LIC HFL Salary 2024, Salary Structure, Pay Scale, Allowances & Job Profile

Hello Dear Aspirants,

The Life Insurance Corporation Housing Finance Limited (LIC HFL) released a notification for the recruitment of 200 Junior Assistants on 25 July 2024. Aspiring candidates can apply for these posts from 25 July to 14 August 2024. This article provides a detailed overview of the salary structure, pay scale, allowances, and job profile for the Junior Assistant position.

LIC HFL Salary 2024

Check here the Pay Scale, in-hand Salary Structure, Allowances, Perks, and Promotion Policies offered to LIC HFL Junior Assistants. Go through the LIC HFL Salary 2024 and pay scale for the Assistant post below along with the perks offered to them in the LIC Housing Finance Limited. LIC HFL will be conducting the LIC HFL 2024 Exam probably in the month of September for the recruitment of over 200 Vacancies.  In this article, we have shared below the complete information related to LIC HFL Salary 2024.

LIC HFL Salary Structure 2024

The salary structure for LIC HFL Junior Assistants is designed to provide a competitive and attractive remuneration package. The key components of the salary are as follows:

LIC HFL Salary Structure 2024
Component	Amount
Basic Pay	₹20000
HRA	₹4400
Other Benefits	₹10800
Gross Pay	₹35200
Less: PF Contribution	₹2400
In hand Salary	₹32800

LIC HFL Salary Perks & Allowances 2024

In addition to the basic salary components, LIC HFL Junior Assistants enjoy various allowances and benefits, making the overall package lucrative:

• Dearness Allowance (DA): DA is a cost of living adjustment allowance and is calculated as a percentage of the basic pay. It is revised quarterly based on the Consumer Price Index (CPI).
• House Rent Allowance (HRA): HRA varies according to the city of posting:
  • Tier I city: ₹4400
  • Tier II city: ₹3600
  • Tier III city: ₹3000
• Medical Benefits: Medical insurance covers the employee and their dependents.
• Leave Travel Concession (LTC): Employees are eligible for LTC, which covers travel expenses for employees and their families to their hometown or any other destination in India.
• Provident Fund (PF): A mandatory retirement savings scheme, where both the employer and employee contribute a fixed percentage of the basic pay.
• Gratuity: A lump sum payment made to employees on their retirement or resignation, provided they have completed a minimum period of service.
• Performance-Based Incentives: Every year based on quarterly/annual performance; employees will be eligible for increments of up to 10% on the “Total Annual” salary

Job Profile of a Junior Assistant

The role of a Junior Assistant in LIC HFL is crucial for the smooth functioning of the organization. The key responsibilities include:

• Clerical Duties: Managing and maintaining records, data entry, and filing documents.
• Customer Service: Assisting customers with their queries, providing information about products and services, and resolving issues.
• Financial Transactions: Handling cash receipts, payments, and maintaining accounts.
• Support to Senior Officers: Assisting senior officers in their daily tasks, preparing reports, and performing other administrative duties.
• Document Verification: Verifying and processing applications, loan documents, and other financial documents.
• Office Management: Ensuring the office runs smoothly by coordinating with various departments and managing office supplies.

Career Growth and Opportunities

A Junior Assistant in LIC HFL has ample opportunities for career growth. With experience and performance, one can move up the ladder to higher positions such as Assistant, Associate, and Manager. LIC HFL also encourages employees to pursue further education and training to enhance their skills and knowledge.

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