LIC Salary Structure New Pay Scales from 01.08.2017 revised on 15.04.2021

Here is the new salary structure of LIC employees as per the new revision of pay scales effective from 01.08.2017 announced by GOI on 15.04.2021. Check LIC Scale 1 officer and Class III & IV employees 2021 basic pay and the increments in new pay band or matrix allotted for each cadre of employees appointed and working in Life Insurance Corporation of India…

LIC is elaborated as Life Insurance Corporation of India which is a leading insurance company in India. It is a state-owned company which has got its branches all over the country. However, the employees who is aligned to service the Indian citizens with insurance policies through LIC are the one leading a prestigious position.

There is a different level of officers assigned disturbed the work, and the employee is termed from Marketing to Disbursement of insurance policy value to the customers. This is one such limited company that has got employees working in a company and other roaming across customers privately for policy distribution.

LIC employee has an important and strict job to do, as a customer respective policy are being written by them. The company gives a good amount of salary to its employee as per their nature of work. Based on different perspective of work, an employee salary is being distributed as their monthly payments.

Here we have given brief description about the content involved in LIC policy holders, and the employee do have access to LIC Pay Slip portal which is an HRMS portal that let them access their pay slips quickly

LIC Salary

The range of department are from Actuarial, Inspection, New Business, Finance, Accounts, Claims, Information Technology, Marketing, Sales and Policy Serving.

Based on their departments, the LIC employees have distributed their work nature, and accordingly, their allowance and benefits are applied. Each department has got a different percentage of increment section as their workload differs from others.

  • Basic Pay is initial salaries that are confirmed with the employee of LIC. It is during their interview and career starting with LIC, and this will fix for a period of prohibition and then changes as per rules.
  • Annual Increment will be added to Basic Salary which is fixed. The percent of increment does changes with a graph of employee work towards the company
  • House Rental Allowance will be changing from 10% to 8% based from metropolitan cities to big cities, and this is a varying amount and can be changed with respect to company policies
  • City Compensatory Allowance is a 2% to 3% of basic salary which is mostly provided to high-grade officers
  • Dearness Allowances is applicable for everyone and is changed every 3 months and it can be increased or decreased as per inflation rates.
  • Leave Travel Concession is applicable to every employee and will be based on their travel location
  • Special Allowance is a part that comes to one who did some growth work monthly
  • Gratuity is added as a part of salary and will be disbursed to LIC employee after compilation for the remuneration period.
  • Group Mediclaim based on the term of Medial insurance is claimed.
  • Defined Contributory Pension is applied to an employee to voluntarily add money for a retirement plan.
  • Accident Insurance is for every employee and a minimum installment year is debited form salary.
  • Loans: This section does hold the deduction part which shows your debits/loans taken from LIC.
  • Taxation: It will hold an amount of income tax, which is deducted from the total salary.

LIC Pay Scale for Officer Class 1

Designation Basic Pay (Rs) from 01.01.2017 Basic Pay (Rs) from 01.01.2012
Zonal Managers
Chief Engineers / Chief Architects
(a) Ordinary Scale :
1,46,095 – 4415(8) – 1,81,415
(b) Selection Scale :
163755 – 4415(2) – 172585
172585 – 4735(1) – 177320
177320 – 5180(1) – 182500
182500 – 5370(4) – 203980
(a) Ordinary Scale :
89095 – 2685 (8) – 110575
(b) Selection Scale :
99835 – 2685(2) – 105205
105205 – 2880(1) – 108085
108085 – 3150(1) – 111235
111235 – 3265(4) – 124295
Deputy Zonal Managers / Senior Divisional Managers
Deputy Chief Engineers / Deputy Chief Architects
130500 – 3780(3) – 141840
141840 – 4255(6) – 167370
79605 – 2300(3) – 86505
86505 – 2590(6) – 102045
Divisional Managers
Superintending Engineers / Senior Surveyors of Works / Senior Architects
107820 – 3780(9) – 14184065805 – 2300(9) – 86505
Assistant Divisional Managers / Senior Branch Managers
Executive Engineers / Surveyors of Works / Deputy Senior Architects
87895 – 2645(1) – 90630
90630 – 2865 (6) – 107820
107820 – 3780(4) – 122940
53725 – 1610(1) – 55335
55335 – 1745(6) – 65805
65805- 2300(4) – 75005
Administrative Officers / Branch Managers
Assistant Executive Engineers / Assistant Surveyors of Works / Architects
72115 – 2645(7) – 90630
90630-2865(6)-107820
44065 – 1610(7) – 55335
55335 – 1745(6) – 65805
Assistant Administrative Officers / Assistant Branch Managers
Assistant Engineers / Assistant Architects
53600 – 2645 (14) – 90630
90630 – 2865(4) – 102090
32795 – 1610(14) – 55335
55335 – 1745(4) – 62315

LIC Salary Structure for Class III

Designation Basic Pay in Rs from 01.08.2017 Basic Pay in Rs from 01.08.2012
Higher Grade Assistant 35310 – 2370(3) – 42420
42420 – 2645(15) – 82095
21655 – 1445(3) – 25990
25990 – 1610(15) – 50140
Stenographer 29530 – 1690(4) – 36290
36290 – 1960(2) – 40210
40210 – 2390(3) – 47380
47380 – 2480(2)- 52340
52340 – 2645(8) – 73500
18135 – 1030(4) – 22255
22255 – 1195(2) – 24645
24645 – 1455(3) – 29010
29010 – 1510(2) – 32030
32030 – 1610(8) – 44910
Assistants
Assistants Appointed as Receiving
Paying Cashiers
23465 – 1375(1) – 24840
24840 – 1500(2) – 27840
27840 – 1690(5) – 36290
36290 – 1960(2) – 40210
40210- 2930(3) – 47380
47380 – 2480(2) – 52340
52340 – 2645(5) – 65565
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
Projectionists
Microprocessor Operators
Record Clerks
23465 – 1375(1) – 24840
24840 – 1500(2) – 27840
27840 – 1690(5) – 36290
36290 – 1960(2) – 40210
40210- 2930(3) – 47380
47380 – 2480(2) – 52340
52340 – 2645(5) – 65565
13380 – 475(4) – 15280
15280 – 745(3) – 17515
17515 – 840(2) – 19195
19195 – 850(6) – 24295
24295 – 915(6) – 29785

LIC Salary Structure for Class IV

Designation Basic Pay in Rs from 01.08.2017 Basic Pay in Rs from 01.08.2012
Drivers Rs. 21740 – 980(6) – 27620
Rs. 27620 – 1015(1) – 28635
Rs.28635 – 1220(12) – 43275
13380 – 600(6) – 16980
16980 – 620(1) – 17600
17600 – 745(12) – 26540
Sepoys, Hamals, Head Peons, Liftmen, and Watchmen 18930 – 775(5) – 22805
22805 – 825(8) – 29405
29405 – 980(1) – 30385
30385 – 1015(2) – 32415
32415 – 1220(3) – 36075
11660 – 475 (5) – 14035
14035 – 505(8) – 18075
18075 – 600(1) – 18675
18675 – 620(2) – 19915
19915 – 745(3) – 22150
Sweepers & Cleaners 17950 – 775(5) – 21825
21825 – 825(8) – 28425
28425 – 980(6) – 34305
11060 – 475(5) – 13435
13435 – 505 (8) – 17475
17475 – 600(6) – 21075

Every employee termed as in LIC will have a series of increments and allowances. All these are added based on their band of work as Finance officer, Disbursement officer, Development Officer, Accounts Officer and Marketing Agent.

Based on the designation, they have their different basic pay and their respective other points in Pay Scale.

LIC Salary structure of an employee will allowance to pay with all the emoluments to check the Net amount of Pay credit in their account by calculating all the above-mentioned points.

Even the holidays taken, and leaves applied will be calculated in LIC Pay revision 2021 to give a fare payment of an employee for the current month.

LIC Wage Revision 2021 Pdf

We provide the document of LIC wage revision 2021 pdf at the below link for ready reference to check the complete gazette notification announced by the Government of India, Ministry of Finance.

Download 2021 wage revision PDF

  1. What is the date of LIC revised pay scale comes into effective?

    As per the Gazette of India, Extraordinary, Part II, Section 3, sub-section (ii), Government of India, Ministry of Finance (Department of Financial Services) notification at New Delhi dated 15th April 2021, the LIC revised pay scales comes into effect.

  2. LIC Salary after Wage Revision?

    From 01.08.2017, the dearness allowance (DA) of LIC employee starts from 0, and the LIC salary after wage revision increase upto 15% fitment announced by GOI.

  3. Will LIC Salary structure differs for each cadre for Class III employees?

    As per LIC pay revision 2021, all the class III employees except Higher Grade Assistant and Stenographer are migrated to one pay band which was effective from 01.01.2017, where in 2015, pay revision effective from 2012 the basic pay are different for some cadres like Assistants, Projectionists and others.

  4. From which date the arrears of LIC wage revision will pay?

    With effect from 01.08.2017, the revised pay scales will be implemented for LIC employee and may pay the arrears as per new pay bands from the said date in this month or in the month of May.

  5. What are the special allowance paid for LIC employee in Pay revision 2021?

    As per the conditions specified in Rule 4, an employee who passes the examination of the Insurance Institute of India shall be paid Special Allowance for officers as Rs. 650 for Licentiate Diploma, Rs. 2600 for Associateship Diploma, Rs.5200 for Fellowship Diploma, and for Class III and IV employees shall be paid at Rs.555, 1505, and 2575.

  6. What is the DA rate for LIC employee at the time of 2021 pay revision?

    LIC employee shall be paid the dearness allowance at 0.08% on new pay bands or pay scales revised in 2021 effective from 01.08.2017 at Base: Index No.6352 in the series 1960 = 100.

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2 thoughts on “LIC Salary Structure New Pay Scales from 01.08.2017 revised on 15.04.2021”

  1. I salute Pandit Jawahar Lal Nehru Primeminister of India for starting LIC 01/11/1956, LIC serving India

    Reply

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