Update from Sh Rajesh Kumar ( Jamshedpur) General Secretary AILICEF
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Today's briefing session with Unions was addressed by Chairperson in the presence of Managing Director, Executive Director (Personnel) and other officials of personnel department.
Highlights of today's session was -
1. Hike on wage bill as on 1.8.2022 is 17%.
2. AICPI points merged is 8456.
3. Neutralization of 100% DA as on 1.8.2022.
4. DA linked to AICPI(Base 1960=100)
5. New DA rate after wage revision 0.06%.
6. Consequential hike given to max & min limits of HRA & CCA
7. Increase in special area allowance 50%
8. 14% of Basic Pay and DA of the employees who are appointed on or after 1.4.2010 will be contributed to their NPS account.
9. Ex-gratia single lump sum to pensioners/family members of Pension Scheme 1995 aged 70 years and above.
*Individual Session with Unions will be called shortly*.
*Notification expected anytime*
*AILICEF thanked Chairperson for a handsome wage revision*. It is the best wage revision in the history of LIC. We asked for additional stagnation increment for Class 3 to which ED replied that it will lead to complications but was ready to discuss.
*Rajesh Kumar*
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