The Insurance Regulatory and Development Authority of India (IRDAI) has published the recruitment notification for 49 posts of Assistant Manager. IRDAI is a government organization responsible for ensuring the smooth functioning of the insurance sector in India. It oversees policy implementation and expects Assistant Managers to actively assist the public in investing in insurance companies.
The Assistant Manager is a vital position in the organization, responsible for a range of functions that support the regulatory and developmental objectives of the IRDAI. Candidates interested in this post should be aware of the IRDAI Assistant Manager’s salary, allowances, and job profile.
IRDAI Assistant Manager Salary Structure 2024
The IRDAI Assistant Manager’s salary structure includes various allowances added to the basic pay. The starting basic salary for an IRDAI Assistant Manager is Rs. 44,500 per month. Candidates are eligible for career growth and promotions based on their performance. Here is a detailed salary structure:
| Period | Basic Pay | Increment Offered |
|---|---|---|
| Initial | Rs. 44,500 | Rs. 2,500 |
| After 4 Years | Rs. 54,500 | Rs. 2,850 |
| After 7 Years | Rs. 74,450 | Rs. 2,850 |
| After 11 Years | Rs. 85,850 | Rs. 3,300 |
IRDAI Assistant Manager Pay Scale 2024
The pay scale for IRDAI Assistant Managers is Rs. 44,500-2,500(4)-54,500-2,850(7)-74,450-EB-2,850(4)-85,850-3,300(1)-89,150 (17 years).
IRDAI Assistant Manager Gross In-Hand Salary
The gross salary of an IRDAI Assistant Manager typically ranges between Rs. 44,500 to Rs. 89,150 per month. The initial gross salary is approximately Rs. 1,30,000 per month, although this can vary depending on factors such as experience, grade, education, and location.
IRDAI Assistant Manager Annual Package
The annual package for an IRDAI Assistant Manager varies based on several factors. The salary ranges from Rs. 44,500 to Rs. 89,150 per month, which includes basic pay, dearness allowance, house rent allowance, and other benefits such as medical insurance and travel allowances. The annual package stands approximately between Rs. 4,02,000 to Rs. 10,69,800.
Also Read — IRDAI Assistant Manager Recruitment 2024 Notification Out
IRDAI Assistant Manager Salary Slip 2024
The salary slip provides a detailed breakdown of the monthly salary structure. It includes the basic salary along with various allowances such as Dearness Allowance, House Rent Allowance, and other relevant perks. The salary slip also details deductions such as taxes and PF contributions. Candidates can use the salary slip for loan applications and other personal purposes.
IRDAI Assistant Manager Allowances & Benefits
In addition to the basic pay, IRDAI Assistant Managers receive several allowances and benefits, which improve their standard of living. These include:
- Dearness Allowance
- House Rent Allowance
- New Pension Scheme
- Grade Allowance
- City Compensatory Allowance
- Qualification Allowance
Other benefits include Leave Travel Concession (LTC), medical benefits, insurance, performance-based incentives, housing loans, car loans, furniture allowance, and reimbursement of telephone and internet expenses.
IRDAI Assistant Manager Career Growth
IRDAI offers excellent career prospects with opportunities for promotion based on performance. The career progression is as follows:
- Assistant Manager
- Deputy Manager
- Manager
- Senior Manager
- General Manager
IRDAI Assistant Manager Job Role
Selected candidates as IRDAI Assistant Managers will be responsible for the smooth functioning and regulation of insurance companies. Typical tasks include:
- Regulating and assisting in the smooth functioning of insurance companies.
- Researching and analyzing insurance-related issues and ensuring compliance with regulatory requirements.
- Coordinating communication with policyholders and insurance companies.
- Providing training and guidance to junior staff and participating in committees and working groups.
- Identifying market requirements, risks, and developing incentive guidelines.
- Assisting senior members and higher authorities in various tasks.
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