The LIC Assistant is a Class III Cadre position.The Life Insurance Corporation is a leading and reputed organisation in India. The LIC is a public sector under the Government of India. Achieving a position in the Life Insurance Corporation of Indian is no less than achieving a government job. The LIC Assistant job has a lot of perks and benefits along with a handsome payslip. Including a secured job and future, the aspirants also get great promotions based on their performance. This article gives you a cognisance of the LIC Assistant Job Profile 2021. Read on for a better understanding.
LIC Assistant is an entry-level gateway to reach higher positions. With experience of working, the candidates can prove their worth and get huge opportunities as promotions to reach senior posts. Details like the LIC Assistant career, LIC Assistant career growth and LIC Assistant Salary are briefed in this article.
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
- Handling Customer Grievance
- Back-end office work
- Handling transactions
LIC Assistant Job Profile- Roles and Responsibilities
- The main role of LIC Assistants is to manage cash counters,
- They also do the task of 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, as assigned to them by their area manager.
- LIC Assistants deal with customer grievances.
- They are responsible for reviewing and processing 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.
- The online and offline transactions are also handled by the Assistants.
LIC Assistant Career Growth and Promotion
The LIC Assistant salary and additional benefits and perks are something a job seeker deems undeniable. The attractive salary package and incentives give a good career growth. The employees are observed continuously and comprehensively and given the promotion accordingly. Those employees who perform well are promoted earlier.
Annual Package for LIC Assistant
The LIC Assistant Salary Structure is detailed below. As per the 7th Pay Commission, the basic pay is given as Rs. 14435. The gross annual package will be approximately INR 3 to 3.4 Lakhs per annum.
|Original Basic Pay||Rs 14435|
|Final gross basic pay of LIC Assistant (without promotion)||Rs. 40080|
LIC Assistant Salary Structure 2021
LIC Assistant salary structure has a basic pay of rupees Rs 14,035 on the scale. And, a few of the other admissible allowances are given below –
- HRA & CCA
- Stationary Allowance
- Transport Allowance
- Medical Allowance
- Other Miscellaneous Allowances
LIC Assistant Salary Pay Scale 2021
LIC Assistant Salary Structure is given below. The basic pay and maximum in-hand salary are given. Basic pay of 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. Hence, the maximum salary of a LIC Assistant earned without promotion is Rs. 40080
- Initial Basic Pay – Rs 14435 with a yearly increment of Rs 840 for 1 year
- Rs 15275 and a yearly increment of Rs 915 for the next 2 years
- Rs 17105 and a yearly increment of Rs 1030 for the next 5 years
- Rs 22255 and a yearly increment of Rs 1195 for the next 2 years
- Rs 24645 and a yearly increment of Rs 1455 for the next 3 years
- Rs 29010 and a yearly increment of Rs 1510 for the next 2 years
- Rs 32030 and a yearly increment of Rs 1610 for the next 5 years
- Rs 40080(maximum Basic Pay)
In-Hand Salary of LIC Assistant
In-hand salary is the sum that the employee gets after the tax and other deductions are carried over. The in-hand salary will be approximately INR 28,000 to INR 32,000 per month. The deductions from the gross salary are subtracted from the salary, which includes, occupational tax, payroll tax and other business policy deductions. For more details regarding the LIC Assistant Salary, click here.
LIC Assistant Job Profile-Perks, Benefits and Allowances
Other than the above-mentioned salary, the LIC Assistant also has some other allowances to add to their salary package.
- House Rent Allowance (HRA)- It is based on the job location of the employee.If the LIC Assistants are posted in urban areas like 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 also depends on the location of the job post and can be 4%, 3%, or 0% of the LIC Assistant.
- Medical Allowance
- Transport Allowance
- Dearness Allowance(DA)-This allowance is not the same every time. It fluctuates. This is revised on a quarterly basis of the Consumer Price Index (CPI). It forms 40% of the basic pay. CPI solely depends on the inflation rate, due to which it shows frequent fluctuation.
- Lunch Allowance
- Insurance Allowance- Personal Insurance, Accident Insurance, Vehicle Loan(2 wheeler) etc
- Defined Contributory Pension
- Stationary Allowance etc
The allowances depend upon the classification of the city and the meal coupon the candidate receives, which will be approximately Rs 30,000/- per month in ‘A’ Class city. So, the LIC Assistant In-hand Salary will be Rs 30,000/- per month.
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Wishing you all the best!