Wages and Salary[1]-1.Doc

8/12/2019 Wages and Salary[1]-1.Doc

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DECLARATION

I, Tanya vashistha, hereby declare that the Project Report entitled

Wages & Salary Administration ritten and s!bmitted by me to the

"niversity o# P!ne, P!ne in partial #!l#illment o# the re$!irements #or the

a ard o# degree o# %%A, !nder the g!idance o# Pro# S'I('A

S'"%'A) is my original or* and the concl!sions dra n therein are

based on the material collected by mysel#

Place+ P" - TA .A /AS'IST'A

0ate+ Research St!dent

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ACKNOWLEDEMENT

The main objective o# s!mmer training 2 c!m project is to provide !s

ith opport!nity to e3perience the practical aspect o# management in any

organi4ation i e chance to get into the #ield o# organi4ation and it5s

#!nctioning 0!ring this project I have been #ort!nate to get this

opport!nity to st!dy not only a good organi4ation5s #!nctioning b!t also

to get the g!idance o# some highly e3perienced e3ec!tives

I e3press my deep sense o# gratit!de to o!r

Project g!ide Pro# S'I('A S"%'A) #or their contin!o!s s!pport

d!ring my project or* This project o!ld not have been completed

itho!t their val!able s!pport and g!idance

I hereby, deeply e3press my gratit!de to ARTI6I7IA8

8I)%S )A "6A7T"RI 9 7:RP:RATI: :6 I 0IA #or giving

me an opport!nity to or* as trainee at its (A P"R P8A T !nder

s!mmer inter ship program I am very than*#!l to company g!ide )r /

( Trivedi ;)anager P&A< #or his contin!o!s s!pport and g!idance

e3tended to me d!ring entire period o# training

I o!ld also li*e than* to all the employees o# A8I)7:, (A P"R

Place+ P!ne TA .A /AS'IST'A

0ate+

=


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INDEX

S.No. TOPICS PAGE NO.

1 ACKNOWLEDGEMENT

2 LIST OF TABLE

3 LIST OF FIGURE

4 CHAPTER 1:-INTRODUCTION

5 CHAPTER 2:-PROFILE OF THE ORGANI ATION

! CHAPTER 3 :-RESEARCH DESIGN AND

METHODOLOG"

# CHAPTER 4:-DATA ANAL"SIS ANDINTERPRETATION

$ CHAPTER5:-FINDINGS ANDSUGGESTION

>


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EXECUTI%E SUMMAR" OF THE PRO&ECT

This Project is an overall implementation and !nderstanding o# Wages &

Salary Administration in Arti#icial 8imbs )an!#act!ring 7orporation o#

India The idea behind selection o# this project is mainly d!e to its

nat!re and importance in the overall '")A R-S:"R7-

)A A9-)- T o# any organi4ation It is important #rom both the

organi4ational point o# vie as ell as #rom an individ!al5s point o#

vie

In this project or* the main emphasis is given to #ind

o!t+

0i##erent areas & challenges in managing the Wages and salary

administration

The satis#action level o# the sta##, o##icers and or*ers regarding

salary

What are the allo ances, basic and other bene#its related to salary

What is the earning amo!nt ;in salary< and ded!ction amo!nt ;#rom

salaryEBB, )anches ar Ind!strial Area,

%h!banesh ar C@1G1G

BANGALORE

Regional )ar*eting & 0isability

Rehabilitation 7entre, A8I)7:

o 1?E?>, Ind!strial S!b!rb,

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.esh antp!r, T!m*!r Road,

%angalore @BGG==

&ABALPUR

Plot o ?G, 1GB and 1GC

Richhai Ind!strial Area, Habalp!r ?F=G1G

GUWAHATI

A8I)7: :!trich 7entre

7 R 7, P ) R T %!ilding

6irst #loor , 9! ahati )edical 7ollege and 'ospital 7amp!s

%hangaghar 9! ahati CF1G>=

2.2 %)()o0 @ M)(()o0 o +, O '0)?' )o0

%ISION

-3pansion o# the man!#act!ring base by establishing ne prod!ction

centers

)oderni4ing its e$!ipments and #acilities

Introd!cing ne prod!cts and technology

-stablishment o# ne R&0 centers

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0evelopment o# cost e##ective aids and appliances #or the

handicapped #rom r!ral and remote areas

"pgradation o# '!man Reso!rce S*ill

MISSION

R-ST:RATI: :6 0I9 IT. :6 )A

2.3 H)( o )*'/ B'*; o80 o +, O '0)?' )o0

The 9overnment o# India !nder (,* )o0 25 o T+, Co7 '0),( A* 1 5!

set !p A ) )*)'/ L)7 ( M'08 '* 8 )0 Co o ' )o0 o I0 )'

ALIMCO )0 1 #2 Its objective is not to earn pro#it instead it has

1?


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(o*)'/ o >,* )=,( And this as proposed to be done by man!#act!ring

arti#icial limbs components & rehabilitation aids and by promoting,

enco!raging & developing the availability, !se, s!pply and distrib!tion

o# arti#icial limb components & rehabilitation aids o# high $!ality to the

needy, disabled o# the co!ntry at reasonable cost A8I)7: comes !nder

M)0)( 6 o So*)'/ &8( )*, @ E7 o9, 7,0 .

The ( o0, o ALIMCO as laid do n on S!nday 1F th

ovember 1DC> by the /' , P )7, M)0)( , S7 . I0 ) ' G'0 +). The

organi4ation started man!#act!ring disability aids in 1DCB and bro!ght

abo!t the concept o# mass man!#act!ring o# mod!le limb components to

red!ce the time o# #abrication o# prosthesis & orthosis and cost o#

prod!ction o# all varieties o# aids and appliances A8I)7:, an ISO

1:2 7ompany is the premier and the largest man!#act!rer o#

$!ality disability aids and appliances #or orthopaedically, vis!ally and

hearing impaired

A8I)7: is spread in a spra ling area o# 43

'* ,(. Its man!#act!ring !nit and head o##ice are located in (anp!r

2.4 H), ' *+6 S 8* 8 , o ALIMCO

In A8I)7: there are o8 /,=,/( o# management+

TOP MANAGEMENT

%oard o# 0irector

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7hairman & )anaging 0irector

9eneral )anager

;:##icers in grade -C & above@@ types o# aids & appliances #or :rthopaedically,

'earing and /is!ally 'andicapped

5. 1C Prod!cts o# A8I)7: con#orm to standard, laid do n by

%!rea! o# Indian Standards, ;%IS persons ith disabilities

$. A8I)7: has transitioned into a prod!ct, service & sol!tions

7ompany #rom generally a man!#act!ring 7ompany in the Past

. It provides aids, appliances and component to 1 million disabled

persons in the co!ntry every year

1 . A8I)7: has earned good ill #or the co!ntry by providing

Arti#icial limbs o 1 /'0 7)0, =)* )7( o A +'0)( '0 in only

one month and by establishing a limb #itting centre there incl!ding

training to local artisans

11. 7!stomers o# A8I)7:+ ational Instit!tes

=>


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State 9overnments

0ealers and :thers

-3ports

9:5s

CHAPTER 3

RESEARCH DESIGN @ METHODOLOG"

=?


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R,(,' *+ is an organi4ed and systematic ay o# #inding ans ers to

$!estions thro!gh the application o# scienti#ic proced!res

R,(,' *+ M, +o o/o 6 is a ay to systematically solve

the research problem It has many dimensions and research method does

constit!te a part o# the research methodology Research )ethodology

incl!des vario!s steps There sho!ld be systematic ay o# data collection

and presentation o# the project report Proper decisions have to be ta*en

based on data collected

3.1 R,(,' *+ D,() 0

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R,(,' *+ D,() 0 is the concept!al str!ct!re ithin hich research is

cond!ctedJ it constit!tes the bl!eprint #or the collection, meas!rement

and analysis o# data

6or the project report E /o ' o 6 R,(,' *+ D,() 0 has

been !sed The main p!rpose o# e3ploratory research is o# #orm!lating a

problem #or more precise investigation The major emphasis in s!ch

st!dies is on the discovery o# ideas and insights

3.2 S'7 /)0 D,() 0

A ('7 /, ,() 0 is a de#inite plan #or obtaining a sample #rom a given

pop!lation As there are vario!s departments in A8I)7: and the total

n!mbers o# employees or*ing in A8I)7: are ?@?, it as not

practically possible and #easible to collect in#ormation and data #rom

each o# them So #or the project report K P o ' )/) 6 S'7 /)0 M, +o

has been !sed, to gather and collect in#ormation In this sample design

each and every item in the pop!lation has an e$!al chance o# incl!sion in

the sample In this sampling design, the pop!lation m!st be clearly

de#ined

3.3 Po 8/' )o0 S)?,

Pop!lation re#ers to the total items abo!t hich in#ormation is desired

It is o# t o typesJ #inite and in#inite 6or the project report pop!lation is

o# #inite type The si4e o# the pop!lation is ?@?

=B


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3.4 S'7 /, S)?,

It re#ers to the 087 , o ) ,7( o , (,/,* , o7 +, o 8/' )o0 to

constit!te a sample The sample si4e selected consisted o# ?G

respondents

3.5 S'7 /)0 M, +o

S)7 /, R'0 o7 S'7 /)0 has been !sed #or the project report It

comes !nder Probability Sampling methods

3.! So8 *, '0 7, +o ( o D' ' Co//,* )o0

6or the p!rpose o# gathering in#ormation and collecting data regarding

ages & salary administration at A8I)7:, t o types o# method have

been adopted namely, Primary 0ata, and Secondary 0ata

P )7' 6 D' '

Primary data means, data hich is collected a#resh and #or the #irst time

and th!s happen to be original in character U0 , P )7' 6 D' '

Co//,* )o0 , the #ollo ing techni$!e has been adopted

a< Str!ct!red L!estionnaire

b< In#ormal tal*s ith e3ec!tive personnel

c< In#ormal tal*s ith non e3ec!tive personnel

S,*o0 ' 6 D' '

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I re#ers to the data hich has already been collected and analysed by

someone else U0 , S,*o0 ' 6 D' ' Co//,* )o0< in#ormation and data

#rom the #ollo ing doc!mentary so!rces have been gathered

a< Personnel man!al A8I)7:

b< %oo*s and )aga4ines in the library

c< /ario!s p!blications o# %'-8

d< :nline database

3.# L)7) ' )o0( o +, S 8 6

Time #actor as a##ecting the research st!dy, tho!gh I tried to collect

the ma3im!m in#ormation in the minim!m time slot

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I co!ldn5t get eno!gh time to interact ith the some people as they

ere b!sy ith their sched!le

Some respondent ere !n illing to ans er my $!estions They ere

hesitating to p!t their opinions

=D


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CHAPTER 4

DATA PRESENTATION< DATA ANAL"SIS AND

INTERPRETATION

D' ' P ,(,0 ' )o0

While or*ing on the project titled Wages & Salary Administration in

A8I)7:, in order to collect the in#ormation, in $!estionnaire, $!estions

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have been incl!ded ranging #rom satis#action level o# employees in

regard ith salary, or*ing environment, salary scale compared to the

nat!re o# or*, bon!s, #acilities !nder -SI Act 1D?F to retirement

bene#its, pension scheme etc

S'/' 6 ( 8* 8 , o ALIMCO:

E' 0)0 D,(* ) )o0

B'()* P'6-

>1


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S ,*)'/J P, (o0'/ P'6 - @G o# basic pay

D,' 0,(( A//o9'0*, R' ,(

6or :##icers, 6oreman &S!pervisor having code no G1, G=

M ?B F o#;basic payN special pay<

6or employees having code noG>, G?, G@

1GG o# ?B F ;basic payN special pay< !pto a basic o# B@@GE

C@ o# ?B F ;basic payN special pay< #or basic above B@@GE s!bjectto minim!m o#

I0 8( )'/ D.A- DC > o# ;basic payN dearness pay< O@G

C+)/ ,0 E 8*' )o0 A//o9'0*,- 1=G #or = children till 1GN=

Ho8(, R,0 A//o9'0*,- =@ o# ;basic pay N special pay>

O0/6 o0 9o ;)0 '6(


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Chart 1

Male 95%

Female 5%

N87 , o D)(' /, E7 /o6,,( )0 To '/ Wo ; o *,

Chart 2

Normal 91%

Disabled 9%

Co0 '* Wo ;, (

In A8I)7: aro!nd >@ o# or* is done thro!gh contract basis It

means contract or*ers constit!te aro!nd >@ o# the total or*#orce

Chart 3

Contract basis 35%

Regular basis 65%

M)0)787 W' ,( o Co0 '* Wo ;, (

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Fo O )*, ( P'6 S*'/,

G ' , O )*, ( P'6 S*'/,

- G H!nior o##icersE engineer B@GG =GG 11>@G

- 1 Asst engineerE o##icers FBGG =@G 1?BGG

- = Asst managerE senior 1GC@G >GG 1BC@G

>@

C' , o 6 W' ,(

"ns*illed Wor*ers 11? Rs Per 0ay

Semi s*illed 1>G Rs Per 0ay

S*illed 1?? Rs Per 0ay

G o8 P'6 S*'/,

A >F@G D@ @C@G

% >DGG 11G B1GG7 ?G=G 1=@ B@=G

0 ?1@G 1>@ BF@G

- ?B@G 1?G C?@G

6 @@GG 1@G F@GG

9 @DGG 1BG D1GG

' B1GG 1D@ 1G,GGG


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o##icer

- > 0ep!ty )anager 1>GGG >@G 1F=@G

- ? )anager 1?@GG >@G 1FC@G- @ Senior )anager 1BGGG ?GG =GFGG

- B 0ep!ty 9)

- C 9eneral )anager 1F@GG ?@G =>DGG

Pay Scale o# CMD- =C>GG

P'67,0 T)7)0

T,*+0)*'/ S ' gets salary on the last day o# the month

And all the O +, E7 /o6,,( get salary on the #irst day o# the

month

The )( 8 (,7,0 o ('/' 6 is done thro!gh the S ' , B'0; o

I0 )' #or all employees e3cept contract or*ers

A ,0 '0*,

T)7, O )*, *eeps the attendance record o# all the sta## & or*ers,

s!pervisors, #oreman

'e also maintains absenteeism record C'(+ '9' is given #or good

attendance

Co7 '06 S,* , ' 6 *eeps the attendance record o# o##icers

Fo +, *'/*8/' )o0 o ('/' 6< ' ,0 '0*, )( *o80 , o7 21 ( o +,

7o0 + o 22 0 o +, 0, 7o0 +

>B


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C'(+ A9' o Goo A ,0 '0*,:

7ash a ard o# Rs >GGE ill be paid to those employees every $!arter

ho remain contin!o!sly physically present d!ring the $!arter in the

7orporation The a ard ill be paid $!arterly i e in the month o# M'6C


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1 8eave R!les

= )edical R!les

> -mployee State Ins!rance

? 8eave Travel 7oncession

@ Travelling Allo ance

B %on!s

C Pension

L,'=, R8/,(

In A8I)7: employees get B types o# leaves, and they are as #ollo s

1. -arned leave

2. 'al# pay leave or medical leave

3. 8eave itho!t payE 7ompensatory leave

4. 7as!al leave

5. Special cas!al leave

!. )aternity leave

1.E' 0, /,'=,: -arned 8eave shall accr!e to an employee at the rate

o# o0, 9+o/, '6 o ,=, 6 ) ,,0 '6( spent on d!ty

The ma3im!m period o# -arned 8eave hich can be acc!m!lated by

the employee shall be >GG days

The ma3im!m -arned 8eave hich can be sanctioned at a time

shall not e3ceed BG days

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-arned 8eave ill not be granted more than si3 times in a year

2. H'/ '6 /,'=, o 7, )*'/ /,'=,: 'al# Pay 8eave shall accr!e to an

employee at the rate o# one hole day #or every =G days on d!ty

'al# Pay 8eave may be granted on medical gro!nds only

The ma3im!m period !p to hich hal# pay leave can be acc!m!lated

shall be DG

3. L,'=, 9) +o8 '6JCo7 ,0(' o 6 /,'=,: -3tra :rdinary 8eave

may be granted to an employee ho is on probation or con#irmed

hen no other leave is admissible to him

4. C'(8'/ /,'=,: 7as!al 8eave is admissible to the employees o# the

7orporation to the e3tent o# 1= days in a calendar year

5. S ,*)'/ *'(8'/ '6: Special 7as!al 8eave !p to a ma3im!m o# @

days in a year may be granted to an employee at the discretion o# the

competent a!thority #or participation in c!lt!ral, sports and other

occasions

6. M' , 0) 6 /,'=,: )aternity 8eave may be granted to omen

employees #or periods hich may e3tend !p to DG days

E0*'(+7,0 o L,'=,:

E' 0, L,'=, e3ceeding >G days standing to the credit o# an employee

and !p to a ma3im!m o# >G days may be enchased at the leave salary

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rate 6or the p!rpose o# encashment o# -arned 8eave, there sho!ld be a

minim!m o# BG days acc!m!lation to the credit o# an employee

B'()* '6 S ,*)'/ P'6 D.A

3

M, )*'/ R8/,(

)edical R!les shall apply to all the employees o# the 7orporation other

than cas!al employees and those covered !nder -SI scheme

1. In case the employee o# the 7orporation or member o# hisEher #amily

!ndergoes treatment in any +o( ) '/< 08 ()0 +o7, o o +, 9)(, ,

the medical e3penses ill be borne by the 7orporation in #ollo ing

manner+

' In case o# employee or member o# hisEher #amily !ndergoes indoor

treatment in a +o( ) '/ entire medical e3penses ill be allo able on

act!al basis e3cept operation charges

:peration charges ill be limited to the e3tent o# amo!nt chargeable

by AII)S #or s!ch operation T+, Co o ' )o0 9)// ,' ,0 ) ,

7, )*'/ , ,0(,( )0 *'(, o '**) ,0 o**8 , o0 8 6 9) +)0

'* o 6 ,7)(,(

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In case an employee or member o# hisEher #amily !ndergoes indoor

medical treatment in a N8 ()0 Ho7, e3penses borne by the

7orporation ill be as !nder+

:peration charges ill be limited to the e3tent o# amo!nt chargeable

by AII)S #or s!ch operation

FG o# the balance amo!nt o# bills ;e3cl!ding medicines< raised by

the !rsing 'ome, )edicines d!ring treatment and seven days there

a#ter ill be reimb!rsed at #!ll cost by the 7orporation

A**o77o ' )o0 J B, J Roo7 ,0 *+' ,(:

T '=,//)0 A//o9'0*,(

Rail ay #are #or ' ),0 '0 o0, ' ,0 '0 ill be admissible to an

employee as per hisEher entitlement !nder Traveling Allo ance R!les #or

!ndergoing medical treatment o# himEhersel# or members o# hisEher

#amily #rom the place o# posting to the re#erred place 'o ever, )o

' o='/ o C+') 7'0 '0 M'0' )0 D) ,* o ill be re$!ired #or all

s!ch visits #or o!tstation treatment

?1

C' , o 6 o ,7 /o6,,( A**o77o ' )o0 J B, J Roo7,0 *+' ,(

%asic pay "p to Rs DGGGE Room !p to Rs >@GE per 0ay%asic pay above Rs DGGGE Room !p to Rs ?@GE per 0ay

7hairman & )anaging 0irector Act!al


42/68

E7 /o6,, S ' , I0(8 '0*, S*+,7,

The employees hose earning is belo Rs 1GGGGE per month can opt #or

ESI (*+,7, , according to T+, E7 /o6,, ( S ' , I0(8 '0*, A* o

1 4$

"nder -SI scheme the contrib!tion #rom employee side ill be M 1 C@

and #rom the employer side it ill be M ? C@

?=

M, )*'/ A//o9'0*, A7o80

)a3im!m 1@GGGE

)inim!m FGGGE


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Th!s bene#it period starts > months a#ter the contrib!tion period is over

It means the employee ill get the sic*ness bene#it and maternity bene#it

only d!ring bene#it period Th!s, an employee gets these bene#its only

a#ter joining employment and paying contrib!tion

ESI o , ( ,0, ) ( (8*+ '(:

)edical %ene#it

Sic*ness %ene#it

)aternity %ene#it

0isablement %ene#it

-tc

?>

Co0 ) 8 )o0 P, )o B,0, ) P, )o

1st September to >1 st )arch 1 st H!ly to >1 st 0ecember

1st April to >G th September 1 st Han!ary to >G th H!ne


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L,'=, T '=,/ Co0*,(()o0

The o >,* o +)( 8/, is to grant, as a el#are meas!re, travel

concession to the employees o# the 7orporation and their #amilies o0*,

)0 ' /o*; o 9o 6,' ( #or jo!rneys to their 'ome To n, or to Any

:ther Place in India

The 8eave Travel 7oncession shall be admissible to an employee

and his #amily

The ,0 ) , *o( o# the #are #rom the 'ead$!arters to his 'ome

To n and vice versa irrespective o# the distance involved shall be

') 6 +, *o7 '06

E0*'(+7,0 o LTC o +, , ,0 o #5 o# the cash val!e #or the

entitled class #or the distance o# 1@GG (ms each ay ill be entitled

#or sel#, spo!se and t o dependant children only once in a bloc* o#

#o!r years

Mo , '0 C/'(( o A**o77o ' )o0 A=')/' /,

??


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T '=,//)0 A//o9'0*,

6or )embers o# the %oard & 9eneral )anager act!al boarding &

lodging e3penses ill be paid

D.A R' ,(

?@

C' , o 6 o E7 /o6,, A**o77o ' )o0

0ra ing a pay o# Rs @,@GGE andabove

A7 = Tier

0ra ing a pay o# beloRs @,@GGE

Sleeper 7lass

B'()* P'6 G ' , Mo , D.A R' ,( Ho ,/ C+' ,( *o0=,6'0*,

O )*, ( Wo ;7,0 P. *) 6 O +,*) 6

P. *) 6 O +,*) 6

1$5 '0' o=,

IA) JAC

R'> +'0)JT' )

3 24 $5 # A* 8'/

1! -1$5 II A) J II ACR'> +'0) 25 2 # 5! A* 8'/

$! - 1!1 -

1!III II AC J AC

3R'> +'0)

2 1! 5 4 A* 8'/

!55 -$! !$5 - 1 I/ II AC J 1(

*/'(( 15 12 35 2$ #5

4 2 -!55 415 -!$5/

IJ IIIACJ S+' ' ) #5 25 2 !

B,/o9 4 2 415 /I II clas ( #5 ! 1 $ 45

A ='0*, 1 #5 1

D.A R' ,( A//o9, A7o80

8ess than B ho!rs =G

Above B ho!rs less 1= ho!rs @G

Above 1= ho!rs 1GG


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Bo08(

In accordance ith the Payment o# %on!s ;Amendment< :rdinance

=GGC, the competent a!thority has approved #or payment o# bon!s M

F >> o# salary or Rs 1GGE hichever is higher

The above payment shall not be made to those employees hose salary

e3ceed Rs 1GGGGE per month 6or the p!rpose o# 7alc!lation o# bon!s

M F >> the ma3im!m salary shall be ta*en at Rs >@GGE per month

Bo08( )( ,)0 )=,0 o0/6 o +, 9o ;, (.

P,0()o0

Pension is given to the employees according to E7 /o6,, P,0()o0

S*+,7, 1 5

6or e3ample, i# someone5s salary is 1?DB= BG Then there ill be 1=

contrib!tion #rom both employee and employer to the provident #!nd

scheme Then F >> o# -mployer5s contrib!tion ill be diverted to

E7 /o6,, P,0()o0 S*+,7, 1 5 ;i e , to S ' , P,0()o0 S*+,7, < and

the rest amo!nt ill go to the 8( . $.33 )( *'/*8/' , o0 +, '7o80

o R( !55 E

R, ) ,7,0

?B

Wages earned -mployee -mployer RP67 Tr!st

1?DB= BG 1CDB 1CDB @?1 1=@@


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In A8I)7: the retirement age o# employees are BG years A#ter

retirement the employees get vario!s bene#its They are as #ollo s+

9rat!ity Amo!nt

-arned 8eave ;not more than >GG :n resignation

? :n death or disablement d!e to accident or disease

@ :n Retrenchment

?C


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7ondition o# G@ year contin!o!s service is not necessary i# service is

terminated d!e to death or disablement

C'/*8/' )o0 o G ' 8) 6

%asic Pay N Special Pay N 0 A 3 no o# years 3 1@

=? Wor*ing 0ays

M' )787 G ' 8) 6

The ma3im!m amo!nt o# grat!ity payable sho!ld not e3ceed Rs

>,@G,GGG in any case

P o=) ,0 F80

The P o=) ,0 F80 aims to provide social sec!rity and to help

employees increase savings, hich ill bene#it or*ers a#ter they retire,

or their #amily members a#ter their death

T+, E7 /o6,,( P o=) ,0 F80 9'( ,( ' /)(+, 6 '0 A* )0 1 52.

The amo!nt o# an -mployee s Provident 6!nd is calc!lated as 12 ,

*,0 o# his ages, *o0 ) 8 , 6 o + +, ,7 /o6, '0 +,

,7 /o6,, The employee s contrib!tion m!st be ded!cted #rom his

earnings

?F


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P o=) ,0 F80 B,0, ) (

A Provident 6!nd gives bene#it to both employee and employer

B,0, ) o E7 /o6, (

-mployers can !se the bene#its o# a provident #!nd to attract and

retain val!able sta##

-mployees are motivated to or* longer term #or the 7ompany

It helps employers create li$!idity

B,0, ) o E7 /o6,,(

It is a sec!re savings plan

Provident #!nds #ollo a lo ris* investment strategy

The #!nds are managed by %ang*o* %an*5s pro#essional #!nd

management team

?D


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D' ' A0'/6()( '0 I0 , , ' )o0

1. Are yo! satis#ied ith yo!r or* or post on hich yo! are or*ingQ

:pinion Total o!t o# ?G Res!lt

.es =F CG o 1= >G

I0 , ,0*,:

According to this #ig!re CG o# the employees are satis#ied ith their

e3isting post hile >G o# the employees are not satis#ied

@G

DATA ANAL"SIS AND INTERPRETATION


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= Are yo! satis#ied ith yo!r salaryQ


.es >= FG o F =G

I0 , ,0*,:

According to this #ig!re FG o# the employees are satis#ied ith their

salary hile =G o# the employees are not satis#ied

3. Are yo! satis#ied ith the or*ing environment in A8I)7:Q


.es =@ B= @ o 1@ >C @

@1


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I0 , ,0*,:

According to this #ig!re B= @G o# the employees are satis#ied ith the

or*ing environment hile >C @G o# the employees are not satis#ied

4. 7ompared to the nat!re o# or* salary scale here are goodQ


.es >@ FC @ o @ 1= @

I0 , ,0*,:

@=


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According to this #ig!re FC @G o# the employees are satis#ied ith their

salary hich they are getting in accordance ith the nat!re o# their job

hile 1= @G o# the employees are not satis#ied

5. A#ter retirement the pension hich yo! get according to E7 /o6,,

P,0()o0 S*+,7, 1 5 , are yo! satis#ied ith the schemeQ


.es 1@ >C @ o =@ B= @

I0 , ,0*,:

@>


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According to this #ig!re >C @G o# the employees are satis#ied ith the

pension hich they are getting b!t B= @G o# the employees are not

satis#ied beca!se the amo!nt hich they are getting is very lo

!. 0id the 7ompany give yo! bon!s any timeQ


.es =G @G o =G @G

I0 , ,0*,:

According to this #ig!re @G o# the employees are getting the bon!s

hile @G o# employees are not getting the bon!s beca!se in A8I)7:

bon!s is being given only to the or*ers and not to the o##icers

@?


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#. Are yo! satis#ied ith the #acilities hich yo! get !nder -SI Act

1D?FQ


.es >G C@

o 1G =@

I0 , ,0*,:

According to this #ig!re C@ o# the employees are satis#ied ith the

#acilities hich they are getting !nder -SI Act 1D?F hile =@ o# the

employees are not satis#ied ith the #acilities hich they are getting

!nder -SI Act 1D?F

$. 0o the employees o# the organi4ation gets re ards and recognition in

@@


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proportion to the e3cellence o# their job per#ormanceQ


.es =? BG

o 1B ?G

I0 , ,0*,:

According to this #ig!re BG o# the employees are satis#ied ith the

re ards and recognition hich they get in proportion to the e3cellence o#

their job per#ormance hile ?G o# the employees are not satis#ied

. 0o the employees o# the 7ompany get )edical 6acilities a#ter

@B


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retirement or notQ


.es G G

o ?G 1GG

I0 , ,0*,:

According to this #ig!re all 1GG o# the employees o# A8I)7: don5t

get medical #acility a#ter retirement

1 . 0oes the 7ompany provides attractive retirement bene#its to its

employeesQ

@C


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.es =D C= @

o 11 =C @

I0 , ,0*,:

According to this #ig!re C= @G o# the employees are satis#ied ith the

retirement bene#its hile =C @G o# the employees aren5t satis#ied

@F


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CHAPTER 5

OBSER%ATIONS< FINDINGS< CONCLUSIONS

AND SUGGESTIONS

@D


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O (, =' )o0(

While or*ing on the project, titled Wages & Salary Administration in

A8I)7:, hen as*ed abo!t the satis#action level o# salary, or*ing

environment, retirement bene#its, #acilities !nder -SI Act 1D?Fetc

majority o# employees are satis#ied

While, hen as*ed abo!t the pension scheme, medical

bene#its a#ter retirement majority o# the employees aren5t satis#ied

F)0 )0 ( @ Co0*/8()o0(

:n the basis o# the in#ormation gathered by the means o# $!estionnaire

#illed by the employees o# Personnel & Administration 0epartment,

)aterial )anagement 0epartment, Prod!ction 0epartment etc o# the

:rgani4ation, the #ollo ing concl!sion can be dra n+

1. )ostly employees are satis#ied ith the salary hich they get

2. 7ontract or*ers don5t get the hole compensation beca!se they get

the salary #rom the contractor

3. There is no any provision o# the medical bene#it a#ter retirement

4. )ostly employees are not satis#ied ith the #acilities hich they get

a#ter the retirement

BG


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5. -mployees are satis#ied ith the or*ing environment in the

7ompany

!. -mployees are not satis#ied ith the E7 /o6,,( P,0()o0 S*+,7,

1 5. %eca!se the amo!nt hich they get is very less

#. )ostly -mployees are satis#ied ith the #acilities li*e leaves,

medical #acility etc

S8 ,( )o0(

-mployees sho!ld be provided 7, )*'/ '*)/) 6 a#ter their retirement

too

1. 7ontract or*ers sho!ld also provided ith some #acilities li*e

medical, ho!sing, canteen etc

2. A8I)7: sho!ld provide direct salary to the contract or*ers, by

hich they get hole compensation

3. In every department one *o7 /')0 o sho!ld be there So that,

every employee can p!t their complaint, hich ill go directly to the

concerned a!thority

4. In every department there sho!ld be one (8 ,( )o0 o So that

employees can give their s!ggestion hich ill also be bene#icial #or

the 7ompany

5. 7ompany sho!ld provide /RS

B1


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!. According to the E7 /o6,,( P,0()o0 S*+,7, 1 5 the employees

are not satis#ied so ALIMCO sho!ld la!nch a ne pension scheme

This ill be bene#icial #or the employees a#ter retirement

#. 7orporation sho!ld provide job to the dependent o# those employees

ho died d!ring their service period

B=


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BIBLIOGRAPH"

Personnel )anagement + by )emoria 7 %

'!man Reso!rce )anagement + by 9!pta 7 %

'!man Reso!rce )anagement + by As athappa (

8abo!r 8a s + by Hain S P

Research )ethodology + by (othari 7 R

B>


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ANNEXURE

8,( )o00') ,

A:- I ,0 ) 6)0 )0 o 7' )o0 o +, ,( o0 ,0 :

1. ame o# the employee

2. ame o# the organi4ation ALIMCO

3. Age gro!p ;a< 1F =@ ;b< =B >@

;c< >B ?@ ;d< Above ?@

4. Se3 ;a< )ale ;b< 6emale

5. 8iteracy ;a< 1G th class ;b< 1= th class

;c< 9rad!ate ;d< Postgrad!ate

;e< I# other please speci#y

!. )arital Stat!s ;a< )arried ;b< "nmarried

#. at!re o# the job per#ormed by the employee

B?


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$. 0epartment

. Service -3perience

B: I0 o 7' )=, =),9( 6 +, ,( o0 ,0 :

1. Are yo! satis#ied ith yo!r or* or post on hich yo! are or*ingQ

;a< .es ;b< o

2. Are yo! satis#ied ith yo!r salaryQ

;a< .es ;b< o

3. Are yo! satis#ied ith the or*ing environment in A8I)7:Q

;a< .es ;b< o

4. 7ompared to the nat!re o# or* salary scale here are goodQ

;a< .es ;b< o

5. A#ter retirement the pension hich yo! get according to E7 /o6,,

B@


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P,0()o0 S*+,7, 1 5 , are yo! satis#ied ith the schemeQ

;a< .es ;b< o

!. 0id the 7ompany give yo! bon!s any timeQ

;a< .es ;b< o

#. Are yo! satis#ied ith the #acilities hich yo! get !nder -SI Act

1D?FQ

;a< .es ;b< o

$. 0o the employees o# the organi4ation get re ards and recognition in

proportion to the e3cellence o# their job per#ormanceQ

;a< .es ;b< o

. 0o the employees o# the 7ompany get )edical 6acilities a#ter

retirement or notQ

;a< .es ;b< o

1 . 0oes the 7ompany provides attractive retirement bene#its to its

employeesQ

;a< .es ;b< o

11. Any disabilities, i# yes then please mention itQ

BB


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A06 (8 ,( )o0 o ,, '*; 6o8 9o8/ /);, o *o0 ) 8 ,

BC


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