According to the information given by Insurance Corporation of India (LIC), the government has approved a 17 percent increase in the salaries of more than 1.10 lakh employees of LIC.
New Delhi. Before Holi, the country’s largest life insurance company Life Insurance Corporation of India (LIC) has given a big gift to 1.10 of its employees. Actually, LIC has announced increase in the salary of its employees. According to the information given by the insurance company, the government has approved a 17 percent increase in the salaries of more than 1.10 lakh LIC employees.
This approval on increase in salary of LIC employees comes a few days after approving a similar increase for public sector bank (PSB) employees. LIC said that this decision of salary increase for LIC employees is effective from August 1, 2022.
LIC of India’s Wage Hike News pic.twitter.com/eqWVyAzfnA
— LIC India Forever (@LICIndiaForever) March 15, 2024
NPS contribution also increased by 4 percent
With this, the NPS contribution of about 24,000 employees who joined the insurance company after April 1, 2010, has been increased from 10 percent to 14 percent. One-time ex-gratia payment has also been made to more than 30,000 pensioners and family pensioners of the country’s largest insurance company.
NPS contribution also increased by 4 percent
With this, the NPS contribution of about 24,000 employees who joined the insurance company after April 1, 2010, has been increased from 10 percent to 14 percent. One-time ex-gratia payment has also been made to more than 30,000 pensioners and family pensioners of the country’s largest insurance company.
Increase in salaries of government bank employees
Recently, employees of public sector banks across the country have received a big gift. There will be an annual increase of 17 percent in the salaries of officers and employees of public sector banks. About 8 lakh bank employees will benefit from this decision, which will be effective from November 2022. An annual salary increase of 17 percent was agreed between the Indian Banks Association (IBA) and bank employee organizations on Friday (8 March). This will put an additional burden of Rs 8,284 crore annually on public sector banks.
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