The Speaker of Lok Sabha is also a member of Parliament. As per the article 93 of Indian Constitution, there will be a Speaker and deputy speaker of Lok Sabha to preside the meetings of the house. Speaker of Lok Sabha is elected by the member of parliament among themselves with a simple majority. Speaker is responsible for the proper conduct of all the proceedings in the house. The eligibility of Speaker of India is the same as the member of parliament holds. the salaries and other allowances of him are given from Consolidated Fund of India. It can only be reduced or increased by Parliament of India. 

He can be removed by Parliament by passing a resolution by majority given under Article 94 of Indian constitution. He can also resign by writing a letter to deputy speaker.

 He gets a monthly salary of Rs 50000 + constituency allowance 45000+ Parliamentary office allowance 45000 +Parliamentary allowance (Rs 2000 per day).

The first Speaker of Lok Sabha was G V Mavlankar and incumbent Speaker is Sumitra Mahajan. She is the second women to hold the office