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LIC Class I Officers (Special Allowance for Passing Examinations of Insurance Institute of India) Rules 2021

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LIC Class I Officers (Special Allowance for Passing Examinations of Insurance Institute of India) Rules 2021 – LIC Wage Revision Notification – Gazette Notification G.S.R. 267(E) – Dated 15.04.2021

MINISTRY OF FINANCE
(Department of Financial Services)
NOTIFICATION

New Delhi, the 15th April, 2021

G.S.R. 267(E).—In exercise of the powers conferred by clause (cc) of sub-section (2) of section 48 of the Life Insurance Corporation Act, 1956 (31 of 1956), the Central Government hereby makes the following rules, namely:—

1. Short title and commencement.—(1) These rules may be called the Life Insurance Corporation of India Class I Officers (Special Allowance for Passing Examinations of Insurance Institute of India) Rules, 2021.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. Application.—These rules shall apply to whole-time, salaried and confirmed Officers of the Corporation.

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3. Special Allowance.—Subject to the conditions specified in rule 4, an officer who passes such examination of the Insurance Institute of India as is set out in column (1) of the Table below, shall be paid Special Allowance as specified against the corresponding entry in column (2) of the said Table:

TABLE

Name of the examination of Insurance Institute of India Amount of special allowance payable per month
(1) (2)
Licentiate Diploma Rs. 650
Associateship Diploma Rs. 2,600
Fellowship Diploma Rs. 5,200

 

4. Conditions.-

1. An officer who has passed one or more examinations of Insurance Institute of India prior to promotion as Class I Officer shall be eligible for the allowance for the examination passed while in Class I reduced by the allowance as per above table for the examination passed prior to promotion as Class I officer.

2. An officer who has passed all examinations of Insurance Institute of India prior to promotion as Class I officer shall not be eligible for the said allowance on promotion to Class I.

Provided that such Officer whose pay is fixed at the minimum of the scale on promotion to Class I shall be eligible for half of the allowance specified under rule 3.

[F. No. S-11012/03/2018-Ins. I]
SAURABH MISHRA, Jt. Secy.

Click here to download Gazette Notification Copy

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