CHAPTER-I INTRODUCTION

INTRODUCTION: Torrington and Hall (1987) define personnel management as being: a series of activities which: first enable working people and their employing organisations to agree about the objectives and nature of their working relationship and, secondly, ensures that the agreement is fulfilled" While Miller (1987) suggests that HRM relates to: ".......those decisions and actions which concern the management of employees at all levels in the business and which are related to the implementation of strategies directed towards creating and sustaining competitive advantage"

Pay roll:
In a company, payroll is the sum of all financial records of salaries for an employee, wages, bonuses and deductions. In accounting, payroll refers to the amount paid to employees for services they provided during a certain period of time. Payroll plays a major role in a company for several reasons. From an accounting point of view, payroll is crucial because payroll and payroll taxes considerably affect the net income of most companies and they are subject to laws and regulations (e.g. in the U.S. payroll is subject to federal and state regulations). From ethics in business viewpoint payroll is a critical department as employees are responsive to payroll errors and irregularities: good employee morale requires payroll to be paid timely and accurately. The primary mission of the payroll department is to ensure that all employees are paid accurately and timely with the correct withholdings and deductions, and to ensure the withholdings and deductions are remitted in a timely manner. This includes salary payments, tax withholdings, and deductions from a paycheck.

Pay Check
A Pay Check is traditionally a paper document issued by an employer to pay an employee for services rendered. In recent times, the physical paycheck has been increasingly replaced by
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electronic direct deposit to bank accounts. Such employees may still receive a complete pay slip (see below) package, but the attached check is noted as non-negotiable. In most countries with a developed wire transfer system, using a physical check for paying wages and salaries has been uncommon for the past several decades. However, vocabulary referring to the figurative "pay cheque" does exist in some languages, like German (Gehaltsscheck), partially due to the influence of popular media, but this commonly refers to a payslip or stub rather than an actual cheque. Some company payrolls have eliminated both the paper cheque and stub, in which case an electronic image of the stub is available on an Internet website.

Payroll taxes
Government agencies at various levels require employers to withhold income taxes from employees' wages. In the United States, "payroll taxes" are separate from income taxes, although they are levied on employers in proportion to salary; the programs they fund include Social Security, and Medicare. U.S. income and payroll taxes collected through deductions are considered to be trust fund taxes, because the employer holds the deducted money in trust for later remittance. Human Resource Management: Objectives

On an average, every employee at Nutrient undergoes at least 2 training programmers for a financial year and the employer in HRD requires the executive development programmed at the time of intensive competition.

So the study is aimed to know the adequacy of training given to employees and employers.

To know whether employees and employers are having enthusiasm in knowing about training and development programmers, training plans, implementation and participation.

To suggest appropriate techniques and modification in training to achieve corporate goals. Development to employers arises due to providing technical skills and conceptual skills

to non-technical managers and managerial skills and conceptual skills to technical managers. Need for basic purposes of Employee Payroll: Employee Payroll of the employees is important if the employees are satisfied then only the organization can function smoothly increases its production, faces competition. If employees are satisfied with their job they will carry a positive attitude. Hence the study has been undertaken to assess the employee job Payroll which is necessary for the organization in order to make sound decisions. 1) To increase productivity. 2) To improve quality. 3) To help a company fulfill its future personnel needs. 4) To improve organizational climate. 5) To improve health & safety. 6) Obsolescence prevention. 7) Personal growth.

SCOPE OF THE STUDY One of the main functions of personnel management in industrial organization is to impart programmers to its employees. HRM plays a large part in determining the effectiveness and efficiency of the establishment. Increase in productivity is possible only when there is an increase in quantity of output. It applies not only to new employees but also to experienced people. It can help employees and employers to increase their level of performance and to develop skills, knowledge on their present job assignments. Objectives of Employee Payroll (ICICI): To Analyze the Pay roll System in ICICI Ltd., To ensure effective utilization and maximum development of Employee. To ensure reconciliation of individual goals with those of the organization. To achieve and maintain high morale among employees. To increase to the fullest the employee's job satisfaction and self-actualization. To develop and maintain a quality of work life. To develop overall personality of each employee in its multidimensional aspect. To enhance employee's capabilities to perform the present job.

RESEARCH METHODOLOGY Research is scientific and systematic search pertinent information in a specific topic. The meaning of research is A Careful Investigation (or) Inquiry. EMPLOYEE PAYROLL is the corner stone of sound management, and it makes employees and employers more effective and productive. It is actively and intimately connected with all personnel and managerial activities. There is a present need for EMPLOYEE PAYROLL measures. So that new and changed techniques may be taken advantage and improvements effected in new methods, which are woefully inefficient. Training is practical and of vital necessity because, apart from other advantages mentioned, and increase their Market Value, earning power job secure is spending for EMPLOYEE PAYROLL activities. It is introducing global concepts like

Team Building Time Management

It uses all the technology available and modern equipment in EMPLOYEE PAYROLL programmers. In a contemporary study, it was revealed that it is more inflammable so the workers and superiors must concentrate on the work what they are doing. At any time if they dont concentrate on their work it is very dangerous to the whole industry. RESEARCH METHODOLOGY The methodology that is adopted for the study is such that it facilities the data accumulation. The information is gathered through survey method. The survey method has been adopted for collecting the data from employees. RESEARCH DESIGN: Research Design is defined as the specification of methods and procedures for acquiring the information needed. Generally the research design is any of the following three typesDESCRIPTIVE, EXPLORATORY and CASUAL.

 DESCRIPTIVE STUDY: Descriptive study/research is marked by the prior formulations of specific research questions. The investigator already knows a substantial amount about the research problem before the project is initiated. Hence this is chosen for my research. EXPLORATORY STUDY: The major purpose of exploratory study is the identification of problem, the more precision formulation of problem and the formulation of new alternative courses of action. CASUAL STUDY: The study involves the determination of the causes of what the researchers are predicting. this is mainly a cause and effect study. The research design selected by the researcher in the present study is DESCRIPTIVE in nature. RESEARCH INSTRUMENT: HR research has a one main research instruments in collecting primary data. That is questionnaires. In order to extract first hand information from the respondents, a pre-tested questionnaire was prepared and the same was administered to the respondents. DATA SOURCES: Data means a collection of facts in real life statistical data is a collection of facts in numerical figures. The data sources are usually identified using the type of data needed. There are two types of data. 1. Primary data 2. Secondary data PRIMARY DATA: The first hand information by the investigator by means of observation face to face questioning, telephone interview and mailing questionnaire is called primary data. Primary data consists of original information gathered for a specific purpose.

 SOURCES OF PRIMARY DATA;For the purpose of present study, the primary data collected from respondents by contacting them personally. SECONDARY DATA: Secondary data consists of information that already exists somewhere, having been collected for another purpose SOURCES OF SECONDARY DATA: For the purpose of present study, the secondary data was collected from published data of the companies. Population is the aggregate of objects animate and in animate, under study in any statistical investigation. His population for the study here was employees in Met life. SAMPLING PROCEDURE With a view to arrive at the sample population for the study, a Purposive-Cum convenient sampling was followed. SAMPLE SIZE The sample size includes 100 employees who are working in the ICICI.

LIMITATIONS The study is limited to the policies and practices being followed in ICICI get the complete data, in view of its classified nature of the organization. Time factor is the main constraint for the study as it was restricted only to eight-nine weeks. Sampling error is not taken into consideration. The information given by the sample frame is thought accurate by researcher. As the method adopted is Random Sampling, result may not be accurate and believable. As the sample size is 100, whole of the facts could not be collected. The findings of the study are confined only to the question asked in the questionnaire and through personal interviews.
The study has been carried in ICICI Limited only.

CHAPTER-II INDUSTRY PROFILE & COMPANY PROFILE

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Banking in India Banking in India originated in the last decades of the 18th century. The oldest bank in existence in India is the State Bank of India, a government-owned bank that traces its origins back to June 1806 and that is the largest commercial bank in the country. Central banking is the responsibility of the Reserve Bank of India, which in 1935 formally took over these responsibilities from the then Imperial Bank of India, relegating it to commercial banking functions. After India's independence in 1947, the Reserve Bank was nationalized and given broader powers. In 1969 the government nationalized the 14 largest commercial banks; the government nationalized the six next largest in 1980. Currently, India has 96 scheduled commercial banks (SCBs) - 27 public sector banks (that is with the Government of India holding a stake), 31 private banks (these do not have government stake; they may be publicly listed and traded on stock exchanges) and 38 foreign banks. They have a combined network of over 53,000 branches and 17,000 ATMs. According to a report by ICRA Limited a rating agency, the public sector banks hold over 75 percent of total assets of the banking industry, with the private and foreign banks holding 18.2% and 6.5% respectively Early history Banking in India originated in the last decades of the 18th century. The first banks were The General Bank of India which started in 1786, and the Bank of Hindustan, both of which are now defunct. The oldest bank in existence in India is the State Bank of India, which originated in the Bank of Calcutta in June 1806, which almost immediately became the Bank of Bengal. This was one of the three presidency banks, the other two being the Bank of Bombay and the Bank of Madras, all three of which were established under charters from the British East India Company. For many years the Presidency banks acted as quasi-central banks, as did their successors. The three banks merged in 1921 to form the Imperial Bank of India, which, upon India's independence, became the State Bank of India. Indian merchants in Calcutta established the Union Bank in 1839, but it failed in 1848 as a consequence of the economic crisis of 1848-49. The Allahabad Bank, established in 1865 and still functioning today, is the oldest Joint Stock bank in India. It was not the first though. That
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honor belongs to the Bank of Upper India, which was established in 1863, and which survived until 1913, when it failed, with some of its assets and liabilities being transferred to the Alliance Bank of Simla. When the American Civil War stopped the supply of cotton to Lancashire from the Confederate States, promoters opened banks to finance trading in Indian cotton. With large exposure to speculative ventures, most of the banks opened in India during that period failed. The depositors lost money and lost interest in keeping deposits with banks. Subsequently, banking in India remained the exclusive domain of Europeans for next several decades until the beginning of the 20th century. Foreign banks too started to arrive, particularly in Calcutta, in the 1860s. The Comptoire d'Escompte de Paris opened a branch in Calcutta in 1860, and another in Bombay in 1862; branches in Madras and Pondicherry, then a French colony, followed. HSBC established itself in Bengal in 1869. Calcutta was the most active trading port in India, mainly due to the trade of the British Empire, and so became a banking center.

The Bank of Bengal, which later became the State Bank of India. The first entirely Indian joint stock bank was the Oudh Commercial Bank, established in 1881 in Faizabad. It failed in 1958. The next was the Punjab National Bank, established in Lahore in 1895, which has survived to the present and is now one of the largest banks in India. Around the turn of the 20th Century, the Indian economy was passing through a relative period of stability. Around five decades had elapsed since the Indian Mutiny, and the social, industrial

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and other infrastructure had improved. Indians had established small banks, most of which served particular ethnic and religious communities. The presidency banks dominated banking in India but there were also some exchange banks and a number of Indian joint stock banks. All these banks operated in different segments of the economy. The exchange banks, mostly owned by Europeans, concentrated on financing foreign trade. Indian joint stock banks were generally undercapitalized and lacked the experience and maturity to compete with the presidency and exchange banks. This segmentation let Lord Curzon to observe, "In respect of banking it seems we are behind the times. We are like some old fashioned sailing ship, divided by solid wooden bulkheads into separate and cumbersome compartments." The period between 1906 and 1911, saw the establishment of banks inspired by the Swadeshi movement. The Swadeshi movement inspired local businessmen and political figures to found banks of and for the Indian community. A number of banks established then have survived to the present such as Bank of India, Corporation Bank, Indian Bank, Bank of Baroda, Canara Bank and Central Bank of India. The fervor of Swadeshi movement lead to establishing of many private banks in Dakshina Kannada and Udupi district which were unified earlier and known by the name South Canara ( South Kanara ) district. Four nationalized banks started in this district and also a leading private sector bank. Hence undivided Dakshina Kannada district is known as "Cradle of Indian Banking".

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COMPANY PROFILE

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COMPANY PROFILE ICICI Bank is India's second-largest bank with total assets of Rs. 3,562.28 billion (US$ 77 billion) at December 31, 2009 and profit after tax Rs. 30.19 billion (US$ 648.8 million) for the nine months ended December 31, 2009. The Bank has a network of 1,675 branches and about 4,883 ATMs in India and presence in 18 countries. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialized subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management. The Bank currently has subsidiaries in the United Kingdom, Russia and Canada, branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre and representative offices in United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. Our UK subsidiary has established branches in Belgium and Germany.

ICICI Bank's equity shares are listed in India on Bombay Stock Exchange and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE). Corporate Profile ICICI Bank is India's second-largest bank with total assets of Rs. 3,562.28 billion (US$ 77 billion) as on December 31, 2009.

Board Members Mr. K. V. Kamath, Chairman Mr. Sridar Iyengar Mr. Homi R. Khusrokhan Mr. Lakshmi N. Mittal Mr. Narendra Murkumbi
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Dr. Anup K. Pujari Mr. Anupam Puri Mr. M.S. Ramachandran Mr. M.K. Sharma Mr. V. Sridar Prof. Marti G. Subrahmanyam Mr. V. Prem Watsa Ms. Chanda D. Kochhar, Managing Director & CEO Mr. Sandeep Bakhshi, Deputy Managing Director Mr. N. S. Kannan, Executive Director & CFO Mr. K. Ramkumar, Executive Director Mr. Sonjoy Chatterjee, Executive Director Mr. K. V. Kamath is a mechanical engineer and did his management studies from the Indian Institute of Management, Ahmedabad. He joined ICICI in 1971 and worked in the areas of project finance, leasing, resources and corporate planning. In 1988, he joined the Asian Development Bank and spent several years in south-east Asia before returning to ICICI as its Managing Director & CEO in 1996. He became Managing Director & CEO of ICICI Bank in 2002 following the merger of ICICI with ICICI Bank. Under his leadership, the ICICI Group transformed itself into a diversified, technology-driven financial services group that has leadership positions across banking, insurance and asset management in India, and an
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international presence. He retired as Managing Director & CEO in April 2009, and took up the position of non-executive Chairman of ICICI Bank effective May 1, 2009. He was the President of the Confederation of Indian Industry (CII) for 2008-09. He was awarded the Padma Bhushan by the President of India in May 2008. He was conferred the Lifetime Achievement Awards at the Financial Express Best Bank Awards 2008 and the NDTV Profit Business Leadership Awards 2008; was named 'Businessman of the Year' by Forbes Asia and The Economic Times' 'Business Leader of the Year' in 2007; Business Standard's "Banker of the Year" and CNBCTV18's "Outstanding Business Leader of the Year" in 2006; Business India's "Businessman of the Year" in 2005; and CNBC's "Asian Business Leader of the Year" in 2001. He has been conferred with an honorary PhD by the Banaras Hindu University. He is a member of the Board of the Institute of International Finance, a Director on the Board of Infosys Technologies and a member of the Board of Governors of the Indian Institute of Management, Ahmedabad. Awards: Retail

ICICIdirect.com, won the Outlook Money ' Best e- Brokerage Award' seventh time in a row. Previously, the firm won the award in 2004, 2005, 2007, 2008, 2009 and 2010.

ICICI Securities' Business Partners (Sub Broker channel) won the 'Franchisor of the Year 2011' for the third consecutive year.

Anup Bagchi, MD & CEO has been honoured with the Zee Business 'Industry Newsmaker Award 2010' for his tremendous and unmatched contribution in the field of Finance

Pankaj Pandey, Head- Research - ICICIdirect has won the Zee Business Best Market Analyst 2010 award in the Equities Fundamental Category

CMO Asia Awards for Excellence in Branding and Marketing 2010:

o o o

Brand Leadership Award (overall) 'Campaign of the Year' for the Trade Racer Campaign Brand Excellence in Banking and Financial Services for the store format

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Award for Brand Excellence in the Internet Business

Frost and Sullivan 2009 Award for Customer Service Leadership ICICIdirect, the neighborhood financial superstore won the prestigious Franchise India `Service Retailer of the Year 2008 award.

ICICIdirect has also won the CNBC AWAAZ 2007 Consumer Award for the Most Preferred Brand of Financial Advisory Services.

Best Broker - Web 18 Genius of the Web Awards 2007 Franchisor of the year award 2009 Retail concept of the year awards 2009

Institutional

Vikash Mantri tops The Wall Street Journal's Asia's Best Analysts survey in the media sector for 2010

ICICI Securities is awarded as the Best Investment Bank 2008 by Global Finance Magazine

The Corporate Finance group also was awarded a runner-up Best Merchant Banker by Outlook Money in 2007.

ICICI Securities (I-Sec) topped the Prime Database League Tables 2007 for money raised through IPOs/FPOs.

The equities team was adjudged the 'Best Indian Brokerage House-2003' by Asiamoney.

Technology

IDG India's CIO magazine has recognized ICICI Securities as a recipient of CIO 100 award in 2009, 2010 and 2011

ICICI Securities conferred the Gold CIO award jointly by CIOL and Dataquest at the Enterprise Awards 2010

Indian Bank's Association Business Technology Awards for Best Online Trading Platform in 2006 and 2007
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Special Category

Mr Charanjit Attra, Chief Financial Officer (CFO), ICICI Securities Ltd was conferred the 'CFO100 recognising the Winning Edge in 2010' award by CFO India. He won the award for the 'Winning Edge in Cost Management' category.

Legal The information provided on this site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject ICICI Securities Limited ( I-Sec ) or its affiliates to any new or additional registration requirement within such jurisdiction or country. Neither the information, nor any opinion contained in this site constitutes a solicitation or offer by I-Sec or its affiliates to buy or sell any securities, futures, options or other financial instruments or provide any investment advice or service. Disclaimer of Warranty and Limitation of Liability The information on this site is provided on "AS IS" basis. I-Sec does not warrant the accuracy of the information given herein, either expressly or impliedly, for any particular purpose and expressly disclaims any warranties of merchantability or suitability for any particular purpose. Although the information provided to you on this website is obtained or compiled from the sources we believe to be accurate, I-Sec does not guarantee the accuracy, completeness or validity of any information made available to you for any purpose. Neither I-Sec, nor any of its affiliates, directors, officers or employees, will be liable or have any responsibility of any kind for any loss or damage that you incur in the event of any failure or interruption of this site, or resulting from the act or omission of any other party involved in making this site or the data contained therein available to you, or from any other cause relating to your access to, inability to access, or use of the site or these materials, whether or not the circumstances giving rise to such cause may have been within the control of I-Sec or of any vendor providing software or services support. In no event will I-Sec be liable to you for any remote, special, direct, indirect, consequential, incidental damages or any other damages of any kind (regardless of the legal

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theory on which the claim is based) even if I-Sec or any other party have been informed of the possibility thereof. Copyright or Other Notices If you download any information or data or software from this website, you agree that you will not copy it or remove or obscure any copyright or other notices or legends contained in any such information. Use of Links Should you leave this site via a link contained herein, and view content that is not provided by ISec, you shall do so at your own risk. I-Sec makes no guarantees or representations as to, and shall have no liability for, any electronic content delivered by any third party, including, the appropriateness, subject matter, quality or timeliness of any content. Research The information contained in the Research Reports uploaded herein has been obtained from various sources; we do not guarantee its authenticity or validity or completeness. Neither any information nor any opinions expressed constitute an offer, or an invitation to make an offer, to buy or sell any securities or any derivative instruments related to such securities. Investors should take financial advice with respect to the suitability of investing their monies in any securities discussed or recommended in on this website and should understand that statements regarding future prospects may not materialize. Investors should note that each security's price or value may rise or fall and accordingly, investors may even receive the amounts, which are less than originally invested. Past performance is not necessarily a guide to future performance. Please carefully read the detailed disclosures given at the end of every research report. Contact: Customer care email :customercare@icicisecurities.com

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Compliance Officer Tel: +91-22-2288 2460 /70 email: complianceofficer@icicisecurities.com SEBI Registration details: NSE SEBI Registration Number Capital Market :- INB 230773037 | BSE SEBI Registration Number Capital Market :- INB 011286854 NSE SEBI Registration Number Derivatives :- INF 230773037 | NSE SEBI Registration Number Currency Derivatives :- INE 230773037 CICI Securities empowers over 2 million Indians to seamlessly access the capital market with ICICIdirect.com, an award winning and pioneering online broking platform. The platform not only offers convenient ways to invest in Equity, Derivatives, Currency Futures, Mutual Funds but also other services Fixed Deposits, Loans, Tax Services, New Pension Systems and Insurance are available. ICICIdirect.com offers a convenient and easy to use platform to invest in equity and various other financial products using its unique 3-in-1 account which integrates customer's saving, trading and demat accounts. Apart from convenience, ICICIdirect.com also offers access to comprehensive research information, stock picks and mutual fund recommendations among other offerings. Tailored services and trading strategies are available to different types of customers; long term investors, day traders, high-volume traders and derivatives traders to name some. ICICIdirect.com uses the most advanced commercially available 128-bit encryption technology enabled Secure Socket Layer (SSL), to ensure that the information transmitted between the client and ICICIdirect.com across the internet is safe and cannot be accessed by any third party. ICICIdirect.com is the first broker in India to introduce `Digitally Signed Contract Note' to its customers. As a result, the process of generating contract notes has been automated and the same would be instantly available to its customers in a safe and secure manner through the website.

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ICICI Securities has set-up neighbourhood financial stores which offer a variety of financial products and services under one roof. It is a one-stop shop that facilitates existing and potential customers to speak to our team and understand their financial plans and goals. ICICI Securities has 250 stores across 66 cities in India. Another unique concept called the ICICIdirect Money Kitchen, was launched in late 2009. An extension of the superstore model, the money kitchen is an innovative financial store where visitors can create their profiles to not only analyze their investment strategy by using various financial tools but also monitor it from time-to-time. To enable our customers to maximize their returns and plan for their future, ICICIdirect has also started financial planning services at these stores. Customized financial plans can be created for our customers by dedicated Relationship Managers who will understand the customer's requirements and future goals. Based on this information, the Relationship Manager works on creating a comprehensive and easy-to-read financial plan. This enables ICICIdirect to move from just a transactional based relationship to a meaningful and value-added long-term relationship with our customers. ICICIdirect?s services and offerings evolves according to the customer's ever changing requirements and goals. Customers can walk-in to the financial superstores for products like ICICIdirect 3-in-1 online trading account, equities, mutual funds, IPO, Life and General insurance, Fixed Deposits and many other financial products. The stores also conduct periodic training sessions on markets and demo sessions of the trading website ICICI Securities understands the need for insightful research to make the right investment decision. An independent equity research team provides strong and timely updates to ensure that customer can avail of market opportunities. The research team focuses on both large cap as well as small and mid-cap. Large cap companies provide an overview of industry environments, while small and mid-cap companies are chosen 'bottom-up', providing a unique perspective to a generally under-researched end of the market.
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The focus is on identifying companies, which we believe are likely to generate wealth for investors on a sustained basis through in-depth fundamental research. We cater to the entire gamut of investment and return horizon requirements of an investor through our flagship offerings like Detailed Company Report, Pick of the Week, Model Portfolio, Stock on the Move, Daily & Weekly derivatives, Intra-day calls, Daily, Weekly & Monthly Technicals with a regular update on the performance of our calls. The Active Trader Service is an innovative offering from ICICI Securities which is ideal for those who are truly 'born traders'. As a customer of the Active Trader Service, we assure you truly personalised service with a dedicated relationship manager assigned to your account. We have also set up a special research team who is focused on helping you achieve your targets .The research team has developed a robust set of research products to help you make informed investment decisions, depending on your risk profile, by analysing derivative market cues and other news as well as market and corporate information. Some of the research products which we offer are as follows : Positional Calls, Technical Picks, Momentum Picks, Roll Over Monitor, Open Interest Insight, Special Situation Arbitrage, Pair Calls. The Equity Advisory Group (EAG) is a team of advisors dedicated to providing customers personalised advisory services. It is aimed at maximising the customer's investment returns and keeping him updated on the stock markets and the economy. A Personal Equity Advisor will closely monitor the client's portfolio and keep him updated on the latest happenings in equity market with the help of our fundamental and technical research. EAG services are customised according to the client's risk appetite and investment horizon. A personal equity advisor, backed by our research team, provides the customer with timely advice on the stock market.

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The Wealth Management Group is a team of specialists who offer specific advisory services to meet both personal and business wealth requirements of HNIs.

The team creates customized strategies to meet Customer's investment goals of wealth accumulation, wealth preservation and liquidity. In addition to mutual funds, fixed deposits and other traditional products, we also offer alternate investment avenues of Private Equity, Structured / Customized products for investors with specific views on the markets and Portfolio Protection Strategies for large investors.

The attempt is to bring world class investment products to our customers through over 15 centres of ICICIdirect. ICICI Securities is the member of NSE & BSE and registered as Broker. It provides business opportunity to entrepreneurs by registering them as Sub-Brokers / Authorised Person. ICICI Securities provides trading terminals through which the Sub-broker can offer a range of financial products like Equities, Derivatives, Currency Derivatives, IPO, MF, Bonds, Fixed Deposits etc. Another way to get associated with ICICI Securities, As an Independent financial Advisor and gain access to a wide range of financial products like MF, IPOs, Bonds, Corporate Fixed Deposits. One can also be associated as an Investment Advisor to sell a range of financial products like IPO, Bonds, Fixed Deposits, etc. to their set of customers. In addition, they cal also sell asset products like Home Loans, Education Loans, etc. to the customers. ICICI Securities facilitates access to capital for the growth engine of the Indian economy which is the corporate sector including large, medium and small enterprises; both from the public and private markets. ICICI Securities' engagements include Equity Capital Markets, Private Equity Intermediation and Public Issuance of Debt.

A team of professionals, which is organized by sector helps clients assess their business models
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and advises them on specific financing alternatives. The company's advice is based on the specific circumstances and strategic considerations relevant to the client. ICICI Securities is a SEBI registered Category I Merchant Banker Key Recent Deals In FY2010, ICICI Securities has helped companies raise ~ US$ 1.86 billion through QIPs and IPOs. (Source: Prime Database). Some of the recent transactions for FY2010 and FY 2011 include: IPOs

Jaypee Infratech: In 2010, Book Running Lead Manager, Rs. 22.6 bn A2Z Maintenance & Engineering Services: In 2010, Book Running Lead Manager, Rs. 8.6 bn

Punjab & Sind Bank: In 2010, Book Running Lead Manager, Rs. 4.7 bn Nitesh Estates: In 2010, Book Running Lead Manager, Rs. 4.1 bn Shree Ganesh Jewellery House:: In 2010, Book Running Lead Manager, Rs. 3.7 bn Claris Life Sciences : In 2010, Book Running Lead Manager, Rs. 3 bn Parabolic Drugs: In 2010, Book Running Lead Manager, Rs. 2 bn Commercial Engineers & Body Builders Co: In 2010, Book Running Lead Manager, Rs. 1.7 bn

Adani Power: In 2009, Book Running Lead Manager, Rs. 30.2 bn JSW Energy: In 2009, Book Running Lead Manager to the IPO of Rs. 27 bn Godrej Properties: In 2009, Book Running Lead Manager, Rs 4.7 bn

Indian Depository Receipts (IDRs)

Standard Chartered: In 2010, Syndicate Member ? first-ever issuance of an IDR, Rs. 24.8 bn

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FPOs

NTPC: In 2010, Book Running Lead Manager, Rs 84.8 bn Power Grid Corp. Of India: In 2010, Book Running Lead Manager, Rs 74.4 bn Rural Electrification Corporation: In 2010, Book Running Lead Manager, Rs 35.3 bn Shipping Corporation Of India: In 2010, Book Running Lead Manager, Rs 11.6 bn Engineers India: In 2010, Book Running Lead Manager, Rs 9.6 bn

Public Issue of Debt

Shriram Transport Finance Company: In 2010 & 2009 , Lead Manager, Rs 15 bn L &T Infrastructure Finance Company: In 2010, Lead Manager, Rs 2.6 bn

QIPs

Adani Enterprises: In 2010, Book Running Lead Manager, Rs. 40 bn GMR Infrastructure: In 2010, Lead Manager, Rs. 14 bn Lanco Infratech: In 2009, Book Running Lead Manager, Rs. 7.3 bn Alok Industries : In 2010, Book Running Lead Manager, Rs. 4.2 bn Network18 Media & Investments: In 2009, Book Running Lead Manager, Rs. 2 bn 3I Infotech: In 2010, Book Running Lead Manager, Rs. 1.8 bn Texmaco: In 2009, Sole Book Running Lead Manager, Rs. 1.7 bn Adhunik Metaliks: In 2009, Book Running Lead Manager, Rs. 1.4 bn

Rights Issues

Adani Enterprise: In 2010, Lead Manager, Rs. 14.8 bn IBN18 Broadcast: In 2010, Sole Lead Manager, Rs. 5.1 bn Television Eighteen India: In 2009, Lead Manager, Rs. 5.04 bn Infomedia18 : In 2009, Lead Manager, Rs. 1 bn Open Offer Fame India : In 2010, Sole Manager to the Offer, Rs. 1.8 bn Zenotech Laboratories : In 2010, Sole Manager to the Offer, Rs. 1.1 bn OCL Iron & Steel : In 2009, Sole Manager to the Offer, Rs. 0.56 bn

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Delisting

Sulzer India : In 2010, Sole Manager, Rs. 0.81 bn Lotte India Corp: In 2009, Sole Manager, Rs. 0.4 bn Avery India : In 2009, Sole Manager, Rs. 0.29 bn

Landmark Transactions

Tata Motors: First Rights Issue of shares with Differential Voting Rights Tata Capital: First public issue of secured Non Convertible Debentures (NCD) Daiichi Sankyo Co: Sole Managers to the one of the largest open offers of Rs 68.2 bn Bharti Airtel: First 100% Book-Built IPO in India HP: First delisting transaction in Indian markets using the Reverse Book-building mechanism

Punjab National Bank: Initiated the Book Building mechanism for Public Sector Banks NTPC: First FPO under alternate book building (French Auction) route Network 18 : First Rights Issue done on the basis of Partly Convertible Cumulative Preference Shares with a three in one structure

Television Eighteen : First IPO of a News Channel Maruti Suzuki: First Government Of India Divestment through IPO Sify: Sponsored ADR of an unlisted Indian company Man Industries (India): The first Indian offering on the Dubai Financial Exchange to tap liquidity in the Middle East

Infoedge India (Naukri.com): First IPO of a pure-play Internet Company in India

ICICI Securities assists global institutional investors to make the right decisions through insightful research coverage and a client focused Sales and Dealing team. A dedicated and specialized research team ensures flow of well thought-out and well-researched stock ideas and portfolio strategies.

The Sales and Dealing team has demonstrated strong sales and execution capabilities of
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actionable ideas to clients which have resulted in good relationships across geographies.

ICICI Securities enjoys the first mover and market leader advantage in the derivatives segment and offers the entire spectrum, from set-up to trading strategy.

The equity group leverages research and distribution reach to domestic and foreign institutional investors in case of public offerings. The research team tracks over 15 key sectors of the Indian economy and publishes in-depth research reports every year. The equity group acts as a bridge for institutional investors and corporate clients with the markets.

ICICI Securities is the first domestic Investment Bank to organize theme based conferences in New York, Shanghai, Singapore & Hong Kong.

ICICI Foundation for Inclusive Growth (ICICI Foundation) was founded by the ICICI Group in early 2008 to give focus to its efforts to promote inclusive growth amongst low-income Indian households. We believe our fundamental challenge is to create a just society one where everyone has equal opportunity to develop and grow. Towards this end, ICICI Foundation is committed to making Indias economic growth more inclusive, allowing every individual to participate in and benefit from the growth process.

We hold a set of core beliefs and values that defines our pathway towards inclusive growth and guides our five strategic partnerships.

Vision

Our vision is a world free of poverty in which every individual has the freedom and power to create and sustain a just society in which to live.

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Mission

Our mission is to create and support strong independent organizations which work towards empowering the poor to participate in and benefit from the Indian growth process. As a key partner in India's economic growth for more than five decades, the ICICI Group endeavors to promote growth in all sectors of the nations economy. To give focus to its efforts to promote inclusive growth amongst low-income Indian households, the ICICI Group founded ICICI Foundation for Inclusive Growth in January 2008. The foundations of ICICI Groups approach towards human and social development were established with the Social Initiatives Group (SIG), a non-profit resource group within ICICI Bank, in 2000. ICICI Foundation for Inclusive Growth (ICICI Foundation) has been set up as a public charitable trust registered at Chennai vides registration of the Trust Deed with the Sub-Registrars Office at Chennai on January 04, 2008.

The application for registration of the Foundation under section 12AA of the Income tax Act, 1961 (the Act) was filed on February 7, 2008 and the application under section 80G of the Act was filed on February 14, 2008. Subsequently, ICICI Foundation was registered as a PUBLIC CHARITABLE TRUST under Section 12AA of the Act with effect from February 7, 2008. Further, ICICI Foundation received approval under Section 80G(5)(vi) of the Act on March 19, 2008. This approval is valid in respect of donation received by ICICI Foundation from February 14, 2008 to March 31, 2009. Accordingly, ICICI Bank and Group Companies will be eligible to get a deduction under section 80G on donations made during this period.

ICICI Foundation has also obtained its Permanent Account Number (PAN) and Tax deduction Account Number (TAN).

Funds Flow 2008-2009

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ICICI Foundation received Rs.617.80 million from the following sources as grants: (January 4, 2008 to March 31, 2009) (spanning two financial years) Source (January 4, 2008 March 31, 2009) ICICI Bank ICICI Prudential Life Insurance ICICI Lombard General Insurance ICICI Securities ICICI Securities PD ICICI Home Finance ICICI Venture Total Amount (Rs. million) 500.00 67.72 17.12 14.98 6.99 1.99 9.00 617.80

ICICI Foundation also incurred total expenses of Rs.1.25 million during this period and had a fund balance of Rs.61.55 million as on March 31, 2009. Disbursements (January 4, 2008 to March 31, 2009) Grant Beneficiaries (January 4, 2008 March 31, 2009) ICICI Foundation Programmes ICICI Centre for Child Health and Nutrition 150.00 Amount (Rs. million)

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IFMR Finance Foundation Environmentally Sustainable Finance CSO Partners CARE (Policy Unit) Strategy and Advisory Group ICICI Group Corporate Social Responsibility Programmes Read to Lead MITRA (ICICI Fellows Programme) CARE (Disaster Management Unit) Rang De Total

200.00 20.00 50.00 5.00 20.00

25.00 55.00 5.00 25.00 555.00

Grant Beneficiaries for 2008-2009

ICICI Foundation Programmes ICICI Centre for Child Health and Nutrition (ICCHN) The grant of Rs.150.00 million was provided to ICCHN by way of corpus support and for pursuing various projects consistent with its mission.

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IFMR Finance Foundation (IFF) The grant of Rs.200.00 million was provided to IFMR Finance Foundation by way of corpus support and for pursuing various projects consistent with its mission. Environmentally Sustainable Finance (ESF) The grant of Rs.20.00 million was provided to ESF for their collaboration work with Rural Energy Network Enterprise (RENE) on sustainable energy and environment projects benefiting remote rural end users. The proposed projects will promote developing tools and driving innovation to scale rural energy access for remote rural users. CSO Partners The grant of Rs.50.00 million was provided to CSO Partners by way of corpus support and for pursuing various projects consistent with its mission. CARE (Policy Unit) A grant of Rs.5.00 million was provided to CARE, an Indian NGO that is closely affiliated with CARE (USA), to create a policy unit in Delhi. Learning from CAREs work in India and worldwide as well as from the work of ICICI Foundation and its partners, the unit will serve as a platform to engage the government and policymakers in an effort to bring about required policy changes in areas such as maternal and child health. Strategy and Advisory Group (SAG) Charitable foundations in India and world-wide struggle to fully develop the strategy formulation, knowledge management and impact assessment dimensions of their work. A grant of Rs.20.00 million was provided to Strategy and Advisory Group (SAG), a team at Centre for Development Finance that provides strategic advisory services to clients in the development sector, to develop these functions and to offer their expertise to foundations in general, including ICICI Foundation. ICICI Group Corporate Social Responsibility Programmes Read to lead is an initiative of ICICI Bank to facilitate elementary education for disadvantaged children in the age group of 6-13 years. An amount of Rs.25.00 million has thus far been

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disbursed to 100,000 children through 30 NGOs. The balance amount of Rs.75.00 million is planned to be disbursed during the period 2009-2010. MITRA (ICICI Fellows Programme) MITRA is an affiliate of CSO Partners that is focused on addressing the challenge of human resources for civil society organisations (CSOs). In partnership with CSO Partners and MITRA, ICICI Foundation proposes to launch an ICICI Fellows Programme. An amount of Rs.55.00 million has been disbursed to MITRA for developing and launching the programme over the period 2009-2010. CARE (Disaster Management Unit) A grant of Rs.5.00 million has been given to CARE in India to enable it to prepare for any future disasters that may strike and respond immediately with the required relief efforts. Rang De (Micro Enterprise Development) Rang De, an affiliate of CSO Partners, has partnered with ICICI Venture to roll out funds for micro enterprise development in rural and semi-urban locations. The amount of Rs.25.00 million that has been disbursed to them will support micro enterprises to the extent of Rs.15.00 million and the balance amount of Rs.10.00 million will go towards meeting their expenses to build the platform.

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CHAPTER-III LITERATURE REVIEW

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Harry S. Truman said Actions are the seed of fate deeds grow into destiny , similarly the tasks performed by an employee gets billed as a salary which an organization pay through the payroll system. This is processed every month towards the last week to disburse the salaries. The process includes managing large number of data generated through the attendance and other inclusions. This process entails payouts post the standard deductions and reimbursements. This system includes certain common functionality which includes the areas as discussed below :

New employee inclusion: When a new employee joins an organization Inputs including salary details, reimbursements, statutory deductions, benefit enrollment and many such information are filled in the ERP System from which the payroll data are collected. This information is provided gets stored in the ERP system which is connected to the company database.

Tax declaration form: The tax gets deduced as per the government guidelines. Hence, an internal tax declaration form is filled and provided by the employee supported with the documents to suffice for tax rebates. These include rent agreement, to claim the HRA , investment in Saving Schemes offering tax saving, Home loans etc. Different accounting cycles may have its own time to consider this. Such as, in certain organization, the tax declaration is taken in the beginning of the employment and rebates are offered. At the end of the accounting year the supporting documents such as Medical bills would be required to validate the information provided by the employee at the beginning of the financial year. If those documents are not provided by the employee , yearly tax deduction would be made.

Attendance data This datum is collected from the attendance system. If, there are any gap in the data, it requires to be cross checked with the reporting leaders, to avoid errors. Late comings and early leaving are two areas which are calculated. These deductions are to be made as a part of penalty. Prolonged vacation and sabbaticals are verified as the employee may have left the organization. Off site deputation may have a separate process for calculating the attendance. Here the report might be drawn from the clients feedback and system of data collection from the clients site. Maternity or any other medical leaves

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are calculated as reported on pro rated basis. Incase they were approved by the leader, the leave balance would be allocated avoiding any deduction in the salary . Incase the leave balances have refurbished, the deduction in the salary may be reconsidered on the approval of the leader.

Reimbursement for late working: Certain business situation may entail high work volume or even a high priority task to be delivered at a short notice. These situations may require employees to work beyond their normal working hours. Legal standards direct on how the extra hours should be designed. Hence, any additional pay to be made along with any reimbursement for working late and providing additional support requires to be included in the payroll sheet.

Other Reimbursements- These are paid on submission of bills with the approval of the reporting manager or the decision making authority. It includes maintenance areas such as Car, mobile phone, etc. The eligibility to such a reimbursement is defined in the policy. The calculation remains to the grid as defined in the policy. Such as a manager may be eligible for a petrol reimburse of Rs. 5000 a month where as a Senior Manager or a Assistance Vice-President may be eligible for Rs.11000 or more. The total amount would be paid if the supporting bills are provided to the accounts team processing payroll. If it is not provided, there might be a tax deduction on them.

Other Benefit payment Every role would include certain benefits such as car , accommodation, fees for first two children depending on the grade and level. Every employee may not have this privilege. It is offered at a senior level which would require the employee to submit the bills to be reimbursed as tax free amount. The scope of error lies in miscalculations of data from the bills and excess taxing . Any submission of bills make the amount non-taxable to the employee. Yet it may get taxed by error.

Shift allowances - This is offered to the employees who have been working in different shifts other than the normal working hours. The working hour policy defines the time line and eligibility to such payouts. The confirmation to this payout comes from the

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reporting managers. The scope for errors lies in receiving and providing the data accurately in the payroll sheet.

Pay for performance This is performance incentives are disbursed for the achieving the targets as agreed in the scorecard. The pay on performance grades are announced . The reporting managers provide this input to the payroll generating team.

Insurance intimation for new employees Organization offer different insurance including mediclaim and accident insurance. These requires to be started when a new employee joins the company. These programs are reinstated every financial year for the employees in the payroll of the company. The monthly payroll includes this datum as it is a payout that may not reflect in the salary slip. Yet few companies allow the employees to avail extra coverage on a payment made by the employee over and above what is made by the employer. On such an event , the deduction is made from the salary every month for that employee.

Stop payment Organization have a policy to initiate a stop payment for the employee who resigns and would be leaving the company. As defined in the exit policy , the notice period starts from the day an employee resigns. It may be for a month or more than that upto three months. The stop payment is initiated on the last month , where the employee would not receive the salary at the end of the month but with the full and final settlement. Ideally this helps to calculate the clearance as there might be dues to be cleared by the employee . The stop payment initiation is made by the HR team , where an email including a request to stop the payment of the employee is send to the accounts department who would process payroll. Generally HR Team initiates this when the reporting manager of an employee mails the resignation acceptance by the employee.

Full and final settlement : When an employee leaves an organization, the process of clearance includes calculating all the number of holidays that are not availed . These required to be reimbursed calculating it from the basic salary for those days. The salaries of the months that were freezed as a result of resignation, any bonus to be paid and every other payment to be made at the time of separation.

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Deductions: Statutory requirements share a guideline on how the deduction should be made from the salary. The Any deduction due to a loan or loss of pay

The complexity of this process increase with the volume it manages and processes it follows. The scope of error lies in miscalculation, duplication, missing the due dates resulting in incorrect disbursement. If this process is outsourced to vendors, its important to check if the vendor would have the bandwidth to align with the changing organizational structures or business model. If there are series of mergers and acquisitions are planned by the organization , the vendor should be able to accommodate it. Few of the performance Indicators to the payroll process have been shared below:

How timely has it been process -The payment needs to be rolled out timely every month without any non-adherence to the service level agreement. The salaries have an indelible effect on the employees. Any delay would affect the morale. Hence , organizations follow stringent rules to ensure the payment is made on time.

How accurately the data was provided The data provided to the payroll sheet after the assimilation and final calculation remains the final input for the payouts. Incase these inputs are made inaccurately, it causes a massive impact in the salary disbursed. Any inaccurate salary disbursement is taken as non-adherence to the policy . The inaccuracy may range from incorrect data for employee ids to reimbursement. The corrections can be made during the next months payroll but requires a lot of validation creating unnecessary hassles and bottlenecks.

How many re-runs in between the process - The re-runs for the payroll system increases the cost to run it. This impacts the business spending hence lowers the ROI on this system.

Time within which the data need to be provided- If the data required to run the payroll gets delayed , it creates a bottleneck for the final calculation. This is often mitigated by

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keeping the deadline way ahead of the payroll time. The cost incurred for this error, needs to be calculated on the time taken by the supervisor who was responsible for the input. Finally this process may not appear to be a month long just as other ongoing processes are. Yet there are areas of this process which keeps working even when the payroll is not been run. The errors and risks to this process can be well mitigated and countered when identified ahead of time. This process remains a vital as the employees who are most valuable assets to any company gets paid through it. Just as John Maynard Keynes noted that The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelop our future.

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In a company, payroll is the sum of all financial records of salaries for an employee, wages, bonuses and deductions. In accounting, payroll refers to the amount paid to employees for services they provided during a certain period of time. Payroll plays a major role in a company for several reasons. From an accounting point of view, payroll is crucial because payroll and payroll taxes considerably affect the net income of most companies and they are subject to laws and regulations (e.g. in the U.S. payroll is subject to federal and state regulations). From ethics in business viewpoint payroll is a critical department as employees are responsive to payroll errors and irregularities: good employee morale requires payroll to be paid timely and accurately. The primary mission of the payroll department is to ensure that all employees are paid accurately and timely with the correct withholdings and deductions, and to ensure the withholdings and deductions are remitted in a timely manner. This includes salary payments, tax withholdings, and deductions from a paycheck.

Pay Check
A Pay Check is traditionally a paper document issued by an employer to pay an employee for services rendered. In recent times, the physical paycheck has been increasingly replaced by electronic direct deposit to bank accounts. Such employees may still receive a complete pay slip (see below) package, but the attached check is noted as non-negotiable. In most countries with a developed wire transfer system, using a physical check for paying wages and salaries has been uncommon for the past several decades. However, vocabulary referring to the figurative "pay cheque" does exist in some languages, like German (Gehaltsscheck), partially due to the influence of popular media, but this commonly refers to a payslip or stub rather than an actual cheque. Some company payrolls have eliminated both the paper cheque and stub, in which case an electronic image of the stub is available on an Internet website.

Payroll taxes
Government agencies at various levels require employers to withhold income taxes from employees' wages.

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In the United States, "payroll taxes" are separate from income taxes, although they are levied on employers in proportion to salary; the programs they fund include Social Security, and Medicare. U.S. income and payroll taxes collected through deductions are considered to be trust fund taxes, because the employer holds the deducted money in trust for later remittance.

Payroll Taxes in U.S.

Before considering the payroll taxes we need to talk about the Basic Formula for the Net Pay. Basically from gross pay is subtracted one or more deductions to arrive at the Net Pay. In fact Employee's gross pay (pay rate times number of hours worked, including any over time) minus payroll tax deductions, minus voluntary payroll deductions, is equal to Net Pay. As you can see payroll tax deductions play a critical role and just because they are provided by law we can call them Statutory payroll tax deductions. The employer must withhold payroll taxes from an employee's check and hand them over to several tax agencies by law. Payroll taxes include: 1. Federal income tax withholding, based on withholding tables in "Publication 15, Employer's Tax Guide" by Internal Revenue Service - IRS; 2. Social Security tax withholding. The employee pays 6.2 percent of the salary or wage, up to 106,800. The employer also pays 6.2 percent in Social Security taxes. If you are selfemployed, you pay the combined employee and employer amount of 12.4 percent in Social Security taxes on your net earnings; 3. Medicare tax. The employee pays 1.45 percent in Medicare taxes on the entire salary or wage. The employer also pays 1.45 percent in Medicare taxes. If you are self-employed, you pay the combined employee and employer amount of 2.9 percent in Medicare taxes on your net earnings; 4. State income tax withholding; 5. various local tax withholding, such as city taxes, county taxes, school taxes, state disability, and unemployment insurance. As for the sources considered as references we can mention the following publications:

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Publication 15, (Circular E), Employer's Tax Guide. This publication explains employer's tax responsibilities. It explains the requirements for withholding, depositing, reporting, paying, and correcting employment taxes. It explains the forms any employer must give to its employees, those employees must give to the employer, and those employer must send to the IRS and SSA (Social Security Administration). This guide also has tax tables needed to figure the taxes to withhold from each employee;

Publication 15-A, Employers Supplemental Tax Guide. This publication supplements Publication 15 (Circular E), Employers Tax Guide. It contains specialized and detailed employment tax information supplementing the basic information provided in Publication 15 (Circular E);

Publication 15-B. Employer's Tax Guide to Fringe Benefits. This publication supplements Publication 15 (Circular E), Employers Tax Guide, and Publication 15-A, Employers Supplemental Tax Guide. This publication contains information about the employment tax treatment of various types of noncash compensation.

In the earlier part we have considered payroll taxes related to employee's side. Now it's the moment to talk about the Employer Payroll Taxes Employers are responsible for paying their portion of payroll taxes. These payroll taxes are an expense over and above the expense of an employee's gross pay. The employer-portion of payroll taxes include the following: 1. Social Security taxes (6.2% up to the annual maximum); 2. Medicare taxes (1.45% of wages); 3. Federal unemployment taxes (FUTA); 4. State unemployment taxes (SUTA). Very often you can hear people using FICA in their terminology. FICA stands for the Federal Insurance Contributions Act and the FICA tax consists of both Social Security and Medicare taxes. As we explained earlier both parties pay half of these taxes. Employees pay half, and employers pay the other half. Social Security and Medicare taxes are paid both by the employees and the employers. In summary together both halves of the FICA taxes add up to 15.3 percent.

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Any employer is responsible for paying the employer's share of payroll taxes, for depositing tax withheld from the employees' paychecks, preparing various reconciliation reports, accounting for the payroll expense through their financial reporting, and filing payroll tax returns. As you see this suite of employer payroll tax responsibilities is far above issuing paychecks to employees.

Pay slip

A pay stub, paystub, pay slip, pay advice, or sometimes paycheck stub, is a document an employee receives either as a notice that the direct deposit transaction has gone through, or as part of their paycheck. It will typically detail the gross income and all taxes and any other deductions such as retirement plan contributions, insurances, garnishments, or charitable contributions taken out of the gross amount to arrive at the final net amount of the pay, also including the year to date totals in some circumstances. Pay slips are labor analogs of remittance advice letters (which are used for invoices) they state "you have been paid X amount (paycheck) for Y services (hours worked)". Most of the provinces and territories in Canada allow employers to issue electronic payslips, if the employees have confidential access to it and are able to take a print out.
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Payroll card
For employees that, for one reason or another, do not have access to a bank account (bad check history, not in close proximity to bank, etc.), there is a solution, offered by most major Payroll Service Providers. Instead of an employee receiving a check, and paying up to 5-10% to cash the check, the employee can have the direct deposit loaded onto a debit card. In this, a company can save money on printing checks, not buy the expensive check stock, and not having to worry about check fraud, due to a check being lost or stolen. A payroll card is a plastic card allowing an employee to access their pay by using a debit card. A payroll card can be more convenient than using a check cashier, because it can be used at participating automatic teller machines to withdraw cash, or in retail environments to make purchases. Some payroll cards are cheaper than payday loans available from retail check cashing stores, but others are not. Most payroll cards will charge a fee if used at an ATM more than once per pay period. The payroll card account may be held as a single account in the employer's name. In that case, the account holds the payroll funds for all employees using the payroll card system. Some payroll card programs establish a separate account for each employee, but others do not. Many payroll cards are individually owned dda (demand deposit accounts) that are owned by the employee. These cards are more flexible, allowing the employee to use the card for paying bills, and the accounts are portable. Most payroll card accounts are FDIC-insured, but some are not.

Payroll Frequencies
Companies typically generate their payrolls on regular intervals, for the benefit of regular income to their employees. The regularity of the intervals, though, varies from company to company, and sometimes between job grades within a given company. Common payroll frequencies include: daily, weekly, bi-weekly (once every two weeks), semi-monthly (twice per month), and to somewhat of a lesser extent, monthly. Less common payroll frequencies include: 4-weekly (13 times per year), bi-monthly (once every two months), quarterly (once every 13 weeks), semiannually (twice per year), and annually.

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Warrants
Payroll warrants look like checks and clear through the banking system like checks, but are not drawn against cleared funds in a deposit account. Instead they are drawn against "available funds" that are not in a bank account, so the issuer can collect interest on the float. In the US, warrants are issued by government entities such as the military and state and county governments. Warrants are issued for payroll to individuals and for accounts payable to vendors. Technically a warrant is not payable on demand and may not be negotiable.[5] Deposited warrants are routed to a collecting bank which processes them as collection items like maturing treasury bills and presents the warrants to the government entity's Treasury Department for payment each business day. In the UK, warrants are issued as payment by the NS&I when a Premium Bond is chosen.

Payroll Outsourcing
Businesses may decide to outsource their payroll functions to an outsourcing service like a Payroll service bureau or a fully managed payroll service. These can normally reduce the costs involved in having payroll trained employees in-house as well as the costs of systems and software needed to process a payroll. In many countries, business payrolls are complicated in that taxes must be filed consistently and accurately to applicable regulatory agencies. Restaurant payrolls which typically include tip calculations, deductions, garnishments and other variables, can be difficult to manage especially for new or small business owners. In the UK, payroll bureaus will deal with all HM Revenue & Customs inquiries and deal with employee's queries. Payroll bureaus also produce reports for the businesses' account department and payslips for the employees and can also make the payments to the employees if required. Another reason many businesses outsource is because of the ever increasing complexity of payroll legislation. Annual changes in tax codes, Pay as you earn (PAYE) and National Insurance bands as well as statutory payments and deductions having to go through the payroll often mean there is a lot to keep abreast of in order to maintain compliance with the current legislation.
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Payrolling
Payrolling is the business practice of referring a contingent worker to a staffing vendor or payrolling provider so that they are the employer of record responsible for employer taxes, payroll, and all legal matters pertaining to employing workers. Different from sourcing (or recruiting) where the staffing vendor uses internal recruiters to locate contractors on behalf of the requesting company or client, payrolled workers are identified by the client. Often payrolled workers are known to the client from previous engagements or as former employees. Because the costs of recruiting workers in to contract positions are eliminated the payrollees are often processed at reduced mark up rates. In the last several years, some dedicated payrolling companies have emerged in the staffing industry to provide payrolling services. In the US they are known as Professional Employee Organizations or PEO's. They charge the cost of the employee payroll and add a surchage for their services.

Monthly Assignments
Payroll

Preparation of salary sheet for the company for Staff (salary sheet shall be prepared as per the cost centers and locations provided by the company).

Preparation of monthly pay slips and delivery in separate envelops for each employee. (Internal distribution of the envelops shall be the responsibility of the Company.

While preparing the monthly salary consider - TDS on salary, PF and loan installments.

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Preparation of the Bank Transfer advice and monthly accounting and reconciliation of the bank account from where salary shall be disbursed.

Preparation of challan of monthly TDS amount. The deposit & collection of the TDS challan from the bank will be the responsibility of the Company.

Provide monthly-consolidated amounts of salary in appropriate accounts heads for accounting.

Provident Fund

Preparation of the statement of Provident Fund dues. Transfer of provident fund money to the RPFC. Assistance to the Company, during inspection by the PF authorities. Preparation of challan of monthly PF amount and filing of monthly returns.

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Reimbursements

Verification of claims as per the guidelines issued by the company and checking taxability as per the income.

Statement of monthly reimbursements as per the instruction given by the management. Maintenance of records of such reimbursements for each employee and entitlement thereof.

Payment of reimbursements on monthly basis.

Annual Assignments

Computation of estimated Taxable income based on the information provided by the company and update before year-end for final deduction of tax.

Preparation of TDS certificates for employees on annual basis as required under Income Tax Rules.

Preparation of TDS returns and filing the same with Tax department. Computation of annual bonus as per the instructions given by the management.
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Prepare and provide information of salary for Directors report as required u/s 217 of the companies Act 1956 Provident Fund preparation and filing of annual return in form 3A and 6A.

TIBS focuses on providing payroll services in a manner that enhances the efficiency of the payroll process (by way of quality and timeliness of output) in our client organizations. As a payroll service provider TIBS offers end-to-end services including the following.

Salary structuring Payroll processing, including handling statutory calculations Statutory remittances (Income tax, PF, ESI etc.) Statutory form filings (Income tax, PF, ESI etc.) MIS reporting Payment advice creation and salary disbursal Conducting tax camps to educate employees on provisions available for tax rebates Tax declaration verification Payroll claims processing including bills verification
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Bank reconciliation is the process matching and comparing figures from accounting records against those presented on a bank statement. Easy Account has skilled accountants to provide bank reconciliation services such as personal bank reconciliation, business bank reconciliation, and payroll bank reconciliation. Our professionals do bank reconciliation entries and generates bank reconciliation reports which avail our clients to get competitive advantage. Reconciling your bank account is a costly and time consuming task that no business organization can afford to neglect. Because most companies write hundreds of checks each month and make many deposits, reconciling the amounts on the company's books with the amounts on the bank statement can be complicated and time consuming. There are chances for a difference in the balance on the bank statement vs. the balance in the cash account on the company's books. It is

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also possible that neither balance is the true balance. In certain cases both balances may need adjustment in order to report the true amount of cash. Our bookkeepers and accountants will use their skills and knowledge ensuring that the clients bank statement is consistent with the amounts in the company's cash account in its general ledger and vice versa. A variety of transactions such as outstanding checks, deposits in transit, bank charges/service charges, NSF checks, interest earned, and receipts from customers will be scrutinized by our professionals. Our professionals are experts in diagnosing errors in the company's cash account, as well as in the bank statement. Bank reconciliation process we follow

Adjusting the Balance per Bank Adjusting the Balance per Books Comparing the Adjusted Balances Preparing Journal Entries

Take maximum advantage of EasyAccount Indias cost efficient and time saving service levels to meet all your bookkeeping and accounting business needs.

Payroll Processing With Personal Service

Managing payroll of a business is not an easy task for even the most precise and experienced human resources professionals. For many businesses, especially small businesses, payroll services offer an attractive and valuable alternative to in-house processing. Outsourcing the responsibility to service providers like EasyAccount will be a wise option for those who wish to break free from the hassles and headaches of maintaining their payroll. We can provide a time saving, cost effective, and simpler means of paying employees, filing taxes, meeting HR management needs, and performing other payroll processing tasks.

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EasyAccount India helps global prospects to find effective solutions for a range of their typical payroll processing tasks including but not limited to:

Calculating paycheck and tax obligations for each employee Printing and delivering checks Tax filing Web based payroll data entry Automatic check signatures Direct deposit

Taxation Services - Manage Your Tax Obligations

Avoiding tax troubles is of utmost priority for any business owner. Complying with all sorts of regulatory tax requirements is a daunting task that needs professional advice and support. EasyAccount, renowned for its capability in delivering fast and accurate taxation services for sensibly managing your tax obligations. Our taxation services include

Income Tax Preparation Payroll Tax Preparation TDS Return Preparation Service Tax Preparation

We offer consultancy, calculation, and retrun preparation services to help you take control of your taxes. Our service can be utilized by any individual or organization, ranging from small business owners to corporate groups, that falls under the purview of tax obligations.

Data Entry Service

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In the modern business world many companies require timely data and information to take strategic and important decisions. To get this data they outsource data entry services to offshore data entry companies as they are more cost effective, experts at the job and can provide results which can help them to evaluate the data correctly and take the relevant decisions. The number of offshore data services providers has increased exponentially over the past couple of years however there are not many companies that can offer good services and accurate results. The experienced team working at EasyAccount a professional data entry offshore company has the desired caliber and expertise to make data entry an easy and convenient task. We ensure offshore data entry works to your satisfaction, as we understand that the success of your business lies on accurate data and fast information at any given point. Choosing EasyAccount as your offshore data entry company will provide you with a lot of value add in the business you do and will ensure that you get the desired results to make your business decision move in the right direction. As a leading data entry offshore company we concentrate on core processes to ensure data entry works the way you want it to be. We specialize in all fields of data entry, data conversion and data processing and ensure unique customized solutions for all your data services needs.

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To make your data entry projects a successful proposition we offer the following data entry services:

Online and offline data entry Form and field entry Image entry Entry for various legal documents Entry for insurance claims Entry done hand written

EasyAccount a dedicated offshore data services company has the potential to take care of all your data entry requirements in the most professional manner ensuring reasonable costs. We use the latest technologies for a variety of data entry tasks like data capturing, data mining and data extraction. This also helps us in automating a wide range of operations thus ensuring high quality deliverables, low costs and increase in work efficiency at all times.

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Payroll Services
RGBSI is a leading provider of Payrolling services and benefits Administration for contract workforce. Our process, Program Management and customer service expertise enables our clients to focus on their core business. The Contract workforce may include Independent Contractors, 1099s, W-2 employees, retirees, summer interns, etc. Since these workers become employees of RGBSI, you eliminate paperwork, benefits, payroll and related tax issues and minimize co-employment risks. RGBSI's Payroll and Human Resource Management brings necessary services for you to leverage some of the employee compliance including, but not limited to:

Weekly / Bi-Weekly Payroll Processing Employee in- and out-processing Managing compensation and classification administration Benefits processing Time Sheet and leave processing Payroll taxes (FICA, FUTA, SUTA), unemployment, disability, and workers' compensation taxes and employee claims, all handled by RGBSI

Drug & Background Checks

Benefits of RGBSI PAYROLL Services:

Reduce labor Procurement life cycle Competitive Mark-Ups and Flexible business models Reduced overhead and paperwork Complete Payroll Tax Administration Offers comprehensive General liability and workers compensation insurance policies Provides weekly / bi-weekly payroll processing for all employees and offers direct deposit by electronic payroll system

Employee Online Self Service System

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Error Free Transactions using direct online interface for Time Sheet management to provide accuracy

Consolidate all payroll transaction under one platform Funds held in "Vendor in Trust" account Payroll module can be used to standardize the way a company handles the calculation and processing of its employee's payroll. Payroll module calculates and tracks employee salaries, wages, bonuses, tax withholdings, and deductions. It prints employee paychecks, provides reports to better manage employee pay records, and generates complete weekly, monthly, quarterly, and annual reports. Essentially, payroll module can help to streamline the entire process, making the task of processing payroll less time-consuming and cumbersome.

Companies have different pay rates and commission schemes for each employee. So if one's payroll system is something like this, manual payroll preparation can be quite complex. In such cases it is advisable to use payroll module, as it make things easier and reduce the chances of human errors. Once you have defined the compensation package of the employee's in the organization hierarchy, the system automatically takes the figures for the payroll.

Easy PAY - Payroll Management Software

Easy PAY is very easy, flexible and user-friendly Payroll Management software that takes care of all your requirements relating to accounting and management of employees Payroll. This versatile, user friendly, package, offers user defined Earning / Deduction / Loan Heads & Calculation Formulae / Tables. The package generates all the outputs & statutory reports required by a Payroll application.

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Highlights:

User Defined Earnings & Deductions Leave & Attendance Management Loan & Advance Management Payroll Processing Salary Reports (Payslip & Salary Sheet) Bank Transfer Reimbursement Management Arrears Calculation Other Payments PF Calculation & Reports ESIS Calculation & Reports Professional Tax Income Tax Management Full & Final Settlement User Defined Reports Reporting Datta Import (Masters, Salary & Leave Record) HR Functions Other Add on Modules User Rights

Key Feature Details:

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Flexible Structure building capability of Earnings & Deductions

Flexibility to add or modify any number of Salary Components - Earnings & Deductions

User Defined Entry Field with unmatched flexibility for Formula, percentage or Customized Calculation

Taxable & Non Taxable Earnings for Income Tax Calculations Payslip / Non Payslip Component Calculation based on Attendance Monthly or Yearly Payments Also compute various other components that do not appear in Payslip

Leave & Attendance Management

Leave Rules can be defined Increment of Leave on Pro-rata basis Carry forward facility for balance leave Encashment of Leave Leave Utilizes & Balances can be checked CL, PL, SL, Compensatory & Customizable Leaves Automatic Leave payout on termination of Employees (in Full & Final Settlement) Swipe card / Attendance machine if any can be linked to our software Attendance Arrears Monthly Attendance Register & Yearly Attendance Summary

Loan & Advance Management

User Definable Loans/Advances (Multiple) Loan Disbursement option with EMI option Automatic recovery of EMI & stops automatically once the Loan amount is totally recovered

Auto calculation of Interest on Loans based on Flat Interest, Reducing Balance Lumsum recovery of Loan
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Interest free Loan Perquisites as per Income Tax Loan Recovered, Loan Balances & Loans History Employee wise

Payroll Processing

Input information for all newly joined employees and resign left employees Create a new payroll month & Process Salary Over-ride facility for any Salary components Salary on Hold & Freezing of Salary in case of Termination of Employees Process by Exception - you only need to enter Pay and/or deduction information when there are changes

Pro-rata calculations for employees based on Absenteeism Process & Print Payslips for groups or for selected employees Lock month facility to avoid changes in Processed Data

Salary Reports (Payslip & Salary Sheet)

Automatically calculates all the income, deductions & Company Contributions as per the requirement

Regular Payslips (with Logo) can be viewed or Emailed Reimbursement Payslips can be viewed or Emailed User defined Salary Sheets can be viewed Generates Cash / Cheque / Bank Transfer List Generate Bank Statement, Direct Electronic Bank transfer files & Covering Letter for Banks

YTD salary Sheet & Summary of each employee Separate Payslips can be generated for Arrears, Medical, Reimbursement & LT

Bank Transfer

Bank Transfer Statement facility available for all the banks Soft copy format also available in Excel or any format specified by different banks Bank Transfer Statements can be generated for both Regular, Reimbursement Payments & Supplementary Payments
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Covering Letters Cheque / Bank Transfer / Cash List

Reimbursement Management

Multiple Reimbursement Components like Medical , LTA & Customizable Reimbursement Components Upper limits can be specified Employee wise or Grade wise Annual Limits or Monthly Accruals Opening Balance, Entitlement, Amount Reimbursed and Balance amount can be checked

Reimbursement Payslips, Bank transfer statement for Reimbursement Component

Arrears Calculation

Arrears calculation for any previous period / Retrospective effect Separate Payslips can be generated for the Arrears Components Bank transfer statement for Arrears Component

Other Payments

Arrears Calculations Gratuity, Bonus & Exgratia Calculation Reimbursement - Medical, LTA or any other user definable reimbursement Supplementary Payments Monthly Reconciliation - allow us to compare the changes in the pay components from last month to this month or for any number of months

PF Calculation & Reports

User defined PF Rate of Deduction for Employer & Employee Employee & Employer Contribution Automatic Bifurcation of EPF & EPS PF applicability check at Employee Level Options to Limit Maximum Salary for PF Deduction
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Form 5, 10, 12A, 3A, 6A, Challan & Reconciliation Statement

ESIS Calculation & Reports

User defined ESIC Rate of Deduction for Employer & Employee ESIC applicability check at Employee Level ESIC Register, Form 5, 6 & Challan

Professional Tax

User definable State wise Slab PT applicability check at Employee Level Form III & Challan

Income Tax Management

Auto calculations of Exemptions & Deductions and compute income tax payable for the entire year & the tax to be paid this month

Auto calculation of TDS based on Projections Income Tax Projections with the options to deduct projected tds from Monthly Salary Prints Form 16, 16AA, 12BA & Challan 281 Quarterly e-TDS Return as per the NSDL format Income Tax Projections can be emailed in PDF format

Full & Final Settlement

Employees Full & Final settlement can be prepared based on resignation of employees either in the current month or in the previous month

Automatically calculates outstanding Loan balances, Notice pay and Leave Encashment , Gratuity and recovers all Loan balances and Income Tax.

Generates Full & Final Settlement Calculation sheet for all the calculations done

User Defined Reports

User Defined Reports with the option to choose from the available field, user can
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define his own customized columnar reports

Sorting, Grouping, Sub-total, Grand-total & Conditions can be defined

Reporting

Output reports to screen, printer, MS Word & Excel Option to preview Payslips / Salary Sheets or any other reports on screen before final printing

Print Transaction & Master History for any period Generating report is made easy with an advanced filter function to select the relevant employees or groups for the report

Prints any of our report for the previous periods.

Data Import (Masters, Salary & Leave Record)

Employee & Payroll Data if available in Excel can Imported to our software

HR Functions

Personal Details Qualification , Work Experience, Earning Members, Dependent, Hobbies, Achievements, Checklist & Attachments Trainings, Commitment & Targets, Discipline & Appraisal

Various Reminders

User Rights

Users can be created User Level Rights can be created and managed

Other Add on Modules

Integration of Payroll Software with Tally Cheque Printing Module

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CHAPTER-IV DATA ANALYSIS & INTERPRETATION

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1.

Your organization provides opportunity for growth and security.

OPTIONS Strongly agree Agree Disagree Strongly disagree

NO OF RESPONSES 46 50 04 0

50 40 30 20
disagree Strongly agree Agree

10
Strongly disagree

0 NO OF RESPONSES
Interpretation:

The survey revealed that most of the employees strongly agree that the ICICI provides opportunity for growth and security and some are disagree about this.

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2.

Pay and compensation package is adequate and fair in comparison to performance.

OPTIONS Strongly agree Agree Neutral Strongly disagree

NO OF RESPONSES 18 52 18 12

60 50
Strongly agree

40 30 20 10 0
Agree Neutral Strongly disagree

NO OF RESPONSES
Interpretation: The survey revealed that most of the employees agree for the reason of their pay and compensation package is adequate and fair in comparison to performance and some are disagree.

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3.

Medical facilities provided by the organization suites your health needs?

OPTIONS Strongly agree Agree disagree Strongly disagree

NO OF RESPONSES 38 46 14 0

50 40 30 20
disagree

Strongly agree
Agree

10
Strongly disagree

0 NO OF RESPONSES
Interpretation: The survey revealed that most of the employees agree and strongly agree for the reason of the medical facilities provided by the organization which suits their health needs, and few are disagree.

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4.

Your job allows you to use your skills and abilities.

OPTIONS Strongly agree Agree Disagree Strongly Disagree

NO OF RESPONSES 22 62 12 0

70 60 50
Strongly agree

40
30

Agree
Disagree

20 10 0 NO OF RESPONSES
Interpretation: The survey revealed that most of the employees agree and strongly agree for using their skills and abilities in their job.

Strongly Disagree

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5.

Promotion policy of your organization ensures planned carrier growth.

OPTIONS Yes No Cant say

NO OF RESPONSES 42 40 18

45 40 35 30 25 20 15 10
yes No Cant say

5
0

Interpretation: The survey revealed that most of the employees are satisfied the promotion policy by the organization which ensures planed career growth. But most of the employees are un-satisfied by this policy.

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6. Is time worked by non salaried staff adequately recorded and authorized?

OPTIONS Yes No Cant say NO OF RESPONSES 78 12 10

80 70 60 50 40
yes No Cant say

30
20 10 0

Interpretation: The survey revealed that most of the employees are that there is a time worked by non salaried staff adequately recorded and authorized by the organization which ensures planed career growth.

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7.

Is leave and absence through sickness properly controlled?

OPTIONS Yes No

NO OF RESPONSES 93 7

NO OF RESPONSES
100 80 60 40 20 0 Yes No NO OF RESPONSES

Interpretation: The survey revealed that most of the employees are saying that absence through sickness properly controlled by the organization.

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8. Is the original pay rate authorized in writing and subsequent amendments properly approved?
OPTIONS Yes No NO OF RESPONSES 95 5

NO OF RESPONSES
120 100 80 60 40 20 0 Yes No NO OF RESPONSES

Interpretation: The survey revealed that most of the employees are saying that the original pay rate authorized in writing and subsequent amendments properly approved by the organization.

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9. Is there a periodic check by independent staff, comparing the payroll and personnel records?
OPTIONS Yes No NO OF RESPONSES 99 1

NO OF RESPONSES
120 100 80 60 40 20 0 Yes No NO OF RESPONSES

Interpretation: The survey revealed that most of the employees are saying that there a periodic check by independent staff, comparing the payroll and personnel records properly approved by the organization.

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10.Are the number of employees, amounts paid, and allowances and deductions, reconciled from one
period to the next?

OPTIONS Yes No Cant Say

NO OF RESPONSES 89 5 7

NO OF RESPONSES
100 90 80 70 60 50 40 30 20 10 0 Yes No Cant Say

NO OF RESPONSES

Interpretation: The survey revealed that most of the employees are saying that there are the number of employees, amounts paid, and allowances and deductions, reconciled from one period to the next, properly approved by the organization.

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11.Do procedures ensure staff leaving the company is cancelled from the payroll?
OPTIONS Yes No NO OF RESPONSES 100 0

NO OF RESPONSES
120 100 80 60 40 20 0 Yes No NO OF RESPONSES

Interpretation: The survey revealed that most of the employees are saying that there is procedures ensure staff leaving the company is cancelled from the payroll, properly approved by the organization.

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12.Do terms and conditions comply with local labor laws?

OPTIONS Yes No

NO OF RESPONSES 100 0

NO OF RESPONSES
120 100 80 60 40 20 0 Yes No NO OF RESPONSES

Interpretation: The survey revealed that most of the employees are saying that terms and conditions comply with local labor laws only properly approved by the organization.

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13.Are there adequate controls over staff advances?

OPTIONS Yes No NO OF RESPONSES 60 40

NO OF RESPONSES
60 50 40 30 20 10 0 Yes No NO OF RESPONSES

Interpretation: The survey revealed that most of the employees are saying there adequate controls over staff advances the organization is 60 % .and remains 40% says that is no controlled in it.

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14.Is the calculation of a sample of employees net pay periodically checked?

OPTIONS Yes No

NO OF RESPONSES 60 40

NO OF RESPONSES
60 50 40 30 20 10 0 Yes No NO OF RESPONSES

Interpretation: The survey revealed that most of the employees are saying there is a calculation of a sample of employees net pay periodically checked, and approved by the organization.

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CHAPTER-V
FINDINGS CONCLUSION SUGGESTIONS BIBLIOGRAPHY QUESTIONNAIRE

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FINDINGS
1. Those responsible for approving time worked are independent of those responsible for payroll preparation, determining cheque payments and the preparation and distribution of pay.

2.

Those responsible for maintaining personnel records are independent of those responsible for preparing the payroll.

3. Those responsible for payroll preparation are independent of those responsible for the preparation and distribution of pay, particularly where casual labor is employed or where there is no separate and independent personnel department .

4. Those responsible for maintaining personnel records or originating entries on the personnel records are independent of those responsible for preparing pay packets or distributing pay.

5. Those responsible for payroll preparation should be independent of those authorizing cheque payments, authorize bank transfers, etc.

6. Those responsible for distributing pay should be independent of those determining cheque payments.

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CONCLUSION

The global business environment is buzzing with the single most important issue of Building a competitive edge by creating and retaining a large number of Employees than their goods and services every organization is therefore seized of the task of establishing sustaining its worth to the customer, who has been rendered unpredictable by competition Therefore every business is making a continuous effort for achieving Employees effort for achieving Employees loyalty

In short it is total organizational culture and brand equity, which face challenge. So that there is a perennial struggle amongst organizations to sustain their existence in the market place, and hence in order to sustain the stiff competition the company has to take up market Research frequently to know the changing needs & preference of the Employees.

This helps the company to reframe the policies in providing cutting edge technology to satisfy the Employees & retain him for a life time.

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SUGGESTIONS

To improve the comfortless of Employees. Skilled and experienced persons should be provided at service center, so that problems of the Employees should be resolved completely. It is suggested that some more Benefits should be provided for Employees. To provide better service to Employees at work shop. To make the Organization more spacious inside for development of Employees. To increase the place of R&D at work shop.

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BIBLIOGRAPHY

HUMAN RESOURCE MANAGEMENT

P. SUBBA RAO

PERSONNEL / HUMAN RESOURCE MANAGEMENT

STEPHEN ROBBINS

HUMAN RESOURCE MANAGEMENT AN INFORMATION SYSTEMS APPROACH

WAYNE F CASCIO

Searchingene:- Google

Websites:- www.icici.com www.hrindia.com www.parollsystemindia.com www.quwstionsurvey.com

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QUESTIONNAIRE

Name: Age: Department: Designation: Please tick the appropriate 1. Your organization provides opportunity for growth and security ? (a) Strongly agree (c) Disagree 2. (b) Agree (d) Strongly disagree

Pay and compensation package is adequate and fair in comparison to performance ? (a) Strongly agree (c) Neutral (b) Agree (d) Disagree (e) Strong disagree.

3.

Medical facilities provided by the organization suits your health needs? (a) Strongly agree (c) Disagree (b) Agree (d) Strongly disagree

4.

Your job allows you to use your abilities? (a) Strongly agree (c) Disagree (b) Agree (d) strongly disagree

5.

Promotion policy of your organization ensures planned carrier growth? (a)Yes (b) No (c) Cant say

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6.

Is time worked by non salaried staff adequately recorded and authorized? (a)Yes (b) No Is leave and absence through sickness properly controlled? (a)Yes (b) No

7.

8.

Is time worked by non salaried staff adequately recorded and authorized? (a)Yes (b) No Is leave and absence through sickness properly controlled? (a)Yes (b) No

9.

10. Is the original pay rate authorized in writing and subsequent amendments properly approved? (a)Yes (b) No 11. Is there a periodic check by independent staff, comparing the payroll and personnel records? (a)Yes (b) No 12. Are the number of employees, amounts paid, and allowances and deductions, reconciled from one period to the next? (a)Yes (b) No 13. Do procedures ensure staff leaving the company is cancelled from the payroll? (a)Yes (b) No

14. Do terms and conditions comply with local labor laws? (a)Yes

(b) No

15. Are there adequate controls over staff advances? (a)Yes

(b) No

16. Is the calculation of a sample of employees net pay periodically checked? (a)Yes (b) No

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