NICL Administrative Officer Salary Structure
NICL is one of the five assurance companies with headquarters in Kolkata and is owned by Government of India.So,Today we will be discussing some frequent doubts are asking from last few days regarding National Insurance Company Limited (NICL) AO Salary, Perks and Emoluments.
NICL AO Salary and Allowances
The AOs are recruited in the pay scale of 32795-1610(14)-55335-1745(4)-62315. That is, a newly recruited AO will have a basic pay of Rs. 32795/- and after one year, he/she will get an increment of Rs 1610. Likewise, he/she will get 14 such increments and when the Basic Pay reaches Rs. 55335, he will be eligible to get an increment of Rs 1745 for further 4 years till his salary reaches Rs. 62315.
AOs are eligible for many allowances. These include Dearness Allowance, House Rent Allowance, City Compensatory Allowance, Transport Allowance etc., which are revised from time to time during settlements and are also eligible for reimbursements like Newspapers, Briefcase, Furniture (as per eligibility), books , Group Personal Accident Insurance and LTC etc.
Some locations include the quarter facilities for the newly recruited AOs but it is purely subject to availability.
AOs are eligible to get reimbursements of medical charges as per eligibility and get some of the dispensary facilities.
AOs get loans and advances at a much cheaper rate for Housing, Vehicle, Computers etc. and AOs are covered by the NPS scheme by NSDL and have the benefit of gratuity.
Approximately, NICL AO gross salary is Rs. 51000/- per month and the CTC excluding the Housing/Quarters comes out to be Rs. 650000/-
AO Work Pressure and Office timings
There is very less work pressure as this is not a “target” based job, however, but there are some offices which have too much business and there is some work pressure. Generally, the work pressure is less in divisional offices/ regional office or head office.
The regular office timings are 9:30 am to 5:30 pm and all weekends are off unlike banks where only 2nd and 4th weekend is off. The work load is also less as compared with the banks. The branches do have fixed targets but they are not linked to salary, that is, your salary won’t be impacted in case you do not achieve the targets.
There are no Earned Leaves during probation period i.e. for 1. For first year, you are entitled for only Casual Leaves which will be credited to leave balance after every 1 month. After completion of, probation Earned Leave is credited one day after every 11 days. Also, Sick Leaves are30 days per year, whenever you want.
The NICL AO post is one of the best posts for people aspiring to build a career in the field of insurance.
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