Recruitment of Assistant Officers in Finance Function (Indian Oil)
Apply Start Date: 7th April, 2020.
Last date for filling the ONLINE application : 6th May, 2020.
As India’s flagship Oil & Gas major, Indian Oil Corporation Limited has been fulfilling the energy needs of the nation for over six decades. With revenue from operations of Rs. 6,05,924 crore and profit after tax of Rs. 16,894 crore for the year 2018-19, Indian Oil is India’s top ranked State-owned commercial enterprise in the Fortune Global 500 listing. Indian Oil operates Asia's one of largest Refineries, Pipelines and Marketing infrastructure and owns some of the most trusted super brands like INDANE and SERVO. The R&D Centre of Indian Oil is India’s foremost commercial Centre of research excellence in the areas of lubricants, oil refining, fuel additives, engine testing, materials sciences and environmental sciences. Empowered with the 'Maharatna' status, the Vision of Indian Oil is to be 'The Energy of India' and ‘A Globally Admired Company’. We are looking for energetic and dedicated Graduates (any discipline) with minimum 55% marks (relaxed to 50 % for candidates belonging to SC/ST and PwBD categories) and having passed the CA Intermediate / CMA Intermediate (or equivalent qualification) from Institute of Chartered Accountants of India (CA Institute) / Institute of Cost Accountants of India (CMA Institute) with at least three years of relevant experience in finance function. Experience gained after passing of CA Intermediate /CMA Intermediate results shall only be considered.
The details of eligibility criteria regarding prescribed educational qualification, experience, age and other eligibility criteria and application procedure are mentioned below:
Educational Qualification and Experience Eligibility:
Graduate in any discipline with minimum 55% marks (relaxed to 50% for candidates belonging to SC/ST and PwBD categories) and have passed the CA Intermediate/ CMA Intermediate (or equivalent qualification from CA/CMA institute)
At least three years of relevant experience in finance function as on 31st March 2020. Experience gained after passing of CA Intermediate /CMA Intermediate results shall only be considered. Relevant field includes experience in the field(s) of Finance/ Accounts/ Taxation/ Cost Accounting/ Auditing etc. The articled training /practical training which are integrated to the curriculum of respective institution shall not be considered as valid experience for this purpose.
Note: a) Candidates having passed final examination from CA/CMA Institutes are NOT eligible. b) Above mentioned experiences are indicative and not exhaustive. The Corporation reserves the right to take a final decision for considering/ not considering an experience as valid experience for the post.
Nature of Job:
Candidates selected as Assistant Officers in finance function may be posted in any of the divisions of Indian Oil – Refineries, Marketing, Pipelines, Business Development and R&D Centre or in Corporate functions or in Subsidiary/Joint Venture companies. Finance profile generally includes - Preparation of accounts, Internal Audit, Accounting, Pricing, Banking & Treasury Functions, Project Appraisal/ Project accounting, Direct and Indirect Taxation, Crude oil procurement/payments, trade receivables, trade payables, assets accounting etc.
Candidates selected as Assistant Officers (A0 grade) will receive a starting basic pay of Rs. 40,000/-per month. In addition, the selected candidates will receive Dearness Allowance (DA) and other allowances, according to the rules of the Corporation in force, and as amended from time to time.
Other allowances /benefits include HRA/subsidized housing accommodation (depending upon place of posting), medical facilities, gratuity, contributory provident fund, employees’ pension scheme, group personal accident insurance scheme, leave encashment, leave travel concession (LTC)/ LFA, contributory superannuation benefit fund scheme, conveyance advance/ maintenance reimbursement, performance related pay (PRP) etc as per rules of the corporation.
The gross valuation of remuneration to the company will be about Rs 12.10 lakhs per annum inclusive of performance related pay (PRP). The actual remuneration may vary depending on place of posting, financial performance of the Corporation and also performance rating of individual.
Maximum 30 years as on 30th June 2020 for General and Economically Weaker Sections (EWS) category candidates.
Age relaxation for OBC (Non-Creamy Layer)/SC/ST/PwBD candidates will be applicable as per the Presidential Directives.
Concessions/ Relaxations a. Reservation of posts for EWS/OBC(NCL)/SC/ST/ PwBD (degree of disability 40% or above) will be made as per Government of India directives. b. Relaxation in Upper Age Limit will be extended as per Presidential Directives as under:
How to apply
a) Interested candidates meeting the prescribed eligibility criteria shall have to apply ONLINE at www.iocl.com (Indian Oil for You > IndianOil for Careers > Latest Job Openings) The relevant link will be made available on IOCL web site www.iocl.com from 7th April, 2020.
b) Candidates should click on the ONLINE application link, read the instructions carefully and fill-in the ONLINE application form giving correct and accurate information.
c) In case, candidate’s Final marks are in CGPA, then the CGPA needs to be converted into Percentage as per formula set by institute. For such cases, Candidate shall manually enter the Percentage of Marks up to two places of decimal in the relevant field in the application form. The candidate will be required to carry the conversion formula certificate on the day of Personal Interview, if shortlisted.
d) After filling up the ONLINE application form in all respect, the candidate should submit the online application by clicking the submit button. If the online application is submitted successfully, the system will generate a unique application ID along with the completed application form.
e) Candidate should take a print out of ONLINE application and keep it with him/ her safely for future reference. Candidates need not send this printout to any office of IndianOil.
f) Last date for filling the ONLINE application shall be 6th May, 2020.