1

PROJECT TITLE

WELFARE AND INCENTIVE SCHEMES BY IRCON

For the partial fulfillment of

Master of Business Administration

ISLAMIC UNIVERSITY OF SCIENCE & TECHNOLOGY
Awantipora
(2011 - 2013)

SUBMITTED BY

SHEIKH MOHD YASIR

CERTIFICATE
This is to certify that Sheikh Mohd Yasir student of ISLAMIC UNIVERSITY OF SCIENCE AND TECHNOLOGY,AWANTIPORA has completed his field work report at IRCON INTERNATIONAL LMTD. On the topic of Welfare and Incentives Schemes by IRCON and has submitted the field work report in partial fulfillment of MASTER IN BUSINESS MANAGEMENT of the IUST for the academic year 2011-13. He has worked under our guidance and direction. The said report is based on bona fide information.

UNDER THE GUIDANCE AND SUPERVISION OF

Mr. Nagendra Joshi JGM Finance

&

Mr. A. Mohan Extension Manager HRM

ISLAMIC UNIVERSITY OF SCIENCE AND TECHNOLOGY

DECLARATION
I hereby declare that the project titled Welfare and Incentives Schemes by IRCON is an original piece of research work carried out by me under the guidance and supervision of Mr. Nagendra Joshi (JGM Finance) and Mr. A. Mohan (Extension Manager HRM). The information has been collected from genuine & authentic sources. The work has been submitted in fulfillment of MASTER IN BUSINESS MANAGEMENT of IUST.

Sheikh Mohd Yasir

ACKNOWLEDGEMENT
First and foremost I thank to Almighty Allah for showering his choicest blessings on me. Without His grace, I would not have been what I am today. Any creation does not only outcome of ones effort but also happens to be reflections of the imprints what people has left on the person and mine is no exception. Therefore, it becomes a question of my veracity to convey my wish of thanks to all. On the verge outset I would like to thank Allah who is an integral part and pillar of my success. His grace and guidance helped me to present work in the present form. The joy of ingenuity!!! This is doubtlessly what this project is about. Before getting to brass tacks of things. I would like to add a heartfelt word for the people who have helped me in bringing out the creativeness of this project. To commence with things I would like to take this opportunity to gratefully and humbly thank to Project guide, Mr. Nagendra JOSHI & Mr. A. Mohan, IRCON, BANIHAL, for being appreciative enough by giving me an opportunity to undertake this project IRCON. My parents need special mentions here for their constant support and love in my life. I also thank my friends and well wishers, who have provided their whole hearted support to me in this exercise. I believe that this Endeavor has prepared me for taking up new challenging opportunities in future.

INDEX
Topic Page number

Introduction Objective Research Methodology Company Profile Literature Survey Data Analysis Findings Conclusion Suggestions Bibliography

7-8 10 12 14-17 20-46

48-51 53 55 57 59

INTRODUCTION

INTRODUCTION

An incentive is something that motivates an individual to perform an action. The study of incentive structures is central to the study of all economic activity (both in terms of individual decision-making and in terms of co-operation and competition within a larger institutional structure). Economic analysis, then, of the differences between societies (and between different organizations within a society) largely amounts to characterizing the differences in incentive structures faced by individuals involved in these collective efforts. Ultimately, incentives aim to provide value for money and contribute to organizational success.

Categories;
Incentives can be classified according to the different ways in which they motivate agents to take a particular course of action. One common and useful taxonomy divides incentives into four broad classes: Class Definition

Remunerative incentives Are said to exist where an agent can expect some form of material reward especially money in exchange for acting in a particular way. financial incentives

Moral incentives

Are said to exist where a particular choice is widely regarded as the right thing to do, or as particularly admirable, or where the failure to act in a certain way is condemned as indecent. A person acting on a moral incentive can expect a sense of self-esteem, and approval or even admiration from his community; a person acting against a moral incentive can expect a sense of guilt, and condemnation or even ostracism from the community.

Coercive incentives

Are said to exist where a person can expect that the failure to act in a particular way will result in physical force being used against them (or their loved ones) by others in the community for example, by inflicting pain in punishment, or by imprisonment, or by confiscating or destroying their possessions.

Natural Incentives

such as curiosity, mental or physical exercise, admiration, fear, anger, pain, joy, or the pursuit of truth, or the control over things in the world or people or oneself.

OBJECTIVE

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OBJECTIVE

1. To study the welfare and incentive schemes provided by IRCON International Ltd to their employees 2: To study the various sources of incentives in IRCON. 3: To learn about what is followed by IRCON in incentive management. 4: To search or headhunt people whose skill fits into the companys values.

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RESEARCH METHODOLOGY

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REASERCH METHODOLOGY
In everyday life human being has to face many problems viz. social, economical, financial problems. These problems in life call for acceptable and effective solutions and for this purpose, research is required and a methodology applied for the solutions can be found out. Research was carried out at IRCON INTERNATIONAL Ltd. to find out the Welfare and Incentive schemes.

DATA COLLECTION:

Primary Data:

Primary data was collected through survey method by distributing questionnaires to employees. The questionnaires were carefully designed by taking into account the parameters of my study.

Secondary Data:

Data was collected from books, magazines, web sites, going through the records of the organization, etc. It is the data which has been collected by individual or someone else for the purpose of other than those of our particular research study. Or in other words we can say that secondary data is the data used previously for the analysis and the results are undertaken for the next process.

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COMPANY PROFILE

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HISTORY
IRCON is a specialized Constructions organization covering the entire spectrum of construction activities and services in the infrastructure sector. However, Railway and Highway Construction, EHP sub-station (engineering and constructions), and MRTS are the core competence areas of IRCON. IRCON operates not only in a highly competitive environment but also in difficult terrains and regions in India and abroad and is an active participant in prestigious nation building projects. IRCON has so far completed more than 280 infrastructure projects in India and more than 90 projects across the globe in more than 21 countries. Area of Business: The core competence areas of operation of the Company in order of priority are - Railway, Highway and EHT Substation Engineering and Construction. IRCON is a turnkey construction company that is specialized in Railways (New Railway lines, rehabilitation/conversion of existing lines, Station Buildings and facilities, Bridges, Tunnels, Signaling and Tele-communication, Railway Electrification, and Wet Leasing of Locomotives), Highways, EHV sub-station (engineering, procurement and construction) and Metro rail.

Major Projects of Company: Malaysia

Project includes Design, construction, completion, testing, commissioning and maintenance of the double track project between Seremban and Gemas, Malaysia. Ircon is helping Malaysia revive a multibillion-dollar rail project that had been shelved in 2003 due to its high cost, Malaysia's transport minister said Saturday, according to a report. - 21 April 2007 - India's Ircon to take part in multibillion-dollar railway project in Malaysia. After winning this project worth USD 1 Billion in Malaysia for doubling of track, IRCON has became the first PSU of Ministry of Railways to bag the largest value project in a foreign country. The company thereafter was awarded the rehabilitation of Railway line projects of about 250 million US$ in Sri Lanka.

J&K,India
The project deals with design and construction of New BG Rail link from Quazigund Baramulla (both stations inclusive) in Kashmir valley inclusive of planning, design and construction of all the services and residential buildings, circulating area, parking, platforms, subways, shelters and other allied structures of all stations involved the construction of Rail link between Quazigund and Baramulla (Total Length 117 km) in Kashmir Valley.

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The project was turnkey construction involving the following areas: Survey & Design Infrastructure Works (Earthwork, Bridges) Track Work Signaling Works Electrical Works The project is unique and challenging in the aspect that it passes through the difficult terrain, inaccessible areas and working in the region severely affected by militancy. The project posed the challenge by involving high bridges, viaducts and tunnels. IRCON was assigned the work by Ministry of Railways on the ground of its capability of executing the work in challenging and difficult areas. IRCON successfully completed above project despite adverse climate and conditions. At a time of heavy snow fall and rain fall when there was no work going on in the valley IRCON engineers and staff were on the job completing the work in a tight time frame.

Bihar, India
The scope of the project is construction of steel superstructure and other ancillary works of rail cum Road Bridge across river Ganges at Patna. It is one of its own kind because of huge steel structured bridge amounting to over INR 1200 Crores. This is going to be the first largest steel girder bridge

Milestones Achieved
Total length of track laid = 2025.62 km Total length of track (Ongoing Projects) = 1174 km

Countries of operation
Malaysia Sri Lanka Mozambique Iraq Iran Algeria Iran Bangladesh

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Awards and accolades;

IRCON has been a consistent winner of the Highest Foreign Exchange Earner Award in the construction sector. From Engineering Export Promotion Council, the Company has won 18 Awards of Excellence, including the All India Trophy for the Top Exporters in the category of Merchant Exporters in recognition of the outstanding contribution to Engineering Exports. From Project Exports Promotion Council of India, IRCON has won 42 Awards of Excellence, including, The Award for Maximum Foreign Exchange Earned and Repatriated to India from Overseas Service Contracts. Some of the awards are listed below:

First to get the ISO-9001:2008 Certification from TUV Germany National Citizen's Award for Unique Contribution in the Field of Engineering Projects Award for Excellence Received from Department of Public Enterprises

Customers:
1. 2. 3. 4. 5. 6. 7. 8. Government of India Indian Railways Delhi Metro Rail Corporation Ministry of Road Transport & Highway National Highway Authority of India Rail Vikas Nigam Limited Malaysia Railway Mozambique Ports and Railways

Ircon Infrastructure & Services Limited (IISL)

Ircon Infrastructure & Services Limited (A wholly owned subsidiary of Ircon International Limited) was incorporated under the Companies Act, 1956 on 30 September 2009. The Company has obtained a Certificate of Commencement of Business on 10 November 2009 from the office of Registrar of Companies. The main objects of the company as enshrined in its Memorandum and Articles of Association are to undertake infrastructure projects; to carry on any infrastructure construction work on Build-Operate-Transfer (BOT), Build-OwnOperate-Transfer (BOOT), Build-Lease-Transfer (BLT), etc. or otherwise or any other scheme or project found suitable in and related to the field of infrastructure projects and other ancillary fields; planning, designing, development, improvement, commissioning, operation, maintenance, etc. in the field of construction of infrastructure of Multi-Functional Complexes (MFCs), etc. to provide facilities and amenities to users of Indian Railway System. News:[1]; and all matters in the field of real estate and allied areas to make use of the opportunities that may arise. This includes providing project management, quality management, safety, health and environment related consultancy services to clients.

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Following are its main clients: Ministry of External Affairs (India) Ministry of Railways (India)

Key person:
Mohan Tiwari Chairman & Managing Director K.K. Garg Director (Finance) Deepak Sabhlok Director (Projects) Mr. Hitesh Khanna Director (Works) Saswati Bandopadhyay (Chief Vigilance Officer) Lalitha Gupta (Company Secretary & GM/Law) lalitha.gupta@ircon.org cvo@ircon.org hitesh.khanna@ircon.org deepak.sabhlok@ircon.org kk.garg@ircon.org mohan.tiwari@ircon.org

Vision and Mission of Company:

Vision
To be recognized nationally and internationally as a specialized construction organization comparable with the best in the field covering the entire spectrum of construction activities and services in the infrastructure sector.

Mission
i) To effectively position the Company so as to meet the construction needs of infrastructure development as per the changing economic scenario in India and abroad. ii) To earn global recognition by providing high quality products and services in time and in conformity with the best engineering practices as well as good corporate governance and customer satisfaction.

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Location of Head Quarter

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LITRATURE SURVEY

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MULTI PURPOSE ADVANCE;

Purpose, Eligibility & Quantum All regular employees including deputations are eligible for multipurpose advance to meet varied financial needs of emergent nature like marriages / social functions, education of children, furnishing of house, purchase of electronic appliances including computer for home and to meet other domestic requirements, contingencies etc as per details given below: 10 times of basic pay (IDA scale employees), and 10 times of basic pay and Grade pay put together (CDA scale employees). Subject to a ceiling of Rs. 200000/- or Max., whichever is less. Adhoc employees can be sanctioned advance only in very special circumstances, on case to case basis, as decided by the competent authority subject to the condition that they should have completed five years uninterrupted service in the company. Rate of interest. 7.5% (Simple).

Repayment;
The principal shall be recoverable first in maximum 60 installments followed by interest in maximum 10 installments and in case of deputationists before the expiry of the deputation period.

Number of occasions on which advance can be granted;

An employee can avail of this advance in one or a maximum of two installments only, during his / her entire service in the company.

Surety;
Employees with less than 10 years of service will have to give one surety. In case of deputationists, services rendered in their parent organization will also be counted for this purpose. Surety has to be of an IRCON employee only having not less than 5 years residual service on the date of application.

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MEDICAL BENEFITS;
Spouse, dependent unmarried / widowed / separated daughter, dependent unmarried son upto the age of 25 years, (children born after 31 01 2003 to parents having more than two children, including step children and adopted children will not be entitled to medical benefits), dependent parents, dependent unmarried brothers / sisters up to age of 18 years residing with the employee. Dependent means those members whose average monthly income from all sources during the financial year of the claim does not exceed Rs. 2723/- p.m. or 15% of the employees pay, whichever is more. A Dependency Certificate will be submitted by the employee while preferring any claim for medical reimbursement. The various medical benefits are as under.

Outdoor Treatment;
Outdoor medical treatment includes consultation, diagnostics and treatment both at the consulting room of the Authorized Medical Attendant (AMA) and at the residence of the employee. The expenses for outdoor treatment is being paid proportionately every month, as detailed below, along with monthly salary. Designations Managing Director Directors General Managers Addl. General Managers Joint General Managers Deputy General Managers Managers Assistant. Managers A.O.S./ S.O./ JE & below Entitlements Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. 2363/- p.m. 2075/- p.m. 1958/- p.m. 1767/- p.m. 1658/- p.m. 1383/- p.m. 1302/- p.m. 967/- p.m. 667/- p.m.

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Employees, being paid proportionate amount every month are required to furnish declaration, in the prescribed format about utilization of annual outdoor entitlement latest by January every year, failing which it may attract TDS.

Indoor Treatment;
Indoor treatment means treatment including diagnostics and consultations leading to indoor admission / hospitalization and follow-up diagnostics, consultations and medicines upto 30 days from the date of discharge and only if there is a specific advice for follow-up consultation / tests at the time of discharge from hospital / nursing home.

The expenses on indoor treatment will be reimbursed if the treatment is taken in Govt. Hospital, Government aided hospital, Trust hospital operating on a no-profit-no-loss basis and Hospital / Nursing Home registered with the local bodies / State Government. Company is maintaining a database of hospitals, Reimbursement of expenses incurred on diagnostics and treatment during hospitalization shall be as per actual. Reimbursement on account of room rent shall be restricted as under:Designations Ceiling of Room Rent (rupees per day) for different cities (City classification is as in case of HRA) X MD / Directors AGNs &above but below Board level . . 10000 8750 5000 4375 Y 2500 2188 Z Unclassified 1625 1375

Assistant Managers to . JGM & equipment AO/AE Below asstt. . .

4500

2250

1125

675

3700 2900

1850 1450

925 375 725

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NOTE: The rates for diagnostics, room rent and treatment given above for indoor treatment will apply to self, spouse and children. In case of dependents other then spouse and children, the rates applicable will be that as would have been applicable to the employee if the treatment had been taken in AIIMS, New Delhi. Ambulance charges for emergent transportation of the employees and members of their family from residence to hospital by road shall be reimbursable as per actual on production of voucher / money receipt from the hospital / service provider only in those cases where the patient has been admitted to the hospital. Advance for the purpose of Indoor medical treatment can be sanctioned on furnishing an estimate of the likely expenditure from registered hospitals where treatment is proposed to be taken. Advance shall be released through a cheque / draft in favour of the hospital. Bills / vouchers shall be submitted within 30 days from the date of discharge from the employees salary from the next month, unless condoned by the competent Authority in exceptional cases. Unutilized / nonreimbursable portion of medical advance may be returned in a maximum of 2 interest free installments. Reimbursement for indoor treatment shall be made only for the allopathic system of treatment.

Special Diseases;
Reimbursement of expenses for outdoor treatment on- Cancer, Cardiac ailments, Kidney ailments, treatment arising out of accidents / fire, etc., Diabetes, Mental Diseases, Poliomyelitis, Cerebral Palsy and Spastics, Tubercular diseases, Thalassaemia major, AIDS, Hypertension, Glaucoma and Prostates (considered as special diseases) shall be made as per actual and would be in addition to the ceilings for outdoor treatment, with the approval of competent authority. Diagnosis of the above diseases must be properly and legibly mentioned on the prescription by Authorized Medical Attendant (AMA), failing which it will be processed for reimbursement as if for normal medical reimbursement. The consultation charges for outdoor treatment of special diseases would be as under: At AMAs clinic With specialists Rs. 200/- per consultation

Rs. 500/- per consultation

Ceiling on charges for subsequent consultations will be 80% of the initial fees.

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Periodical Medical Check-up (PMC)

The employee and his / her spouse between the age of 50 (46 years in case of female employees and wife of male employees) and 56 years are entitled to a comprehensive medical checkup at companys expenses every alternative year; and, those who are of above 56 years of age every year till superannuation / retirement of the employee, in the hospital nominated by the company for this purpose. In case of any suspected abnormality detected during medical checkup, further investigation and tests may be carried out as considered necessary and the costs will be reimbursed as part of the Periodical Medical Checkup. Expenses on this account would be in addition to the ceilings for outdoor treatment. The periodical medical checkup shall include: For Males General Physical Examination. Routine urine and stool examination. Eye examination-Ophthalmologic assessment. X Ray-Chest (P.A.view), Resting Electro-cardiography. Hematology (HB, TLC, DLC, ESR & Blood group), Blood sugar-fasting, PP Cholesterol, Triglycerides, Urea, Creatinine, 8 Gamma G.T., SGOT, SGPT, Alk.Phosphates. Ultrasound-Abdomen Prostate specific antigen test Tread Mill Test For Females Gynecological checkups with Pap smear, General Physical Examination, Routine urine and stool examination, Eye examination-Ophthalmologic assessment, X Ray-Chest (P.A.view), Resting Electro-cardiography,

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Hematology (HB, TLC, DLC, ESR & Blood group), Blood sugar-fasting, PP Cholesterol, Triglycerides, Urea, Creatinine, 8 Gamma G.T., SGOT, SGPT, Alk.Phosphates, Bone Densitometry Test, Mammography Ultrasound-Abdomen Tread Mill Test

LEAVE TRAVEL CONCESSION (LTC) FOR HOME TOWN AND ANY OTHER PLACE IN INDIA
Employees, except those who are not in the whole time employment of the company, casual employees on daily rates and deputationists from Indian Railways, who have completed one years of journey can avail LTC for themselves and the members of their family for visiting home town / any other place in India subject to the laid down conditions. The limitation of one year would, however, not be applicable for the employees who join the company on deputation followed by absorption or join on permanent absorption basis. Family for the purpose of LTC would meanSelf, spouse, legitimate children, step children, adopted child (if adoption is legally recognized and confers the status of a natural child), major sons and married daughters (including widowed daughters) so long as they are residing with the employee or the family and wholly dependent upon the employee; and Dependants i.e. parents, step-mother, sister (unmarried / widowed), minor brothers, if they are residing with the employee or the family and wholly dependent upon him. Note: a) Legitimate child or step child / parents / sister / minor brother who are residing with the

employee or the family and whose income from all sources including pension and DA relief on pension, interest income etc, does not exceed Rs. 2723/- p.m. or 15% of the pay of the employee, whichever is more is deemed to be wholly dependent upon the employee. b) Not more than two dependants can be included in the claim for LTC subject to the

condition that the total number of persons included in the LTC claim will not exceed 5 (five). This limit will not apply if only self, wife and own children are included in the LTC claim.

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The LTC would be available for once in a block of two calendar years for visiting home town and once in a block of four calendar year for visiting any other place in India in lieu of a visit to home town. An employee can claim reimbursement of travel expenses from the headquarters / place of residence of the family (as per the option) to home town / any other place in India and back limited to total fare by the entitled class of travel.

The LTC not availed of in any particular block of two years may be carried forward to and availed of before the expiry of the first year of the succeeding block provided outward journey for such carried forward LTC is commenced before 31 st December of that year regardless of the date of completion of the return journey. The concession for visiting any place in India once in a block of four year if not availed in any particular block will be allowed to be carried forward to the first year of the next block of four years only if the employee is entitled to carry forward his concession to visit home town to that year. Block year of two calendar year is 2004-2005, 2006-2007 and so on. Block year of four calendar years is 2004-2007, 2008-2011 and so on. An employee and members of his family can also avail of the concession independently of each other. An employee whose family is living away from his / her headquarters may instead of availing the concession for himself and family once in a block of two years, avail of the concession for himself alone once every year for visiting home town. The amount of LTC claim would be limited to reimbursement of travel expenses by rail from the headquarters to home town / any other place in India and back. The entitlement for LTC is as under: Designation General Manager & above Entitlements Air Economy (Y) class by National Carrier, or AC 1st class by train. AGM / JGM / Dy. General Manger Manager / AM / AE Below AM / AE but upto Assistant Below Assistant AC 1st class AC II tier Sleeper First Class / AC-III tier Sleeper class

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Note: a) Claims for traveling by Rajdhani / Shatabadi trains shall be entertained only if journey is actually performed by these trains. b) If an employee or his family travel by road, by private car or otherwise, the reimbursement shall be equilant to what would have been admissible had the journey been performed by the entitled class, or the actual expenses, whichever is less.

For claim against journey by road prior intimation of the competent authority is necessary. The concession is restricted to journey within India only. In the case of a hometown falling outside India, the companys assistance shall be limited to the fares for journey upto and from the railway station in India nearest to the home town / port of embarkation / disembarkation in India. Advance for both the journeys- (i.e. outward & return) would be admissible if both journey would be completed within 90 days subject to following; Upto 80% of the estimated fare for the entitled class. 65 days prior to commencement of outward journey through public transport i.e., Air / Rail / Ship / Bus / Package tours etc. 15 days prior to commencement of outward journey by own vehicle / private taxi. Ticket for travel should be purchased within 15 days from the date of drawl of advance; otherwise interest would be levied @ 15% p.m. from the date of drawl of advance. If the outward journey is not commenced within the stipule period, the advance is to be refunded within 10 working days failing which penal interest @ 15% per month shall be levied w.e.f the date of drawl of advance. The concession shall be admissible only when an employee proceeds on leave of any kind including casual leave irrespective of the period of leave taken. LTC can also be combined with transfer or tour with certain conditions.

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LEASE;
Assistant Managers / Assistant Engineers and above have the option to avail the facility of LEASE in lieu of HRA. Lease facility can be availed by them at any place of their choice within the country, wherever employees choose to retain their family. The monthly rental ceilings given below are for unfurnished leased residential accommodation where company owned accommodation is not available. These entitlements are applicable to third party as well as self-leased residential accommodation. Monthly rental ceilings for different places / cities are as under: Designations Monthly Rental Ceilings in Rupees

(Class of cities) X-class 30% ED / GM Addl. G.M.s Joint G.G.M Dy.G.M.s Managers Dy.Managers Assistant Managers AE/AO 12150 8100 4050 21900-24000 19800 18600 17400 16350 15150 13950 14600-16000 13200 12400 11600 10900 10100 9300 7300-8000 1600 6200 5800 5450 5050 4650 cities Y-class cities 20% Z-class cities 10%

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Recovery of rent for providing leased accommodation is made at the rates given below: Recovery 10% of Basic Pay (for CDA employees Basic pay + Grade pay) Brokerage Charges
(Not applicable on self-lease & lease with relatives)

equal to an amount not exceeding one month rental ceiling, payable directly to the broker if accommodation is arranged through a broker

Advance Deposit
(Not applicable on self-lease & lease with relatives)

equal to 3 months rental may be paid directly to the house owner (interest free). To be refunded to the Company on expiry of the Lease.

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RETENTION OF IRCONS RESIDENTIAL ACCOMMODATION;

With the permission of the competent Authority, IRCON employees, including deputationists, may be allowed to retain company owned / leased residential accommodation in various situations like transfer / retirement / deputation / repatriation / resignation / death, etc, as detailed below: S.No Event Retention period for Company owned Quarters (in months) On Normal Rent On Double the Normal Rent Total Retention period for Company leased Quarters on normal rent

(in months) 1. Permanent Transfer Two Four Six Full period as per Lease policy Full period. Entire rental to be paid by the employee as per lease policy. Two

2.

Foreign Posting

Two

Two

Four

3.

Deputation to other organizations Repatriation of a deputationists (back to parent deptt.) Death

Two

Two

Four

4.

Two

Two

Four

Two

5.

Six

Two

Eight

Four

Normal rent is the rate of rent recoverable from the employee as decided by the Company from time to time. Retention on payment of double the rent in cases other than resignation / VRS / Termination will be on grounds of sickness / education of children. Further retention on double the rent in such cases beyond the prescribed period will be considered on educational grounds only to cover the current academic session. Extension for retention of accommodation on any account should be supported by documentary evidence. Application for retention should reach the competent authority may be submitted within two months.

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Retention of any residential accommodation beyond the period permitted by the competent authority shall automatically be treated under unauthorized occupation and penal rent @ Rs. 1000/per day would become payable for the entire period of unauthorized occupation. In addition to levy of penal rent, the Company would have the right to initiate eviction proceedings and to take disciplinary action under IRCONs Conduct Discipline & Appeal Rules.

UNIFORM;
Category i) All supervisory staff required to do field work (Site Engineer and below) (b) Sufficient number of gumboots may be kept in the project office for issue to the persons who need them for site work. ii) Chowkidars .. (a) (b) One rain coat after every three years. One woolen jersey in winter every year (except in Mumbai / Navi Mumbai / Chennai & Kolkatta areas) iv) Messengers, car & Motor Drivers (other than Casual and daily rated) in Corporate Office and Projects in India. (b) (a) Summer Two pants and two bush(a) Scale of Uniform One rain coat after every three years.

shirts duly stitched to the size of the individual employee with IRCON logo on the left-hand pocket of the bush-shirt, Once in every two years. Winter One navy blue wollen suit (closed collar coat and pant) with IRCON logo on left hand side of the coat-duly stitched to size of the individual employee, every two year

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WELFARE SCHEMES;
Schemes for the welfare of IRCON employees and the financial support and assistance provided for their wards by the Company are given belowA. EDUCATIONAL
S.No Scheme Eligibility Educational course & the amount of incentive Post Graduation Graduation 6th to 12th 1st to 5th class - Rs. 4,000/Per child - Rs. 3,000/Per child - Rs. 2,500/Per child - Rs. 1,500/Per child

1.

Scholarships to wards of IRCON employees

a)

b)

c)

Employees in the scale of pay not exceeding Rs. 6500-10500 in CDA pattern and equivalent IDA scales. Ward should not be recipient of any other educational scholarship from any other source for the concerned period. Scholarship is restricted upto two children only.

2.

One time educational grant to wards of IRCON employees

Employees in the scale of pay upto Rs. 6500-10500 in CDA or equivalent IDA scale. To be paid at the time of admission only in respect of the following courses: Degree / Diploma courses or equivalent courses in Medical / Engineering / MBA. BCA / LAW / BBA degree / 3 years Technical / Engg. diploma course. Course should be from a reputed institute recognized by the University under the University Grants Commission.

Rs. 10,000/- (for 5 years degree courses) and Rs. 7500 (for 3 years Degree / Diploma courses)

OR

Actual educational cost, whichever is less, on production of original cash memo / receipt. Total reimbursement shall be restricted to actual educational cost or Rs. 10,000/- per annum whichever is less, on production of original cash memo / receipt. Cash award with certificate.

3.

Educational Assistance

Wards of deceased employeeThe assistance is available upto the level of Sr. Secondary only.

4.

Educational awards to meritorious children

Wards of employees who have passed 10th or 12th Board examination 10th class 12th class - 80% marks and above - 75% marks and above

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B. MARRIAGE ASSISTANCE 1. Marriage assistance for daughters / dependant sisters Group C and D only. Rs. 10,001/-

Assistance shall be restricted to two daughters / dependent sisters.

C. DISTRESS 1. Ex gratia payment To the next of kin of the employee who dies in harness To the next of kin of the employee who dies in harness (contract / Adhoc employees
only)

Rs. 40,000/-

2.

Funeral expenses

Rs. 5.000/-

D. RECREATION / SPORTS 1. Sports All projects in India shall be sanctioned Rs.5,000/an amount of Rs. 5,000/- to be utilized for purchase of one carom board and one badminton set (consisting of 1 badminton net, 2 rackets and 1 shuttle-cock box). Recurring cost for its maintenance etc. shall be borne by the project itself. Picnic organized by all Indian Transport charges @ Rs.200/- per employee or actual whichever is less Projects subject to the picnic spot being within All employees are eligible. 100 kms. Radius of the project.

2. (a)

PICNIC_ Reimbursement of traveling expenses for arranging annual picnic

(b)

Picnic organized by Corp. Office

Transport charges for attending picnic for the employees- reimbursed only once in a All employees posted in Corporate year. Office Corporate Office-

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RESORT FACILITIES
S.No 1. Resort Old Anchor Dalmia Resort Goa Eligibility All employees with family Amount The employee has to pay service fee per head per night and electricity charges. Children below 12 years of age are free. Charges vary from place to place and season to season.

REIMBURSEMENT Group B,C and D 75% of both service and electricity charges. Group A- 60% of both service and electricity charges.

2.

Sterling Holiday Resorts. (They are having Holiday Resorts at 40 locations in India and one in Sri Lanka)

All employees with family

All employees may submit their requests for availing resort facilities and subsequent claims to HR Department, Corporate Office.

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INCENTIVES
FAMILY PLANNING SCHEME;
For adopting small family norms, IRCON employees are eligible for incentives, as detailed below: A. Cash incentives Vasectomy i) ii) iii) iv) v) B. C. Amount for acceptors Drugs & Dressings Diet Transport Misc. (including Motivator) Special casual leave 6 days special CL to a male employee acceptor (Vasectomy). 14 days special CL to a female employee acceptor (Tubectomy). 7 days special CL to a male employee whose wife undergoes Tubectomy operation. 1 day special CL to a female employee accepting IUD Copper T. Special increment and rebate on interest One special increment in the form of Family Planning Allowance not to be absorbed in future increases of pay either in the same post or on promotion in higher post / grade. If both are employed, the spouse with higher increment can avail of special increment. Half percent rebate on interest on House Building Advance. Rs. 100/Rs. 15/- Rs. 25/Rs. 10/- Rs. 30/Rs. 15/- Rs. 15/Rs. 40/- Rs. 30/Tubectomy Rs. 100/---------Rs. 0.50 IUD (Copper T) Rs. 9.00

Conditions for grant of incentivesi) The special incentives are allowed provided the acceptor is within the reproductive age group. In the case of a male employee, this would mean that he should not be over 50 years of age and his wife should be between not be above 45 years of age and her husband must not be over 50 years of age. ii) In case of employees governed by IDA pattern of scales two or three living children; CDA pattern of scales- not more than two surviving children.

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iii)

The employees or his / her spouses sterilization operation (vasectomy / Tubectomy) is conducted and certificate to this effect is issued by an authorized competent authority of a Government hospital or Government aided hospital or Trust hospital operating on a no profit no loss basis or Hospital / Nursing Home registered with local bodies / State Governments.

INCENTIVE SCHEME FOR ACQUIRING ADDITIONAL QUALIFICATIONS Incentive for acquiring additional professional / technical qualifications is given to all regular employees of IRCON. One time lump sum monetary incentive given to employees who acquire additional / higher qualifications are mentioned belowS.No Qualification Cadre Amount of incentive

1.

M.Tech. / ME / M.Sc. (Engg.)

Engineering / Technical / I.T. Finance

2.

CA / ICWA / Final Examination of institute of Company Secretaries of India / Charted Financial Analyst (ICFAI)

3.

Ph.D / Fellowship equivalent to Ph.D (in any engineering and All Cadres management area), M.B.A (any specialization) / P.G.D.M from reputed institution (recognized by A.I.C.T.T. as equivalent to M.B.A) B.E. / B.Tech / A.M.I.E Engineering / Technical / I.T.

Rs. 12000/-

4.

Rs. 1000/- (A.M.I.E Sec-A Rs..4000/- & Sec-B (Final) Rs.6000/-) Rs. 8000/-

5.

Construction Project Management from NICMAR / Railway Engineering / Engg. From IPWE / Degree / PG Diploma in Materials Technical / I.T. Management / Q.P.M.P (Pass in 1st attempt). / M.S. Project, Prima Vera / MOSS, Design Software in Structural Engineering M.Com or Masters in related Finance / Commerce subjects. M.A in Personal Management & Industrial Relations or Masters in HR / related subjects. PG Diploma in HRM / Personal Management / Training & Development / Labor Laws Master in Computer Science or Application Finance HRM

6. 7.

8.

HRM

Rs. 8000/Rs. 8000/-

9.

All Cadres

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10.

LL.B / PG Dip. in Computer Management / System Management All Cadres / Management Studies / Business Administration / Business Law / Computer Application BCA, BBA, Diploma in Materials Management, HRM, Computer Management, Marketing and Business Development, Library & information Science, Accountancy, Finance Engineering / Technical, HRM, Stores, Library, Finance / I.T. Ministerial Cadres Engineering & Technical All Cadres

Rs. 8000/-

11.

Rs. 6000/-

12. 13

Graduation in Science, Arts & Commerce Trade Certificate from ITI / NCTVT or eq. in trades which are considered useful to Company working. S.S.C

Rs. 4000/-

14.

Rs. 2000/-

NOTE: The duration of the Diploma / PG Diploma should not be less than one year for the full time course and two years for a part time course. The following conditions shall apply for the grant of an incentive: a) Only such of the employees who acquire higher / additional qualification after induction into service shall be eligible to receive incentive. b) The qualifications mentioned above should be obtained from:# # A recognized university / institution; or A reputed body / institution affiliated to a recognized university or approved by UGC / AICTE or any other accredited body notified by Central / State Government. c) The monetary incentive will be paid only on successful completion of the entire course. d) No incentive would be allowed for purely academic or literary subjects. e) The pursuit of the prescribed course, by the employee shall not in any way interfere with his / her official duties. f) No additional allowance or facilities like time off, transport etc. will be provided by the Company for pursuance of the course. g) The employee will bear all expenses for acquiring the additional / higher qualification. h) The employee will avail leave as may be due for pursuing the course. This, however, in no way binds the Company to grant leave to the employee.

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i)

The managements permission to pursue a course for acquiring additional / higher qualification will not be a bar in transferring an employee.

j)

The employee who avails of the incentives should remain in IRC ONs service for a period

of at least one year after acquiring the additional qualification otherwise the monetary value of the incentive shall be recovered.

INCENTIVES FOR LEARNING AND WORKING IN HINDI

Training in Hindi, Hindi typing and Hindi stenography is compulsory for the employees of IRCON. Incentives for learning and working in Hindi would be admissible to all IRCON employees except those appointed as Hindi officers, translators, Hindi stenographers, Hindi typists and those employees who are in receipt of other incentives for promotion of Hindi.

Eligibility;
The eligibility criteria for various types of training in Hindi is as underi) Prabodh- Those employees whose mother tongue is Telgu, Tamil, Kannada, Malayalam, Mizo, Manipuri and English and who do not possess knowledge of Hindi even of the primary level are eligible. ii) PraveenThose employees who have passed Prabodh examination and whose mother-tongue

is Oriya, Bangla, Assamiya, Sindhi, Nepali, Marathi, Gujrati and who do not possess knowledge of Hindi even of the middle level are eligible. The employees who have learned Hindi as a second or third language or jointly wiyh some other language upto the level of Matric from non-Hindi speaking states and have secured minimum 33% marks shall be deemed to possess knowledge of Hindi of the level of Prabodh. iii) PragyaThose employees who have passed Praveen examination and non-Hindi speaking

employees whose mother-tongue is Punjabi, Urdu, Kashmir and Pushto and who do not possess knowledge of Hindi upto the level of Matric are eligible. The employees who have learned Hindi as a second or third language or jointly with some other language upto the level of Matric from the non-Handi speaking states and even though they have secured 33% marks or above, shall not be deemed to possess the working knowledge of Hindi. It is obligatory for such employees to get training in Hindi upto the level of Pragya.

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iv) Hindi Typing-

Those Assistants / Typists who possess knowledge of Hindi upto the level

of Praveen and know typing in English are eligible. Employees upto the grade of Assistant Office Superintendent in ministerial / accounts cadre and Hindi translators, for whom training in Hindi typing is useful, may also get training. v) Hindi StenographyThose employees who possess knowledge of Hindi upto the level

of Pragya or Matric are eligible. P.As in any capacity (including deputationists) and doing the work of stenography are also eligible.

Incentives-Personal Pay, Cash Award and other facilitiesIncentives given to employees subject to their being eligible for the same are as followsA. Personal PayEmployees who have been exempted from receiving in-service training will not get personal pay on passing the concerned examination. However, personal pay will be in addition to cash awards and lump sum award for which the officer / employees is entitled. The rate of increment for personal pay would be equal to the amount of the next increment die in the existing post. Personal pay would not qualify for any allowances. The details of personal pay to be granted on passing respective examinations are as under: i) Prabodh- Personal Pay equal to the amount of one increment for a period of 12 months to employees below the level of Assistant Manager who pass this examination with 55% or more marks for whom this course has been prescribed as a final course of study. Officers of the level of AM and above will not be eligible for personal pay. ii) Praveen- Personal Pay equal to the amount of one increment for a period of 12 months to employees iii) Below the level of Assistant Manager who pass this examination with 55% or more marks, and AM and above who pass this examination with 60% or more marks.

Pragya- Personal pay equal to the amount of one increment for a period of 12 months for whom this course has been prescribed as a final course of study.

iv)

Hindi Typing- Personal Pay equal to the amount of one increment for a period of 12 months to the employees below the level of Assistant Manager.

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v)

Hindi stenography- Personal Pay* For employees whose mother tongue is Hindi# Personal Pay equivalent to one increment for a period of 12 months to the employees below the level of Assistant Manager. # Personal Pay equivalent to one increment for a period of 12 months to the employees of the level of Assistant Managers and above provided they score 90% or more marks. * For employees whose mother tongue is not Hindi# Personal Pay equivalent to two increments to the employees below the level of Assistant Manager. # Personal Pay equivalent to the amount of two increments to the employees of the level of Assistant Manger and above provided they score 90% or more marks. Note: These increments would be absorbed in future increments earned i.e. in first year the employee would be getting the among of personal year the amount of personal pay equivalent to one increment.

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B. i)

Cash Incentives for passing various examinationsHindi examinationsName of the examination Prabodh * * On securing 70% or more marks On securing 60% or more marks but less than 70% marks * On securing 55% or more marks but less than 60% marks Rs. 100/Rs. 200/Rs. 200/Rs. 400/Rs. 200/Praveen Rs. 600/Rs. 400/Pragya Rs. 600/Rs. 400/-

ii)

Hindi Typing* * * On securing 97% marks or more On securing 95% marks or more but below 97% marks On securing 90% marks or more but below 95% marks Rs. 600/Rs. 400/Rs. 200/-

iii)

Hindi Stenography * * * On securing 95% marks or more On securing 92% marks or more but below 95% marks On securing 88% marks or more but below 92% marks Rs. 600/Rs. 400/Rs. 200/-

C.

Other facilities i) ii) iii) iv) v) vi) No fee is charged from the employees for training and examination; Text books of Hindi language are given free of cast; Classes are conducted during office hours; Travel expenses for attending the classes are reimbursed; TA / Actual expenses are given as per rules for appearing in the examination; Separate classes are also conducted for Teaching Hindi to the officers of the level of AM and above;

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vii) viii)

Permission is given to appear in the examination as a private candidate; Training in Hindi Language and Hindi Typing is also given through correspondence by the Central Hindi Training Institute for teaching Hindi;

ix) x) xi)

Entry is made in the Service Book on passing the prescribed examination; No income tax is levied on cash awards and lump sum awards; The certificate issued by the Hindi Teaching Scheme for passing Hindi typewriting examination has been recognized as equivalent to the certificate issued by the Staff Selection Commission for the purpose of regularization of employees, grant of increments, etc.

Lump sum award on passing the examination of Hindi Teaching Scheme through personal efforts. i) ii) iii) iv) v) vi) vii) Prabodh Examination of Hindi Teaching Scheme Praveen Examination of Hindi Teaching Scheme Pragya Examination of Hindi Teaching Scheme Hindi Typing Examination of Hindi Teaching Scheme Hindi Stenography Examination of Hindi Teaching Scheme Diploma in Hindi Examination of Central Hindi Directorate Such Hindi Examinations conducted by the voluntary Rs. 500/Rs. 500/Rs. 600/Rs. 400/Rs. 750/Rs. 600/Rs. 600/-

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Organizations which have been recognized by the Ministry of Human Resource Development (Education Department). Govt. of India as equivalent to Matric or Higher standard.

The employees who have been exempted from receiving in-service Hindi training will not be eligible for cash and lump-sum awards on passing Hindi examination equal to that standard.

Orders issued regarding financial incentives, such as personal pay, cash awards and lump-sum award payable to the employees on passing Hindi Typing and Hindi Stenography Examinations conducted by Hindi Teaching Scheme shall also be applicable to those employees who pass the Hindi Typing and Stenography Examinations conducted by Hindi Teaching Scheme by making use of Electric Typewriters, Computers and Word Processors.

Prizes during RAJBHASHA PAKHWARA: Every year RAJBHASHA PAKHWARA is organized in the month of September. During this period competitions viz. poetry recital, debate, Hindi typing, essay writing, noting and drafting, dictation, etc. are granted cash awards as under:* * * * First Prize Second Prize Third Prize Consolation Prize (fourth position) Rs. 1000.00 Rs. 750.00 Rs. 500.00 Rs. 200.00

Incentives on giving dictation in Hindi Officers who give the maximum number of dictations in a year would be eligible for an incentive of Rs. 1000/- (lump sum).

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Prizes during Annual Day:

Every year following awards are presented by the Managing Director on Annual Day of the Company.
Eligibility Senior Officers Award Amount Certificate and cash award No. of Awards Two Conditions Doing maximum work in Hindi and contribution in promotion of Hindi

Sr. Officers whose mother tongue is not Hindi

Rs. 1000/-

One

Use of Hindi in regular working of the Company and also to encourage their subordinates

All employees 1st prize 2nd prize 3rd prize Rs. 1000/Rs. 750/Rs. 500/Two Three Five } } } On writing 20,000 or more words in Hindi in a year

Eligibility All employees

Award Amount Rs. 1000/-

No. of Awards Three Personal award

Conditions

All employees

Rs. 200/- p.m. for one year

Upto ten

Employees responsible to issue documents under section 3 (3) of Official Languages Act viz. resolutions, general orders, rules, notifications, press releases, contract and agreements, licenses, permits, notices, forms of tender, administrative and other reports to be laid before both the Houses of Parliament, bilingually are selected for this purpose.

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HONORARIUM: For delivering lecturesa) The following rates of honorarium would be payable for delivering lectures as part of a training program or otherwise. The rates prescribed are slab-wise and on hourly basis and will be applicable for visiting faculty member / outsiders, as well as to IRCON employees. * * * * b) For lectures upto 1 hour For lectures between 1 hour to 2 hours For lectures above 2 hours For full day lecture Rs. 750/Rs. 1250/Rs. 1500/Rs. 5000/-

Towards compensation for conveyance charges for traveling to the lecture site* * As far as possible general pool vehicles are to be utilized. If the faculty member / IRCON employee arranges a vehicle of his own, he is to be

paid a lump-sum amount of Rs. 300/- extra, over and above the honorarium admissible.

FINAL SETTLEMENT BENEFITS:

On Resignation an employee is entitled to the following settlement benefits from the Company except the Provident Fund linked Pension which is to be claimed by him from the Provident Fund Commissioner through IRCON:

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Item No. 1.

Particulars Leave Encashment of i)

Quantum of Benefit

2.

Gratuity

Entire encashable leave; and 50% of non-encashable leave subject to a maximum limit of 75 days. Gratuity is payable (lump sum) if the employee has rendered qualifying service of not less than five years. Note: Minimum qualifying service is not applicable in the case of employees who have joined on deputation followed by absorption or joined on permanent absorption.

Gratuity will be equal to 15/26 of a months emoluments for each completed year of service or part thereof in excess of six months subject. to a maximum limit of Rs. 10 lakhs, and the terms of absorption (applicable in case of employees who have joined on deputation followed by absorption or joined on permanent absorption). ii) Gratuity will be paid for good, efficient and faithful ii) service. 3. Group Savings linked Ins. Provident Fund (PF) Amount of deposit in the running account along with interest by LIC.

4.

5.

PF Linked Pension

Employee has the option to either transfer his entire provident fund accumulations to the PF Fund of the new employer if he intends to join any other organization; or If he is not intending to join any other organization, he can withdraw the entire PF accumulations after two months from the date of resignation. Full pension is payable on completion of 60 years of age; Short pension is payable on completion on 50 years of age; Provided the following conditions are fulfilled The employee has contributed towards Pension Fund for a minimum period of 10 years including past service, and is not in service. Employees who do not fulfill the above conditions can either opt. for refund of the accumulated amount in the Pension Fund plus interest thereon or apply for the Scheme Certificate. The Scheme Certificate would indicate the details of accumulations and the period for which employees contributions have been made towards pension fund. The employee would retain the Scheme Certificate till he joins the new organization or attains the eligible age of pension. Employees can opt. for reduced pension also on completion of 50 years of age provided he is not in service and has contributed for a minimum of 10 years.,

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DATA ANALYSIS
D A T A A N A L Y S I S

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Data Analysis
I have collected the data up to 70-80 samples by using questionnaire and face to face interview and survey method. The primary data collected from the employees of the IRCON and also I got some related information from the human resource department of the IRCON. The employees respond positively in my questions and in their view the IRCON is providing a benefit which is satisfying their needs. While collecting the primary data the employees talks freely and give all the answer by citing the examples from the IRCON provide benefits.

Sampling Method:
Simple Random Sampling, A simple random sample (SRS) of size n consists of n individuals from the population chosen in such a way that every set of n individuals has an equal chance to be the sample actually selected.

Interview Process;
In the Interview process I went to the employees and then talked to the employees informally after I gave the printed questionnaire to the employee and explained him/her each and every question after that he/she tick mark the questions and also there are two or three open ended questions I asked him/her and whatever he/she said I note down in my note book. The interview was very structured and the mode of communication was only English.

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The Questionnaire which I provided to Employees of IRCON was designed like following;

PART I
GENERAL INFORMATION
Occupation: _____________________________________________________________ How long have you worked for this company? _________________________________ What previous positions have you held with the company? ________________________ _________________________________________________________________________ _______________________________________________________________________ What is your job title? _____________________________________________________ How long have you held your current position? _________________________________ Briefly describe your work responsibilities (as you would on a resume):
________________________________________________________________________________ ________________________________________________________________________________ ________________________________________________________________________________ ________________________________________________________________________________ ________________________________________

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Part II
Q1. What is your present range of salary per annum? Less than 3 lakh 3 - 5lakh More than 5 lakh

Q2. How often do you get salary increment? On every 6 months Within a year Within a span of 3 years Within 5years time span

Q3. How often do you get Incentive and bonus increment? On every 6 months Within a year Within a span of 3 years Within 5 years time span

Q4. What is the rate of salary increment? 2-3 percent of percent salary 3-5 percent of percent salary More than 10 percent of the present salary Depends on the work I am assigned to.

Q5. Do you get sufficient Incentives? Yes, I get sufficient incentives Sometimes, not always No, not at all its very less to count even

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Q5. How challenging is your job? Extremely challenging Very challenging Moderately challenging Slightly challenging Not at all challenging Q6. In a typical week, how often do you feel stressed at work? Extremely often Very often Moderately often Slightly often Not at all often

Q7. Are you satisfied with the Incentive Schemes Provided by IRCON? Much Satisfied Satisfied Not satisfied Dissatisfied

Q8. Do the Incentive Schemes fulfil your day to day needs? Completely fulfil Often fulfil Moderately fulfil Not fulfil

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FINDINGS

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FINDINGS

In IRCON most of the employees feel that the HR department is good. About 75% of the employees said that Incentives and good welfare schemes can motivate an employee to a great extent and can result in effectiveness and potential outcome. IRCON a multinational organization provides different types of welfare schemes to their employees and a verity of incentives to motivate them. As I have noticed in my internship period IRCON not only recruit employees but also put their high heels to retain them. IRCON (BANIHAL) is having a fully fledged HR department with trained and qualified HR personals that keep a dogwatch on the HR issues especially welfare schemes and Incentives. During my Internship employees never felt worried about their salaries and incentives because of committed HR department. There is a good superior subordinate relationship in the said department. The delegation of authority and responsibility is well versioned and there is less scope of role conflict and ambiguity. IRCON believes that employees are the real heads of any Organization. It is because of this thinking IRCON is successful in its every project.

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CONCLUSION

55

CONCLUSION
This presents the summary of the study and survey done in relation to the welfare and incentive schemes in IRCON INTERNATIONAL LIMITED. The conclusion is drawn from the study and survey of the company regarding the welfare and incentive scheme process carried out there. The welfare and incentive management is done objectively and therefore there is no chance of bias that will hamper the future of the employees. Most of the employees were satisfied by the welfare and incentive schemes provided by IRCON INTERNATIONAL LIMITED to them, but there is always a scope of improvement in everything so IRCON should be ready with newer incentive and welfare schemes so that the company will not face any problem in future competitive market

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SUGGESTION

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SUGGESTION
Manpower requirement for each department in the company is identified well in advance. If the manpower requirement is high and the recruitment team of the HR department alone cannot satisfy it, then help from the placement agencies is needed. Time management is very essential and it should not be ignored at any level of the process. Employers should embrace compensation and benefit strategy to integrate the various components of employee benefits into a single overriding strategy.

The organizations need to keep its welfare and incentive management up to date so that
advancement in these should be covered off.

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BIBLOGRAPHY

59

BIBLOGRAPHY

C.B Mamoria and S.V. Gankar (2004), Personal Management Text and Cases. Himalaya Publication.

K.Aswahthappa (2001), Human Resource and Personnel Management. Human Resource Management, (2005), Dr. P.C. Pardeshi C.B Gupta (2005) Research Methodology, Methods and Techniques By C.R. Kothari www.IRCON.org www.google.com

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