NICL AO Salary 2024
The NICL AO (Administrative Officer) Salary 2024 is an important consideration for candidates aspiring to join the National Insurance Company Limited. The NICL AO Recruitment 2023 Notification released on December 29, 2023. The salary for NICL AO positions is subject to the regulations and policies of the organization and include various components such as basic pay, allowances, and perks. Successful candidates can look forward to a competitive salary along with extra benefits, making their careers in the insurance sector fulfilling. Those interested are encouraged to read on for detailed information about the NICL AO Salary structure, perks, and allowances.
National Insurance AO Salary 2024 – Overview
National Insurance Company Limited has announced 274 vacancies for the post of Administrative Officer (Generalist and Specialists) (Scale I). The NICL AO Notification 2023 was released on December 29, 2023, and the online application process starts on January 2, 2024, concluding on January 22, 2024. The selection process involves Prelims and Mains, with a competitive salary of Rs. 85,000/-. For more information, applicants can visit the official website www.nationalinsurance.nic.co.in.
| Particulars | Details |
|---|---|
| Organisation | National Insurance Company Limited |
| Post Name | Administrative Officer (Generalist and Specialists) (Scale I) |
| Vacancy | 274 |
| Notification Release Date | 29th December 2023 |
| Application Mode | Online |
| Application Starting Dates | 2nd January 2024 |
| Last Date To Apply Online | 22nd January 2024 |
| Selection Process | Prelims and Mains |
| Salary | Rs. 85,000/- |
| NICL Official Website | www.nationalinsurance.nic.co.in |
NICL Administrative Officers Salary Structure
The starting Basic Pay for NICL AO (Administrative Officers) is Rs. 50,925/-. With increments in the scale of Rs. 50925-2500(14)-85925-2710(4)-96765, the total emoluments in Metropolitan Centres are around Rs. 85,000/- per month. Additional benefits include allowances, pension, gratuity, medical benefits, and accommodation as per company rules. MBBS Specialist Officers may receive a 25% Non-Practicing Allowance.
| Details | Amount/Information |
|---|---|
| Basic Pay | Rs. 50,925/- to start, with increments as per the scale Rs. 50925-2500(14)-85925-2710(4)-96765. |
| Allowances | Additional allowances as per company rules. |
| Total Emoluments | Approximately Rs. 85,000/- per month in Metropolitan Centres. |
| Additional Benefits | Pension under the New Pension scheme, Gratuity, LTS, Medical Benefits, Group Personal Accident Insurance, etc., as per company rules. |
| Accommodation | Officers entitled to Company’s/leased accommodation. |
| NPA for Doctors | MBBS Specialist Officers eligible for Non-Practicing Allowance (NPA) at 25% of Basic Pay, subject to conditions. |
NICL AO Guarantee Bond
The NICL AO Guarantee Bond is a commitment by selected Administrative Officers to serve the National Insurance Company for four years, including probation. Resigning early may incur liquidated damages of one year’s gross salary. Details, including surety requirements and consequences for early resignation, are explained comprehensively below.
- Undertaking: Once selected, candidates commit to working for the company for a minimum of four years, which includes the probation period.
- Resignation Consequence: If a candidate resigns before completing the agreed-upon four-year period, they must pay a penalty known as liquidated damages. This penalty amounts to one year’s gross salary, calculated during the probation period.
- Bond and Sureties: Candidates are required to submit a stamped bond, a formal agreement, supported by two sureties. These sureties must be individuals of sound financial standing and not related to the candidate. The bond’s value should be equal to one year’s gross salary.
- Probation Termination: Should a candidate resign or be terminated during the probation period, they are obliged to pay their entire gross salary received during their service. Additionally, a sum of Rs. 25,000/- is to be paid towards covering partial training costs.
- Lien/Bond with Present Employer: Any existing lien or bond with the current employer is not considered binding upon the National Insurance Company. Furthermore, the company does not provide Leave Salary or Pension Contribution in such cases.
National Insurance Administrative Officers Probation Period
Officers in the company undergo a one-year probation period, extendable twice for six months each. During this time, they must pass the non-life “Licentiate Examination” by the Insurance Institute of India. Failure to pass within the extended probation period may result in termination. The company reserves the right to terminate if suitability issues arise.
| Details | Information |
|---|---|
| Probation Period | Upon joining, officers are on probation for one year, extendable twice by six months each, up to a maximum of one year. |
| Licentiate Examination | During probation, officers must pass the non-life “Licentiate Examination” conducted by the Insurance Institute of India to be eligible for service confirmation. |
| Failure Consequence | Failing the examination within the extended probation period may lead to termination from service upon specified period expiry. |
| Termination Right | The Company retains the right to terminate a candidate if found unsuitable at any time during the probation or extended probation period, without notice or providing a specific reason. |
National Insurance Company Limited AO Service Condition
Service conditions follow the Company’s rules, subject to updates. Appointed candidates may be posted anywhere in India as per the Company’s needs, requiring a minimum 5-year stay at the initial posting. Specialist Officers might continue in the same field for 10 years, but promotions follow Company norms. Complete details are mentioned below.
Service Conditions and Posting Policies:
- Applicability of Rules: Service conditions adhere to the prevailing rules of the Company, subject to updates over time.
- Posting and Transfer: Selected candidates may be posted or transferred anywhere in India as per the Company’s requirements.
- Minimum Stay: A minimum stay of 5 years at the initial place of posting is required for appointed candidates.
- Specialist Officers Requirement: Specialist Officers may be required to continue in the same specialization for a minimum of 10 years, as decided by the Company.
- Promotion Eligibility: Despite specialization requirements, officers remain eligible for promotions as per Company norms.
NICL AO Salary 2024 – FAQs
The starting basic pay is Rs. 50,925/-, with additional increments in the prescribed scale.
Yes, officers receive various allowances as per the company’s rules, contributing to the overall salary package.
Additional benefits include pension under the New Pension Scheme, gratuity, LTS, medical benefits, group personal accident insurance, and accommodation norms.
Yes, selected candidates are required to give an undertaking to serve the company for a minimum of four years, including the probation period.
The probation period is one year from the date of joining, extendable twice by a further period of six months each, stretching up to one year.
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