Recruitment of Assistant Officers in Finance Function

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:

Subject Details

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)

and
Educational
Qualification At least three years of relevant experience in finance function as on 31st March
and Experience 2020. Experience gained after passing of CA Intermediate /CMA Intermediate
Eligibility 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.

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 Subject Details

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.

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.
Nature of Job 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
Remuneration 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 Limit
Age relaxation for OBC (Non-Creamy Layer)/SC/ST/PwBD candidates will be
applicable as per the Presidential Directives.

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 The selection methodology will comprise of the following:
On the basis of percentage of marks of CA Intermediate /CMA Intermediate (or
equivalent qualification from CA/CMA institute), the candidates will be short
listed for further selection process comprising of Personal Interview (PI) and
Group Discussion/Group Task (GD/GT) for assessment of different facets of
Selection knowledge, skill, attitude and aptitude.
However, it may be noted that shortlisting for PI and GD/GT shall be solely
based on the percentage marks scored in the chosen qualification – CA
(Intermediate) or CMA (Intermediate)
Final merit will be prepared based solely on performance in Personal Interview
(PI) and Group Discussion/Group Task (GD/GT) taken together.

Selected candidates will have to execute a bond to serve the Corporation for a
minimum period of three years from the date of joining the corporation. The
bond amount is as under:
Service Bond
General Category – Rs. Two Lac only
EWS/OBC(NCL)/SC/ST/ PwBD – Rs. Thirty Five Thousand only

Candidates need to be medically fit as per Indian Oil’s pre-employment medical

standards.
Physical
Fitness Candidates are advised to go through the separately placed ‘Guidelines and
Criteria for Physical Fitness for Pre-employment Medical Examination’
before they commence filling the ONLINE application.

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:

Category Relaxation in Upper Age Limit

OBC (Non Creamy Layer) 3 years

SC/ST 5 years
PwBD 10 years
Candidates domiciled in Jammu & Kashmir between
5 years
1.1.1980 & 31.12.1989
Ex-servicemen & Commissioned Officers (including
ECOs/SSCOs) subject to rendering minimum 5 years’
5 years
military service and fulfillment of other conditions
prescribed by Government of India.

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c. For getting the benefits of reservation under OBC category:
i) The name of caste and community of the candidate must appear in the ‘Central list of
Other Backward Classes’
ii) The candidates must not belong to creamy layer.
iii) The candidates need to furnish their OBC certificate as per the format prescribed by
Government of India and it must not be more than 6 months old.
d. For getting the benefits of reservation under EWS category:

i) The candidate should not be covered under the scheme of reservation for SCs, STs and
OBCs and whose family has gross annual income below Rs 8.00 lakhs (Rupees Eight
lakhs only). Income shall also include income from all sources i.e. salary, agriculture,
business, profession, etc. for the financial year prior to the year of application.

ii) Also, persons whose family owns or possesses any of the following assets shall be
excluded from being identified as EWS, irrespective of the family income: -

5 acres of agricultural land and above;

Residential flat of 1000 sq ft. and above;
Residential plot of 100 sq. yards and above in notified municipalities;
Residential plot of 200 sq. yards and above in areas other than the notified municipalities.

iii) The property held by a “Family” in different locations or different places/cities would be
clubbed while applying the land or property holding test to determine EWS status.

iv) The term “Family” for this purpose will include the person who seeks benefit of
reservation, his/her parents and siblings below the age of 18 years as also his/her spouse
and children below the age of 18 years.

v) The benefit of reservation under EWS can be availed upon production of an Income and
Asset Certificate issued by a Competent Authority. The Income and Asset Certificate
issued by any one of the following authorities in the prescribed format shall only be
accepted as proof of candidate’s claim as belonging to EWS :

District Magistrate/ Additional District Magistrate/ Collector/ Deputy Commissioner/

Additional Deputy Commissioner/1st Class Stipendary Magistrate/ Sub-Divisional
Magistrate/ Taluka Magistrate/ Executive Magistrate/ Extra Assistant Commissioner
Chief Presidency Magistrate/ Additional Chief Presidency Magistrate / Presidency
Magistrate
Revenue Officer not below the rank of Tehsildar and
Sub-Divisional Officer of the area where the candidate and/or his family normally
resides.

vi) The crucial date for submitting income and asset certificate by the candidate may be
treated as the closing date for receipt of application for the post, except in cases where
crucial date is fixed otherwise.

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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.

Candidates need not pay any application fee to Indian Oil.

General Instructions

a) Only Indian Nationals are eligible to apply.

b) Candidates are advised to fill-in their Personal Details [name, father’s name, date of birth,
category (Gen/EWS/OBC(NCL)/SC/ST/PwBD) etc.] and other details in the Online
application form very carefully, as no request for change in this regard will be entertained.

c) The candidates must have an active e-mail id and a mobile number, which must remain
valid for at least next one year. All future communications with the candidates will take
place through e-mail/mobile. Candidates have to ensure accuracy of their e-mail ID and
mobile number while registering their on-line application of IOCL

d) The candidates should have the relevant documents like qualification certificate,
marks/scores obtained in the qualifying examination, caste/sub-caste certificate, date of
issue, name of issuing authority, state of origin, etc. readily available with them before they
commence the ONLINE application process. This information will be required at the time
of filling-in the ONLINE application.

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e) Cutoff date for calculating the upper age limit shall be 30th June 2020.

f) Cutoff date for considering eligibility of the candidates in terms of experience shall be 31st
March 2020.

g) Experience certificate shall include the following details:

i) Organization name
ii) Designation/Position Held
iii) Nature of Work
iv) Period of service

h) Candidates belonging to OBC category, but falling in creamy layer, will not be entitled to
the benefit of reservation and should apply as General Category candidate.

i) Candidates presently employed in Government Departments / PSUs / Autonomous Bodies

will need to submit NOC from competent authority of their current employer at the time of
GD/GT Personal Interview and GD/GT.

j) Candidature of the candidates not found meeting the prescribed eligibility criteria shall be
rejected at any stage of selection process.

k) Candidature of the candidate submitting false/ incorrect information shall be rejected at

any stage of selection process.

In case of query, the candidates can write to Indian Oil at

[email protected]

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