General Insurance Employee Pay Scales for Officer, DO & Clerical

May have a look at new pay scales of General Insurance employee working in National Insurance, Oriental Insurance, United India & New India Assurance, Find the employee basic salary revised and the salary structure applicable for all the company employees related to Officer, Development Officer, Clerk (Sr.Asst, Asst, etc) and Subordinate staff…

General Insurance Employee Pay Scales

The merger of Oriental Insurance Company Limited, National Insurance Company Limited, United India Insurance Company Limited does hold the same pay scales as per their individual rules & regulations which may effective from 01.04.2020, where the Union Cabinet has approved an amount of 2,500 crores into these three public sector units.

Thus, the company salary structure for General Insurance employee pay scales for Officer, Supervisory, Clerical, and Subordinate staff will vary with the latest payroll released, and we soon present the upcoming pay scales, upto then we presenting the existing pay scales of different cadres as per the pay revision effective from 01.08.2012.

Employees will be released a Basic salary under the general insurance company norms and recruiting budget, thus there after they will be allowed to avail Dearness Allowance, House rental Allowance and other benefits as mentioned.

General Insurance (National, Oriental, United, New India Assurance) Employee Pay Scales

The company does hold the accommodation, leave travel concession, leave encashment, medical benefits, gratuity, provident fund, vehicle loan, Housing Loan, education Loan, computer Loan, Meal Coupon, Pension benefits and festival advance for employees.

The Pay Scales of every general insurance employee does vary based on their work nature and allowance will surely change as per work loaded taken, and the salary of every employee working in OIC, NIC, United India insurance company may differ or similarity announced.

Combined entities of these three units are the largest non-life insurance companies valued to be 1.2 to 1.5 lakh crore and have gone to total, combined net worth of 9,243 crore with an employee strength of 44,000, and there are a total 6000 offices which are combined to form a single norm for all these big companies.

The following are the basic pay scales of National Insurance Company Limited effective from 1st August 2012, and these are similar to Oriental Insurance, New India and United India Assurance companies, Let’s have a look at the new pay scales as below for different cadres

General Insurance Officer Pay Scales (Basic Pay) from 01.08.2012

Type of Pay ScaleBasic Pay (Pay Matrix)
Scale 132795 – 1610(14) – 55335 – 1745(4) – 62315
Scale-II44065 – 1610(7) – 55335 – 1745(6) – 65805
Scale-III53725 – 1610(1) – 55335 -1745(6) – 65805 – 2300(4) – 75005
Scale-IV65805 – 2300(9) – 86505
Scale-V79605 – 2300(3) – 86505 – 2590(6) – 102045
Scale-VI89095 – 2685(8) – 110575
Scale-VII99835 – 2685(2) – 105205 – 2080(1) – 108085 – 3150(1) – 111235 – 3265(4) – 124295

Development Officer Pay Scales from 01.08.2012

Development Officer Pay ScalePay Band 1 Pay Band-2 Pay Band-3 Pay Band-4
Grade-I23075 – 1445(8) – 3463534635 – 1495(9) – 4809048090 – 1570(2) – 5123051230 – 1610(4) – 57670
Grade-II15650 – 1030(3) – 1874018740 – 1175(4) – 23440

Supervisory & Clerical Basic Pay Scales from 01.08.2012

Employee DesignationPay Matrix
Senior Assistant & Stenographer20210 – 1445(4) – 25990
25990 – 1610(15) – 50140
Assistant, Typist, Telephone Operator,
Telex Operator, Receptionist, Punch Card,
Operator, Unit Record Machine Operator,
Comptist and other equivalent posts
14435 – 840(1) – 15275
15275 – 915(2) – 17105
17105 – 1030(5) – 22255
22255 – 1195(2) – 24645
24645 – 1455(3) – 29010
29010 – 1510(2) – 32030
32030 -1610(5) – 40080
Record Clerk13380 – 580(2) 14540
14540 – 620(5) – 17640
17640 – 665(1) -18305
18305 – 745(2) – 19795
19795 – 820(3) – 22255
22255 – 915(5) – 26830
26830 – 1015(9) – 35965

Subordinate Staff Basic Pay Scales from 01.08.2012

DesignationPay Scale
Driver13380 – 580(2) – 14540
14540 – 600(14) – 22940
22940 – 665(2) – 24270
24270 – 745(9) – 30975
Other Subordinate Staff11660 – 475(5) – 14035
14035 – 505(8) – 18075
18075 – 600(1) – 18675
18675 – 620(2) – 19915
19915 – 745(9) – 26620

Provident Fund will be an equal share in the General Insurance Pay Scale of employees, which will be contributed by both employee and company, and this is a non-withdrawal amount which is meant for retirement, and thus, employee does have an option to withdraw the partial amount after completing of certain period for emergency or child education or child marriage.

According to the saturation of withdrawal, the amount will be sanctioned from full amount, and General Insurance Employee Pay Scale does also include Gratuity which is a one side investment started from the day of employment.

Employees add their share every month and this gets an approval to withdraw after a term of 5 years, and the gratuity after 5 years of term will hold good amount for employees and will be kept on adding until the term of employment has been completed.

Any education loan or Marriage loan taken from the company as per the norms, will be added in Pay Scale and salary credit in employee account will have automatic deduction of this Loan EMI amount, and other loans taken from private firms outside the company will not hold any entity in Pay Scale and should be managed separately.

Thus, every employee has got a detailed Payment Sheet for their current month worked detailing all the valued entities, and there is a good change in employee salaries as the 7th pay commission budget has been announced and for General Insurance employee pay scales where the permanent employees are supposed to get benefited much.