General Insurance Pay Scales (2017 Pay Revision) 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.

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)

Type of Pay Scale Basic Pay (Pay Matrix) from 2012Revised Pay from 2017
Scale 1 32795 – 1610(14) – 55335 – 1745(4) – 62315 50925 – 2500(14) – 85925 – 2710(4) – 96765
Scale-II 44065 – 1610(7) – 55335 – 1745(6) – 65805 68425 – 2500(7) – 85925 – 2710(6) – 102185
Scale-III 53725 – 1610(1) – 55335 -1745(6) – 65805 – 2300(4) – 75005 83425 – 2500(1) – 85925 – 2710(6) – 102185 – 3570(4) – 116465
Scale-IV 65805 – 2300(9) – 86505 102185 – 3570(9) – 134315
Scale-V 79605 – 2300(3) – 86505 – 2590(6) – 102045 123605 – 3570(3) – 134315 – 4020(6) – 158435
Scale-VI 89095 – 2685(8) – 110575 138335 – 4170(8) – 171695
Scale-VII 99835 – 2685(2) – 105205 – 2080(1) – 108085 – 3150(1) – 111235 – 3265(4) – 124295 155015 – 4170(2) – 163355 – 4470(1) – 167825 – 4890(1) – 172715 – 5070(4) – 192995

Development Officer Pay Scales

Development Officer Pay Scale Revised pay from 2017Pay Band 1 from 2012 Pay Band-2 (2012) Pay Band-3 (2012) Pay Band-4 (2012)
Grade-I Rs. 35815 – 2245(8) – 53775 – 2325(9) – 74700 – 2435(2) – 79570 – 2500(4) – 89570 23075 – 1445(8) – 34635 34635 – 1495(9) – 48090 48090 – 1570(2) – 51230 51230 – 1610(4) – 57670
Grade-II 24315 – 1605(3) – 29130 – 1825(4) – 36430 15650 – 1030(3) – 18740 18740 – 1175(4) – 23440

General Insurance Supervisory & Clerical Basic Pay Scales

Employee Designation Pay Revision from 01.08.2017 Pay Matrix from 01.08.2012
Senior Assistant & Stenographer 31370 – 2245(4) – 40350 20210 – 1445(4) – 25990
40350 – 2500(15) – 77850 25990 – 1610(15) – 50140
Assistant, Typist, Telephone Operator, Telex Operator, Receptionist, Punch Card,
Operator, Unit Record Machine Operator, Compterist and other equivalent posts
Rs. 22405 – 1305(1) – 23710 14435 – 840(1) – 15275
23710 – 1425(2) – 26560 15275 – 915(2) – 17105
26560 – 1605(5) – 3458517105 – 1030(5) – 22255
34585 – 1855(2) – 3829522255 – 1195(2) – 24645
38295 – 2260(3) – 4507524645 – 1455(3) – 29010
45075 – 2345(2) – 4976529010 – 1510(2) – 32030
49765 – 2500(5) – 6226532030 -1610(5) – 40080
Record Clerk Rs. 20785 – 900(2) – 22585 13380 – 580(2) 14540
22585 – 965(5) – 2741014540 – 620(5) – 17640
27410 – 1030(1) – 2844017640 – 665(1) -18305
28440 – 1155(2) – 3075018305 – 745(2) – 19795
30750 – 1275(3) – 3457519795 – 820(3) – 22255
34575 – 1420(5) – 4167522255 – 915(5) – 26830
41675 – 1580(9) – 5589526830 – 1015(9) – 35965

GIC Subordinate Staff Basic Pay Scales from 01.08.2012

Designation Pay Revision Scales from 01.08.2017 Pay Scale from 01.08.2012
Driver Rs. 20785 – 900(2) – 22585 13380 – 580(2) – 14540
22585 – 935(14) – 3567514540 – 600(14) – 22940
35675 – 1030(2) – 3773522940 – 665(2) – 24270
37735 – 1160(9) – 4817524270 – 745(9) – 30975
Other Subordinate Staff Rs. 18100 – 740(5) – 21800 11660 – 475(5) – 14035
21800 – 785(8) – 28080 14035 – 505(8) – 18075
28080 – 935(1) – 29015 18075 – 600(1) – 18675
29015 – 970(2) – 30955 18675 – 620(2) – 19915
30955 – 1160(9) – 41395 19915 – 745(9) – 26620

General Insurance Employee Basic Pay from 01.08.2017 for Supervisory, Clerical and Subordinate Staff

Senior Assistant/ Stenographer Existing
Basic
Salary from 2012
Senior Assistant/ Stenographer Revised
Basic
Salary from 2017
Assistant
Basic
Salary
2012
Assistant
Basic
Salary 2017
Record Clerk Existing
Basic
Salary 2012
Record Clerk Revised
Basic
Salary 2017
Driver
Basic
Salary 2012
Driver
Basic
Salary 2017
Other Subordinate
Staff Existing
Basic
Salary 2012
Other Subordinate
Staff
Basic
2017
20210313701443522405133802078513380207851166018100
21655336151527523710139602168513960216851213518840
23100358601619025135145402258514540225851261019580
24545381051710526560151602355015140235201308520320
25990403501813528165157802451515740244551356021060
27600428501916529770164002548016340253901403521800
29210453502019531375170202644516940263251454022585
30820478502122532980176402741017540272601504523370
32430503502225534585183052844018140281951555024155
34040528502345036440190502959518740291301605524940
35650553502464538295197953075019340300651656025725
37260578502610040555206153202519940310001706526510
38870603502755542815214353330020540319351757027295
40480628502901045075222553457521140328701807528080
42090653503052047420231703599521740338051867529015
43700678503203049765240853741522340347401929529985
45310703503364052265250003883522940356751991530955
46920728503525054765259154025523605367052066032115
48530753503686057265268304167524270377352140533275
50140778503847059765278454325525015388952215034435
  4008062265288604483525760400552289535595
    298754641526505412152364036755
    308904799527250423752438537915
    319054957527995435352513039075
    329205115528740446952587540235
    339355273529485458552662041395
    34950543153023047015  
    35965558953097548175  

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.

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.

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.