Shri P. B. Acharya (in Chat n Chat) has requested for posting Pay Revision Chart/s in the LIC PC.
A chart giving some details of pay revision of Class I Officers of LIC w.e.f. 01-08-2012 (Government approval awaited) is furnished below. (I do not have charts of pay revision of other categories of staff)
It is gratifying to know that the the latest pay revision in LIC has been hailed by all including employees working in banks as one of the best revisions. Probably, the leaders of the LIC serving employees could not have done better, says a fully satisfied senior officer of LIC. Hats off to the leaders.
IBA has instructed to step up the basic pay of 2007 for the preceding months notionally at 4440 points by a multiplying factor of 60.15% etc.
LIC will have its own formula. It is better to await to know the details as the DA merger point in LIC is at 4708 while it is at 4440 points in the banks.