LIC Assistant Salary 2024, Revised Salary and Allowances
LIC Assistant salary 2024 has revised after the 11th Bipartite settlement. So candidates can check the LIC Assistant wage, Basic Pay, In Hand Salary, Perks and Allowances in this article.
LIC Assistant Salary 2024: LIC has been one of the top insurance companies in India for a long time. Life Insurance Corporation is a very popular job in the insurance sector among students from all over the country. So candidates who clear all the stages of the recruitment process selected for the assistant clerk position at LIC. So an assistant clerk at LIC has a very attractive salary with various benefits and perks. In this article, we will learn about the in-hand salary of an assistant clerk at LIC. So we will also cover the significant allowances and perks candidates in this position receive.
LIC Assistant Salary 2024
Life Insurance Corporation offers candidates a competitive salary and benefits package for the assistant clerk position. It is one of the most popular insurance companies in India. After the 11th bipartite settlement, the salary of the LIC Assistant has been revised, and it is now Rs. 27,840-840(1)-28,680-915(2)-30,510-1030(5)-35,760-1195(2)-38150-1455(3)-42,515-1510(2)-45,535-1610(5)-53,585. It includes various benefits and allowances along with the basic salary.
So the candidate must keep checking the latest syllabus as LIC Assistant wage 2024 is subject to revision occasionally. So the basic salary of LIC assistant is Rs. 27,840. Along with it, they receive an allowance of around Rs. 38416. In this article, we will cover the LIC Assistant wage Structure 2024 and its allowances and perks.
LIC Assistant Salary 2024 Overview
Some of the critical details about the LIC Assistant wage 2024 exam are in the table below.
| LIC Assistant Salary 2024 Overview | |
| Name of Organization | Life Insurance Corporation of India |
| Name of the exam | LIC Assistant 2024 Exam |
| Post | Assistant |
| Category | Government Jobs |
| Selection Process | Prelims, Mains |
| Vacancy | Notified Soon |
| Job Location | All across India |
| Application Mode | Online |
| Official Website | @www.licindia.in |
LIC Assistant Salary 2024 Salary Structure
After the 11th Bipartite settlement, LIC Assistant wage 2024 has revised. The basic pay is Rs. 27,840 per month. Candidates get a handsome salary package for the assistant clerk position. The revised salary is 27,840-840(1)-28,680-915(2)-30,510-1030(5)-35,760-1195(2)-38150-1455(3)-42,515-1510(2)-45,535-1610(5)-53,585. Candidates can check the complete LIC Assistant wage 2024 structure in the table below.
| LIC Assistant Salary 2024 Structure | |
| Earnings | Amount |
| Basic Pay | Rs. 27,840 |
| DA | Rs. 10,553.14 |
| DA (Arrears) | Rs. 176.27 |
| HRA | Rs. 1987.65 |
| Transport Allowance | Rs. 680 |
| Temp Cash Allowance | Rs. 800 |
| Cadre Spl. Allowance | Rs. 2000 |
| Tech Exam Allowance | Rs. 555 |
| Tech Exam Allowance (Arrears) | Rs. 555 |
| Gross Salary | Rs. 45,147.06 |
| Deduction | Rs. 6731.06 |
| Net Salary | Rs. 38416.00 |
LIC Assistant Salary 2024 Deduction
LIC Assistant also goes through deductions at their overall salary structure. So all the significant deductions mentioned in the table below.
| LIC Assistant Salary 2024 Deductions | |
| Name of the Deductions | Amount |
| NPS-DCP Optees | Rs. 3825 |
| Mediclaim | Rs. 158.92 |
| New GI Scheme | Rs. 97 |
| GTIS’ 97 Rish Pr | Rs. 196 |
| Opynl Mediclaim | Rs. 613.92 |
| GID Premium | Rs. 1840 |
| SR A/C Credit | Rs. 0.22 |
| Total Deductions | Rs. 6731.06 |
LIC Assistant Salary 2024 Increments
So life Insurance Corporation offers time-to-time increments on its regular pay. So the overall maximum basic pay is Rs. 53,585, and it will remain so until retirement. The LIC Assistant wage 2024 increment structure given in the table.
| LIC Assistant Salary 2024 Increments | ||
| Basic Pay | Increment Amount | Years |
| Rs. 27,840 | Rs 840 | 1 year |
| Rs 28,680 | Rs 915 | 2 years |
| Rs 30,510 | Rs 1030 | 5 years |
| Rs 35,760 | Rs 1195 | 2 years |
| Rs 38150 | Rs 1455 | 3 years |
| Rs 42,515 | Rs 1510 | 2 years |
| Rs 45,535 | Rs 1610 | 5 years |
| Rs 53,585 | Till Retirement | |
LIC Assistant Salary 2024 Allowances
Candidates receive various perks, allowances, and basic pay in LIC Assistant wage 2024. Let us know about the significant allowances given to the LIC Assistant.
- Medical Benefits: LIC provides medical benefits to its assistants in the form of cash, ensuring financial support for medical expenses. This benefit can be essential for covering healthcare costs.
- Group Medical Claim: Employees are enrolled in a group medical insurance scheme that covers medical expenses for themselves and, in some cases, their family members. This insurance offers peace of mind in times of illness or medical emergencies.
- Group Insurance: Besides personal accident insurance, LIC provides group insurance coverage to provide additional financial security for employees and their families.
- Graduation Increment: Graduates may receive an additional increment or bonus as a reward for their educational qualifications, enhancing their overall compensation.
- House Rent Allowances: Depending on their posting location, LIC Assistants may receive house rent allowance (HRA) and city compensatory allowance to help cover the cost of living and accommodation expenses.
- Group Personal Accident Insurance: LIC offers a group personal accident insurance policy to safeguard employees and their families in the event of accidental injuries or fatalities.
- Retirement Pension: LIC offers a defined contributory pension scheme, ensuring financial security for employees after retirement.
- LTC (Leave Travel Concession): LIC employees can avail of a leave travel concession, allowing them to travel with their families and get reimbursed for their travel expenses per company rules.
LIC Assistant Salary 2024 Job Profile
Candidates must be familiar with the job profile for LIC Assistant 2024. Although LIC Assistants are responsible for several administrative tasks in the department, some of the significant responsibilities of assistant clerks are given here.
- LIC Assistants perform various tasks, such as window operators, cashiers, customer service executives, etc.
- They are responsible for managing the cash counters at LIC and performing cash processing and disbursement.
- They also need to take care of the concerns of customers and solve them as soon as possible.
- They need to review insurance documents and ensure that all the documents are properly completed and submitted.
LIC Assistant wage 2024 Probation Period
LIC Assistants must complete their probation period, generally 1 year from their joining date. However, it can also be extended up to two more years. The probation period is the period from the joining date, after which candidates may get an offer to join the institution permanently. If a candidate completes their probationary period, they will start receiving all the major perks and benefits of being an assistant clerk at Life Insurance Corporation.
LIC Assistant Salary 2024 Career Growth
Candidates receive various opportunities and career growth prospects at LIC India. Candidates need to complete their probationary period. After completing the probationary period, candidates receive their responsibilities and are expected to complete the responsibilities assigned to them effectively. Candidates can be promoted to different departments or higher posts based on their performance throughout their tenure. Also, LIC also takes departmental exams at regular intervals for the promotion of their employees to a higher post.