Candidates who are recruited for the LIC Assistant recruitment 2020 will be paid a good salary as per the 7th pay commission. Along with a good salary they will also be provided with other benefits and perks. The candidates need to know about the pay structure, their career path, and other details regarding the LIC Assistant Recruitment 2020. They must know about their job roles and responsibilities in detail so that they get motivated towards the LIC Assistant Recruitment 2020. They will be getting approximately Rs. 57,000/- per month in A Class cities. Interested candidates must start their preparations by now because the LIC Assistant Exam 2020 will be held very soon. The details about their job responsibilities and their salary structure are mentioned below in this article.
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LIC Assistant Salary Pay Scale 2020:
LIC Assistant Salary Structure has been described below. The basic pay and maximum in-hand salary are given. Basic pay of Rs. 14435/- per month in 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.
- Initial Basic Pay – Rs 14435 with a yearly increment of Rs 840 for 1 year
- Rs 15275 and yearly increment of Rs 915 for the next two years
- Rs 17105 and yearly increment of Rs 1030 for the next five years
- Rs 22255 and yearly increment of Rs 1195 for the next 2 years
- Rs 24645 and yearly increment of Rs 1455 for the next three years
- Rs 29010 and yearly increment of Rs 1510 for the next two years
- Rs 32030 and yearly increment of Rs 1610 for the next five years
- Rs 40080(maximum Basic Pay)
That is the maximum salary of LIC Assistant earned without promotion is Rs. 40080
LIC Assistant Salary – Allowances and Benefits
Along with the Salary, the candidates who will be recruited for LIC Assistant 2020 will also be getting other benefits which include allowances as per the rules of LIC. However, the LIC Assistant Salary 2020 may differ from one to the other depending on the job location. The allowances may differ from one zone to another. The other benefits which will be given to the LIC Assistants are mentioned below in the article.
- House Rent Allowances (HRA): The HRA depends completely on the job location. Based on LIC Assistants’ location, whether they are posted in metropolitan cities, big cities, or other locations, the HRA can be 9%, 8%, or 7% of the LIC Assistant Basic Pay.
- City Compensatory Allowance (CCA): This also depends upon the job location and can be 4%, 3%, or 0% of the LIC Assistant Basic Pay.
- Dearness Allowance (DA): The DA is revised quarterly based on the Consumer Price Index (CPI). The DA forms around 40% of the Basic Pay of the LIC Assistant Salary. Since CPI depends upon inflation rates, the DA is subject to increase or decrease based on that.
- Lunch Allowance
- Insurance Allowance: Group Personal Accident Insurance, Vehicle Loan (2-wheeler) as per rules, etc.
- Defined Contributory Pension, Gratuity, LTC.
LIC Assistant Officer – Probation Period
A candidate will serve a period of 1 year from the date of joining. However, the period may be extended up to 2 years. The probationary period is subject to change and depends on the board’s decision.
LIC Assistant Officer – Guarantee Period
The LIC assistant officer will be signing a bond of 4 years including the probationary period. This will be applicable from the date of his/her joining. In case the candidate fails to serve it, they are supposed to pay a penalty of 5 lakhs only + GST or the sum of money prescribed by the personnel director at the time. The candidate will have to submit a deed of Indemnity at his cost, duly stamped and notarized.
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LIC Assistant Job Profile
The work profile or job profile of LIC Assistant involves the following:
- Clerical duties
- Public relation/ mitigation
- Document handling
- Customer service executive
- Back-end office work
- Handling transactions
LIC Assistant Job Profile: Roles and Responsibilities
- The main role of Assistants is managing cash counters, processing, and sanctioning or disbursement of files.
- Clerical Staff duties involve Cashier, Single Window Operator, Customer Service Executive, etc.
- LIC Assistants take care of back-office works, Account related work, and recovery.
- LIC Assistants deal with customer grievances.
- They are responsible for processing and reviewing insurance documentation and ensuring that all documents are complete.
- They are also required to Manage Sales documents & other documents related to policies, claims, settlements, accounts, etc.
- Assistants handle online and offline transactions.
What after Selection as LIC Assistant?
- After the candidates are appointed as LIC Assistants and their completion of the probation period, candidates will be posted at their assigned places for a minimum of three years and no request for changing the place will be entertained.
- After they are selected as LIC Assistants, they will have to complete the probation period of one year.
- The confirmed LIC Assistants will be eligible for the fixation of pay as per the existing rules of the Government.
LIC Assistant Promotion
- After the LIC Assistants are recruited, they will be promoted to other departments depending upon their internal requirements and the employees’ interests.
- They get promoted based on their years of experience and performance.
We hope that the above-mentioned information will be helpful for the candidates applying for the LIC Assistant 2020. Stay connected with our page for more updates regarding the LIC Assistant 2020 and other Government Recruitment exams.
LIC Assistant Salary and Job Profile 2020 FAQs
How much is the LIC Assistant Salary?
The candidates who will be recruited for the LIC Assistant will be paid Rs. 30,000/- per month along with other benefits.
What are the other benefits along with LIC Assistant Salary?
The candidates will be provided with the DA, HRA, and other benefits that are mentioned in the above article.
Will there be any promotion for the LIC Assistant?
Yes, the candidates will be promoted based on their experience. Read the full article to know in detail.
What is the basic pay for the LIC Assistant?
The Basic Pay for the LIC Assistant is Rs. 14435/- per month.
What are the LIC Assistant job roles?
The LIC Assistant Job Roles are mentioned in the above article. Read the full article.