admissible allowances as per rules. Total emoluments per month will be ₹ 56,000/ approx (depending upon the place of posting). Candidates will be entitled to get Lunch Allowance, Provident Fund, Mediclaim, Gratuity, LTC, Group Insurance Scheme, Housing Loan, Performance Linked, Incentive, and other benefits.

Probation Period For LIC HFL

LIC HFL is one of the best organizations to work for because of the great career opportunities and allowances.

  • Assistant & Associate: For the LIC HFL Assistant and LIC HFL Associate post, you will have to serve 6 months probation period from the date of joining.
  • Assistant Manager: Before being appointed as a LIC HFL Assistant Manager, you will be required to undergo a training period of 1 year as a Management Trainee from the date of joining. A consolidated salary of ₹25,000/- per month will be paid to you during this training period.

Then, the appointment to the post of Assistant Manager will be provided to you on the successful and satisfactory completion of this training. Apart from the training, you will also need to serve a probation period of 1 year from the date of joining as an Assistant Manager.

LIC HFL Assistant Manager Salary Structure

The LIC HFL salary will be announced with the release of the official notification. According to the rules, the LIC HFL assistant manager salary structure includes basic pay and supplementary perks. The LIC HFL Salary structure is given in the table below.

LIC HFL Assistant Manager Salary Structure 2023
Conducting BodyLife Insurance Corporation House Finance Limited (LIC HFL)
Post NameLIC HFL Assistant Manager
Pay ScaleINR 53620-2770(14)- 92400-2880(3)-101040
Remuneration₹ 80,110/- per month
Job LocationAnywhere in India

LIC HFL Salary - Perks and Allowances

Apart from the basic LIC HFL salary, the employees also receive various perks and allowances. The different types of perks and allowances are as follows.

  • Lunch Allowance
  • Provident Fund
  • Mediclaim
  • Gratuity
  • LTC
  • Group Insurance Scheme
  • Housing Loan
  • Performance Linked Incentive and other benefits as per rules.

LIC HFL Assistant Manager Salary Slip

Every month, the Corporation releases the LIC HFL Assistant Manager Salary Slip for all personnel employed by LIC HFL. Basic salary information, deductions, allowances, performance bonuses, incentives, and other information are all included in the pay slip. This LIC HFL salary slip will be beneficial for future personal and professional endeavours.

LIC HFL Assistant Manager In-Hand Salary 2023

The LIC HLF Assistant Manager in-hand salary is ₹ 53,620 per month. The salary structure does include additional profitable allowances and benefits in addition to the base pay. The table given below consists of the LIC HFL Assistant Manager Salary Structure.

Basic PayAmount
Initial Basic Salary53,620
Basic pay after an increment of 2,770 rupees for 14 years92,400
Basic pay after an increment of 2,880 rupees for 3 years1,01,040
Gross Salary80,110

The LIC HFL Assistant Manager In-Hand Salary comprises basic pay and allowances. The basic pay scale is INR 53620-2770(14)-92400-2880(3)-101040, and other allowances that are allowed under the laws must also be paid. Before being hired as an assistant manager, candidates must complete a year-long training programme as management trainees starting on the day they join the company. An aggregate remuneration of ₹ 25,000 will be paid throughout this training term.

LIC HFL Assistant Manager Job Profile

A LIC HFL Assistant Manager is required to work at any of the corporate offices, regional offices, area offices, or back offices. An Assistant Manager acts as a team supervisor. The job roles include credit appraisal, sanctioning and disbursements of loans. He/she is also expected to perform the other responsibilities in accounts, CRM, and the recovery section.

LIC HFL Probation Period

Candidates who have been selected for the post of Assistant Manager will have to undergo a training period of 1 year as a Management Trainee from the date of joining. The appointment of the candidate to the post of Assistant Manager will take place only after the successful completion of the training period. The one-year probation period may be extended for a maximum of one more year.

For the post of LIC HFL Assistant/Associate, the selected candidates will get a posting in the state of his/her choice only during the initial period and then he/she may be transferred to another state, irrespective of the preference. However, there is no choice preference for Assistant Manager.

LIC HFL Assistant Manager Career Growth

The applicants engaged as LIC HFL Assistant Managers will have stable and consistent career growth. The candidate will be eligible for all additional benefits and promotions after they have successfully completed their probationary period. They will advance to higher positions based on their performance and work ethics, which come with seniority and experience.

LIC HFL Salary FAQs

  • The LIC HFL Assistant Manager Salary is ₹ 53,620/- per month. The LIC HFL salary structure 2023 for the Assistant Manager post is 53620-2770(14)-92400-2880(3)-101040.

  • The selected candidates will undergo a year of management trainee training starting on the day they join the company. A set LIC HFL Salary of ₹ 25,000 would be given each month during this training term/ probation period.

  • The LIC HFL Assistant Manager Job Profile includes the following.

    • Managing marketing and sales goals.
    • Approving loan approvals and making recommendations.
    • Evaluation of a client's creditworthiness and reputation.
    • Receiving and reviewing loan applications for homes.
  • The estimated LIC HFL Assistant Manager annual salary ranges from INR 9.5 to INR 10.5 lakhs. Only after the probationary term is over will the chosen applicants be qualified to receive specific allowances and incentives.

  • The perks and allowances received by a LIC HFL Assistant Manager are Lunch Allowance, Provident Fund, Mediclaim, Gratuity, LTC, Group Insurance Scheme, Housing Loan, Performance Linked Incentive and other benefits as per rules.

PO, Clerk, SO, Insurance

BankingIBPS POIBPS ClerkSBI POIBPS SOSBI ClerkRBIIDBI SOIBPS RRBLIC