A PROJECT REPORT ON A STUDY OF WAGE AND SALARY ADMINISTRATION AND FRINGE BENEFIT FACILITIES UNDERTAKEN AT KLIPCO PRIVATE LIMITED,

, (KLCPL) SUBMITTED TO: IN PARTIAL FULFILLMENT FOR DEGREE COURSE OF BACHOLOR OF BUSINESS ADMINISTRATION (BBA) PREPARED BY: KHUSHBOO VERMA BBA (SEM-VI) UNDER GUIDANCE: MONIKA SONI

Specialization- HR
BATCH (2011-2012)
GRADUATE CENTRE.

AFFILIATED TO VEER NARMAD SOUTH GUJARAT UNIVERSITY, SURAT,

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DECLARATION
I undersigned Ms. KHUSHBOO B VERMA a student of BBA VI semester, LAXMI INSTITUTE OF COMMERCE SARIGAM,VEER NARMAD SOUTH GUJARAT UNIVERSITY admit that this project report with KLIPCO PRIVATE LIMITED. is the result of my study which carried out during 22 nd December to 2ndMarch, 2012 and has not been previously submitted to any other university for any other examination and for any other purpose by any other Person.

Your faithfully.

KhushbooVerma

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ACKNOWLEDGEMENT

This successful project report has been made possible through the direct and indirect cooperation and guidance of various people for whom i wish to express my appreciation and gratitude. I am thankful to our coordinatorMr. Vijay rajput distinguished professor of laxmi institute of commerce for giving me the opportunity to work on this project. It was a great learning experience for me and i could actually put in practice, the learning acquired in the class. I am thankful to the following persons who have provided me their costly and valuable time for preparing my project report. I am thankful to them for trusting on me and giving me an opportunity to do something better formy bright future. Mr. S.N.Joshi ( ceo ) , Mr. Manoj S.Joshi (Director) , Mr. Praveen Sharma (Director-technical) and also very much thankful to Mrs. Monika soni (faculty of laxmi institute of commerce.) . I am beholden to my family members for their blessing and encouragement.

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EXECUTIVE SUMMARY
This project is an attempt to know how the theories can be applied to practical situation. As the student of BBA it is a part of study for everyone to undergo winter project at same organization .So for this purpose ,I got this opportunity to do project. In the first part of project report ,the general information and the overview of the KLIPCO PRIVATE LIMITED has been presented. This information is being collected through the primary as well as secondary data source. I had done ma project At KLIPCO PRIVATE LTD VAPI during the month of December the topic of my research study is Wage & salary Administration WAGE AND SALARY ADMINISTRATION refers to the establishment and implementation of sound policies of employee compensation. Top management decides the wage rate for workers in different categories and salary for the employees according to their designation comes under HR department. It is also affect by the attendance report, leave taken through the month and other factors if leave is more than the permitted norms.

TABLE OF CONTENT
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Sr.no 1 2

Content Executive summary Company profile 2.1 Introduction to company 2.2 Company Overview 2.3 Company History 2.4 Company Infrastructure 2.5 Mission and Vision of Company

Page no

2.6 Product Profile 2.7 Awards and Certificate& SWOT Analysis 2.8 Quality Policy of a Company. HRM 3.1 HR 3, 2 Qualities of HR Manager. 3.3 Organization Chart.

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6 7 8 9 10

Review of literature Project study 5.1 Background of study 5.2 Objectives of study 5.3 Utility of study Research methodology Data analysis and interpretation Findings and recommendations Bibliography Annexure

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COMPANY PROFILE
Firm Name Address Klipco private limited. Plot No.53, G.I.D.C. Vapi 396 195 (Gujarat) 8684221/8682257/ 8684801/8686804.

Tel. No

Fax No. Service Network The data of Establishment Employee No. Financial Capital Group sales Bankers

022-8688348 Delhi /Calcutta /madras. 30th August 1960 395 persons (vapi) Total estate : 47500 SQ. FT. Rs. 1.98 Million Exceeds Rs. 100.00 million State bank of India.

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BOARD OF DIRECTORS

Mr. S. N. Joshi (CEO) Mr. Manoj S. Joshi (Director- Com) Mr. Praveen S. Sharma (Director -Tec)

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Company Overview
Established in the year 1960, Klipco Pvt. Ltd., A Manufacturer has a range of products. Products are made from CR Mild Steel, Carbon steel, alloy steel and stainless steel materials to meet as per customers requirements. All these years Klipco adhered and laid stress on Quality products only i.e. TQM and could build world class quality products exceeding the requirements stipulated in different Clamps specifications. Klipco is a certified Co. for TQM under ISO: 9001:2008 and ISO/TS: 16949:2009. Klipco Worm Drive Clamps are tested as early as 1965 and approved by National Test House. ISI mark was obtained in the year 1984/85. From 1966 meeting OEM requirements particularly of Automotive, Tractors, Defense, Engineering, Chemicals, Oil fields etc, and general home and export markets. KLIPCO PVT. LTD. manufactures and supplies products as per Designs / Specifications given by customer or as per published National / International standards. There is no Design and Development activity carried out by us as regards products. The specifications received from Customers are directly transferable as an input to Manufacturing activity. Manufacturing process is designed by us based on these inputs. In view of the nature of product / service provided by organization and the requirements and expectations of our customers, product design and development process is not applicable. Also it is confirmed that it does not affect KLIPCO PVT. LTD. of its ability to provide product / service that meets customer and regulatory requirements

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KLIPCO PVT. LTD., Vapi / Silvassa incorporated in the year 1960 for manufacturing of Hose clamps under the brand name of KLIPCO. The company has devoted its attention exclusively to the production of various types of Hose

clamps and has contributed significantly to the fulfillment ofdemands of various industries by supplying uniform quality of Hose clamps. Hose clamps are used in various industries and applications like Automobiles, Machines, plants, engines, earth moving equipment, Railways, equipments for Defense organizations etc. These are manufactured as per IS, BS, and DIN standards. Best quality hose clamps prevent leakage of fluids, air, oils or gases from the hoses & hence prevent accidents or failures of certain critical parts in the applications where they are used. The manufacturing facilities are located at two places viz. Vapi&Silvassa. At both the locations the constructed area is around 24,000 Sq Ft to accommodate all the manufacturing processes from slitting of raw material strips through plating, assembly & final packing, storage & dispatch. At location 1 (Vapi), the manufacturing capacity is average 110,000 hose clamps per day, whereas at location 2 (Silvassa), it is 45,000 per day in 12 hours. It is needless to mention that they have adequate capacity & potential to manufacture & supply as per varying demands of our esteemed customers.

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Following are some of the varieties of Hose clamps manufactured by us: 1. 2. 3. 4. 5. 6. 7. Mild steel worm drive type Stainless steel worm drive type Light duty type Heavy duty ( T- Bolt ) type Boot band clamp type Constant Pressure clamp type P Type clamps

They also make Bracket Type Clamps, which are required by some of their customers. Hose clamps are manufactured on semi automatic machines with rigid quality control at every production stage. The company has developed latest production facilities, enlarging its scope for supplying wide range of Hose clamps of sizes from (7.8 mm) to (3.0Mtr) in diameters & in various grades of materials. The companys continuous development and research efforts on production process techniques make it possible to fulfill the need of conformity to requirements products and we have devoted our attention continuously for improvement in the products and processes. The company has reached a unique stage where it is in a position to contribute immensely for the production and supply of latest quality Hose clamps and related parts in India and abroad. We are proud to be associated with Indias almost all auto majors for quite some time. Our proven quality, capability & service has helped us maintain the relationship & helped us grow hand in hand with our customers. Thus our products find place on every latest models introduced by our customers.

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COMPANY HISTORY
Year 1960 Description Established as klip corporation with 400 sq area started manufacturing activity with 200 hose clamps per day. Constructed kandivli plant with 2250 sq ft. area and production capacity was 4000 hose clamps per day. Area expanded by 2250 sq.ft. Production reached up to 8000 per day. Klipco worm driver hose clamps got tested and approved by national test house, alipore Calcutta grade M/MISC/68/436/lm date 31.07.1965. Started silvassa plant with 4000 sq. ft. area and production capacity was 12000 worm drive hose clamps. Changed to joint stock Co klipCopvt ltd. Established service network at Delhi , Calcutta & madras Got trade mark registration. Added 4400 sq.ft. Area capacity at 53 GIDC vapi. Purchased 5000 yards. Plot (60) at GIDC vapi, constructed 14000 sq.ft area and production reaches up to 70000 nos per day. 5400 sq. yards shed built up at silvassa. Total built up area has gone up to 47500 sq. ft area Started developing Quality control systems based on ISO. Started implementing ISO 9002 system based on computer added CAD/CAM design and development. With addition of OEM parties the production has increased on an average 80000 hose clips per day on eight hour shift basis with installed

1962

1963 1965

1968

1975

1980 1990

1991 1996

1997

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2000

2001 2002 2004

2005

2010

2011

capacity for manufacturing 120000 hose clamps a day. Production base expanded with development of ss worm drive, T-Bolt, SLTB& V-Band clamps, SLWD&CTC. Total Quality Management (TQM) & ISO9001 and Quality Assurance system adopted. Klipco become a certified unit of iso/ts 16949 2002. With the surge in demand,rcc 11000 sq.ft at 53,GIDC vapi and 4000 sq.ft at silvassa is added. Installed capacity of 250000 units a day, achieved daily production exceeding 160000 units with total built up area 75400 sq. ft out of acres of land of the company, at Mumbai, GIDC and silvassa. At silvassa, plot 5 with 1000 sq.ft of land with 3300 sq.ft added to make exclusively to TB clamps and Heat Treatment production. Klipco thus develop adequate area, machine, tools, power, human-resource with modern technology and in-house capacity to meet the growing demand of automotive and industrial sectors.

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Mission of a company Aiming High:

We should be one of the largest hose clamps manufacturing Companies in the Country. Our growth in size will be through continuous review of potentials of the existing manufacturing resources, strategic acquisitions and expansions

Quality Quest:
Product quality, consistency and customer service will be pursued as an act of faith throughout the organization.

Pursuit Of Excellence:
The growing size of our business permits us to have an R & D set up of our own. We shall continuously challenge methods, systems, operating parameters. We shall constantly review our manufacturing systems to upgrade quality and value of products.

Value Addition:
To ensure customer satisfaction by providing world class products and services.

Vision of the company

Democratize the automobile - to become the world's leading Company for automotive products.

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Customers of klipco private limited:

Tata engineering & Locomotive Co. Ltd., Pune, Jamshedpur & Lucknow Ashok Leyland Mahindra & Mahindra Ltd. Bajaj Auto Ltd. Force Motors Ltd. VarocEngg. Pvt. Ltd. TVS Suzuki Piaggio Indian Railways (Escorts Ltd. Railway Product) Defense Establishments like Ordnance Factories, Jabalpur TAFE Motors

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Quality policy

We are committed to make KLIPCO PVT. LTD. Growth oriented manufacturers and suppliers of quality Hose clamps and other related parts for various applications, to achieve total Customer Satisfaction. This shall be achieved and sustained through complying with the requirements of Quality Management System, ensuring continual improvements in its effectiveness, knowledge updates, human resources, service provisions and profitability while remaining cost effective and competitive.

01/01/03

S N JOSHI Chief Executive Officer

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Staff situation.

Section Executive Managers Quality controls Production supervision Production staff Sales net work Total persons.

Person 4 3 10 12 350 16 395

Staff Situation
16 4 3 10 12 Executive Managers Quality Controls Production Supervision Production Staff 350 Sales Network

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Product profile Mild steel worm drive type

Mild steel clamps have been universally regarded as the most versatile and cost effective clamping solution. Available in a wide range, it eliminates hose abrasion and damage under the clamp. It increases hose life unlike wire clamp which penetrates the hose. High clamping pressure with low tightening torque provides ease of operation. They are available in zinc plating which improves its resistance to corrosion.

Heavy duty (T- Bolt) type

Our range of t-bolt clamps is widely used in engineering and Automotive industry. We customize our t-bolt clamps according to our clients requirement. These are available in various widths, thickness, materials, and surface finishing. These t-bolt clamps are attached with a circular arc which can be adjusted accordingly

Stainless steel worm drive type

Stainless steel worm drive hose clamps offers the best practical solution for chemical, food and marine industry. It also has a wide application in the automobile and engineering industry .Practical designing using advanced tooling makes them stronger than conventional clamps. stainless steel worm drive hose clamps are perfectly

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engineered to provide non throbbing surface on the which safeguards the hosefrom damages. This clamp is available both in Stainless Steel 300 and 200 series.

V-band clamp.
Hold V-shaped flanges together. A form of fastener alternative for connecting pipes, tubes, air, gas, liquid etc. Lines. Ensure universal radial force, dispensing with heavy Weight nut-bolt flanges. V-band clamps with single/double Nutsaresimple, flexible&tough, leak proof &corrosion resistant.

Standard Warm drive

Warm drives are generally use at automotive, trucks Tractors, wheelers Aircrafts, space & satellites. It also Used in atomic plants air conditioning engineering Machine tools &welding laboratories marine navy & defense railways & motors etc

Spring loaded constant torque.

klipco torque clamps have a constant tightening pressure, Gives a complete 360 seal during hot & cold cycle and prevent leakages.

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P clamps
P clamps A 25 Ib minimum tension is recommended for tubes where no movement is required and 10 Ibmaximum tension where movement is desired. The position of the clamps relative to the tube must be 90o. Proper selection of clamps for the job is vital for a dependable installation. A loose clamps will permit abrasion and often cause clamp Breakage or even tube fitting problem.

Pipe clips
Clips are supplied as shown in the sketches simple and quick to assemble vibration damping property due to eccentric clamping.

Constant Pressure clamp type

We use qualitative raw materials to manufacture wide assortment of constant pressure clamps that are recognized for their durability and strength. Designed and manufactured as per the norms of ISO, DIN, IS, JIS standards, our CPC's are appreciated for their ability to withstand high pressure.

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Finally the drives are used as follows:

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Awards and certificate

Quality control award (2002).

Quality service Award (1990)

Quality service Award (1994)

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[Strength, weakness, opportunity, threat] STRENGTH:1. Wide Distribution Network. 2. Strong Manpower Strength. 3. Leading Producer of Hose clamps 4. Good Customer Relation. 5. Strategic Location. 6. Good profit margin. 7. Heavy demand of Product. 8. Good Team Work

WEAKNESS:1. The demand of product is directly affected by the demand of Automobile industries. (Major Share of Customers)

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Opportunity:1. Expanding Capacity. (Without investment) 2. Diversifying Product Profile. 3. Automation of Process 4. Qualified Technical / Trained Manpower with Capabilities to manage the Company.

Threats:1. High dependency on Manpower 2. Poor working environment. 3. High variations of Raw Material Cost

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HUMAN RESOURCE MANAGEMENT.

HRM is also called as the personnel management. It is that part of management which is concerned with the employer and employee relationship. HRM is useful individual organizational and social objectives are accomplished. The quality and quantity of labor, skill, education, training, and discipline play a very important role in process of Industrialization. An organization is a human grouping in which work is done for the accomplishment of same goals or mission. The management of HR is very complicated and challenging task for these who are entrusted with successful running of an organization and this implies considerable. Knowledge of various aspect of HRM including that of physiology, sociology, industrial law etc. "HRM is the Planning, organizing, directing and controlling of the procurement, development, compensation, integration, maintenance and separation of HR to the end that individual organization and social objectives are accomplished." HRM is a management function concerned hiring, motivating and maintaining people in the organization. It focuses on people in the organization. The primary objective of the HRM is to ensure the availability of the competent and willing work force to an organization. HRM is not a stand alone department, but rather it means to assist the organization with its primary objective. Where as HRD is a function more concerned with training and development, career planning and development and organization development.

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Therefore, HRD is a part of HRM.

Recruitment and selection

AIMS AND OBJECTIVES OF HRM

Smooth, Efficient, Adequate and independent functioning of Personnel & HRD Dept. Awareness and acquaintance with day to day Personnel & HRD functions in klipco private limited. Creation of congenial working environment/atmosphere leading to employees satisfaction, motivation, development & feeling of belongings among the employees. Visualization and implementation of Personnel & HRD systems/Procedures and Legal/Statutory Compliance with the respective Govt./Semi Govt./ Local Authorities under various Labour Laws and Social/Welfare Scheme Achievement of goals and mission through collective efforts/team work in the overall interest/growth of the employees as well as the klipco private limited Groups.

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Salary Administration:
Salary of employee depends upon the performance in work and experience. There is only time wage systems for skilled, semi-skilled, and unskilled workers. The existing salary structure is applicable to the various category of employees and it includes basic salary, Bonus ,Allowance, Provident fund.

Promotion:
Promotion will be given on the basis of their performance appraisal. Promotion will be finalized well in time and be implemented effective 1st January of each calendar year. All the recommendation for the promotion will be endorsed by the respective department head and be finally approved by the management. The factors uses for promotion are output, co-operation, initiative and willingness to accept responsibility. Generally the bases of promotion are merit and seniority but it can be changed according to the situation.

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QUALITIES OF HR MANAGERS:The HR managers must have some qualities like keep sense of social justice. 1. He should know problem solving techniques. 2. He has varied knowledge. 3. He has a thorough understanding of Human. 4. He is able to guide employees when there is any Problem. 5. The manager is a good leader 6. The manager should possess organizational skills to motivate the workers and most of qualities are in HR manager of klipco limited.

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ORGANIZATIONAL CHART

S.N. JOSHI (CEO) (CEO)

MR

CR

DH (COM)

DH (MFG)
SILVASSA

DH (MFG)
VAPI

DH (QAD)

ASST MR

ASST (COM)

SH (MFG)

SH (MFG)

SH (QAD)
VAPI / SILVASSA

SUP
VAPI / SILVASA

INSPECTOR
VAPI / SILVASSA

OP

In charge (STR)

* CEO / DH (COM) / ASST (COM) sit in Mumbai office * DH (COM) is in-charge in absence of CEO and vice versa

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PROJECT TOPIC: WAGES AND SALARY ADMINISTRATION. COMPENSATION Compensation "If you pick the right people and give them the opportunity to spread their wings - and put compensation and rewards as a carrier behind it - you almost don't have to manage them." -Jack Welch Compensation (Meaning)
Compensation is a systematic approach to providing monetary value to employees in exchange for work performed. Compensation may achieve several purposes assisting in recruitment, job performance, and job satisfaction.

How is compensation used?

Compensation is a tool used by management for a variety of purposes to further the existence of the company. Compensation may be adjusted according the business needs, goals, and available resources.

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Compensation may be used to:

Recruit and retain qualified employees. Increase or maintain morale/satisfaction. Reward and encourage peak performance. Achieve internal and external equity. Reduce turnover and encourage company loyalty. Modify (through negotiations) practices of unions.

Recruitment and retention of qualified employees is a common goal shared by many employers. To some extent, the availability and cost of qualified applicants for open positions is determined by market factors beyond the control of the employer. While an employer may set compensation levels for new hires and advertise those salary ranges, it does so in the context of other employers seeking to hire from the same applicant pool. Morale and job satisfaction are affected by compensation. Often there is a balance (equity) that must be reached between the monetary values, the employer is willing to pay and the sentiments of worth felt be the employee. In an attempt to save money, employers may freeze salaries or salary levels at the expense of satisfaction and morale. Conversely, an employer wishing to reduce employee turnover may seek to increase salaries and salary levels.

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Compensation may also be used as a reward for exceptional job performance. Examples of such plans include: bonuses, commissions, stock, and profit sharing, gain sharing.

What are the components of a compensation system?

Compensation will be perceived by employees as fair if based on systematic components. Various compensation systems have developed to determine the value of positions. These systems utilize many similar components including job descriptions, salary ranges/structures, and written procedures. The components of a compensation system include:

Job DescriptionsA critical component of both compensation and selection

systems, job descriptions define in writing the responsibilities, requirements, functions, duties, location, environment, conditions, and other aspects of jobs. Descriptions may be developed for jobs individually or for entire job families.

Job AnalysisThe process of analyzing jobs from which job descriptions are
developed. Job analysis techniques include the use of interviews, questionnaires, and observation.

Job EvaluationA system for comparing jobs for the purpose of

determining appropriate compensation levels for individual jobs or job

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elements. There are four main techniques: Ranking, Classification, Factor Comparison, and Point Method.

Pay StructuresUseful for standardizing compensation practices. Most pay

structures include several grades with each grade containing a minimum salary/wage and either step increments or grade range. Step increments are common with union positions where the pay for each job is pre-determined through collective bargaining.

Salary SurveysCollections of salary and market data. May include average

salaries, inflation indicators, cost of living indicators, salary budget averages. Companies may purchase results of surveys conducted by survey vendors or may conduct their own salary surveys. When purchasing the results of salary surveys conducted by other vendors, note that surveys may be conducted within a specific industry or across industries as well as within one geographical region or across different geographical regions. Know which industry or geographic location the salary results pertain to before comparing the results to your company.

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Compensation systems are designed keeping in minds the strategic goals and business objectives. Compensation system is designed on the basis of certain factors after analyzing the job work and responsibilities. Components of a compensation system are as follows:

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What are different types of compensation?

Different types of compensation include:

Base Pay Commissions Overtime Pay Bonuses, Profit Sharing, Merit Pay Stock Options Travel/Meal/Housing Allowance Benefits including: dental, insurance, medical, vacation, leaves, retirement, taxes...

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Key Compensation Components

Compensation has become a far more complicated issue than just deciding how much to pay your employees. In addition to salary, employers must consider many other components 401(k) plans, stock options, bonuses and vacation that have become part of compensation packages today. Employees also have greater expectations of what should be included in their compensation packages, and they may demand specific benefits that can be costly for small businesses. Costly or not, building a fair and attractive compensation packages is critical for attracting and retaining employees. When setting up your compensation package, consider the following components:

Salary and wages. This is usually the single largest component of a

compensation package and, not surprisingly, the most common point of comparison used by employees and potential employees. Salary should be tied to a person's skills and experience. Subsequent increases need to be based on an employee's performance, value and contribution to an organization. Check salary surveys and want ads, and scout out competitors to see if they are underpaying or overpaying their staff. Paying too much is an unnecessary drain on

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your resources, but paying too little will make it difficult to find and keep the best people.

Bonuses. Employee bonuses, which are usually paid in a single lump at the end of
the year, are one way of providing performance incentives. Profit-sharing plans are a more formal way of doing this, but they're not as effective for rewarding individual performance and compensating employees for meeting their goals.

Long-term incentives. Stock options or stock grants not only provide long-term
incentives to employees, but they can also help retain valuable team members through your organization's crucial start-up phase.

Health insurance. Employer-sponsored health insurance is fairly standard

among medium-size companies. And it's a benefit that has great value to employees. An employer-sponsored plan saves employees money and gives them peace of mind in knowing that they won't be denied coverage, even if they have existing health problems. If you think you can't afford it, think again. Providing insurance to your employees sends the message that you care about their health and the health of their families. To minimize costs, consider having employees pick up part of the tab. Employees who have coverage through a spouse may want to opt out of a plan, particularly if there's a cost associated with it.

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Life and/or disability insurance. This is also a benefit that usually costs less
when it's purchased by an employer rather than an individual.

Retirement plans. 401(k) plans have become popular because they are
relatively easy to administer and are less expensive than traditional pension plans. Many employees like these plans because they maintain some control over the amount of their contribution and how the money is invested. Most small companies try to put some kind of savings or 401(k) plan in place, even if they don't contribute money to them.

Time off and flexible schedules. This includes holidays, vacations, sick days
and personal days. An employer unable to offer competitive salaries may close part of the gap by offering more time off or flexible work hours. Some employers make no distinction between sick, vacation and personal days and allow employees a set number of days off each year to be used at their discretion. This prevents employees from abusing sick days and keeps employees from feeling that they need to lie when a child is ill or a personal emergency arises.

Miscellaneous compensation. Other forms of compensation to consider

include employee assistance programs, which can provide everything from psychological counseling to legal assistance; discounts on company products; use of company cars; and any other incentives that motivate employees and give your company a competitive advantage.

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Compensation package of a top executive

The total compensation package of a top executive will generally have some Combination of the following components: base salary, short-term bonus based on

Performance over the past twelve months, long-term bonus based on performance over the past 3-5 years, stock options (qualified and/or non-qualified), restricted stock, stock purchase and profit sharing. Everything in addition to base salary is not typical of what the average worker receives, and each item should be examined in dividable. On top of the above there will also be a pension, all the usual insurance (health, dental, disability, life) and special fringe benefits ranging from tax preparation to country club membership. Any practicing economist who has ever dealt with the compensation package of a highly paid executive will have an understanding of the complexities involved in valuation, compared to a normal wage earner.

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OBJECTIVES OF THE STUDY.

To know the technique compensation system followed in kilpco private limited. To study Employees attitude towards the salary provided in kilpco private limited. To know the wage and salary procedure of the company. To take the review from the employees to study the effectiveness of Salary administration System of the company. To know whether the employees are satisfied with the salary or wage given to them by the organization. To know employee response towards his/her salary at Kilpco private limited.

To fulfill all the above mentioned objectives, a sample study was undertaken wherein a questionnaire was designed and was used as an interview schedule to generate responses from a population of 100 employees. After collection of data all the relevant information has been tabulated in unilateral or bilateral formats and results have been calculated therein with the help of charts and graphs.

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UTILITY OF THE STUDY

The study will be helpful for the organization to take corrective action if required on accordance of study. The study will act as a report which helps to the organization as well as students. This study will be helpful to increase the awareness in employees by asking them questions. So that, they can take relevant steps accordingly. To motivate employee to remains constant in the same organization thus it helps the organization to reduce its turnover ratio.

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Title of the study:

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A Study of wage and salary administration

Research Design:

The research design is Descriptive. As it gives opportunities to study each of the chosen areas in details. And it is concerned with describing the characteristics of a particular individual
or group. Here the researcher attempts to present the existing facts by collecting data.

The questionnaire was administered to the regular employees.

Sample Size:

The total employees

my sample.

were 350 hence, I am considering only 100 population as

The questionnaire was given to 100 full time employees in HR dept, and I got
100filled questionnaires.

Sampling Technique/Method:

The sample consists of total no. of 100 employees & the respondents have been
selected by using Non Probability Sampling method.

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Tools of Data collection:

PRIMARY and SECONDARY DATA COLLECTION For the purpose of data collection, a questionnaire. It consists of open and closed ended questions.
Research Instrument:

Primary Data Collection: -Questionnaire. Secondary Data Collection: - Websites - Past records.

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1. At which post you are working in the organization?

Staff Situation
80 70 60 Axis Title 50 40 30 20 10 0 Manager Executive Subordinate cleck worker Watchmen Total Percentage 4 4% 20 20% 2 2 Top level 2 2 18 2 74 2 76 76% Axis Title 4 4% 18 2 Middle level 20 2 76% Bottom Level Manager Executive Subordinate 20% cleck worker Watchmen Total Percentage 74 76

INTERPRTATION: From the above graph it can be interpreted that in Top level there are 4people ,InMiddle level there are 20 people and in Bottom level there are 76 people. From Top level 2 executives and 2 managers, from Mid-level 6 subordinate,12 sales Network and 2 clerks and from bottom level 74 are workers and 2 are watchmens.* (*THIS DATA IS COVERING ONLY THE SAMPLE SURVEYED NOT THE WHOLE POPULATION)

CONCLUTION: From this graph it can be concluded that Worker in this organization are more than others so it is a labor oriented organization.
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2. On what basis remuneration is given to you .

Bases of Remuneration

24

Salary wage

74

Remuneration Salary wage Total INTERPRTATION: 24 74 98

Percentage 24.4898 % 75.5102 % 100%

From the above graph it can be interpreted that Salaried Persons are 24 which includes Manager, Subordinate, Sales Network, clerk and watchmen and waged are 74 which includes all the workers this graph excludes the Executives as they are the owners of the organization. CONCLUTION: From this graph it can be concluded how many are salaried and waged class in the organization.

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3. Isthe salary you draw is better compared to the competitor organization

Salary vs Competitor org

6 Yes No 18

Salary Yes No Total

INTERPRTATION:

Percentage 18 6 24 75% 25%

From the above graph it can be interpreted that Salariedemployees think that their salary is better as compared to the competitor organization is 18 and those who think it is not better is 6. CONCLUTION: From this graph it can be concluded that Salariedemployees think that their salary is better as compared to the competitor organization is providing. 4. Is the Wage you draw is better compared to the competitor organization
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Wage you Draw

30 44

Yes No

Wage Yes No Total

INTERPRTATION:

Percentage 44 30 74 59.45% 40.54%

From the above graph it can be interpreted that Waged employees think that their wages are better as compared to the competitor organization is 44 and those who think it is not better is 30. CONCLUTION: From this graph it can be concluded that Waged employees think that their wages are better as compared to the competitor organization is providing but it can be noted that there is a need to look into their wages as there are many who think the opposite too.

5. Are you satisfied with your job

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Satisfied with job

36 80 60 40 20 0 0 62 0 0 0 0 YES 0 0 0 NO YES NO

Personal Qualificat As per less salarywork over skills ion knowledg load e YES 62 0 0 0 0 NO 0 0 0 36 0

YES Personal skills Qualification As per knowledge less salary work over load Total 62 0 0 0 0 98

NO 0 0 0 36 0

Percentage 63.26%

36.73%

INTERPRTATION: From the above graph it can be interpreted that employees satisfied with their jobs are 62and other who are satisfied are 36.employees who are satisfied with their job are based on their personal skill and those who are dissatisfied are because of salary issue. CONCLUTION: From this graph it can be concluded that employees are satisfied with their job.

6. Are you satisfied with the salary or wage given to you?

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salary Satisfaction

No, 34

Yes, 64

No of response Yes No Total 64 34 98

Percentage 65.30% 34.69%

INTERPRTATION: From the above graph it can be interpreted that employees satisfied with their salary or wages is 64 and those who are not satisfied are 34.

CONCLUTION: From this graph it can be concluded that employees are satisfied with their salary or wage.

7. Salary or wage is provided according to.

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Salary provided by
79 80 60 40 20 0 As per government norms As per Qualification As per performance As per skills 19 0 0 As per skills As per performance As per Qualification As per government norms 19 0 79 0 As per government norms As per Qualification As per performance As per skills

As per As per As per As per skills Total government Qualification performance norms No of 19 0 79 0 98 response Percentage 19.38% 0 80.61% 0
INTERPRTATION: From the above graph it can be interpreted that salary or wage is provided As per Government Norms are 19, as per performance is 79 and As per qualification and skills are NILL CONCLUTION: From this graph it can be concluded organization provides salary and wages as per the performance of the employees working.

8.

With the increase in wage or salary, there is an increase in job satisfaction.

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Salary vs Job Satisfaction

60 60 40 20 0 32 6 0 Strongly Agree No of response No of response 32 60 6 0 Agree Disagree Strongly Agree Agree Disagree Strongly Disagree Strongly Disagree

Strongly Agree No of response Percentage 32 32.653061

Agree 60 61.22449

Disagree 6 6.122449

Strongly Disagree Total 0 0 98

INTERPRTATION: From the above graph it can be interpreted that with increase in wage or salary job satisfaction increases according to the staff working is strongly Agree32,Agree60,Disagree6 and strongly disagree is NILL . CONCLUTION: From this graph it can be concluded that according to the employees increase in wage or salary will increase job satisfaction.

9. With the increase in wage or salary, there is an increase in Morale.

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Salary vs Morale
98 100 90 80 70 60 50 40 30 20 10 0 Strongly Agree Agree Disagree Strongly Disagree Total

42 20

36 0 20 42 36 0 98

Strongly Agree Agree Disagree Strongly Disagree Total

Strongly Agree No of response. percentage 20

Agree 42

Disagree 36

Strongly Disagree 0

Total 98

20.40%

42.85%

36.73%

INTERPRTATION: From the above graph it can be interpreted that with increase in wage or salary Morale increases according to the staff working is strongly Agree 20,Agree 42,Disagree 36 and strongly disagree is NILL . CONCLUTION: From this graph it can be concluded that according to the employees increase in wage or salary will increase Morale but even many people think it doesnt increase Morale..

10. With the increase in wage or salary, there is an increase in Productivity.

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Salary vs Productivity
60 50 50 40 30 20 10 6 0 Strongly Agree Agree Disagree Strongly Disagree 42 50 6 0 0 42 Strongly Agree Agree Disagree Strongly Disagree

Strongly Agree 42 Percentage 42.85%

Agree 50 51.02%

Disagree 6 6.122449

Strongly Disagree 0 0

total 98

INTERPRTATION: From the above graph it can be interpreted that with increase in wage or salary Productivity increases according to the staff working is strongly Agree 42, Agree 60, Disagree 6 and strongly disagree is NILL . CONCLUTION: From this graph it can be concluded that according to the employees increase in wage or salary will increase Productivity.

11. Are methods of performance appraisal justified to you?

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Performance Appraisal justification

11

Yes No 87

Performance Appraisal Yes No Total 87 11 98

Percentage 88.77% 11.22%

INTERPRTATION: From the above graph it can be interpreted that employees satisfied with method of Performance Appraisal is 87 and those who are not satisfied are 11.

CONCLUTION: From this graph it can be concluded that employees are satisfied with themethod of Performance Appraisal.

12. On what basis is employees are being paid

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Bases of Waging
0 24

74

Hourly

Daily

Weekly

Monthly

Paid Hourly Daily Weekly Monthly Total 0 74 0 24 98

Percentage 0 75.51% 0 24.48%

INTERPRTATION: From the above graph it can be interpreted that employees are been paid Monthly is 24, daily is 74 and Hourly and weekly is NILL.

CONCLUTION: From this graph it can be concluded that Employees are mostly paid as per Daily bases.

13. According to which system workers are being paid.

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Waging System
Others 24

Piece Wage system

0 Employees

Time Wage System 0 Employees 20 40 Piece Wage system 0 60 Others 24

74

80

Time Wage System 74

Employees Time Wage System Piece Wage system Others Total 74 0 24 98

Percentage 75.51% 0 24.48%

INTERPRTATION: From the above graph it can be interpreted that employees are been paid by Time Wage System is 74, Piece Wage System is Nil and by other is 24.( combination of time and piece wage system )

CONCLUTION: From this graph it can be concluded that Employees are mostly paid as per Time Wage System.

14. Are any fringe benefits provided by the organization?

(if above ans is yes than proceed further)
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Fringe Benefits
98 100 50 0 No of response No of response 98 0 YES YES NO 0 NO

YES NO

YES No of response Percentage INTERPRTATION: 98 100%

NO 0 0

Total 98

From the above graph it can be interpreted that employees are been Provided with fringe benefits are 98. CONCLUTION: From this graph it can be concluded that All Employees are provided with fringe benefits.

15. What kind of fringe benefits is provided.

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Kinds of Fringe Benefits

98 100 0 0 0 0 0 Bonus Salary Increment Rewards others

No of response No of response 98 0 0 0 0

Bonus Salary Increment Rewards others

Bonus No of response Percentage 98 100%

Salary 0 0

Increment Rewards others 0 0 0 0 0 0

Total 98

INTERPRTATION: From the above graph it can be interpreted that employees are been Types of fringe benefits are Bonus is 98, Salary, Increment ,Rewards, and others are NILL.

CONCLUTION: From this graph it can be concluded that All Employees are provided with Bonus.

16. How workers are being compensated.

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Compensation

100 Others 80 60 40 20 0 Health Insurace Accidental Insurance Allowances

No of response. Percentage

Allowances Accidental Health Others Insurance Insurance 20 0 0 20.40% 0 0

Total 78 98

79.59%

INTERPRTATION: From the above graph it can be interpreted How the employees are been Compensated, Allowances is 20, Accidental Insurance and Health Insurance is NILL and others is 78 CONCLUTION: From this graph it can be concluded that all Employees are been compensated by personnel means.

17.

How long you wish to work with the organization.

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Period to be in org
100 80 60 40 20 0 No of response No of response 73 10 9 6 98 10 9 6 Till Retirement 5 Years 2 Years 6 months Total Till Retirement 5 Years 2 Years 6 months Total 98 73

Till Retirement 73 Percentage 74.48%

5 Years 10 10.20%

2 Years 9 9.18%

6 months 6 6.12%

Total 98 98

INTERPRTATION: From the above graph it can be interpreted that employees wish to work with the organization is Till retirement is 73,for5 Years is 10 ,for 2 years is 9 and 6 months is 6 CONCLUTION: From this graph it can be concluded that Most Employees wish to work in the organization till retirement.

18. Are you wishing to switchover other firm?

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100 90 80 70 60 50 40 30 20 10 0

86

No 12 Yes

No of response

No Yes

No of response 86 12

Yes 12 Percentage 12.24%

No 86 87.75%

Total 98

INTERPRTATION: From the above graph it can be interpreted that employees wish to Switch to other firm is 12 and who wish to serve the firm is 86. CONCLUTION: From this graph it can be concluded that Most Employees do not wish to switch firms.

19. If above answer is yes what the reason for switch is over.

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No of response

Lack of Motivation 0 5 10 No of response 2 6 4 Fair Wages 15 Others

Lack of Motivation Fair Wages Others

Lack of Motivation 2 Percentage INTERPRTATION: 16.66%

Fair Wages 6 50%

Others 4 33.33%

Total 12

From the above graph it can be interpreted that employees wish to Switch to other firm and the reason they have is Fair wages is 6, Lack of Motivation is 2 and Others is 4 CONCLUTION: From this graph it can be concluded that Switching to other firm is because of unfair wages.

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FINDINGS:
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1. It is found that salaried person is satisfied to the salary they draw is better compared to competitor. This can be identified from question no. 3. 2. It is found that the wage person is satisfied to the wage they draw is better compared to competitor. This can be identified from question no. 4 3. It can be found that the employees are satisfied with their job but their are even some employees who are not satisfied with their job. This can be identified from question no.5 4. Employees are satisfied with their salary or wages but even here it can be found that many are not satisfied. 5. Salary or wages are provided as per government norms to some employees and others are provided as per their performance. This can be identified from question no 7. 6. It is found that if there is an increase in salary or wage their will be increase in their job satisfaction. This has been found from question no. 8 7. It is found that if there is an increase in salary or wage their will be increase in morale according to 62 employees are agree and 36 are disagree with this. This has been found from question no 9.

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8. It is found that if there is an increase in salary or wage their will be increase in productivity according to 92 employees are agree with this. This has been found from question no 10. 9. According to the 87 employees job satisfaction is justified. This has been from found from question no 11. 10. 74 employees are paid on daily basis and 24 are paid on monthly basis. This has been found from question no 12. 11. 74 employees are paid on time wage system and 24 are paid on combination of piece wage and time wage system . This has been found from question no 13. 12. All employees are provided with fringe benefits. (Bonus). 13. Employees are willing to work with the orgaanisation till retirement 73 , for 5 years 10, for 2 years 9 and for 6 months is 6 employees. 14. Most of the employees are not wishing to switchover the firm. But 12 employees are wishing to prefer other firm. Because of the fair wages , lack of motivation and others.

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RECOMMENDATIONS 1. It is found that some employees are not satisfied with their salary or wage I suggest that company should increase their motivation level and skills by providing them better working condition and 2. It is found that some employees are not satisfied with their salary or wage as per their work so I suggest that their should be piece wage system in the firm so that salary will be decided as per their performance and it is also beneficial to the firm . 3. As per ma survey many employees suggest that if their is increase in salary their will be increase in job satisfaction morale and even in productivity. Hence their should b increase in salary or wage.

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Websites: www.klipcoclips.com. www.jupiterclips.com. www.scribd.com. www.hrcite.com. Reference:Human Resource ManagementL.M prasad Company portfolio

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Questionnaire on salary administration of klipco private limited vapi. (as per employee s perception)
I will be grateful if you could spare a few minutes to complete this salary or wage administrations Questionnaire which will help me to ensure my survey. Please tick the appropriate box to indicate your degree of satisfaction.

Personal details

Date: ____________

Name of respondent:-_____________________________________________________ Age :-________________________ Gender:- ________________________________ Department:-_______________________ Designation:__________________________ salary: ____________________________ General details
1. At which post you are working in the organization? Top level o Manager o Executive Middle level o Subordinate o Clerk Bottom level o Workers o watchman

2. On what basis remuneration is given to you . Salary Wages

3. Is the salary u draw is better compared to the competitor organization YES NO

4. Is the Wage u draw is better compared to the competitor organization YES NO

5. Are you satisfied with your job

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 YES o o o

Personal skills Qualifications As per knowledge

NO o o

less salary over load work

6. Are you satisfied with the salary or wage given to you? YES NO

7. Salary or wage is provided according to. As per Gov. norms As per Qualification As per performance. As per Skills.

8. With the increase in wage or salary, there is an increase in job satisfaction. Strongly Agree. Agree. Disagree. Strongly Disagree. 9. With the increase in wage or salary, there is an increase in Morale. Strongly Agree. Agree. Disagree. Strongly Disagree. 10. With the increase in wage or salary, there is an increase in Productivity. Strongly Agree. Agree. Disagree. Strongly Disagree.

11. Are methods of performance appraisal justified to you? YES NO 78|

12. On what basis is employees are being paid Hourly Daily Weekly Monthly

13. According to which system workers are being paid. Time wage system Piece wage system Others.

14. Are any fringe benefits provided by the organization? YES (if above ans is yes than proceed further) NO

15. What kind of fringe benefits is provided. Bonus Salary Increment. Rewards. Others.

16. How workers are being compensated. Accidental insurance. Allowances Health Insurance. Others.

17. How long you wish to work with the organization. Till Retirement 5 years 2 years 6 months

18. Are you wishing to switchover other firm? YES 19. If above answer is yes what the reason for switch is over. Lack of motivation Fair wages Others NO

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SIGNATURE:________________

THANK YOU

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