MEGFINANCE Recruitment Dossier

Approved Faculty

Official gazetted recruitment notification for Approved Faculty administered by MEGFINANCE Authority (Madhya Pradesh).

Updated: October 8, 2026 Hiring Authority: MEGFINANCE Authority Sanctioned Vacancies: 1 Openings Remuneration: Rs. 123,100 - 144,200 (Level-13) Cutoff Date: 2026-09-30 Posting Jurisdiction: Madhya Pradesh

Verified Sovereign Authority

MEGFINANCE Authority

Official Domain: megfinance.gov.in | Jurisdiction: Madhya Pradesh

Authority Dossier Hub

All MEGFINANCE Openings MEGFINANCE Tenders All Central & State Jobs In-Hand Salary Calculator 8th CPC Pay Estimator

Cadre & Category-Wise Vacancy Distribution

Reservation Category	Sanctioned Vacancies	Reservation Covenants
Unreserved (UR / General)	1 Posts	Open Merit Competency
Other Backward Classes (OBC-NCL)	0 Posts	27% Central Statutory Quota (Non-Creamy Layer)
Scheduled Caste (SC)	0 Posts	15% Constitutional Reservation Quota
Scheduled Tribe (ST)	0 Posts	7.5% Constitutional Reservation Quota
Economically Weaker Section (EWS)	0 Posts	10% Income & Asset Certificate Criteria
Persons with Benchmark Disabilities (PwD)	0 Posts	Horizontal Reservation (4% Quota)
Ex-Servicemen (ESM)	0 Posts	DoPT Horizontal Defense Quota
Total Confirmed Cadre Openings	1 Vacancies	Official Sanctioned Strength

7th Central Pay Commission (CPC) Compensation Structure

Remuneration Component	Sanctioned Entitlement	Statutory Reference
Scale of Pay	Rs. 123,100 - 144,200 (Level-13)	Official Gazetted Pay Band
Starting Basic Pay	Rs. 25,500	Pay Matrix Entry Index
Dearness Allowance (DA)	50% of Basic Pay	CPI-IW Indexed Central Government Order
House Rent Allowance (HRA)	27% (X Class) / 18% (Y Class) / 9% (Z Class)	DoPT City Classification Guidelines
Transport Allowance (TA)	Rs. 1,350 to Rs. 7,200 + Applicable DA	Grade Pay Level entitlement
Retirement & Social Security	National Pension System (NPS 14% Govt Share)	PFRDA Pension Regulations
Statutory Medical Benefits	CGHS Medical Facility / Comprehensive Insurance	Central Services Medical Rules

Eligibility, Educational Qualifications & Age Benchmarks

Eligibility Parameter	Prescribed Requirement	Verification Standards
Prescribed Education	Graduate / Diploma in relevant discipline	UGC / AICTE Accredited University
Essential Discipline	Graduate / Technical Degree	Official Marksheets & Degree Validation
Prescribed Age Range	18 to 30 Years (As on cutoff)	Matriculation / Secondary Board Certificate
Statutory Age Relaxations	SC/ST: 5 Years, OBC: 3 Years, PwD: 10 Years	DoPT Category Certificate Format
Nationality / Domicile	Citizen of India	Aadhaar / Electoral ID / Domicile Certificate

Related Active Openings under MEGFINANCE

View All MEGFINANCE Posts

Designation & Cadre	Vacancies	Scale of Pay	Cutoff Date
Approval of Government Amendment of Part Iii Rule 24 6 on Recruit	1 Openings	Rs. 123,100 - 144,200 (Level-13)	2026-09-30
Approval to the Recruitment Calendar Labour Employment Department	1 Openings	Rs. 25,500 - 29,200 (Level-4)	2026-09-30
Assistant Teacher District Education Superintendent	1 Openings	Rs. 25,500 - 29,200 (Level-4)	2026-09-30
Assistant Teacher in Primary Schools	1 Openings	Rs. 25,500 - 29,200 (Level-4)	2023-03-31

Active Procurement Tenders by MEGFINANCE

View All Procurement Notices

Contract Scope & NIT Notice	Estimated Value	Statutory EMD	Submission Cutoff
Pr Bsptcl 2024 Tender	Rs. 25,00,000 (Indicative Benchmark)	Rs. 50,000 (2% Statutory EMD)	2026-10-30
Pr Bsptcl 2025 Tender	Rs. 25,00,000 (Indicative Benchmark)	Rs. 50,000 (2% Statutory EMD)	2026-10-30
Pr Bsptcl 2024 Tender	Rs. 25,00,000 (Indicative Benchmark)	Rs. 50,000 (2% Statutory EMD)	2026-10-30
03 Pr Bsptcl 2024 Tender	Rs. 25,00,000 (Indicative Benchmark)	Rs. 50,000 (2% Statutory EMD)	2026-10-30

Statutory Recruitment FAQ Accordion

What is the pay scale for Approved Faculty?

The sanctioned remuneration is Rs. 123,100 - 144,200 (Level-13) under the 7th Central Pay Commission framework, accompanied by standard Central/State allowances including Dearness Allowance (DA), House Rent Allowance (HRA), and National Pension System (NPS) benefits.

What is the official application deadline?

The confirmed deadline for online application registration and fee settlement is 2026-09-30. Candidates are urged to finalize submissions in advance of the deadline.

How to verify authentic notification circulars from MEGFINANCE Authority?

All official notifications and gazetted circulars are published directly on the verified sovereign domain megfinance.gov.in. Always cross-check notice references against primary government bulletins.

Explore verified public authorities and related career tracks across the national network:

Explore MEGFINANCE Authority Browse Central & State Jobs In-Hand Salary Calculator

Application Procedure & Document Submission Roadmap

Access the official MEGFINANCE recruitment portal, complete the One-Time Registration (OTR) by providing basic personal, academic, and contact details, and generate a unique registration ID.

Log in using the generated credentials to fill out the detailed online application form, specifying academic qualifications, teaching experience, and publication details in the designated fields.

Upload scanned copies of essential documents, including matriculation certificate, post-graduation degrees, NET/PhD certificates, experience letters, and passport-sized photograph and signature in the prescribed formats.

Pay the non-refundable application fee online via integrated payment gateways using net banking, credit/debit cards, or UPI, and download the system-generated fee receipt.

Submit the finalized application form, download the confirmation page for future reference, and regularly check the portal for the release of the e-admit card.

Comprehensive Selection Process & Syllabus Framework

The candidate evaluation matrix for Approved Faculty is governed by standardized testing protocols designed to assess core competency, analytical reasoning, and specialized domain knowledge.

Selection Phase / Exam Paper	Weightage & Duration	Core Syllabus Scope & Evaluation Focus
Stage 1: Computer Based Screening Test	100 Marks, 120 Minutes	Quantitative Aptitude, Logical Reasoning, General Financial Awareness, English Language, Basic Statistics
Stage 2: Cadre Domain Specialization	200 Marks, 180 Minutes	Advanced Financial Management, Public Finance and Budgeting, Macroeconomics, Regulatory Framework of Indian Financial Markets, Pedagogical Methodologies
Stage 3: Presentation and Personal Interview	100 Marks, 45 Minutes	Classroom Teaching Demonstration, Research Proposal Defense, Communication Skills, Subject Matter Expertise, Personality Assessment
Stage 4: Document Verification and Medical Examination	Qualifying (No Marks)	Verification of Original Academic Degrees, Experience Certificates Validation, Caste and Category Certificates Scrutiny, Standard Medical Fitness Evaluation

7th Central Pay Commission (CPC) Compensation Structure

The Approved Faculty position at MEGFINANCE Authority is aligned with Level 10 of the 7th Central Pay Commission (CPC) Pay Matrix, carrying an entry basic pay of INR 57,700. With the current Dearness Allowance (DA) set at 53% (INR 30,581), and assuming posting in a Class X city with House Rent Allowance (HRA) at 30% (INR 17,310), the remuneration is highly competitive. Additionally, Transport Allowance (TA) is calculated at INR 7,200 plus DA on TA (INR 3,816), totaling INR 11,016. This culminates in a robust Gross Monthly Salary of approximately INR 1,16,607. After statutory deductions under the National Pension System (NPS) at 10% of Basic plus DA (INR 8,828) and professional tax, the estimated net in-hand monthly salary stands at approximately INR 1,05,000, making it a highly lucrative academic-administrative role.

Statutory Reservation & Age Relaxation Guidelines

Recruitment to the Approved Faculty cadre at MEGFINANCE Authority strictly adheres to the consolidated guidelines issued by the Department of Personnel and Training (DoPT), Government of India. Vertical reservation is provided with a 10% quota for Economically Weaker Sections (EWS), 15% for Scheduled Castes (SC), 7.5% for Scheduled Tribes (ST), and 27% for Other Backward Classes (OBC-NCL). Upper age limit relaxations are granted as follows: 5 years for SC/ST, 3 years for OBC, and 10 years for Persons with Benchmark Disabilities (PwBD). In compliance with central norms, women candidates are exempted from paying the application fee.

Recruitment & Examination FAQs — Approved Faculty

How are the qualifying cutoffs determined for the screening test?

Cutoffs are determined based on the total number of vacancies, difficulty level of the exam, and the overall performance of candidates, adhering to minimum qualifying marks of 40% for General/EWS and 35% for reserved categories.

Is there a normalization process for multi-shift exams?

Yes, if the Computer Based Screening Test is conducted across multiple shifts, a standard equipercentile normalization method approved by DoPT is applied to ensure equity.

Is there a service bond or minimum service agreement?

Selected candidates must execute a service indemnity bond of INR 2,00,000 to serve the MEGFINANCE Authority for a minimum period of two years from the date of joining.

What is the duration of the probation period?

Newly recruited Approved Faculty members will undergo a mandatory probation period of two years, during which their teaching performance and conduct are closely evaluated.

Where can I access the detailed syllabus for the domain specialization?

The detailed, topic-wise syllabus for the Cadre Domain Specialization paper is available in Annexure-II of the official recruitment notification on the MEGFINANCE portal.

Where will the selected candidates be posted?

Selected faculty members will be posted at the primary headquarters of the MEGFINANCE Authority in New Delhi, or any of its regional training centers across India.