LIC employees' wage hike proposal yet to get government approval

A revision in wages for more than 100,000 employees of Life Insurance Corporation (LIC) is yet to get a go-ahead from the Department of Financial Services (DFS).

However, sources said the approval from DFS may come any time and as soon as LIC gets the go-ahead, a wage revision package will be announced.

“It is under process and with the ministry. Whenever it happens, we will share with the employees,” said a source in LIC.

In the case of LIC, all rules and regulations regarding employees are decided by the government, the source added.

The employees had sought a basic raise of 35 per