GIC Officer Scale I Salary – The GIC Assistant Manager Basic pay is ₹ 32,795/- per month for Assistant manager post is one of the main reasons why lakhs of candidates wish to join the General Insurance Company of India – GIC. Along with being a reputed permanent job, various GIC Assistant Manager perks and allowances are also accredited to the employees which is an added advantage to aspirants appearing for the exam.
It is pertinent that candidates get the complete and accurate knowledge of the GIC Assistant Manager salary structure to have realistic expectations and analyze the work profile rightly.
In order to keep the aspirants motivated, we bring to you the detailed GIC Assistant Manager salary structure, along with the GIC basic pay, perks and other benefits provided by the General Insurance Company of India.
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GIC Officer Scale I Salary
GIC Assistant Manager salary is one of the major attractions towards the post. Since the General Insurance Corporation exam is not an annually conducted exam, aspirants across the country wait for an opportunity to join this insurance company. The advantages of getting the designation of Assistant Manager in GIC are many- Lucrative salary, handsome perks, and allowances.
GIC Assistant Manager Pay Scale
The GIC exam salary is given in detail in the official notification of the General Insurance Corporation of India recruitment exam.
The GIC Officer Scale I pay scale of an Assistant Manager in GIC is Rs. 32795 -1610 (14) – 55335- 1745 (4) – 62315.
Also, check the salary for other posts under the Insurance sector in the articles given below:
| LIC AAO Salary | LIC ADO Salary |
| NIACL AO Salary | NIACL Assistant Salary |
GIC Assistant Manager In-hand Salary & Basis Pay
The Basic pay of GIC Assistant Manager Salary is ₹ 32,795/- per month. The GIC Officer Scale I in-hand salary for Assistant Manager post is about ₹65,000/-p.m. With GIC in-hand salary the selected candidates get other benefits which are mentioned in detail further in the article.
GIC Officer Scale I – Perks & Allowances
The GIC salary structure for the officer scale I post also has other allowances apart from the basic pay. These allowances are as per the guidelines set by the Government of the respective departments.
The various allowances that are a part of the GIC Assistant Manager salary structure are as follows:
- Dearness Allowance,
- Newspaper /Internet Allowance,
- Leave Travel Subsidy,
- Medical Benefits,
- House Furnishing Allowance,
- Household Help Allowance,
- Sodexo,
- Personal Accident cover,
- Housing, vehicle and computer loans with subsidized interests, and more.
Further, candidates selected for the post will be governed by “the defined contribution New Pension Scheme (NPS).
On being selected for the GIS Assistant manager post candidates are entitled to the following allowances –
- Travel Allowance – every Officer who is not in receipt of any Transport Allowance under any of the Conveyance Schemes is paid Transport Allowance of Rs.800/- per month.
- House Rent Allowances – Based on the city posting (Tier I, Tier II and Tier III cities) candidates are allowed house rent allowance as given below –
| GIC Assistant Manager – House Rent Allowance City Wise | |
| Rate at which HRA is calculated | Place of posting |
| 10% of pay subject to a maximum of ₹ 3,200/- per month | Cities of Mumbai, Navi Mumbai, Calcutta, New Delhi, Ahmedabad, Bangaluru, Hyderabad, Pune, Faridabad, Ghaziabad, NOIDA, Gurgaon, and Chennai |
| 8% of pay subject to a maximum of ₹ 2,700/- per month | Cities with a population exceeding 12 lacs, except cities mentioned in (a), Gandhinagar and all cities in the State of Goa |
| 7% of pay subject to a maximum of ₹ 2,600/- per month | Cities with a population of 5 lacs and above but not exceeding 12 lacs, State capitals with a population not exceeding 12 lacs, Chandigarh, Mohali, Panchkula, Pondicherry, Port Blair |
- City Compensatory Allowance – Like HRA candidates are allowed for city compensation based on the city their are being posted, which is as follows –
| GIC Assistant Manager – City Compensatory Allowance City wise | |
| Rate at which CCA is calculated | Place of posting |
| 3% of pay subject to a maximum of ₹ 800/- per month | Cities of Mumbai, Navi Mumbai, Calcutta, New Delhi, Ahmedabad, Bangaluru, Hyderabad, Pune, Faridabad, Ghaziabad, NOIDA, Gurgaon, and Chennai |
| 2.5% of pay subject to a maximum of ₹ 760/- per month | Cities with a population exceeding 12 lacs, except cities mentioned in (a), Gandhinagar and all cities in the State of Goa |
| 2% of pay subject to a maximum of ₹ 590/- per month | Cities with a population of 5 lacs and above but not exceeding 12 lacs, State capitals with a population not exceeding 12 lacs, Chandigarh, Mohali, Panchkula, Pondicherry, Port Blair |
Candidates can also know in detail about the following
GIC Officer Scale I Salary Structure – Overview
| GIC Assistant Manager Salary | |
| GIC Assistant Manager Pay Scale | Rs. 32795 -1610(14) – 55335-1745(4) – 62315 |
| GIC Officer Scale I Basic Pay | Rs. 32,795 (Increment for 14 Years = Rs. 1610/-) |
| GIC Assistant Manager Scale I Basic Pay after 14 years | Rs. 55,335 (Increment for 4 Years = Rs. 1745/-) |
| GIC Officer Scale I Maximum Basic Pay | Rs. 62,315 |
| GIC Assistant Manager Gross Monthly Salary | Rs. 65,000/-p.m. |
| GIC Assistant Manager Scale I Total Salary Per Annum | Current CTC (Cost to Company) of Assistant Manager posted in Mumbai is approximately Rs13 lakh per annum. |
Once a candidate is appointed in GIC as an Assistant Manager, he or she can apply for promotions. There are internal exams and interviews conducted in GIC for promotion and there is a lot of scope for growth in terms of career.
Apart from insurance exams, there are various other government exams which are conducted in the country. Aspirants who are looking forward to appear for any such upcoming exam can refer to the salary details for other posts in the articles given below:
