Finance Ministry has issued the Gazette Notification vide GSR nos. 28 (E) to 32 (E) dated 14.1.2016 for Wage revision in LIC effective from 1.8.2012. (The same wage structure will apply for GIC employees also but their notification will be published separately within one week.)

DOWNLOAD LIC WAGE REVISION 2012 NOTIFICATION HERE – http://egazette.nic.in/WriteReadData/2016/167596.pdf

ALL INDIA INSURANCE EMPLOYEES’ ASSOCIATION
LIC BUILDING SECRETARIAT ROAD HYDERABAD 500 063
(E-mail: aiieahyd@gmail.com)
Cir.No.3 / 2016 15th January, 2016
To
All the Zonal/Divisional/State/Regional Units
Dear Comrades,
Wage Notification Issued in LIC
Administrative Instructions for payment being issued
We are happy to inform that the Finance Ministry has issued the Gazette Notification vide GSR nos. 28 (E) to 32 (E) dated 14.1.2016 for Wage revision in LIC effective from 1.8.2012. The Administrative instructions are being issued for payment of the arrears. The program for arrears’ calculation has been sent to the Offices. Thus the successful struggle for wage revision has reached its finality and the fruits of the struggle will start flowing to the employees. We congratulate the employees for reposing their unflinching faith in the organization to deliver them a good wage revision.
The Finance Minister has cleared the wage revision for General Insurance. It may take a little over one week for the notification for General Insurance. The Notification for 5 day week in LIC will also take some more time.
We had informed earlier that LIC has recommended some more improvements over the offers made on 16th October 2015 following discussions with AIIEA. The improvements are as follows:
PAY SCALES:
Sweeper: Max Basic Pay has been increased to Rs. 21075 from earlier Rs.21005 and the max increment is raised to Rs.600 from Rs.595.
Peon: Max Basic Pay has been increased to Rs. 22150 from earlier Rs.22080 and the max increment is raised to Rs.745 from Rs.740.
Driver: Max Basic Pay has been increased to Rs. 26540 from earlier Rs.26445 and the max increment is raised to Rs.745 from Rs.740.
R.C.: Max Basic Pay has been increased to Rs. 29785 from earlier Rs.29700 and the max increment is raised to Rs.915 from Rs.910.
Assistant: Min. Basic Pay has been increased to Rs.14435 from Rs.14430 and the Max Basic Pay has been increased to Rs. 40080 from earlier Rs.39915 and the max increment is raised to Rs.1610 from Rs. 1600.
Steno: Min. Basic Pay has been increased to Rs.18135 from Rs.18115 and the Max Basic Pay has been increased to Rs. 44910 from earlier Rs.44715 and the max increment is raised to Rs.1610 from Rs.1600.
H.G.A.: Min. Basic Pay has been increased to Rs.21655 from Rs.21620 and the Max Basic Pay has been increased to Rs. 50140 from earlier Rs.49925 and the max increment is raised to Rs.1610 from Rs.1600.
HRA CEILINGS: The limits have been increased to Rs. 5320; 4490; 4370 from Rs.5200; 4370; 4200 for A; B; C class cities respectively.
CCA CEILINGS: The limits have been increased to Rs.1055; 990; 850 from Rs. 1000; 935; 800 for A; B; C class cities respectively.
Transport Allowance: This amount has been increased to Rs. 460 from Rs. 440.
Medical Benefit lump sum: Enhanced to Rs. 6650 from Rs.6000.
Special Allowance for passing examinations:
Licentiate : Enhanced to Rs. 340 from Rs.330
Associate ship : Enhanced to Rs.925 from Rs.915
Fellowship: Enhanced to Rs. 1585 from Rs.1575
Similarly other exam allowances have been enhanced on similar basis.
The wage revision struggle was an intense political battle. The AIIEA could secure a very good wage revision in the most difficult political and economic environment. Some issues still remain pending like another pension option. We also have to resist the Transfer and Mobility Policy. Therefore, it is necessary to further strengthen the AIIEA both financially and ideologically. We once again congratulate the insurance employees for the magnificent achievement.
With greetings,
Comradely yours,
V Ramesh
General Secretary