Great news for LIC personnel! There will be a tremendous increase in salary

LIC has brought a lot of good news for its employees. LIC is preparing to increase the salary of its employees. It is being told that a hike of 15 to 25% is being said. With this, it has been approved to work 5 days a week.

With this, 1.14 lakh LIC employees will be benefited. And the government is soon launching an IPO of LIC, whose employees union is opposing it.

It has been said that the Central Government has approved this package on Thursday. This package will be considered in effect from August 1, 2017. All India Insurance Employees Union (AIIEA) General Secretary Shrikant Mishra told news agency IAANS, “The salary for the employees is expected to increase by 25 per cent per month.”

LIC may have to spend an additional Rs 2,700 crore every year on this. An additional allowance of Rs 1,500 to Rs 13,500 will be introduced in the salary of all cadre employees, based on which the dearness allowance will be calculated.

LIC’s IPO will be launched by the end of this year. LIC will set a separate quota for subscribers in its IPO. Minister of State for Finance Anurag Thakur recently said that the government will continue to have a controlling stake in LIC. Which means that the ownership of the company will remain with the government. Thakur said that the management control of the company will also remain with the government to protect the interests of the shareholders.