THE ORIENTAL INSURANCE COMPANY LTD. recruitment 2017

THE ORIENTAL INSURANCE COMPANY LTD. (Wholly Owned By Govt. of India)

HEAD OFFICE: A-25/27, ASAF ALI ROAD, NEW DELHI – 110002

CIN: U66010DL1947GOI007158        Website: www.orientalinsurance.org.in

RECRUITMENT OF 300 ADMINISTRATIVE OFFICERS (SCALE-I) IN THE ORIENTAL INSURANCE COMPANY LIMITED

Please note the Important Dates (Tentative):

Publication of Advertisement in Employment News In the month of August 2017
On line Registration commences from / Payment of fees 18.08.2017
Last Date for Online Registration / payment of fees 15.09.2017
Dates of online Examination Phase – I : 22.10.2017 (Tentative) Phase – II : 18.11.2017 (Tentative)

 

Nationality A candidate applying for recruitment in the Company must be either- (a) a citizen of India, or (b) a subject of Nepal, or (c) a subject of Bhutan, or (d) a Tibetan refugee who came over to India before 1st January, 1962 with the intention of permanently settling in India, or (e) a person of Indian origin who has migrated from Pakistan, Burma, Sri Lanka, East African countries of Kenya, Uganda, the United Republic of Tanzania, Zambia, Malawi, Zaire, Ethiopia and Vietnam with the intention of permanently settling in India. Provided that a candidate belonging to categories (b), (c), (d) and (e) shall be a person in whose favour a certificate of eligibility has been issued by the Government of India.

  1. Service Conditions The service conditions will be applicable as per the prevalent rules of the company from time to time. Selected candidates on appointment may be posted or transferred to any place in India as may be decided by the Company. Please note that most of the aforesaid vacancies are in Hubli region of Karnataka, the state of Gujarat, Tamilnadu, Kerala, Mumbai and its suburbs. The minimum stay at the initial place of posting will be 5 years.
  2. Probation A candidate appointed in the Officers’ cadre on regular pay rolls of the Company shall be on probation for a period of one year from the date of joining the duty. The probation period may be extended twice by a further period of six months at a time, stretching up to one year. During the probation period the Officers would be required to pass the non-life “Licentiate Examination” conducted by Insurance Institute of India. Only after passing the said examination the Officer will be eligible for confirmation of his/her services in the Company. Failure to pass the said Examination within the extended probation period will render the officer liable to be terminated from service on expiry of the period so specified. The Company reserves the right to terminate the services of the candidate if found unsuitable at any time during the probation period or the extended probation period without any notice or assigning any reason thereof.
  3. Guarantee Bond Before joining as probationer, the selected candidates will be required to give an undertaking to serve the Company for a minimum period of four years including the probation period. In the event of their resigning from the Company before the expiry of the bond period, they will be liable to pay liquidated damages equivalent to one year’s gross salary paid to them during the year of probation which could be proportionately reduced depending on the length of service rendered. Besides, he/she will have to submit a stamped Bond duly executed by two sureties (not blood relatives), of sound financial standing for an amount equivalent to one year’s gross salary. 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.40,000/-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. Page 2 of 28 ` REF NO: OICL/Rect/DRE-2016-17/AO-I
  4. Emoluments & Benefits Basic pay of Rs.32795/- in the scale of Rs.32795-1610(14)-55335-1745(4)-62315 and other admissible allowance as applicable. Total emoluments will be approximately Rs.51000/- p.m. in Metropolitan Centers. Other benefits such as Pension under New Pension system governed by PFRDA, Gratuity, LTS, Medical Benefits, Group Personal Accident Insurance etc. shall be as per rules. The Officers are also entitled for Company’s / leased accommodation as per norms.

 

  1. Educational Qualification (as on 31.07.2017) Candidates must possess the minimum qualification as listed in the table below from a recognized University or any equivalent qualification recognized as such by Central Government. Candidates should possess certificate in proof of passing the qualifying examination as on 31.07.2017 Note:
  2. Educational qualification should be from a University/Institution/Board recognized by Govt. of India/approved by Govt. Regulatory Bodies and the result should have been declared on or before 31.07.2017 2. Proper document from Board / University for having declared the result on or before 31.07.2017 has to be submitted at the time of interview. 3. The candidate must possess valid mark-sheet / Degree Certificate of the necessary qualification as on 31.07.2017. 4. Percentage marks shall be as mentioned in the final mark-sheet/degree of the university. The fraction of percentage so mentioned will be ignored i.e. 59.99% will be treated as less than 60%. 5. Where CGPA/OGPA are awarded, the candidate will have to produce a certificate issued by the appropriate authority inter alia stating the norms of the University regarding conversion of grade into percentage and the percentage of marks scored by the candidate in terms of norms.
  3. Age as on 31.07.2017 Minimum Age: 21 years Maximum Age: 30 years, as on 31.07.2017 i.e. a candidate must have been born not earlier than 1st August 1987 and not later than 31st July 1996 (both dates inclusive). Relaxation in upper age limit shall be as follows

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