NICL AO Salary 2022 Pay Scale Probation Period Guarantee Bond

Here you can know about the salary structure, Pay Scale, Service Conditions, Probation Period, Guarantee Bond of NICL AO posts. Those who got selected as Administrative Officer in NICL can be posted and transferred anywhere in India. They have to remain at the initial place of posting for 5 years.
Pay scale - Rs. 32795-1610(14)-55335-1745(4)-62315.
Various allowances will be be admissible under the rules in force from time to time in the company.
Starting Basic pay: Rs. 32,795 /- as per 2017 notification.
Total emoluments will be approximately Rs.51,000/- p.m. in Metropolitan Centers. Along with salary, NICL AO will get several other benefits as per rules that includes the following:
Other benefits:

  • Pension under New Pension system governed by PFRDA
  • Gratuity
  • LTS 
  • Medical Benefits
  • Group Personal Accident Insurance etc.
  • Company’s / leased accommodation as per norms.

NICL AO Salary Pay Scale

Probation Period & Guarantee Bond Job Profile:
Candidates will be in Probation for 1 year. During the probation period they should pass the non-life “Licentiate Examination” conducted by Insurance Institute of India. Only after they pass, they will be eligible for confirmation of his/her services in the Company. Failure to pass within the extended probation period will render the officer liable to be terminated from service on expiry of the period so specified.
The probation period may be extended twice by a further period of six months at a time stretching up to one year.
The selected candidates have to give an undertaking to serve the Company for a min. 4 years. In case of resign before 4 years, , they will be liable to pay damages equivalent to one year’s gross salary of NICL AO.
Candidates resigning from the Company during the probation period and candidates whose services are terminated by the Company during the probation
period shall be liable to pay the salary received by them during their entire service in the Company in addition to an amount of Rs.25,000/-towards partial cost of training. No lien/bond executed to retain a substantive post with present employer will be binding upon the Company and no Leave Salary or
Pension Contribution will be made.