PROJECT REPORT

“A STUDY ON EMPLOYEE BENEFITS AT

KRISHNA ENTERPRISE , AHMEDABAD
 ACKNOWLEDGEMENT

This project would not have been successfully materialized had it not been for the
several people who have directly and indirectly helped me. I am extremely
indebted to all of them and whole –heartedly thank everyone for their valuable
support.

I am grateful to TUSHAR KANTARIYA, Chairman, KRISHNA ENTERPRISE

AHMEDABAD for giving active support and guidance during the course of my
internship in the company.

I sincerely thank Mr. VIPUL DHARSANDIYA ( H.R Manager) I also thank all the
employees of the Human Resource department KRISHNA
ENTERPRISE,AHMEDABAD

I sincerely thank family members and friends for the co-operation to complete this
project work successfully.

Above all, I thank God Almighty for the ever-abiding kind blessings he has
showered upon me.

POOJA RAJODIYA
 STUDENT’S DECLARATION

I hereby declare that this project entitled “A STUDY ON RECRUITMENT AND

SELECTION” was prepared by me during the year 2022 and was submitted in
partial fulfillment of the requirements for Masters of Business Administration,
PATEL KELAVANI MANDAL TECH.& B.ED COLLAGE

I also declare that this project report is original and genuine and has not been
submitted to any other university of the award of any degree, diploma or other
similar titles or purposes.

Place: JUNAGADH
Date:

POOJA RAJODIYA
 INDEX

SR NO. CONTENTS PAGE

NO.

1. GENERAL INFORMATION 1 TO 3

2. COMPANY PROFILE 4 To 32

3. HUMAN RESOURCE 33 To 36
MANAGEMENT

4. RECRUITMENT 37 To 49

5. CONCLUSION 50

6. BIBLIOGRAPHY 51
 GENERAL
INFORMATION

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The Krishna enterprise. Was incorporated in 18 February, 1989 and at
. The Company provides various product which cater to the needs of
its customers.

The company has acquired “The global magnet achivment” in the

financial year 2021-22

The pioneer of the Company & the Company has make such an
examplory successes only because of
Mr Tushar Kantariya. Who spent all his life for the uplifment of the
company.
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The Company was incorporated on 18 February,1989 with the C
Reg. No.: Se-8221 whereas the business commencement was start
from 17 JUNE,1998.

The Krishna enterprise Ahmedabad provides various product such as :

1. Deluxe Magnetic Catcher.

2. V White Magnetic Catcher

3. V White Magnetic Catcher

4. SS Aldrop

5. SS Tower Bolt

6. SS Latches

7. SS Door Stopper

8. SS Gate Hook

9. Pin Twin Wheel Caster

10. Plate Twin Wheel Caster

11. Thread Twin Wheel Caster

12. U Twin Wheel Caster

13. Plastic Cable Manager

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COMPANY
PROFILE

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 COMPANY PROFILE

Name of the Organization krishna enterprise

C-19, Phase 2, Behind New Samrat Namkeen,
GIDC, GIDC Naroda,
Ahmedabad-382330, Gujarat, India
Administrative Office C-19, Phase 2, Behind New
Samrat Namkeen, GIDC,
GIDC Naroda,
Ahmedabad-382330,
Gujarat, India
CEO of the company
Mr. Tushar Kantariya
Year of Established 18 February,1989

Email Id krishnaenterprise@gmail.com

Status Commercial

Website https:///krishnaentp/

Phone No. +91 9377427751

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 SIZE OF UNITS

Industries can be categorized on the basis of capital invested in it.

There are three categories.

1. Small scale industry.

2. Medium scale industry.

3. Large scale industry.

1. Small scale Industry:

Small scale Industries are those industries in which the

manufacturing, production and rendering of services are done on
a small or micro scale. These industries capital does not exceed
Rs. 1 crore and annual turnover does not exceed Rs. 5 crore.

2..Medium scale Industry:

Economic development refers to the transformation of an economy

from a state of underdevelopment to a state of development.

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 Their capital is more than 5 crores and also less than 10
crores.

3.Large scale Industry:

Industries which require huge infrastructure and manpower with an

influx of capital assets are Large Scale Industries. In India,
large-scale industries are the ones with a fixed asset of more
than one hundred million rupees or Rs. 10 crores.

❖ KRISHNA ENTERPRISE

“SMALL SCALE INDUSTRY”.

PROMOTER AND MANAGEMENT GROUP

❖ In India, promoters are usually persons who, in forming the

company, secure for themselves the management of the

company being formed or are persons who convert their own
private business into a limited company and secure for

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themselves more or less a controlling interest into the company's
management.

NAME TITLE

Late Shri Haribhai kantariya Promoter

Mr. Tushar kantariya Chairman

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 FORMS OF ORGANIZATION

❖ The forms of business organization with ownership and

ownership is a legal concept which determines the authority and
responsibilities of the owner. the authority and responsibilities
of the owners keep on changing along with the changing forms
of ownership

❖ There are 4 main types of business organization:

1. Sole proprietorship
2. Partnership
3. Public Company
4. Private Company

❖ Sole Proprietorship : A sole proprietorship—also referred to

as a sole trader or a proprietorship—is an unincorporated

business that has just one owner who pays personal income tax
on profits earned from the business.

❖ Partnership : Partnership as an association of two or more

persons who have agreed to share the profits of a business which

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 they run together. ... The persons who own the partnership
business are individually called 'partners' and collectively they
are called 'firm' or 'partnership firm'.

❖ Public Company: A public company is a corporation wherein

the ownership is dispensed to general public shareholders

through the free trade of shares of stock over-the-counter at
markets or on exchanges. ... Public companies are traded
publicly within an open market.

❖ Private Company: A private company is a firm held under

private ownership. Private companies may issue stock and have
shareholders, but their shares do not trade on public exchanges
and are not issued through an initial public offering

KRISHNA ENTERPRISE

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 ORGANIZATIONAL STRUCTURE

An organizational structure defines how activities

such as task allocation , coordination, and supervision are directed
toward the achievement of organizational aims.

There are six types of organizational structures they are:

1. Line organization

2. Staff organization

3. Line and staff organization

4. Functional organization

5. Project organization

6. Matrix organization

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Evaluation of Organizational Structure:
Let us try to evaluate the organizational structures. The same are
spelled out as follows:

1. Line Organization:-

❖ Line organizational structure is one of the simplest types of

organizational structures. Its authority flows from top to
bottom. Unlike other structures, specialized and supportive
services do not take place in these organizations. The chain of
command and each department head has control over their
departments.

❖ This chain of command dictates who reports to whom and who

has authority over which employees. A simple example of a line
of authority in a line organizational structure would be a
company with a Chief Executive Officer (CEO), Chief
Financial Officer (CFO), and Chief Operating Officer
(COO).

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2. Staff organization

Staff structure or linear-staff organizational structure is one of the

attempts to solve the problem of linear structure constraints. Manager
having too much various tasks is not able to effectively manage its
employees.

Therefore, staff units has been introduced, which was supposed to

perform some of manager tasks.

Role of staff within structure

General management may decide, however, that a better solution

would be to create a general staff of experts helping head manager
(CEO), and not individual expert positions for each lower level
manager. Where appropriate managers are granted the right to use of
expert knowledge of general staff of experts. The management staff
changes in the general staff.

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Advantages of staff structure

Staff structure allows to preserve the principle of one-man

management (every worker has only one superior), but at the same
time provides greater flexibility in changing operating conditions. It
also introduces an element of encouraging cooperation between all
members of the organization. Expanded linear-staff structures in
bigger organizations may experience conflicts between the managers
and experts concerning they role in decision making process. The
threat of conflicts is greater when there is a hierarchy of various staffs
in organization. Managers must have at least such a range of
knowledge, which would allow them to pass without distortion
command suggested by staff of experts. Experts could not command
any of employees directly.

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3. Line and staff organization

line-staff organization, in management, approach in which authorities

(e.g., managers) establish goals and directives that are then fulfilled
by staff and other workers. A line-staff organizational structure
attempts to render a large and complex enterprise more flexible
without sacrificing managerial authority.

Classical theories of organization associated with Henri Fayol,

Frederick W. Taylor, and others who pioneered new administrative
strategies in the late 1800s and early 1900s define formal
organizations as collective enterprises identified by a clear division of
labour and authority. These theories view decision-making power as
flowing from a unified command structure. Relationships between
individuals, groups, and divisions are based on lines of authority that
are predetermined. Typically, work is carried out in accordance with
specialized functions, and authority is exercised in a hierarchical
manner. In a highly centralized structure, decisions are made by a few
executives or managers and flow downward through the enterprise.
However, as organizations grow in scope and complexity, they need to
be flexible in the extent to which coordination and control are
centrally applied. The principle of line-staff organization introduces
flexibility into hierarchical lines of authority while trying to preserve
a unified command structure.

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4. Functional organization

Functional organization has been divided to put the specialists in the

top position throughout the enterprise. This is an organization in
which we can define as a system in which functional department are
created to deal with the problems of business at various levels.
Functional authority remains confined to functional guidance to
different departments. This helps in maintaining quality and
uniformity of performance of different functions throughout the
enterprise.

Features of Functional Organizat

The entire organizational activities are divided into specific functions

such as operations, finance, marketing and personal relations.

1. Complex form of administrative organization compared to

the other two.
2. Three authorities exist- Line, staff and function.
3. Each functional area is put under the charge of functional
specialists and he has got the authority to give all decisions

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 regarding the function whenever the function is performed
throughout the enterprise.
4. Principle of unity of command does not apply to such
organization as it is present in line organization.

Merits of Functional Organization

1. Specialization- Better division of labour takes place which

results in specialization of function and it’s consequent
benefit.
2. Effective Control- Management control is simplified as the
mental functions are separated from manual functions.
Checks and balances keep the authority within certain limits.
Specialists may be asked to judge the performance of
various sections.
3. Efficiency- Greater efficiency is achieved because of every
function performing a limited number of functions.
4. Economy- Specialization compiled with standardization
facilitates maximum production and economical costs.
5. Expansion- Expert knowledge of functional manager
facilitates better control and supervision.

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 Demerits of Functional Organization

1. Confusion- The functional system is quite complicated to put

into operation, especially when it is carried out at low levels.
Therefore, co-ordination becomes difficult.
2. Lack of Co-ordination- Disciplinary control becomes weak
as a worker is commanded not by one person but a large
number of people. Thus, there is no unity of command.
3. Difficulty in fixing responsibility- Because of multiple
authority, it is difficult to fix responsibility.
4. Conflicts- There may be conflicts among the supervisory
staff of equal ranks. They may not agree on certain issues.
5. Costly- Maintainance of specialist’s staff of the highest order
is expensive for a concern

5. Project organization

The project organization is the structure of the project. It’s

created separately, with specialists and workers from various
departments. These personnel work under the project manager.

Project organization is a process. It provides the arrangement

for decisions on how to realize a project. It decides the project’s
process: planning how its costs, deadlines, personnel, and tools

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will be implemented. The project organization is then presented
to the project stakeholders.

Types of Project Organizational Structures

● Functional is when the organizational departments are

grouped by areas of specialization. In this case, the project
is usually executed in a silo environment.

● Matrix has teams report to both a functional manager and

project manager, sort of a hybrid of the previous two
structures.

● Virtual is when the project manager is the hub in the

network Multi-division means that functional groups are
decentralized.

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 6. Matrix organization

A matrix organization is defined as one in which there is

dual or multiple managerial accountability and
responsibility. However, the term matrix means quite
different things to different people and in different
industries (1)(5). In a matrix there are usually two chains
of command, one along functional lines and the other
along project, product, or client lines. Other chains of
command such as geographic location are also possible.

The matrix organizational form may vary from one in

which the project manager holds a very strong managerial
position to one in which he plays only a coordinating role.
To illustrate the organizational principles, a matrix will be
considered first in which there is a balance of power
between the project and functional managers. It must be
recognized that such a balanced situation, considered by
some authorities to be ideal, probably seldom occurs in
practice.

The Two-Boss Matrix

In a balanced matrix organization various people in the organization

have two bosses (figure 1). This represents an abandonment of the

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age-old management concept, “Thou shalt have but one boss above
thee.” None of the reporting relationships shown in figure 1 are
dotted-line relationships. Solid- and dotted-line relationships have
various interpretations depending upon local management custom.
However, solid lines normally connect managers with their direct
subordinates, the man above being the boss. Dotted lines are usually
used to indicate staff relationships or reporting relationships of lesser
importance. The project manager in the matrix organization is not a
staff man nor does he normally have less authority than the functional
managers reporting on the same level. Neither can the relationships
shown in figure 1 be simply described by such terms as “he reports to
the functional manager only for technical direction,” or “he reports to
the project office for budgetary and schedule control.” Such
descriptions are inadequate to describe how the matrix organization
really works because in reality, not just on paper, the project personnel
do have two bosses.

Implicit in the definition of the matrix organization is the recognition

that the project is temporary whereas the functional departments are
more permanent. Although all organizations are temporary in that
they are constantly changing, the matrix is designed to be temporary
and a particular organizational structure lasts only for the finite life of
the project.

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The Matrix Organization

It has been recognized that the matrix organizational structure has

applications far beyond that of project (program or product)
management However, in this discussion the matrix will only be
considered from the viewpoint of its most highly developed
application — that of project management.

The term “matrix project organization” refers to a multidisciplinary

team whose members are drawn from various line or functional units
of the heirarchical organization. The organization so developed is
temporary in nature, since it is built around the project or specific task
to be done rather than on organizational functions. The matrix is thus
built up as a team of personnel drawn from both the project and the
functional or disciplinary organizations. In other words a project

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organization is superimposed on the conventional functional
hierarchical organization.

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 PRODUCT OF KRISHNA ENTERPRISE

Magnetic Door Catcher

Using quality tested raw material and ultra-modern methodology, the

offered catcher is manufactured by our skilled technocrats as followed
the industry laid norms. In order to ensure its quality and durability,
our quality experts inspect catcher on various quality parameters in
line with predefined industry.

Features:

● Corrosion-resistance
● Excellent finish
● Sturdiness
● Entire range of Magnetic Door Catcher to suit customer's
requirement. Hi-Power barium Ferrite magnet for better grip

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 ● Extra durability due to ABS virgin plastic
● Consistent quality
● Available in 4 Eye Pleasing Colors

Deluxe Magnetic Catcher

At our technically sound production unit, the provided catcher is

manufactured using supreme grade raw material with the help of the
latest technology under the stern surveillance of our qualified
professionals. Owing to its durability, accurate dimension and
sturdiness, the offered parts are highly demanded by our patrons in the
market. This catcher is used in show cases, drawers or at the back side
of doors.

Features:

● Rust proof
● Easy installation
● Excellent strength

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 ● Sturdy & Eye Pleasing design.
● Surface grinded inner plate with nickel plating for anti rust
property.
● Packed in weather proof pouch packing.
● Packed with perfect size screw for better fitting.

SS Aldrop

At technically sound production unit, the provided aldrop is

manufactured using supreme grade stainless steel with the help of the
latest technology under the stern surveillance of our qualified
professionals. Owing to its durability, accurate dimension and
sturdiness, the offered aldrop is highly demanded by our patrons in
the market.

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SS Tower Bolt

Features:

● Full extension of drawer available.

● Direct front installation without De-assembly.
● Precision ball bearing for smooth movement.

SS Latches

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These Patch Fittings are made available by us in diverse dimensions
and different finishes that have immaculate quality. Our range of
products has performance reliability, inventive and is precision
engineered using the advanced production technology, in order to
provide impeccable performance without any hassle. Prior to supply
of these products to our clients, our Quality controllers perform strict
quality tests on this range to ensure zero defects.

Pin Twin Wheel Caster

The offered caster is precisely manufactured at par with industry

standards of quality under the stern surveillance of our deft
technocrats using quality assured raw material and progressive
technology. This caster is used by our clients in different trolleys for
easy movement. Apart from this, our esteemed clients can avail the
offered product from us at reasonable price.

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Features:

● Dimensionally accurate
● High strength
● Easy installation

U Twin Wheel Caster

The provided caster is perfectly manufactured using high grade

raw material with the help of pioneered technology in
synchronization with set industry norms and standards.
Furthermore, we offer this wheel caster in several dimensions
and sizes as per the preferences of our patrons.

Features:
● Sturdiness
● Precisely design
● Durable finish standard

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Four Wheel Caster

The offered caster is used in different industries for the transportation

of heavy equipment from one place to another. The provided caster is
manufactured making use of quality tested raw material and advanced
technology. To ensure the best quality, this caster is strictly inspected
on practical parameters by our quality controllers.

Features:

● Accurate dimension
● Easy to install
● Non corrosive

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Cable Manager

Making of supreme quality plastic material and innovative

methodology, the offered product is perfectly manufactured under the
guidance of qualified workforce with utmost care and perfection. To
ensure its quality, our quality experts check the entire range on
numerous measures of quality in adherence to defined industry
standards.

Features:

● Optimum finish
● Sturdiness
● Smooth edges
● Two convenient sizes to suit customers' requirement
● ABS virgin plastic for extra durability
● Available in 5 Eye Pleasing colors
● Variable setting to manage a bunch of wires

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 Department of Krishna Enterprise

● Product Development

● Production Planning & Inventory Control

● Production

● Quality Control

● Commercial

● Engineering

● Technical Services

● Marketing

● Export

● Sales and Distribution

● Accounts & Finance

● Human Resources

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 HUMAN
RESOURCE
DEPARTMENT

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 INTRODUCTION OF HR

Human resources describes the people who make up the work force of
an organization, business sector, or economy. "Human capital" is
sometimes used synonymously with "human resources", although
human capital typically refers to a narrower effect (i.e., the knowledge
the individuals embody and economic growth). Likewise, other terms
sometimes used include manpower, talent, labour, personnel,
"associates" or simply people.

A human-resources department (HR department) of an organization

performs human resource management, overseeing various aspects of
employees, such as compliance with labor law and employment
standards, administration of employee benefits, organizing of
employees files with the required documents for future reference,
some aspects of recruitment.

An organization is a group of people come together to achieve

specific goals. Among all M’s Man is the most important M. People
in the organization determine whether organization will succeed or
fail. So people working in the organization are called Human
Resource.

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Nowadays, quality, excellence , flexibility value of HR is the most
important part . So as a result management of HR has become an
integral part of the organizational activity and has been term as
HRM.

The overall responsibility of administrating the key source to the firm

i.e. staff are decomposified by the
H.R. Manager who is supported by different functional
services , planning, control & utilities. Personal
department is the main part of the each and every
company without the person company can do nothing
and cannot stimulate profits.

The existing H.R. the manager of the institute is Mr. Vipul

Dharsandiya who is being serving his exemplary duty to the
company for 8 years.

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Employee Benefits

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 DEFINITION

Employee benefits are defined as the non-wage compensation

provided to employees by an organization in addition to their normal
salaries or wages.

These benefits may include, group insurance (health, dental, life etc.)
retirement benefits, education loan, other loans (house loan, vehicle
loan etc), sick leaves, vacation as well as flexible alternative
arrangements.

In an organization, workforce is the most valuable asset and is

important for an organization to understand their needs and help them
be engaged and satisfied. Employee benefits when offered to the
employees act as an attribute for better performance and support for
your employees.

With rapid globalization and organizations looking at massive

expansion not only in the countries where they are set up but also
across the globe, is a key indicator for giving employees the
flexibility to work at the hours most convenient to them.

For example consider an organization that is based out of the states

and has its branches in Germany, Latin America, Asia, and Australia.
The workforce engaged with this organization have different working

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hours according to the continent they are in. If the organization is
providing flexible working hours, it will be suitable for the employees
to effectively communicate with each other at the hours most
appropriate for them.

This is just one example of employee benefits. Let us explore in this

blog the other examples of employee benefits that will help you keep
your staff engaged and happy.

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 Types of employee benefits

effectively and efficiently perform their duties and assigned tasks at

their workplaces. The opportunities may be within or outside of their
country which will add to their skills, expertise, and experience to
learn more advanced, efficient, and innovative ways of working.

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Foreword to the Problem: How Employee Benefits Evolved

The evolution of employees’ benefits is best described by the

deprivation theory perspective (Grosby 1976). This theory was
developed for explaining civil conflicts which occur when elongated
times of prosperity and affluence offer relaxation to the miserable
economic situations. The theory contends that people expect high due
to the prolonged history of prosperity and become hopeful of its
continuity. And when it does not happen so, an inconsistence situation
develops in which they keep finding themselves. Further, it postulates
that the sharp fall in the prosperity violates the employee expectations
which make people feel deprived and dissatisfied which leads to add
discontent (Martin 1981). People feel deprived, resented, and grieved
mostly in two situations. First, when they observe discrepancy among
actual and expected outcomes, second, when they experience
incongruity in between the outcomes and benefits they get and the
outcomes and benefits they deserve. In the perspective of employees,
the employee benefits evolved with a close resemblance to the
concepts of theory of deprivation perspective, such as in case of
United States, employee benefits evolved in a way same as the
J-curve of this theory which shows steady growth in the offered
benefits and their cost in past decades, while recently the cost of these
benefits have been observed to decrease and decline in several cases.
A certain part of these benefits is accredited to the federal regulation
which made it mandatory for organizations to offer several benefits

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which include compensation, social security, etc. Ultimately, the
voluntarily offered employee benefits started increasing and
employers began thinking that these benefits may be useful in
attracting andretaining the productive and efficient human resources
(Siyal and Peng 2018; Siyal 2018). Hence, the employers started
offering more benefits due to the exemption or discount in buying the
group benefits for their human resources such as health insurance,
plan for retirement, and leave with pay. In providing health insurance
for the families of their workforce, the employers had to pay extra for
their families and at the times in 1970s and 1980s when the prices for
health insurance were increased. In addition, the workforce in past
was homogenous, having male as the head of the family which caused
the similarity in demands of employee benefits plans. However, the
today’s workforce is heterogeneous, reflecting diverse needs and
demands for the benefit plans as compared to the ones in past. These
benefit plans are much more elaborate and expensive which are
required to meet the demands and satisfaction of the today’s
workforce.

Strategies to Prevent the Adverse Consequence

The employers always seek to enhance their competitiveness by

following their strategies which usually require to reduce the cost of
benefits and labor. Though it advises a need of reducing the benefits
and shifting the costs, it also argues that most of these practices have

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the possibility to adversely affect the attitudes and behaviors of
employees. Hence, it recommends to investigate and identify the
alternative approaches for replacing the reduction in benefits and cost
shifting. Currently, the main challenge of the employers and
organizations is to recognize and develop strategies of reducing the
cost of benefit plans without the risk of possible adverse outcomes in
general and specifically the one which violate the psychological
contract. The changes in the attitudes and behaviors of employees are
adverse for the organizations and affect their proficiency and
performance. Keeping in view these challenges, there are some
recommended approaches which fill this gap between the expected
benefits by employees and the offered benefits by employers. These
recommended approaches are classified into main three categories
which include: first, those emphasizing on the expectations of
employees in terms of their benefits; second, those focusing to satisfy
the needs of employees; and third, those who involve their employees
in designing and administrating their own benefit plans.

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SEPARATION PROCESS

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RESIGNATION
: In case of employee is resigning from the service for professional
orpersonal reasons, must give a written resignation letter to concerned
immediate supervisorwill initiate further action the relieving date will
be decided in relation with terms andconditions as per letter of
appointment . The notice period/ notice pay deduction etc. willbe
based on the same
NOTICE PERIOD:
Notice period of service may be effected by either side tendering
onemonth notice for all confirmed employees, out of which 15 days
working is must from theemployee and for rest of the period payment
of 15 days salary (basic salary) in lieu of notice may be recovered at
the sole discretion. During probation period an employee isrequired to
serve a notice period of 15 days. The increase/decrease in the notice
period isagain on the sole discretion of management.
EXIT INTERVIEW/ BLACK BOX
: In annual event of an employee leaving theorganisation, his/her exit
interview is conducted by the immediate supervisor along
withmember of HR team, strictly in personal confidence to know his
experience with thecompany, difficulty at work, suggestion, scope of
improvement, training needs, reason forleaving, policy issues, etc. To
ensure timely compliance and necessary actions to avoidearly exit on
the same ground. The employee as to submit a formal notice of
resignation.For Asst. manager and above category formal and
informal exit interviews shall beadministrated by regional
coordinator/branch manager/unit head and corporate HR.

JOB ABANDONMENT:
If an employee remains absent without leave or remains absent for
more than3 working days in addition to originally granted leave
period, he/she will beconsidered as absconding.

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In such case of absconding of employee , he or she will be issued a
warningletter immediately

If the absconded employee doesn‟t revert back within a week of

issuance he or she will be given one more chance for explaining his or
her reason, andorganization would issue him or her show cause notice
asking foe why he or she is not coming and shouldn‟t organization
terminate him or her on these
grounds of abandonment?

If the employee doesn‟t even reply to this in next seven days .th
en it will beconsidered that the employee is not interested in
associating with theorganization anymore. He or she will be issued a
termination letter. all thecommunication will be done at correspondent
address of employee

The above mentioned procedure is applicable for confirm employees

only. incase of probationary employee termination would be from the
immediateeffect of such abandonment
TERMINATION LETTER:
Termination is an undesirable outcome for both theemployee and the
company but may be necessary if the employee
Violates the companies policy/code of conduct/rules and regulations
Any act /behaviour which damages brand image/equity
Is unable to meet the company‟s performance standards
FULL&FINAL SETTLEMENT:
On receiving the separation check list from HR /commercial,the
employee must obtain the signature of all concern and return it to HR/
commercialdepartment the employee is required to settle all financial
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obligations and turn in his or heridentification card, keys and any
other property which he or she had been issued by all company.The
full & final amount is paid to the employee after recovering all
advances/ outstanding dues, if any. The Company reserves the right to
with-hold / deduct the full final settlement. In case theresign em
ployee doesn’t comply with the basic formalities as per requirement
of immediate
supervisor.
CLEARENCE OF NO DUES FORM
: Employee has to submit a NO DUE FORM to theorganization only
then he will be given his last month salary as the salary is generally
put on holdwhen the employee generates an request that he wants to
leave an organization.Following details are there in the form:

● Employee name
● Designation
● Date of joining
● Date of discharge
● Notice period given
● Remarks
● Department
● Employee code
● Date of resignation
● Resignation acceptance
● Leave balance
● Clearance by department head
● Clearance by account department
● Details of outstanding against hard furnishing
● Clearance from admin
● Clearance from IT department
Signature of employee

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When all the above formalities are cleared no dues form is cleared this
form is transferred toaccounts department for further process and
releasing the exit employees salary.
ISSUING OF EXIT LETTER
: All the above formalities are completed then exit letter is beenissued
by the concerned department to whom the employee was been
reporting and all the finalsettlements are made and finally the
candidates gets the TAKE HOME PAY and he can leave
theorganization
Company/management reserves the right to modify, cancel or amend
any or all these ruleswithout any previous notice and giving effect to
them as deemed fit

MEDICLAIM POLICY

Employee has to complete all their formalities during the time of

joining. It is the duty of Employee to give the complete information
about their family members, which mayinclude spouse, first two
children and employee parents.

Any information given after joining formalities will not be entertained

except for spouseand first two children.

The declaration, nomination and updation will have to take care by

concerned employeewell in time in coordination with corporate HR.

To claim hospitalization bills all original documents like hospital

admission, briefingcause of admission, date of discharge, prescription
notes, medicine expense bills, othertreatment like surgery, special

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treatment, X ray, scanning, diagnosis report etc. bills to besubmitted
in details

The Hospital should have minimum 5 beds capacity. Minimum 24

hours of hospitalization is required. A

The Doctor should be registered under Medical Registration and

qualified as MBBS orMD.

In case employee is resuming duty Original Discharge certificate with

fitness certificateis required to be submitted.

The policy benefits can be availed only after completion of following

formalities, whichare mandatory for further compliance with the
insurance company. Any deviation to this,the insurance Company
shall not be entertained for claim process.

Yearly a specific amount is deducted from the salary of the employee

as the premium forthis mediclaim policy. This amount may vary
according to the grade of employee.

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 Conclusion

Compensation, incentives, benefits and safety/ health concern is an

interesting area of inhuman resource to study. In the modern
workplace, compensation is very important as it aims at improving
job satisfaction and also the staff morale. Incentives tend to raise the
self-esteem of the workers and at the same time makes the workers be
proud of the organization they are working for. Provision of
incentives day in day out helps to attract more qualified personnel to
the company which will, in turn, raise the company competitiveness
in the market. Benefits that are often directed to the workers is also
important when it comes to propagating staff morale.Giving benefits
such as health insurance and family free time helps workers to
energize and be more productive once they are back in the workplace.
Safety/ health concerns also matter a lot since when workers know
that the employer is concerned about their welfare, they are able to
accomplish their duties with no or less fear. Compensation,
incentives, benefits and safety/healthconcerns are very important in
any modern workplace and all the managers across the globe need to
consider this. Attending to the employees in the appropriate manner
will help to attract morequalified staff to the organization and also
help to retain the existing staff altogether.

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BIBLIOGRAPHY

● KRISHNA ENTERPRISE COMPENSATION MANUAL

● Compnay HR Policy manual

● https://www.indiamart.com/krishnaentp/profile.

● www.citehr.com

● https://resources.workable.com/tutorial/employee-benefits-guide

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