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The Oriental Insurance Company Limited., a leading Public Sector General Insurance Company & wholly owned by Government of India, invites applications for recruitment of 300 ( Three Hundred ) Officers in Scale I cadre from open market
Sl. No. | Discipline | Minimum Qualification |
1 | Accounts | M.Com. with 55% for SC/ST and 60% for Others from a recognized University or Chartered Accountants (ICAI) or Cost and Management Accountant (The Institute of Cost Accountants of India) earlier known as Cost and Wok Accountants (ICWAI) or MBA (Finance) with 55% for SC/ST and 60% for Others from a recognized University |
2 | Legal | Graduate in Law with 55% for SC/ST and 60% for Others from a recognized University |
3 | Generalist | Graduate in any stream with 55% for SC/ST and 60% for Others from a recognized University |
4 | Actuaries | Graduate with 55% for SC/ST and 60% for Others in any discipline from a recognized university & has passed 4 Actuarial Papers from Institute of Actuaries of India (IAI) or Institute and Faculty of Actuary, UK (IFoA) |
5 | Engineers (Automobile) |
Graduate/Post Graduate Degree in engineering(4 or 5 Years) with automobile engineering as a subject, with 55% for SC/ST and 60% for Others from a recognized University |
6 | Medical Officer |
M.B.B.S. |
Note
a) Qualifications mentioned above should be from any of the recognized Indian Universities duly approved by the UGC or any of the recognized Indian Institutes duly approved by AICTE.
b) Preference will be given to candidates having post qualification experience in their area of specialization. Company’s decision in this regard shall be final.
c) The candidate must possess valid Mark-sheet / Degree Certificate of the necessary qualification as on 31.07.2017.
Emoluments and 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 Companys / leased accommodation as per norms.
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.
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.
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 years 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.
Application Fees /Intimation Charges(Non-refundable) :
Payable on-line from 18.08.2017 to 15.09.2017 (both dates inclusive)
SC/ ST / PWD / Confirmed employees of Oriental Insurance Co. - Rs. 100/- (Intimation Charges Only)
All candidates other than SC/ ST / PWD / Confirmed employees of Oriental Insurance Co. - Rs. 600/- (Application fee including intimation charges)
The transaction charge, if applicable, is to be borne by the candidate. Fee/ Intimation charges once paid will NOT be refunded on any account nor can it be held reserve for any other examination or selection.
HOW TO APPLY :
Candidates can apply online only from 18.08.2017 to 15.09.2017 and no other mode of application will be accepted.
Candidates to go to the Companys website http:// www.orientalinsurance.org.in and click on the option "APPLY ONLINE" which will open a new screen.
For more details visit
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