LIC AAO Salary 2024 has been updated, introducing an attractive revised basic pay of ₹88,635 for Assistant Administrative Officers (AAOs). This revision enhances the salary structure, making the role even more attractive for candidates wishing to join Life Insurance Corporation of India. As well as a basic salary, employees receive a range of perks, perks and benefits that reflect stability and growth opportunities in this prestigious role. The updated salary package, coupled with the job responsibilities, establishes it as one of the most sought-after opportunities in the insurance sector. In this article, we will discuss the revised salary structure, allowances and career growth prospects for LIC AAOs in 2024.
lic aao salary 2024
Life Insurance Corporation of India offers attractive salary to the students appointed as Assistant Administrative Officer. The Ministry of Finance (Department of Financial Services) has revised the salary structure which is made available through the LIC Salary Revision Notification. The pay scale for Assistant Administrative Officers is Rs. 88,635-4,385(14)-1,50,025-4,750(4)-1,69,025 which has already been revised to Rs. 53600- 2645(14)-90630-2865(4)-102090. The position of AAO offers ample opportunities for career advancement, making it an attractive option for candidates seeking professional growth in their career.
LIC AAO Salary 2024 Structure
Securing the LIC Assistant Administrative Officer post creates a sense of fulfillment in the candidates, mainly due to its status as a Central Government job. The salary structure for LIC AAO follows the pay scale of Rs. 88,635-4,385(14)-1,50,025-4,750(4)-1,69,025. Additionally, the promising career prospects associated with this role further contribute to its attractiveness as a career path. LIC AAO salary package presents an important opportunity for the candidates to establish themselves. LIC AAO 2024 salary details are given below:
| LIC AAO Salary Structure 2024 | |
| Component | Amount (Rs.) |
| basic salary | 88635.00 |
| yes @ 15.38% | 13635.39 |
| cadre special allowance | 8900.00 |
| HRA | 6204.45 |
| transport allowance | 3300.00 |
| gross total income | 120674.84 |
| Deductions: | |
| income tax | 10200.00 |
| new gi scheme | 137.42 |
| Professional tax | 200.00 |
| GIS Premium | 2915.00 |
| total deduction | 13452.42 |
| total payment | 107222.42 |
LIC AAO Salary 2024: Cut
The in-hand salary that an Assistant Administrative Officer in LIC receives is after deducting the gross salary. There are some deductions in LIC AAO salary which include Income Tax, New GI Scheme, Professor Tax, GIS Premium etc.
| LIC AAO Salary 2024: Cut | |
| cut | amount |
| income tax | 10200.00 |
| new gi scheme | 137.42 |
| Professional tax | 200.00 |
| GIS Premium | 2915.00 |
| total deduction | 13452.42 |
LIC AAO Salary 2024: Salary Hike
Initially, the basic salary starts from Rs. 88,635 with an increase of Rs. 4385 for a period of 14 years. Subsequently, the basic pay increased to Rs. 1,50,025 with an increase of Rs. Rs 4750 for the next four years. After this period, the basic pay reaches Rs. 1,69,025.
| LIC AAO Salary: Increase | ||
|---|---|---|
| Year | basic salary | Salary increment |
| 1-14 | Rupee. 88,635 | Rupee. 4,385 (per year) |
| 15-18 | Rupee. 1,50,025 | Rupee. Rs 4,750 (per year) |
| 19 | Rupee. 1,69,025 | , |
LIC AAO Salary Perks and Benefits
Various allowances have been outlined and included in the total salary package. These perks serve as an attractive incentive for the candidates. It is worth noting that these allowances may vary depending on the city of employment. Here is the list of all the allowances that a LIC AAO is entitled to:
| lic aao salary allowances | ||
| allowance | criteria | Rate |
| house rent allowance | Cities with population of 45 lakh and above | 10% of salary, maximum Rs. Subject to Rs 13,000/- per month |
| Cities with population more than 12 lakh but less than 45 lakh | 8% of salary, maximum Rs. Subject to Rs 11,000/- per month | |
| other places | 7% of salary, maximum Rs. 10,500/- per month. | |
| city compensatory allowance | Cities with population of 45 lakh and above | 3% of salary, maximum Rs. Subject to Rs.3,300/- per month |
| Cities with population more than 12 lakh but less than 45 lakh | 2.5% of salary, maximum Rs. Rs 3,100/- per month | |
| Cities with population more than 5 lakh but less than 12 lakh | 2% of salary, maximum Rs. 2,400/- per month | |
| hill allowances | Posted at an altitude of 1,500 meters or above mean sea level |
2.5% of basic pay, maximum Rs. 2,055/-per month |
| Posted at a place which is situated at an altitude of 1,000 meters or more but less than 1,500 meters above sea level | 2% of basic pay, maximum Rs. Rs 1,650/- per month | |
| Situated at an altitude of at least 750 meters above sea level, the place can only be reached through hills 1,000 meters or more high. | 2% of basic pay, maximum Rs. Rs 1,650/- per month | |
- Other benefits that an Assistant Administrative Officer gets are listed below.
- Defined contributory pension.
- Gratuity.
- LTC.
- Cash medical benefits.
- Group Mediclaim.
- Group personal insurance.
- Vehicle loan (two wheeler/four wheeler) as per rules.
- Sodexo Meal Coupons.
- Mobile expenses.
- Supply of daily newspapers and magazines.
- Reimbursement of cost of briefcase/leather bag.
LIC AAO Salary: Job Profile
Some of the roles and responsibilities of LIC Assistant Administrative Officer (AAO) are listed below:
- LIC Assistant Administrative Officer has to make new plans and examine the already existing and new policies.
- LIC Assistant Administrative Officer has to monitor and file claims and settlements of customers.
- Providing assistance and also coordinating with other departments concerned.
- Maintaining cordial relations with customers, interacting with them and resolving their queries.
- To complete the tasks assigned by higher departmental officers on time.
- To inspect existing facts and point out factual errors.
LIC AAO Salary 2024: Probation Period
Candidates selected for the post of LIC Assistant Administrative Officer (AAO) will have to be on probation period for one year from the date of joining. The period of probation may be extended up to two years, during which the performance of the candidates will be monitored as per the existing policy of the Corporation. As per the organization’s policy, candidates who do not meet the expectations may be dismissed.
LIC AAO Salary 2024: Guarantee Bond
Life Insurance Corporation of India has specified a guarantee bond for the candidates appointed as Assistant Administrative Officer (AAO). Candidates will have to undertake to serve the organization for a minimum period of four years from the date of joining including the probation period. Due to any circumstances, if the candidates do not complete the undertaking they will have to pay Rs. 5,00,000/+ GST or such amount as may be prescribed by the Executive Director (Personnel) from time to time.
LIC AAO Salary: Promotion
Every person working in the government sector gets promotion during his job. With salary hike, LIC AAOs are expected to get higher ranking assistants. It will also depend on the performance and experience of the candidate.
- Administrative Officer
- assistant divisional manager
- divisional Manager
- Senior Divisional Manager
- zonal manager
