Table of Contents
India’s Export Credit Guarantee Corporation (ECGC) has issued an official notice to hire 75 probationary officers on March 21, 2022. Because of the excellent income package and bonuses, the job description of a Probationary Officer attracts many banking applicants. In this essay, we will explore what ECGC offers to its probationary officers in order to provide candidates with a better understanding before they apply.
|Exam organised by||Export Credit Guarantee Corporation of India (ECGC)|
|Name of the post||Probationary Officer|
|Starting of online application submission||21.03.2022|
|ECGC last date for applying||20.04.2022|
|Last date for paying the application fee||20.04.2022|
|Pre-Examination Training call letters are available for download from||25.04.2022|
|Pre- Examination Training for SC/ST||2022, the first and second weeks of May|
|Call letters for the online written test can be downloaded from||the first week of May in the year 2022|
|Online Written Examination||29th May 2022|
|The result of the Online Written Examination will be announced on||Between 15th – 19th June 2022|
|Interview date||July /August 2022|
|Educational qualification||A Bachelor’s degree in any discipline from an institution acknowledged by the Government of India or any equivalent qualification recognised by the Central Government. When registering online, the candidate must have a valid Mark-sheet / Degree Certificate showing graduation and stating the percentage of marks achieved.|
ECGC PO Job Profile
- The export transactions must be handled by an ECGC PO.
- A PO must also submit reports on company transactions.
- ECGC POs are exclusively posted in cities because there are no rural ECGC branches.
ECGC PO Roles and Responsibilities
The applicants will be able to determine whether they are a good match for the position if they have a thorough understanding of the ECGC PO job description. They must work at least five days every week. They have the option of being relocated to new locations as well as any of the branches. Probationary Officers are required to work in one region for three years before being transferred to another, according to ECGC Ltd standards. Navigate through the elements in the ECGC PO job profile to learn about the impending duties and responsibilities.
- Their job description will cover the responsibilities of an Export Insurance Provider.
- They must collaborate with lenders and exporters, as well as communicate with them about the various transactions.
- Complete the daily responsibilities delegated by the upper management.
- They will be in charge of all export-related transactions.
ECGC PO Career Growth and Promotion
The position of ECGC PO is well-known and respected. The Export Credit Guarantee Corporation provides excellent career advancement opportunities as well as a competitive remuneration package to probationary officers. Candidates can view the ECGC PO’s career progression chart below.
- Executive Officer/Probationary Officer – Scale I
- Assistant Manager – Scale-II
- Manager – Scale III
- Senior Manager – Scale-IV
- Assistant General Manager – Scale V
ECGC PO Retirement Details
The company provides a Defined Pension Scheme – The corporation makes an equal contribution of 10% Basic Pay + DA
ECGC PO Salary
The ECGC PO wage scale is provided below.
|Pay Scale||INR 53600-2645(14)-90630-2865(4)-102090|
|Basic Pay||INR 53600 (An increment of 2645 will be provided for 14 years)|
|Basic Pay after 14 years of service||INR 90,630|
|Maximum Basic Pay||INR 1,02,090|
|Total CTC (Cost to company) in Mumbai||16 Lakhs per annum|
ECGC PO Inhand Salary
It should be noted that the in-hand compensation is based on a person placed in a tier 1 city, therefore it will vary if a person is posted in cities y and z. Salary components will also differ based on where you are posted, which will have an influence on your take-home pay.
|Topic||Amount in INR|
|City Compensation (Depends upon the place of posting)||983|
|Special Functional Allowance||775|
|In hand Salary||1,22,534- 9139= 1,13,395 Approximately|
ECGC PO Post Wise Salary
The 7th Central Pay Commission determines the ECGC PO pay, as well as various additional perks, as per the guidelines. The INR 32795-1610(14)-55335-1745(4)-62315 pay scale is part of the ECGC PO wage structure for 2022. This means that for the first 14 years of service, the applicants will be given a basic pay of INR 32,795 plus yearly increments of INR 1,610. The base wage is increased to INR 55,335 after 14 years. Candidates will get yearly increments of INR 1,745 in addition to the basic salary for the following four years of service, bringing the total basic pay to INR 62,315.
ECGC PO Allowances
Numerous perks and benefits make up for the ECGC PO in-hand wage; they pile up over time. Along with a highly renowned work profile and a rich wage structure, the bonuses and allowances add to the profession’s allure. The list of benefits and allowances is included below.
|Allowance||Amount in INR|
|Dearness Allowance (DA)||46.9%-75% of the Basic Pay (Changes as per the location of work)|
|House Rent Allowance (HRA)||7% to 10% of the Basic Pay|
|City Compensatory Allowances (CCA)||3% to 4% Depending on the Location|
|Transport Allowance||INR 1330|
|Pension Scheme||10% of basic pay + Dearness Allowance|
|Insurance Cover||50 Lakhs GIS+ 8 Lakhs GSLI+ 10 Lakhs GTS|
|PLI Bonus||Yearly Basic pay+ Dearness Allowance up to 6%|
|Leave Travel Concession||4500 Km to and fro with family [ 4500 km each]|
|The benefit of Cash Medical||₹13300 PA|
|Furniture Allowance||₹ 87500+GST [ Can be claimed once in 5 years]|
They are eligible for several reimbursements in addition to the allowances, perks, and ECGC salaries indicated above. The list of reimbursements, together with the amounts, is shown below. Navigate through the points to learn more about them.
|Reimbursements||Amount in INR|
|Household Help Expense Reimbursement||1000 per month|
|Reimbursement for entertainment||800 per month|
|Earned Leaves (EL)||Paid Leaves of 30 days every two years redeemed on Basic, DA, CCA|
|Mobile bill Reimbursement||400 per month|
|Reimbursement for Newspapers||200 per month|
|Meal coupons on every working day received by PO||INR 205 per working day|
|Mobile Handset Reimbursement||10,000 once in three years.|
|Office Carry bag||3000 once every three years.|
|Expenses for Household Help Reimbursement||1000 per month.|
Aside from this, the firm will pay around INR 30,000 in income tax on benefits every year on your behalf.
Having better knowledge about the work profile and salary structure will help the candidate visualise how to plan for their future if they get selected during the recruitment. Download the entri app to know more details about ECGC PO Exam and other bank and insurance exams.