Modi government’s big gift to lakhs of employees! After DA, now basic salary has increased by 17%

There is nice information for LIC workers. It is reported that Modi authorities has accepted 17% enhance within the basic salary of LIC workers.

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There is nice information for LIC workers. Modi authorities has accepted 17% enhance within the basic salary of LIC workers. This will immediately profit about 1 lakh workers and about 30,000 pensioners.

According to the report, this enhance, efficient from August, will value the corporate Rs 4,000 crore yearly. On March 15, LIC shares closed down 3.4 per cent at Rs 926 on the BSE.

DA has been increased by 4%

Let us inform you that this enhance has come after the latest enhance in Dearness Allowance (DA) by 50 % by the federal government. Dearness allowance of central authorities workers has increased by 4%. Let us inform you that in accordance to the suggestions of the seventh Pay Commission,

with this enhance, there may be certain to be a rise within the take-home salary bundle of the central authorities workers. According to the suggestions of the Seventh Pay Commission, cities have been divided into three classes for HRA enhance. These classes are- X,Y & Z.

If an X class worker lives in cities/cities, his HRA will enhance to 30 %. Similarly, the HRA price for Y class can be 20 % and for Z class it is going to be 10 %. Currently, workers dwelling in cities/cities X, Y & Z get 27, 18 and 9 % HRA respectively.

December quarter outcomes

Last month, LIC reported a 49 per cent rise in web revenue to Rs 9,444 crore for the third quarter ending December 2023 (Q3FY24). The nation’s largest insurance coverage firm had reported a web revenue of Rs 6,334 crore in the identical interval a 12 months in the past. Its web premium earnings increased to Rs 1,17,017 crore within the third quarter of the present monetary 12 months, from Rs 1,11,788 crore in the identical interval a 12 months in the past.

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