LIC HFL Junior Assistant Salary 2024, In-Hand Pay, Job Profile, Perks & Allowances

LIC Housing Finance Limited announced 200 vacancies for the position of Junior Assistant. Candidates interested and eligible for the LIC HFL Recruitment 2024 have the curiosity to know the salary structure before applying. The net LIC HFL Junior Assistant Salary 2024 ranges from Rs. 32,000 to Rs. 35,200, depending upon the place of posting.

Along with the basic pay, the total emoluments include Basic pay, HRA, Other benefits & PF – Company contribution. Other than the salary structure, candidates must know the job profile and career growth opportunities within the organization. The given article provides a detailed overview of LIC HFL Junior Assistant Salary 2024.

LIC HFL Junior Assistant Salary 2024

The position of LIC HFL Junior Assistant is a good career option for candidates aiming to join the bank/insurance sector. The selected candidates will be on a probation period of 6 months from the date of joining and it can be extended as per the rules. The net LIC HFL Junior Assistant Salary 2024 is lucrative and other than the perks and allowances the employees will be eligible for Mediclaim, Gratuity, Group Insurance Scheme, Housing Loan, and Performance Linked Incentives.

LIC HFL Junior Assistant Salary Structure

The salary structure for LIC HFL Junior Assistants is designed to provide a competitive and attractive remuneration package. The basic pay of a LIC HFL Junior Assistant is Rs. 20,000 with the overall salary estimated to Rs.32,000-Rs.35,200. The key components of the salary are as follows:

The net LIC HFL Junior Assistant Salary varies along with the place of posting. The cities have been divided into three categories and here we have discussed the salary structure city-wise.

Also Read, LIC HFL Junior Assistant Recruitment 2024

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 LIC HFL 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: Manages Cash Counter, payments, and maintain 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.
• Have to keep regular follow by calling the customers of regular and default cases for EMI.
• Marketing Activities: Performs basic marketing activities or any other business-related activity according to the line of business conducted by the Life Insurance Corporation of India Housing Finance Limited.

LIC HFL Junior Assistant 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.

LIC HFL Junior Assistant Probation Period

The probation period for LIC HFL Junior Assistants lasts for six months from their date of joining. It may be extended beyond this initial period based on company rules and performance evaluations.