[ad_1]
MUMBAI: Shares of LIC had been down by over 2% on Monday after the company introduced a 17% wage revision, The wage improve was introduced by the federal government on Friday earlier than the election code of conduct kicked in a day later.
The company’s shares at the moment are down 23% from the 52-week excessive of Rs 1,175 on Feb 9.
On Friday, the nation’s largest insurance coverage firm stated that govt permitted a wage revision for LIC staff, efficient August 1, 2022. The company defined the hike, stating {that a} revision happens as soon as each 5 years. The assertion stated that because of the hike, there will probably be a 17% upward revision within the total wage invoice. The rise aligns with the wage negotiation deal signed between the Indian Banks’ Affiliation and financial institution staff.
LIC’s wage revision incorporates an enhancement in NPS contribution from 10% to 14% for almost 24,000 staff who joined after April 1, 2010. TNN
The company’s shares at the moment are down 23% from the 52-week excessive of Rs 1,175 on Feb 9.
On Friday, the nation’s largest insurance coverage firm stated that govt permitted a wage revision for LIC staff, efficient August 1, 2022. The company defined the hike, stating {that a} revision happens as soon as each 5 years. The assertion stated that because of the hike, there will probably be a 17% upward revision within the total wage invoice. The rise aligns with the wage negotiation deal signed between the Indian Banks’ Affiliation and financial institution staff.
LIC’s wage revision incorporates an enhancement in NPS contribution from 10% to 14% for almost 24,000 staff who joined after April 1, 2010. TNN
We additionally printed the next articles just lately
Noida revises price for 3 parking clusters
Noida Authority permitted three contractors for floor parking in metropolis clusters with revised charges. New tender initiated after scrapping earlier contract. Residents get aid with revised parking charges. Multilevel amenities accommodate 12,000 automobiles.
Noida Authority permitted three contractors for floor parking in metropolis clusters with revised charges. New tender initiated after scrapping earlier contract. Residents get aid with revised parking charges. Multilevel amenities accommodate 12,000 automobiles.
Tamil Nadu govt staff DA hiked by 4%
Tamil Nadu CM MK Stalin will increase dearness allowance to 50% from Jan 1, 2024, benefiting 16 lakh with an annual price of Rs 2,588 crore. Acknowledging workers contributions, he guarantees phased achievement of calls for amid monetary challenges.
Tamil Nadu CM MK Stalin will increase dearness allowance to 50% from Jan 1, 2024, benefiting 16 lakh with an annual price of Rs 2,588 crore. Acknowledging workers contributions, he guarantees phased achievement of calls for amid monetary challenges.
[ad_2]
2024-03-18 22:57:55
[
+ There are no comments
Add yours