The financial year 2020-21 has brought a big gift for 1.14 lakh employees of LIC.
The financial year 2020-21 has brought a big gift for 1.14 lakh employees of LIC. According to a union leader of LIC, the salary of LIC employees has increased by 25 per cent. This revised salary of employees has been announced by the Central Government on Thursday. This increase will be effective from 1 January 2017.
Shrikant Mishra, General Secretary of All India Insurance Employees Association (AIIEA), said that the salary hike of employees in this difficult time has made them very happy. It is expected that this salary increase will increase the salary of the employees of the company by about 25 per cent.
This increase will increase the burden of Rs 2,700 crore in the total salary bill of LIC. He further said that LIC employees will have to work only 5 days a week.
Let us know that LIC is in the process of launching an IPO, which will be India’s largest IPO till date. LIC is India’s largest and oldest insurance company. Which has 72% market share. LIC accounts for 66.2 per cent of the insurance industry’s first year total premium collection. The estimated valuation of LIC is between 9 to 10 lakh crores.
