A STUDY ON

WAGES AND SALARY ADMINISTRATION

With reference to

Regency Ceramics Limited, YANAM.

Need for the study:

 Most of the employee s satisfaction and work performance is based on pay.  Internal inequalities in pay are more serious to certain employees.  Employee compare their pay with that of others.  Employee act only to gross external inequalities.  Employees compare the pay of different employees with their skill, knowledge, performance, etc.

Objective of the study:

 To acquired qualified competent personnel.  To retain the present employees.  To secure internal and external equity.  To ensured desired equity.  To ensure desired behavior.  To keep labor and administrative costs in line with the ability of the organization to pay.  To protect in public as progressive employers and to comply with the wage legislations.  To facilitate payroll administration of budgeting and wage and salary control.

Ceramic Industry Highlights:

 The first tiles were produced seven to eight thousand years ago in Holy land.  The Romans introduced tile making in western Europe as they occupied territories.  In fact most modern houses throughout use Ceramic tiles for their bathrooms and kitchens and in every vital area of the premise.  India ranks in top 5 list of countries in terms of tile production in the world.  The main product segments are Wall tile, Floor tile, Vitrified tile and Porcelain tile segments.

Organization profile:
 Regency ceramics is a versatile Ceramic tile company with over 25 years of experience in the art of fine living and is also the largest exporter of Ceramic tiles in India.  The company was established in 1983under the leadership of Dr G.N. Naidu.  The company is committed to a green and healthy environment by implementing product reformulation, process modification, equipment by implementing product reformulation, process modification, equipment redesign, recycling and reuse of materials.  Regency also provides free drinking water to the needy in Yanam as well as Rayalaseema districts of Andhra Pradesh.

Findings:
 Advance and loans are provided by the company for the employees.  The employee in order to draw the increment, satisfactory certificate is to be obtained.  It is clear that the employees get allowances, travelling allowances, incentives and medical schemes etc.  From the total employees, 80% of the employees feel satisfactory about their job security and status.  100% of employees agreed that their wages are paid every month in proper time.  Most of the employees feel fair regarding the insurance coverage adopted by the company.  RCL provides increments and allowances for the employees every year.

Suggestions:
 It is suggested that any changes made in politics or administration should be informed to the employees in advance.  It is suggested that to improve the management attitude towards providing welfare activities and facilities.  Benefits provided to the dependents of the employee in death cases are to be improved.  The annual bonus plan should be revised.  Attendance bonus provided should be increased than the existing.  Half of the employees are feeling that the wages/salary paid by the organization is not fair, so it should be considered to make the employee feel fair regarding the wages/salary paid.  Employees are to be counseled from time to time to improve their quality of work life.

Conclusion:
 The duration of 6 weeks was a lot of learning and pleasure mainly because of guidance and support that I received from Human resource department and other employees of various sections.it has provided me with a rich experience of working with people of different culture, backgrounds & levels, all working cordially in a team.  In RCL, the employees satisfaction level with regards to wages and salary administration is satisfactory, but in a few aspects employees are not fully satisfied with the overall working conditions.

Bibliography:
BOOKS:

     

Human Resource management Human Resource management Human Resource management Human Resource management Human capital Human Factor

P. SUBBARAO ASHWATHAPPA V.S.P. RAO GARY DESSLER

MAGAZINES:

Web sources: www.regencytiles.com www.managementparadise.com www.citehr.com

Thank you