Government of India
Ministry of Corporate Affairs
New Delhi-110 001
J S AUDHKHASI
Tel No: 23381615
11th July, 2018
Ministry of Corporate Affairs (MCA) intends to engage Young Professionals (Chartered Accountants, Cost Accountants and Company Secretaries) to assist in processing and disposal of pending inspections, investigations and inquiries and important drives undertaken for effective implementation of the Companies Act, 2013 in the field offices as well as headquarters.
2. As you are recall, Additional Secretary took a meeting with the Professional Institutes on 28th June, 2018 and apprised them with the Ministry’s proposal to engage Young Professionals from the respective institutes. It was also informed that initially, Ministry proposes to engage a total number of 80 Young Professionals (41 Chartered Accountants/Cost Accountants and 39 Company Secretaries) at different places as indicated at enclosed Annexure.
3. It was also informed that the Professional Institutes will be responsible for overall suitability and integrity of the Young Professionals before nominating the candidates on an objective and transparent criteria for interviews which will held in the respective offices of the Regional Directors as well as at Ministry’s headquarters at New Delhi. The candidates ICSI, ICAI, ICOAI may be nominated in the ratio of 3:1 i.e., 3 candidates against each vacancy.
4. Others terms and conditions governing the engagement of Young Professionals would be as indicated below:
(i) The Young Professionals with the minimum two years of experience post-passing their final examination; candidates with greater experience would be given preference.
(ii) Selected candidates shall not practice as Chartered Accountants/Cost Accountants or Company Secretaries during the period of their engagement as Young Professionals.
(iii) Young Professionals would be engaged for a period one year in the first instance, extendable up to a maximum of four years. Initial 03 months would be probation period.
(iv) Ministry would pay consolidated remuneration of Rs. 40,000/- per month + Rs. 1,000/- as conveyance charges.
(v) All the selected candidates will have to provide declaration of fidelity and secrecy certified as prescribed by the Ministry.
(vi) The selected Young Professionals would be imparted one-week orientation course before assigning the specified tasks.
(vi) No TA/DA will be given to the candidates for attending the interviews
(vii) The services of Young Professionals may be terminated by the Ministry/ regional Directorate by giving 30 days notice in the case of following eventualities:-
(a) Young Professional is unable to address the assigned works
(b) Quality of the work performed is not to satisfaction of the Ministry/Regional Director
(c) The Young Professional fails in timely achievements of the approved work plan.
(d) The Young Professional is found lacking in honesty and integrity
(viii) The Young Professionals may also terminate the engagement by serving a notice period of 30 days or one month remuneration in lieu thereof.
(J S AUDHKHASI)
Shri S.C. Gupta
Institute of Cost Accountants of India
3, Institutional Area