NIACL AO Salary 2024
NIACL AO Salary 2024 – The New India Assurance Company Ltd., a well-known government-owned insurance company recruits for the post of Administrative Officers. If you are interested in the NIACL AO (Administrative Officer) Generalist Scale-I posts, you might be eager to know the salary structure. As a Generalist Administrative Officer, you will have important responsibilities at New India Assurance and will be offered an attractive salary along with various perks and allowances. In this article we shared all information related to the job profile and salary structure.
NIACL AO Salary 2024 – Overview
New India Assurance looks to hire Administrative Officers (Scale-I) for various disciplines like Generalists, Risk Engineers, Automobile Engineers, Legal, Accounts, Health, and IT. Last year, there were 450 open positions. To be eligible, you need to be a Graduate/Post Graduate and aged between 21 to 30 years. The selection process includes Prelims, Mains, and an Interview. The offered salary is Rs. 80,000/- per month. For more information, you can visit www.newindia.co.in.
|New India Assurance
|Administrative Officer (Scale-I)
|Generalists, Risk Engineers, Automobile Engineers, Legal, Accounts, Health, IT
|21 to 30 years
|Rs. 80,000/- per month
NIACL AO Salary 2024 – Salary Structure
Candidates who are selected through NIACL AO Recruitment 2024 need to work for a minimum of 4 years, which includes a 1-year probation period. During this time, they will receive a salary of approximately Rs. 80,000/- per month. Below is the salary structure for the Administrative Officer at New India Assurance, as mentioned in the latest notification for NIACL AO 2023. The salary scales for NIACL AO are set to be revised since August 2017.
|Rs. 32, 795
|Allowances & Perks including DA, HA, TA & others
|Rs. 80,000/- for metro cities
NIACL AO Salary 2024 – In-Hand Salary
The starting basic pay for NIACL AO Scale-I is Rs. 32,795/-. With the pay scale of 32795-1610(14)-55335-1745(4)-62315, there will be additional allowances. The total monthly salary for Administrative Officer (Generalist) will be around Rs. 80,000 in Metropolitan cities and between Rs. 75,000 to 80,000 in other cities.
NIACL AO Salary 2024 – Perks and Other Allowances
Employees in NIACL AO positions enjoy attractive benefits and allowances, which is why many candidates are drawn to these national insurance jobs. Some of the allowances given to Administrative Officers include:
- Dearness allowance
- House rent allowance
- Transport allowance
- City compensatory allowance
- Company/leased accommodation
Apart from the basic pay and allowances, NIACL employees also receive additional benefits such as coverage under the National Pension System governed by PFRDA, Gratuity, LTS, Medical Benefits, and Group Personal Accident Insurance.
Reimbursements are also provided to cover various expenses, including maintenance of vehicles for official purposes, newspaper expenses, briefcase allowance, book grant, and allowance for furnishing their residence, based on eligibility.
NIACL AO Salary 2024 – Job Profile
Here are the responsibilities of an Administrative Officer (Generalist) at New India Assurance Co. Limited explained in simple terms:
- Job Profile: NIACL AO (Generalist) is an entry-level administrative position at Scale-I.
- Policy Management: The Administrative Officer is responsible for dealing with policymaking. This involves formulating rules and guidelines for insurance coverage.
- Risk Proposals: They assess and evaluate risk proposals. This means they analyze the potential risks involved in providing insurance coverage to individuals or entities.
- Authorization of Claims: The AO has the authority to approve or authorize insurance claims. They review claims made by policyholders and decide whether to grant coverage or not.
- Official Reports: The AO files official returns and statements. These documents contain important information and have to be shared with higher regional offices.
- Insurance Policies: They manage and oversee the issuance of insurance policies. This includes handling the paperwork and ensuring that policies are accurately issued to customers.
- Settling Insurance Claims: The AO is responsible for overseeing the process of settling insurance claims. They work to resolve claims in a fair and timely manner.
An Administrative Officer (Generalist) at NIACL plays a vital role in policymaking, assessing risks, approving claims, managing insurance policies, and handling official reports and statements. They are essential in ensuring smooth insurance operations and providing quality service to policyholders.
NIACL AO Salary 2024 – Career Growth
Here is a simple step-by-step explanation of the information:
- Bond and Undertaking: When employees are hired as Administrative Officers (Generalist), they are required to sign a bond and give an undertaking. This means they commit to working with the company for at least four years, which includes a one-year probation period.
- Increased Responsibilities: After the initial four-year period, the responsibilities of Administrative Officers increase. This means they may be entrusted with more significant tasks and duties within the company.
- Salary Increments: Along with the increased responsibilities, there are also salary increments for NIACL AO. This means that as employees progress in their roles and gain more experience, their salary will also increase accordingly.
In summary, employees joining as Administrative Officers (Generalist) commit to working with the company for four years, during which their responsibilities grow, and they receive salary increments based on their performance and experience.
NIACL AO Salary 2024 – Frequently Asked Question
Ans. The in-hand salary of an Administrative Officer in NIACL is approximately Rs. 80,000/- per month (for metro cities).
Ans. Selected candidates as Administrative Officers (AO) are required to commit to serving the company for a minimum of 4 years.
Ans. The initial basic pay of an Administrative Officer (Scale-I) in NIACL is Rs. 32,795/- per month.
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