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Benefits are indirect financial and non-financial payments employees receive in addition to their regular wages or salary for continuing their employment with company. In Bangladesh, employees get different banking companies such as government bank, non-government bank and multinational banking companies. The employees who get different benefits form different banking companies are given bellow.
Government Bank JANATA BANK LTD. Multinational Bank HSBC BANK LTD. Non- govt Bank PUBALI BANK LTD.
1. Annual leave 2. Festival leave
1. Festival bonus
and bonus 3. Sick leave 4. Maternity leave 5. Pension 6. Gratuity 7. Lunch facility 8. Housing allowance 9. House building loan 10. Promotion and 11. Rewards
2. Paid leave bonus 3. Transport facility 4. Car loan 5. Sundray loan 6. Home loan 7. Flexible working arrangement 8. Marriage leave 9. maternity leave 10. Sick leave 11. Vacation 12. Sport and club 13. Provident fund 14. Gratuity 15. Communication 16. Learning and development facility and 17. Promotion
allowance 2. Conveyance allowance 3. Medical facility 4. Provident fund 5. Insurance benefit 6. Promotion facility 7. Loan facility 8. Festival bonus 9. Leave with payment 10. Bonus facility 11. Subsistence allowance 12. Reward 13. Scholarship benefit for the children by the welfare fund 14. Sick leave and 15. Pension
The above benefits are described bellow
Employees benefits of Government Bank
(Janata Bank Ltd.)
An employee of a government bank (Janata Bank Ltd.) gets some benefits form the government, these benefits are discussed in following1. Annual leave
Government provides 10 days casual leave to the employees of “Janata Bank Ltd.” each year with out public holidays.
2. Festival leave and bonus
The employees of this bank enjoy two time’s festival leave and bonus each year equal to their basic with six days.
3. Sick leave
Employees get minimum 2.5 months and minimum 4 months sick leave.
4. Maternity leave
The employees of this bank enjoy 6 months maternity leave continuously.
The employees of “Janata Bank Ltd.” Enjoy the pension facilities. Pension depends on the last basic. It is given after retirement.
Gratuity is provided on the basis of employees’ will. For example, if an employee wants to deduct 10% of basic, after his or her retirement will get 10% gratuity with interest.
7. Lunch facility
The employees of this bank also enjoy the lunch facility. The government provides tk. 150 per day for lunch to the employee.
8. Housing allowance
Government provides housing allowance to the employees’ basis on the place. Such as an employee who works in any branch of Dhaka he will get 60% housing allowance of basic, an employee who works in outpost he gets 40% housing allowance, an employee who works in district branch he or she will get 55 housing allowance of basic and any subordinate or lower level employee gets 60% housing allowance form the government. 9. House building loan Housing building loan also is provided to the employees. Housing building loan depends on the time and basic. An employee gets such loan in a specific rate of basic at a lower interest rate. Employee can take this loan when their need. 10. Promotion Promotion is given after three years each. It depends on the banking diploma, computer literacy and employees’ performance. By promotion any employee can take higher position. 11. Rewards Rewards is provide basis on the working performance. An employee who performs his works properly he will get such facility. It is provided to the employees so that they can perform their job properly.
Md. Shamim Officer, Janata Bank Ltd. Rayarbag Branch Dania, Jatrabari, Dhaka.
Employees benefits in Multinational Bank
An employee of a multinational bank “The Hongkong and Shanghai Banking Corporation Ltd. (HSBC)” gets the following benefits with basic salary given by the employer of the bank, these benefits are given or discussed in following. 1. Festival bonus Employees of HSBC enjoys the festive bonus form the bank authority. Employees get one time festival bonus equal to their one basic. 2. Paid leave bonus They also enjoy the paid leave bonus at one time equal to their one basic with 14 days. 3. Transport facility Transport facility is also provided to the employees. Employees who are in ‘branch-4’ they get provided car facility. 4. Car loan Employees get car loan 8-10 time basic. Specially, about 3% of basic is provided as a car loan. 5. Sundray loan Employees of HSBC get surdray loan this is paid maximum tk. 5,00,000.00 6. Home loan Home loan is also provided by the authority of HSBC. Employees home loan depends on the cost of fund. 7. Flexible working arrangement Flexible working arrangement benefits mean that the employees can learn any time about any thing their needed. 8. Marriage leave The employees of HSBC gets 7days marriage leave.
9. Maternity leave
The authority of HSBC provides 4 months maternity leave to the employees. 10. Sick leave Employee enjoy sick leave until they come round fully. 11. Vacation Employee of this bank enjoy 24 days to 30 days vacation without holidays each year. 12. Sport and club Sports and social club depends on each departments. 13. Provident fund About 10% of basic is provided to the provident fund. 14. Gratuity Gratuity is provided basis on the employees work time. For example if an employee works 10 years and gets tk. 1,00,000 each year then the gratuity will be tk. 10,00,000. 15. Communication It is the most important benefit of employee that is provided by HSBC authority. Employees can communicate at any time with their boss or with other employees about their problems and needed. 16. Learning and development facility and If employees want to learn any difficult things they can go to the learning and development center. 17. Promotion Promotion is given basis on the employees performance so employees performance is evaluated on time each year by the higher authority. At last we can say that the above benefits differ from one employees to another. Hasnain Mamun Manager, HR Projects and Development Human Resources The Hongkong and Shanghai Banking Corporation Ltd. Dhaka main office, Anchor Tower, 108 Bir Uttam C R Dutta Road. Dhaka 1205, Bangladesh.
Employees benefits in a Private Bank
(Pubali Bank Ltd.)
An employee (Senior or Principal officer) of a private bank (Pubali bank Ltd.) enjoys the following benefits with basic salary given by the bank authority, those are discussed as follows. 1. Accommodation allowance A senior principal officer of Pubali Bank enjoys 60% accommodation allowance of his or her basic salary. 2. Conveyance allowance Conveyance allowance also is provided to the senior officer of this Bank, the employees get 3.75% of basic salary as the conveyance allowance. 3. Medical facility About 10% of one’s basic remuneration is given to a senior principal officer as the medical facilities. 4. Provident fund An employee enjoys the provident fund facilities. For this an employee has to pay 10% of his or her basic salary to the provident fund and the employer also has to pay 10% to the provident fund. 5. Insurance benefit Insurance benefit is given to each employee by the authority of the bank. Insurance facility is totally offered by the bank authority when an employee dies during his or her job period. 6. Promotion facility Every employee enjoys the promotion facility in the Pubali Bank. Promotion facility is provided basis on the employees job performance. If an employee can perform his job properly he can get or enjoy such facility form the bank. 7. Loan facility The employees of Pubali Bank also enjoys the loan facility from the bank. Generally the employee has the opportunity to get 75% loan facility against his or her deposited money to the provident fund. 8. Festival bonus Every employee gets two bonuses facilities in every year for two religious program. These bonus are equal to one month’s gross salary.
9. Leave with payment A senior principal officer gets the two types of leave with payment. He enjoys the 20 days of a year as casual leave and 33 days of a year as privilege leave. 10. Bonus facility Employee also gets two types of bonus facility from authority. One is festival bonus that has been discussed previously and another is incentive bonus. Incentive bonus is given to every employee when bank earns huge amount of profit. The main purpose of this bonus is the encourage and motivate the employee so that every employee perform their perspective job with interest. 11. Subsistence allowance An employee gets the subsistence allowance for the time being, it is also paid to the employee when the price of daily necessary things increases. 12. Reward When an employee is able to achieve the of the bank and can take vital rule by his job performance in his working time,. The bank authority gives his or her some money or maintenance promotion as the reward of his or her extra performance. 13. Scholarship benefit for the children by the welfare fund If any boy or girl of an employee makes good result in the public examination, an employee gets tk. 20,000 for his or her children for better education. But for this facility an employees ha to become a member to the welfare society and he has to pay the fixed monthly payment. 14. Sick leave Sick leave is provided to the employee until he or she comes round. There is no specific time for sick leave. 15. Pension Every employee gets the pension facility when an employee goes to retirement he or she gets a large amount of money at a time. That money is deposited by the bank authority at 10% rate of basic remuneration in the provident fund. Md. Mukul Hossain Asst. Manager Pubali Bank Ltd. Wari Branch, Dhaka.
N.B. It is mentionable that the above benefits differ from employees rank to rank.
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