Sunday, January 17, 2016

L.I.C. wage revision notification issued!

Govt. has notified the wage revision for L.I.C employees.
L.I.C. Management issued circulars for payment for arrears from 01.08.2012.

Till 1990 L.I.C. wages are far below Bank employees wages .
Slowly and steadily they have touched us, crossed us and now gone beyond reach now.

My sincere Greetings to the union of L.I.C., particularly the majority union "AIIEA"

I give below the comparison table for your information.
L.I.C. employees may analyse and point out any mistake in calculation/concept. I may correct it.

Highlights of L.I.C. Wage Settlement!
D.A. Merger upto the date of expiry of settlement date!
In Banks One year D.A. is retained instead of merging!

15.95% Loading on Basic Pay!
No cap on loading (2%) like Banking Sector!
25.60% INCREASE in Pay Slip component!
In Banks it is 15%!
No Reduction of Pension due to Wage Revision and Incremental Commutation!
Pension, Commutation, Gratuity all are increased Substantially after wage revision!
In Banks Pension is reduced by more than 10% instead of Increase!
Gratuity as per Regulations, Surpass Maximum limit as per act (10,00,000)!
Many more positive points, which L.I.C employees may explain well!

Those who wish to read full settlement may go to the following link


Shankar Krishnamoorthy said...

Bank employees at least by now think of your position settlement by settlement you are going down and will be one of the least paid sector LONG LIVE UFBU

Shankar Krishnamoorthy said...
This comment has been removed by the author.
Anonymous said...

Initial basic of assistant is wrong...its 14435 not 16490....also CCA is not payable at every place..also max basic of hga 50140 not 59800...u could hv checked it by urself in notification before posting here....and also stop downgrading morale of bank employees....licians r no comparison to us....

Kumar Periyasamy said...

1.Starting Pay includes 2 increments for Graduation.
2. Max Pay includes Additional increments after reaching maximum in the scale. It is called Stagnation increments in Banks.
Hence what I mentioned is correct.

Dipankar Mukherjee said...

Would not still UFBU not reopen 10th BPS when they are to look after the welfare of the Bank Employees.

Anonymous said...

The Govt has advised Banks /IBA to initiate Negotiations for wage revision. There are wide spread anguish and resentment among retiring people for the reduction and poor last BPS due to 'Big Brother' who ditched the Bank employees for his one-upmanship. Further, IBA has be fooled 'Big Brother' and he has accepted the '2% increase' without analyzing what it was. To get a better deal, the retired people organisation should be included in UFBU so as to take care of retiring employees. If BB is left out wage revision will be a good one.

Anonymous said...

Please give comparison of AAO and Bank officer

anup chowdhuri said...

Now the leaders are sleeping like KUMBHKARNA up to 31.10.2017

Anonymous said...


anup chowdhuri said...

Now the leaders are sleeping like KUMBHKARNA up to 31.10.2017

anup chowdhuri said...

Now the leaders are sleeping like KUMBHKARNA up to 31.10.2017

Ramesh Kumar Saini said...

Question of reopening 10th BPS does not arise, because UFBU leadership . UFBU leaders purchase able items & purchased by IBA that too at the cost of Sr.bankers/ retired bankers,simple question ,When15% increase was achieved why everything I mean to say allowances were not increased by 15%.Leaders ke dimag Ka diwala nikel chuka hai.

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Prashant Tripathi said...

Lic hfl assistant and lic assistant salary are same?

Ram Prasath said...

Sir can I know what's is the fitment factor of lic of india in 7 th pay commission??