Last updated on April 13th, 2023 at 02:34 pm
The Insurance Regulatory and Development Authority of India has issued a job advertisement for an Assistant Manager. A total of 45 positions are available for hire. Candidates who wish to apply for the position should be aware of the details such as IRDAI Assistant Manager salary, IRDAI Assistant Manager Job profile, etc. This article contains complete information about the IRDAI Assistant Manager salary. Candidates can now apply between April 11th and May 10th, 2023.
IRDAI Assistant Manager salary: Overview
| IRDAI Assistant Manager salary Overview | |
| Recruiting Body | IRDAI |
| Full-Form | Insurance Regulatory and Development Authority of India |
| Post | Assistant Manager |
| Vacancies | 45 |
| Application Start Date | 11th April 2023 |
| Last Date to Apply | 10th May 2023 |
| Article | IRDAI Assistant Manager salary |
| Basic pay | Rs. 28,150 |
IRDAI Assistant Manager salary: Annual package
The salary of an Assistant Manager at IRDAI (Insurance Regulatory and Development Authority of India) ranges from Rs. 28,150 to Rs. 81,600 per month, which translates to an annual package of approximately Rs. 3.38 lakhs to Rs. 9.62 lakhs. However, this is just a rough estimate and the actual salary may vary based on several factors such as experience, qualifications, and performance. In addition to the basic pay, IRDAI Assistant Managers are also eligible for various allowances and benefits.
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IRDAI Assistant Manager salary: Salary slip
The salary slip of an Assistant Manager at IRDAI would generally include the details of their monthly salary, including the basic pay, allowances, and deductions. Deductions may include contributions to the Employee Provident Fund (EPF) and other statutory deductions as per government norms. The actual salary slip may vary based on individual factors such as experience, qualifications, and performance.
IRDAI Assistant Manager salary: Benefits and Allowances
As an Assistant Manager at IRDAI, apart from the basic pay, you would be eligible for several benefits and allowances. Here are some of the benefits and allowances that an IRDAI Assistant Manager can expect to receive:
- Dearness Allowance (DA): This is an allowance paid to compensate for the rise in the cost of living. It is calculated as a percentage of the basic pay and is revised twice a year.
- House Rent Allowance (HRA): This allowance is given to employees who do not have their own accommodation or live in a rented house. The HRA amount is based on the city in which the employee is posted and is usually a percentage of the basic pay.
- Leave Travel Allowance (LTA): This allowance is provided to employees to cover the expenses incurred during travel for vacation or to visit their hometown. It can be availed of twice in a block of four years.
- Medical Benefits: IRDAI Assistant Managers are eligible for medical reimbursement for themselves and their family members.
- Retirement Benefits: IRDAI Assistant Managers are eligible for various retirement benefits such as the Employee Provident Fund (EPF), Gratuity, and Pension.
- Other allowances: Apart from the above, an IRDAI Assistant Manager is also eligible for several other allowances such as conveyance allowance, mobile phone allowance, and internet allowance, among others.
IRDAI Assistant Manager salary: Probation period
An Assistant Manager in IRDAI must also serve a one-year probation period, which can be extended to a maximum of two years in the event of poor performance.
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IRDAI Assistant Manager salary: Job profile
A candidate who is chosen and appointed as an Assistant Manager in IRDAI can expect a diverse job profile. An IRDAI AM job profile includes a variety of tasks and responsibilities related to the insurance industry. Consider some of the typical responsibilities of an Assistant Manager.
- Examination of existing insurance policies
- New schemes are being developed.
- Assisting senior members, such as the Manager and higher authorities, and following instructions.
- Taking care of customer inquiries or handling complaints about issued insurance policies.
IRDAI Assistant Manager salary: FAQs
The selection process for the IRDAI Assistant Manager position involves a written exam followed by an interview. The written exam consists of objective and descriptive type questions on various topics such as reasoning, quantitative aptitude, English language, and insurance sector-related topics.
The eligibility criteria for the IRDAI Assistant Manager position include a Bachelor’s degree with a minimum of 60% marks or equivalent, or a Master’s degree with a minimum of 55% marks or equivalent. Additionally, the candidate should have a minimum age of 21 years and a maximum age of 30 years.
Yes, there is a probation period of one year for the IRDAI Assistant Manager position.
The job profile of an IRDAI Assistant Manager includes regulating and promoting the insurance sector in India, developing new policies and regulations, monitoring and enforcing compliance with regulations, and handling customer complaints and grievances, among other responsibilities.
The in-hand salary of an IRDAI Assistant Manager depends on several factors such as experience, qualifications, and performance. However, the basic pay for an Assistant Manager at IRDAI ranges from Rs. 28,150 to Rs. 81,600 per month, and they are also eligible for various allowances and benefits.