Helicopter Pilots Training Scheme for Pawan Hans employees
The Board of Directors, in its 109th meeting held on 26th June 2007 approved the introduction of Helicopter Pilots Training Scheme for Pawan Hans employees in order to encourage internal talent besides utilizing their services for flying operations. The broad features of the Scheme are as under :-
- Eligibility :Regular employees of the Company.
- Minimum Qualifications:H.Sc. (10+2) or equivalent with Mathematics and Physics. In addition, employees must meet other criteria including medical fitness etc as notified by DGCA from time to time.
- Age Limit:The upper age limit would be 45 years.
- Selection Procedure:The employees who fulfill laid down norms or other stipulations as prescribed by DGCA or Pawan Hans from time to time would be considered for pilot training scheme. Selection of maximum 10 (Ten) candidates would be through a duly constituted Selection Committee.
- Duration of Training:The duration of training in Indian Institutes like HAL, IGRUA etc would be for a maximum period of 24 months whereas in case of Institutions outside India, it would be 6-9 months. During the training period, employee would be entitled to avail leave available at his credit or would be granted leave without pay for the period of training.
- Financial Assistance :The Company would provide financial accommodation to the extent of 80% of the cost of training subject to maximum ceiling of Rs.15 lacs per employee. The selected employees would obtain a loan from any of the Nationalised / Scheduled Banks and the Company would stand as a Guarantor for above loan subject to execution of agreement for training & bond by the employee to serve the Company for a minimum period of 10 years and submission of sureties of 2 regular employees of the company. The company will not bear any interest or other financing cost of the loan.
- Interest :The rate of interest for loan under above scheme would be at par with interest being charged by the nationalized banks from time to time for educational loans, which at present is around 12.5% p.a.
- Repayment of Loan:The Bank loan together with interest accrued thereon would be recovered in 120 equal installments (10 years). The recovery of loan would commence after a lapse of two years from the date of drawal of loan or following month of their assuming duty as Pilot, whichever is earlier. The recovery of loan together with interest accrued thereon be made through post-dated cheques or deduction from their salary, as the case may be and its direct remittance to the Bank.
- Agreement for Training & Bond :The selected candidates will have to execute a bond for undergoing pilot training and also to serve the company for a minimum period of 10 years after completion of training or till recovery of entire loan together with interest, whichever is later.