Leave Travel Concession is applicable to every employee and will be based on their travel location.Dearness Allowances is applicable for everyone and is changed every 3 months and it can be increased or decreased as per inflation rates.City Compensatory Allowance is a 2% to 3% of basic salary which is mostly provided to high-grade officers.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.The percent of increment does changes with a graph of employee work towards the company Annual Increment will be added to Basic Salary which is fixed.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. Basic Pay is initial salaries that are confirmed with the employee of LIC.
Each department has got a different percentage of increment section as their workload differs from others. The range of department are from Actuarial, Inspection, New Business, Finance, Accounts, Claims, Information Technology, Marketing, Sales and Policy Serving.īased on their departments, the LIC employees have distributed their work nature, and accordingly, their allowance and benefits are applied. 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 Based on different perspective of work, an employee salary is being distributed as their monthly payments. The company gives a good amount of salary to its employee as per their nature of work. LIC employee has an important and strict job to do, as a customer respective policy are being written by them.