Working Capital Management in Bajaj Allainz Life Insurance

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CONTENTS

1. Executive Summary1

2. History of coal India3

3. About C.M.P.D.I4

4. Services offered by C.M.P.D.I7

5. Wages and salary administration16

6. Definition17

7. Factors affecting wages and salary structure18

8. Criteria for fixation of wages and salary19

9. National Coal Wage Agreement Preamble21

10. Wages and salary structure for non executive employees23

11. Wages and salary structure for executive employees52

12. Limitation62

13. Questionnaire63

14.Conclusion65

15.Bibliography66

PREFACE

This project was a real challenge for me and I m thankful to everybody for the combined efforts without which I would have not completed this project .The fact is that a growing number of companies in recent times have established compensation programmed for employees that offer additional compensation based on individual ,group and organisational performance. Wage payment is a matter of great importance to employees. It determines their standard of living ,their attitude towards the company and influences their motivation to works . It is an important issue from employer’s point of view as well as their profit is affected by the total wage bill.

My project was based on the wages and salary administration in an organisation. For this I took interview of personnel manager and HRD with the help of questionnaire and visited a number of employees of the organisation .I am heartily grateful to all of them for supporting and encouraging me.

This project not only enhanced my knowledge in the field of field of principle and policy making in present business scenario but latest strategy trend involved in formulation of wages and salary administration in an organisation.

ACKNOWLEDGEMENT

It gives me great pleasure to present this report, a written testimony of the most fruitful training. I sincerely acknowledge that whatever little achievement I have made through this report would not have been possible without cooperation. I would like to take this opportunity to thank all those people without whom this project would not have been successfully completed

I offered my profound gratitude to the Personnel manager of C.M.P.D.I. Mr N .K .Sinha (Sr. Personnel Officer) and Mrs. Suman Rastogi (Dy. Personnel Manager) for giving me the opportunity of amalgamating my theoretical knowledge with practical experience, according to interest, and allowing me to complete my summer project within the company.

And last but not least, I am also deeply indebted to my parents for providing me all the necessary material required for the project.

This training will tenure cherish as a memorial experience throughout my career, as it was my first opportunity to apply my academic knowledge.

SARITA PRASAD

Executive Summary

STUDENT’S NAME: SARITA PRASAD
ORGANISATION: CENTRAL MINE PLANNING AND
DESIGN INSTITUTE LTD.

REPORTING OFFICER: Mr.N.K.SINHA

OBJECTIVES:-
➢ To gain an insight of the wages and salary administration of the company. ➢ To get knowledge about the various allowance, benefits, increments policy of the wage structure of Company. ➢ To know the tenure and extent to which reforms are done in wages policy of company. ➢ To get idea about the various services offered by the company. ➢ To find out the procedure and the committee responsible for the formation of wages norms and policy.

METHODOLOGY:-
The methodology which I used for finding the data are personal and structured interview .First I structured questionnaire which is a formal list of questions framed so as to get the facts. I felt the employee should be taken into confidence and clearly told why the survey is being undertaken so that he/she would realize its relevance and...
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