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LIC stands for Life Insurance Corporation and the full form of HFL stands for Housing Finance Limited. Life Insurance Corporation drives the LIC HFL exam to recruit contenders for vacant positions of the administrative posts of the corporation. Life Insurance Corporation in Housing Finance Limited is a National level examination. The primary objective of the department is to deliver long-term financial assistance to Indians for the construction of villas, flats, or housing for diverse purposes.
After considering the written test and interview procedure of the LIC HFL, you will be designated and posted as a LIC HFL Assistant, LIC HFL Associate, and LIC HFL Assistant Manager. The LIC HFL salary for each post is distinct from the other. Now, let’s take a look at the various elements of each post of LIC HFL 2019 in detail.
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LIC HFL Salary Structure 2022
The starting basic salary of Rs.22,730/- per month on the scale of 22730-1405(1)-24135-1540(2)-27215-1740(5)-35915-2020(2)-39955-2460(3)-47335-2570(2)-52475. Total payments per month will be approximate Rs.33,960/- (it depends upon the place of posting). The contenders can understand the pay scale in a simplified manner from the table provided below.
LIC HFL Assistant Salary 2022: Pay Scale |
|
Particulars | Amount |
Initial Basic Pay | 22,730 Rupees |
Basic Pay after 1 increment of 1405 Rupees | 24135 Rupees |
Basic Pay after 2 increment of 1540 Rupees | 27215 Rupees |
Basic Pay after increment of 1740 Rupees for 5 years | 39,915 Rupees |
Basic Pay after 10 years | 39,955 Rupees |
Basic pay after 13 years | 47,335 Rupees |
Basic pay after 15 years of service | 52,475 Rupees |
LIC HFL Salary for Assistant
- The starting basic salary of a LIC HFL Assistant is Rs. 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 permissible allowances as per rules shall be payable to the employee. Apart from this, you will also gain a total payment, which is approximately Rs. 23,870/- (it depends upon the place of posting) per month. Other advantages 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 salary for a LIC HFL Associate is Rs. 21,270/- per month.
- The pay scale for the exact is as follows: 21270 – 1485(3)–25725 – 1665(15) – 50700 along with admissible allowances which are provided as per the LIC HFL rules.
- Further, you will also be allowed to get total emoluments per month, the approximate value for that is Rs. 35,960/- (it depends upon the place of posting).
Also, obtain Lunch Allowance, Provident Fund, Gratuity, Group Insurance Scheme, Mediclaim, Housing Loan, LTC, Performance Linked Incentive and other advantages as per the structure of LIC HFL.
LIC HFL Salary for Assistant Manager
- The starting basic salary is Rs. 32,815/- per month.
- 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 Rs. 56,000/ approx (it depends upon the place of posting). Along with this, you will be allowed 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
- Assistant & Associate: For the LIC HFL Assistant and LIC HFL Associate posts, 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 needed to undergo a training period of 1 year as a Management Trainee from the date of joining. A consolidated salary of Rs.25,000/- per month will be delivered to you during this training period.
LIC HFL 2022 Allowances & Perks
Along with the LIC HFL salary 2022, there are different allowances. The allowances & perks possessed in the LIC HFL salary slip 2022 are:
- Lunch Allowance
- Provident Fund
- Mediclaim
- Gratuity
- LTC
- Group Insurance Scheme
- Housing Loan
- Performance Related Incentive and other benefits as per rules
Then, the appointment to the post of Assistant Manager will be delivered to you on the successful and satisfactory completion of this training. Apart from the training, you will also require to serve a probation period of 1 year from the date of joining as an Assistant Manager.
LIC HFL is one of the best organizations to work for because of the excellent career opportunities and allowances. So, if you are applying for the same, you must begin your LIC HFL preparation by knowing the complete details of LIC HFL 2022. You can access the ENTRI Learning App for further detailed information regarding the exams.
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