Padmashree Dr. D.Y.

Patil University’s
Department of Business Management

Human Resource Management

RESEARCH PROJECT

Study Of Compensation Management With Respect To i-

Process India Pvt. Ltd.

Submitted to : Prof. Rashmi Gopinathan

Date : 14-04-2011
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 PRESENTED BY:
NAMES ROLL NO.S

KIRTI KULKARNI 1066

GIBIN GOERGE 1067

TEJAS GURUDU 1068

DEVRATH KARANDE 1069

SNEHA MAYEKAR 1070

KAILASH JOSHI 1071

PRATIKSHA SHETTY 1011

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 INTRODUCTION
 WHAT IS COMPENSATION?
Compensation is a monetary payment i.e wage made by the
employer to his employees for the work done or services
rendered.

 HOW COMPENSATION HELPS?

Compensation planning gives managers the ability to simply
evaluate and define a compensation structure or create a
true-pay for performance culture for employees in the
organization.
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 CONT…
 COMPONENTS OF COMPENSATION

 Basic wages/salaries
 Dearness allowance
 Bonus
 Commission
 Mixed plans
 Piece rate wages
 Fringe benefits
 Reimbursements
 Sickness benefits

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 OBJECTIVES
 THE OBJECTIVES OF OUR STUDY INCLUDES

 To study the compensation practices in i-Process India

Pvt. Ltd.
 To identify the various expectations of the employees in
terms of compensation.
 To recommend suitable compensation changes with
respect to employees and company.
 To study as to whether Compensation can help to
motivate the employees.

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 RESEARCH METHODOLOGY
 THE REASEARCH METHODOLOGY USED

 Primary Data:
It includes direct personal interview and questionnaire
with a sample size-31.

 Secondary Data:
It includes project reports and books from library.

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 COMPANY PROFILE
 ICICI bank is one of the largest private bank in India.
 i-process is a subsidiary of ICICI bank. It acts as an
outsourcing firm to ICICI bank.
 i-process handles all the HR services/functions of ICICI
bank.
 i-process recruits the employees on pay roll system and
employs them for ICICI bank.
 The corporate office is at Delhi and registered office is at
Mumbai.
 The Mumbai office handles the HR functions for lower level
and middle level employees only.
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 Compensation Structure @ i-process
• There are different levels of HR employees and different
grade for other employees.

Levels Designations

L1. Senior position

L2 Asst. manager

L3 Coordinator

L4 Data entry

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 If an employee has a salary of Rs.24,000 then his
compensation structure will be as follows.
Actual Earnings Amount
BASIC 8000

HRA 6000

CONVEYANCE 2500

CANTEEN 1000

LTA ALLOWANCE 2000

MEDICAL ALLOWANCE 1250

MOBILE ALLOWANCE 800

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ACTUAL EARNINGS AMOUNT

INCENTIVES(depending on performance) 1500

OTHER ALLOWANCES 950

 BONUS given to the employees is 10% to 15% every

year.

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DEDUCTIONS AMOUNT

PROVIDENT FUND (ON BASIC SALARY IS 12%) 960

ESIC (5.75% ON GROSS SALARY) 1380

PROFESSIONAL TAX (PT) 200

INCOME TAX (10%) 2400

TOTALS AMOUNT

GROSS PAY 24,000

GROSS DEDUCTION 4940

NET PAY 19,060

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 OTHER BENEFITS

• Increment: every year in October at 10% to 15%.

• Staff welfare activities like picnics, staff lunch or dinner

etc.

• Gifts on Diwali every year.

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 PERFORMANCE SYSTEM
• Performance grading system is measured on following
parameters.

• Job responsibilities.

• Attitude.

• Achievement.

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 DATA ANALYSIS
• The salary I receive is adequate?
Everyone has agreed that their salary is adequate.
• The staff welfare activities by the company are
adequate?
Maximum agreed by senior level employees.
• The medical facilities extended by the company are
adequate?
Both senior and junior level employees are satisfied
with the company’s medical facilities,but lower level
employees not satisfied.
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• I am satisfied with the schemes regarding loans and
advances?
Mostly disagreed by junior level and very few agreed
by senior and Asst. Level
• Was there any increase in the salary the previous
year?
Agreed by all levels but majority agreed by junior
level employees.
• My salary matches my responsibilities, skills and
experience
Agreed by all levels.

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• Does your performance affect your salary? If yes, in
what terms?
Incentives affected for junior levels and senior levels
gets the warning.
• What are the earnings made that are added in the
salary?
All levels get all facilities like HRA, Canteen,
Conveyance, Mobile and Medical Allowance.

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• Deductions made from the salary?
P.F, ESIC, P.T., I.T. are deducted for all the
employees.
• Is there any bonus provided to you?
All the employees have agreed.
• Are there any other allowances provided to
you?

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 RECOMMENDATIONS
• Through the study conducted, we recommend the following to i-process
Pvt. Ltd. :

• I-process Pvt. Ltd. should grant some loans and advances facilities as the
employees have responded in the questionnaire that they are not satisfied
by the loan facilities of the company.

• They should also give a percentage of Mobile allowance to the junior level
executives to motivate them in their work.

• The company should also focus on the medical facilities of the lower level
employees, though the facilities are provided.

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 CONCLUSION

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