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LIC employees to receive wage hike, 5-day working week Shreekant Mishra, General Secretary, All India Insurance Employees Association (AIIEA) said that the hike is expected to be 25 per cent per month. Not only that, LIC staff will also, now, work five days in a week BusinessToday.In | April 16, 2021 | Updated 13:06 IST The government has reportedly finalised a wage hike for all LIC employees. Not only that, LIC staff will also, now, work five days in a week. This decision comes after a bilateral agreement between bank unions and Indian Banks Association. Reports suggest that the hike could be up to 15-16 per cent, while some suggested 20 per cent hike. As many as 1.14 lakh employees of the insurance giant will benefit from the raise. Meanwhile, Shreekant Mishra, General Secretary, All India Insurance Employees Association (AIIEA) told news agency IANS that the hike is expected to be 25 per cent per month. He added that a loading of 15 per cent has been given after 100 per cen

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