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PROJECT REPORT ON
PAYROLL MANAGEMENT AND WELFARE MEASURES OF HERO CYCLES, BIHTA,
PATNA
Submitted By:
Kumar Anubhav Deep
Masters of Business Administration (MBA)
School of Management Studies, Hyderabad Central University
Hyderabad, Telangana
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ACKNOWLEDGEMENT
Simply put, I could not have done this work without the help and
support I received from the HERO CYCLES, PATNA. Everybody is
very friendly and cheerful and no one could never feel stressed out
or burned out in such a wonderful work culture. First of all I would like
to thank my guide Mr.Nirbhay Singh Nahar (Senior HR Manager)
Hero Cycles, Patna and Mr.Rajesh Kumar (General Manager,
Operations), Hero Cycles, Patna. He supported me throughout the
project with utmost co-operation. I am very much thankful to you sir,
for sparing your precious and valuable time for me and for helping me
in doing this project. I express my gratitude to my faculty guide Dr.
Sapna Singh Mam, Associate Professor, School of Management
Studies, for his valuable guidance, which helped me in preparing this
project report. I place a deep sense of gratitude to my family members
and my friends who have been constant source of inspiration during
the preparation of this project work.
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DECLARATION
This is to certify that the project titled Payroll Management and Welfare
Measures of Hero Cycles, Bihta,Patna has been done and is a bonafide
work completed by Kumar Anubhav Deep(Enrolment Number
14MBMA63), in partial fulfilment of the requirement of the Masters of
Business Administration (MBA).
I hereby declare that this project work is the result of my own efforts which
I made in doing work in the bank and has not copied from any other source.
I have taken help from various sources to gather necessary information to
continue my project and the research on the above topic. Some of the
references from which information is taken are given in the reference
section of this report.
This work has not been submitted earlier at any other university or institute
for the award of the degree.
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Index
Executive Summary.7
Introduction of Hero Cycles11
Hero Group15
Need, Objectives and Limitations of study..24
Review of literature of Hero Cycles .26
Research Methodology of Hero Cycles..43
Analysis and Interpretations................................................46
Payroll and Attendance System in Hero Cycles60
Introduction of Welfare Measures in Hero Cycles.63
Hero Cycles Production Process ...66
Findings and Suggestions.67
Conclusion..71
Bibliography72
Questionnaires.74
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Certificate
This is to certify that the project entitled Payroll Management and
Welfare Measures in Hero Cycles submitted by Kumar Anubhav Deep
in partial fulfilment of the requirements for the award of Master in
Business Administration at University Of Hyderabad is an authentic
work carried out by him under my supervision and guidance.
To the best of my knowledge the matter embodied in the project has not
been submitted to any other university/ institute for the reward of any
degree.
Faculty Guide
(University Of Hyderabad)
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EXECUTIVE SUMMARY
PAYROLL MANAGEMENT IN HERO CYCLES
What is payroll management?
Payroll Management can be defined as the administration of the financial
record of employees' salaries, wages, bonuses, net pay, and deductions.
An employer, regardless of the number of workers they employ, must
maintain all records pertaining to payroll taxes (income tax withholding,
Social Security and federal unemployment tax) for at least four years after
the tax becomes due or is paid, whichever is later. Altogether, 20 different
kinds of employment records must be kept just to satisfy federal
requirements.
Income Tax Withholding Records
1. Name, address, and Social Security number of each employee
2. Amount and date of each payment for compensation
3. Amount of wages subject to withholding in each payment
4. Amount of withholding tax collected from each payment
5. Reason that the taxable amount is less than the total payment
6. Statements relating to employees' nonresident alien status
7. Market value and date of noncash compensation
8. Information about payments made under sick-pay plans
9. Withholding exemption certificates
10. Agreements regarding the voluntary withholding of extra cash
11. Dates and payments to employees for non-business services
12. Statements of tips received by employees
13. Requests for different computation of withholding taxes
Social Security (FICA) Tax Records
1. Amount of each payment subject to FICA tax
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Thus apart from being customer-centric, the Hero Group also provides its
employees with a fine quality of life and its business associates with a total
sense of belonging.
"Engineering Satisfaction" is the prime motive of the Hero Group and it has
become a way of life and a part of the work culture of the Group.
This is what drives the Group to seek newer vistas, adopt faster technology
and create quality driven products to the utmost satisfaction of customers,
partners, dealers and vendors. Today the Hero Group has a number of
accolades and achievements to its credit yet consumer requirements and
newer technologies provide fresh challenges every day, and at Hero the
wheels of progress continue to turn...
Vision
"We, at the Hero Group are continuously striving for synergy between
technology, systems and human resources to provide products and
services that meet the quality, performance, and price aspirations of the
customers. While doing so, we maintain the highest standards of ethics and
societal responsibilities, constantly innovate products and processes, and
develop teams that keeps the momentum going to take the group to
excellence in everything we do."
Mission
"Its our mission to strive for synergy between technology, systems and
human resources, to produce products and services that meet the quality,
performance and price aspirations of our customers. While doing so, we
maintain the highest standards of ethics and societal responsibilities.
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HERO-GROUP
The Hero Group has done business differently right from the inception
and that is what has helped us to achieve break-through in whatever
product category we have ventured in. The Groups low key, but focused,
style of management has earned dealers, as also worldwide recognition.
The growth of the Group through the years has been influenced by the
number of factors. The Hero Group through the Hero Cycles Division was
the first to introduce the concept of just-in-time inventory. The Group
boasts of superb operational efficiencies. Every assembly line worker
operates two machines simultaneously to save time and improve
productivity. The fact that most of the machines are either developed or
fabricated in-house, has resulted in low inventory levels. In Hero Cycles
Limited, the just-in-time inventory principle has been working since the
beginning of production in the unit and is functional even till date. The
vendors bring in the raw material and by the end of the day the finished
product is rolled out of the factory. This is the Japanese style of
production and in India. Hero is the first company to have mastered the
art of the just-in-time (JIT) inventory principle.
The company has fulfilled its social obligation, charged with their mission
nationalistic fervor, the Hero Group has always been actively involved in
Social and Medicare activities, such as providing medical facilities for the
under privileged. Hospitals, Heart Research Foundation and Mobile
Medical Vans help to fulfill this objective. Hero also runs schools and
colleges, maintains parks and public facilities.
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Hero Cycles
Hero Honda Motors
Hero Motors
Hero Corporate Service Limited
(Hero Mindmine, Munjal eSystems, NsurePlus)
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Dr. Lall was the elder brother, and after family property division Cycles
division came under control of the youngest Brother Mr. O.P.Munjal, who
contributed in the following manner:
Mr. O P Munjal, Chairman Hero Cycles Ltd
Date
birth
of
Residing
place
Education
Mr. O P Munjal has been the Chairman of the groups flagship company
Hero Cycles Ltd. He has also been on the Board of Directors of the group
companies, which includes Hero Honda Motors Ltd, Hero Motors Ltd,
Munjal Kiriu India (P) Ltd and ZF Hero Chassis Systems.
Mr. O.P Munjal has been truly a visionary and a first generation
entrepreneur. He has spearheaded the entire initiative of transforming
Hero Cycles from a local player to an international brand. Under his
leadership the groups business and revenues have grown manifolds. Today
the group has emerged as a large conglomerate with diversified interests
and joint ventures with global players.
His contribution to towards the economic and social developments are
briefly
described,
as
under
Economic development
Mr. Munjal started Hero Cycles in 1956 with limited resources and no
technical qualification. He had migrated from Pakistan and set up Bi-cycle
parts unit in Ludhiana. He had before him the formidable challenge of
providing a low cost means of transportation at an affordable cost for the
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Common man the AAM ADMI. He achieved that successfully and today
Hero Cycles features in the Guinness Book of World record for
manufacturing 18500 Bi-cycles daily. Mr. Munjal had pioneered the
concept of, off the assembly line in India and a pull based supply system,
which was sheerly driven by the constraint of capital. Inspite of rapid
industrialization he maintained Hero Cycles as a labour intensive unit since
for him the employees were an extended family. Most of them have joined
and retired from Hero Cycles, which is a no mean achievement.
The growth and prosperity of Hero Cycles was not just restricted to the
promoters but was shared with the vendors, dealers and other associates.
The loyalties developed are mutual and everlasting. Today Ludhiana is
synonymous with Hero Cycles and a large population is dependent either
directly or indirectly on Hero Cycles.
As part of corporate social responsibility Mr. Munjal is known for his
highest contribution to the exchequer of the Punjab State Govt. He has
been accredited with the Samman Patra for his contribution made to the
state
for
several
years.
Social development
The success of a man is too gauged not purely from his wealth/ prosperity
or economic standing but also on what he gave back to society. Mr. Munjal
has made significant contribution to the society by establishing many
schools, colleges / institutions and hospitals benefiting the society at large.
Mr. Munjal has nurtured schools and institutions in and around Ludhiana over 20,000 children gets education every year. There are concessions for
students from economically weaker sections and their employees.
He has set up a world class medical facility in the name of Dayanand
Medical College (DMC). The hospital is equipped with most modern
equipment and facilities. There is a highly experienced/dedicated team of
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His father Bahadurchand owned a small wholesale shop in the village where
farmers grains were sold. A nationalist, OP spent most of his initial days
doing community service until one day his elder brother, Dayanand, asked
him to join the business. That also meant he could not study beyond the 10th
grade.
The family shifted base to Amritsar and then to Ludhiana in 1944, before
Indias Independence in 1947, in search of greener pastures. India needed
affordable mobility for its growing population and the Munjals were quick
to understand that. They set up a business that made bicycle parts, but
wanted to do more. The family won a contract from the Punjab government
to make cycles in 1956.
While BM is often credited with building the group as it exists today, OP
was instrumental in getting the groups fundamentals right.
Brijmohan used to say that people often underestimate his brother and
overestimate him, said Gita Piramal, a business historian and post-doctoral
fellow at Oxford University.
He built the firms distribution network, a rarity in those days.
His role was very important in areas such as accounting and putting systems
in place. Most importantly, he will be remembered for setting up the sales
machinery of Hero Cycles, Sunil Kant Munjal, joint managing director,
Hero MotoCorp, said in a phone interview. Sunil was BMs son.
Both the brothers travelled across India and built relationships with vendors
and dealers that support the family and its business to date.
In fact one story, according to a person who still has business interest with
the family, goes like this: A dealer partner had lost a sizeable chunk of his
business in Jammu when a truck carrying Hero Cycles caught fire. The
remains had no value and the dealer wanted to shut shop.
The family asked him to come with the ashes and returned him the money
that he had paid for the cycles, this person said, requesting anonymity.
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It was gestures like these that helped the family when Japanese automaker
Honda Motor Co. was looking for a local partner to build motorcycles in
India, Sunil Kant Munjal said in a 2013 interview
After they did choose Hero as a partner, we asked them why they picked
our company, he said. The responses were quite interesting. They said four
or five things. They said we like the way you treat your people. Secondly,
they said we like the way you treat your suppliers, which was in some sense
a Japanese thing to do, Sunil Munjal had said.
In 1986 Hero Cycles was recognized by the Guinness Book of World
Records as being the worlds largest maker of bicycles. By now, the B.M.
Munjal family was looking after the then Hero Honda Motors Ltd, the
groups automotive business.
The O.P. Munjal family also tried its hand at the automotive sector, but with
little success. In 1996, Hero Motors partnered with BMW to manufacture
motorcycles in India, but the deal fell through as the Hero Group had a noncompete agreement with Honda.
A partnership with Italys Aprilia to make and sell scooters was called off
after Piaggio and Co. SpA acquired the Italian manufacturer in 2005.
In 2010, Hero MotoCorp Ltd, run by BMs sons Pawan Kant and Sunil Kant,
split with long-time partner Honda Motor Co.
From the time the Munjal brothers set shop in Amritsar to sell bicycle parts,
they have stuck together, said Piramal.
In an attempt to reduce tensions, elders kept young minds busily focused
on work rather than on each other, Piramal said. New companies or
divisions were floated for every incoming blueblood.
Frankly, they believe in a web of relationship, she added.
Until 2011, the larger Munjal family had cross-holdings in each others
companies, but a settlement that year saw these being unwound. Pankaj
Munjal, O.P. Munjals son, now owns most of Hero Cycles.
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Perhaps the reason the Hero Group stayed together when so many business
houses split messily was because they, unlike the Munjals, probably didnt
take relationships as seriously.
We were fortunate that it was done in a very friendly manner and it was
done very proactively, Sunil Munjal said. It is all about the values,
practising the motherhood statements. After all, we all grew up in one house
in Ludhiana.
He is a big loss to the family, group and above all the city of Ludhiana. He
was one of the leaders of the city.
After the death of O.P.Munjal Hero Cycles, world's largest bicycle
manufacturer, has appointed Pankaj Munjal (Son of O.P.Munjal) as its
chairman and managing director. He succeeds the co-founder of Hero
Cycles, Om Prakash Munjal, who led the Ludhiana-based company for more
than 60 years.
Hero Cycles had also recently announced the appointment of Mr K.K. Vij as
Chief Executive Officer. Vij has been earlier associated with Eicher Motors
and Escorts Construction Equipments.
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Need For the study:The following are the needs to do the research at Hero Cycles Ltd.
To check existing system is effective or not and also employees are
satisfied with current system or not.
To measure the satisfaction level of the employees and workers and role
of technology using the software named SAP.
Objectives
To know the role of HR in payroll and the payroll softwares used in the
organization.
To know the basic functions of HR manager in manufacturing plant.
To determine the appropriate working environment for workers in
manufacturing plant.
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be disturbed.
Since its new plant so employees are very limited and duration is limited.
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PURPOSE
Main aim of developing Employee Payroll Management is to provide an
easy way not only to automate all functionalities involved managing
leaves and Payroll for the employees of Company, but also to provide full
functional reports to management of Company with the details about
usage of leave facility and Salaries paid or to be paid to employees.
We are committed to bring the best way of management in the various
forms of EPM. We understand that EPM in not just a product to be sold, it
is a tool to manage the inner operation of Company related to employee
leave and Payroll.
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BENEFITS
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Payroll Methodology
SAP-source is a software-Talent payroll service provider which can take best
of the available software to suite client need.
We can use any payroll software with strong methodical service orientation.
To believe sensitive activity like payroll service is more important than the
tool used.
Execution Objective
To build methodical & service oriented approach in execution of Payroll
as it is a:
sensitive activity and needs to be executed,
Production stage
Stage-I: Analysis
Understand client business
Alignment of outsourcing strategy with the corporate strategy
Assess requirement
Review environment
Confirm viability
Identification of an outsourcing champion
Establishment of clear timelines around the
outsourcing initiative
Stage-II: Transition
Team mobilization (technology & domain)
Training in tools and procedures if required
Hand-over of responsibility to our team
Establishing necessary set-up
Verify per the checklist, if we have received the monthly data in complete
Enter the data in the salary processing software
Data entry validation
Verify if software has given considerations to all exceptions. If not do the
necessary changes manually.
Generate salary working and send variance & monthly report to customer
for verification
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Scope of services
Maintenance and updating of employee information sheet / salary register
Calculation and preparation of monthly salary sheets.
Calculation and deduction of statutory deductions like Provident Fund,
Profession Tax, Income Tax etc. as and when they are applicable.
Calculation of withholding tax, statutory and non-statutory deductions on
salary.
Monthly pay-slips to employees
Quarterly IT report to employees
TDS CERTIFICATES
Issue Form 16 to all employees
TDS RETURNS, Filing of quarterly salary E-TDS returns
Payroll Records: The payroll records are used to store each months hours
worked, and the rates for that month.
Rates: Rates consists of the percentage that would be deducted from the
gross pay depending on union membership status, pension plan, state and
federal tax. Each employee can have a unique hourly rate.
Payroll Ledger: This is a table that shows the calculated pay of employees
and the month in which they earned the pay. The ledger can be filtered by
name, identification number, year and month.
Hours Worked: This is the number of times that an employee work in a
month. The hours worked is used to calculate the pay that an employee will
receive for that month.
Net Pay: The net pay is the final salary amount that would be given to the
employee after all the deductions are subtracted from the gross pay. The
deductions include among others taxes, union member dues and pension
plan.
Gross Pay: The gross pay is the amount that the employee earns before the
deductions are subtracted.
Deductions: Deductions are made up of taxes, union membership dues,
pension plan. They are subtracted from the gross pay to give the net pay
which is the employee's final pay for the month.
Taxes: The taxes consists of the state dues and federal dues. A percentage
of the employee's salary goes to state and country.
Union Membership Dues: This is meant for employees that are union
workers in the company. They get to pay a percentage for union dues. An
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Software Requirement
TURBO C++
MS DOS
WINDOWS XP, WINDOWS 7,8 OR 10
MICROSOFT OFFICE ACCESS
Hardware Requirement
CPU Intel Core 2 Duo E7300
RAM I GB (MINIMUM)
HARD DISK (I60 GB)
OPERATING SYSTEM- WINDOWS XP WITH SERVICE PACK 3 (CHT)
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Administrator module
1. Test case: Login
Input: ID, Password.
Process: Click on the login link. If administrator enters ID and password
correct it goes to the admin services otherwise displays the same page with
an error message.
Output: Displays the admin services page.
Employee modules
1. Test case: Login
Input: ID, Password.
Process: Click on the login link. If Employee enters ID and password correct
it goes to the other page otherwise displays the same page with an error
message.
Output: Displays the Information to be viewed by an employee.
2. Test case: Update profile
Input: Id, Name, Designation, Email-id, Mobile number, Address, key skills,
qualification
Process: The employee can update his profile if any modifications occur in
his details
Output: The details of an employee can be updated
3. Test case: Change password
Input: Id, Old password, new password
Process: Employee can be able to change his password by using this test
case
Output: Employee new password will be updated
4. Test case: View earnings
Input:ID,Month,Year.
Process: The earnings can be displayed by this test case
Output: The total earnings of an employee for the specified month and
year can be viewed
5. Test case: View deductions
Input: Id, Month, Year
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MAJOR DUTIES OF HR
In a manufacturing plant such as hero cycles here are the few major
duties of HR manager:
Ensures timely and accurate preparation of all Institution payroll operations
and works closely with the Human Resources Office to ensure that payroll
actions are in conformance with employment and benefits practices and
accounting procedures.
Oversees preparation of all federal and state payroll tax reports, including
quarterly and year-end returns; determines taxability of non-wage payments
and serves as in-house contact for technical tax compliance issues, including
tax liabilities of foreign nationals.
Interprets Institution employment policies and government regulations in
connection with payroll activities and makes recommendations on
modifications to senior management as appropriate.
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Handles federal and state agency audits and maintains close contact with ITI
and other regulatory agencies to ensure that the Institution has accurate
information and is in compliance.
Maintains all payroll records, reports, computations and audits, including
periodic internal audit tests of labor utilization; works closely with internal
and external auditors to ensure compliance with relevant tax laws and
government regulations.
Interfaces routinely with Human Resources on employee benefits issues
(deductions, retirement payments, etc.) to ensure timely and accurate
processing.
Works closely with Management Information Systems on developing
payroll applications that ensure internal controls and facilitate the
implementation and maintenance of payroll and HR master files.
Provides periodic analysis of payroll and disbursement records to ensure that
adjustments are in accord with management's criteria.
Supervises Payroll Office staff and operations; provides on-going assistance
to Institution employees in tax-related payroll matters.
Participates in business re-engineering activities to support the
establishment and integration of electronic information processes and
principles at the Institution.
Handling conflicts between workers (Conflict Management).
Providing appropriate working environment to the worker for increasing
efficiency of the production.
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DATA COLLECTION:
Data is recorded measure of phenomena. While deciding about the method
of data collection, the researcher should keep in the mind about two types of
data. They are, Primary Data and Secondary Data
Primary data
Primary data represent the first hand raw data that have been specifically
collected for the current research problem. Primary data are raw,
unprocessed and yet to receive any type of meaningful interpretation.
Sources of primary data tend to be the output of conducting some type of
exploratory, descriptive or casual research.
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Secondary data
The secondary data is the historical data previously collected and
assembled for some other research problem. Secondary data can be usually
gathered at faster and economical manner than the primary data. However
the data may not fit in the researchers information need. The secondary data
can be obtained from the libraries, website, published as well as unpublished
documents etc.
LEVEL OPTIONS
NO.OF RESPONDENTS
% OF RESPONDENTS
SATISFIED
45
90
DISSATISFIED
NEUTRAL
Axis Title
70
60
50
45
40
30
20
0
NO.OF RESPONDENTS
% OF RESPONDENTS
10
SATISFIED
45
DISSATISFIED
3
NEUTRAL
2
90
Axis Title
90% of the Employees are satisfied by the software and we need to more focus on
the 6 % dissatisfied and 4% not yet responded.
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LEVEL OPTIONS
NO.OF RESPONDENTS
% OF RESPONDENTS
YES
41
82
NO
18
82
80
70
Axis Title
60
50
41
40
30
18
20
10
0
YES
NO.OF RESPONDENT
41
% OF RESPONDENT
82
NO
18
Axis Title
YES
NO
Among 50 employees 82 % of the employees are satisfied with the software system
helps for future growth that they had improved themselves after the program. 18 %
of the employees are not satisfied with software system helps for future growth.
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LEVEL OPTIONS
NO.OF RESPONDENTS
% OF RESPONDENTS
SATISFIED
45
90
DISSATISFIED
NEUTRAL
10
140
120
100
90
Axis Title
80
60
45
40
20
0
10
0
-20
-40
SATISFIED
DISSATISFIED
NEUTRAL(PASS)
NO.OF RESPONDENTS
45
% OF RESPONDENTS
90
10
Axis Title
90 % of the Employees are satisfied by the software and we need to more focus on
10% not yet responded.
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LEVEL OPTIONS
NO.OF RESPONDENTS
% OF RESPONDENTS
SATISFIED
38
76
DISSATISFIED
12
24
NEUTRAL
80 software for
76 payroll process.
New
70
60
Axis Title
50
40
38
30
24
20
12
10
0
0
SATISFIED
DISSATISFIED
NEUTRAL(PASS)
NO.OF RESPONDENTS
38
12
% OF RESPONDENTS
76
24
Axis Title
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LEVEL OPTIONS
NO.OF RESPONDENTS
% OF RESPONDENTS
SATISFIED
30
60
DISSATISFIED
10
NEUTRAL
15
30
Chart Title
70
60
60
Axis Title
50
40
30
30
30
20
5
10
0
10
SATISFIED
15
DISSATISFIED
NEUTRAL(PASS)
NO.OF RESPONDENTS
30
15
% OF RESPONDENTS
60
10
30
Axis Title
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LEVEL OPTIONS
NO.OF RESPONDENTS
% OF RESPONDENTS
YES
47
94
NO
100
90
80
Axis Title
70
60
50
47
40
30
20
10
0
3
NO.OF RESPONDENTS
% OF RESPONDENTS
YES
47
94
NO
Axis Title
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LEVEL OPTIONS
NO.OF RESPONDENTS
% OF RESPONDENTS
YES
42
84
NO
16
90
80
70
Axis Title
60
50
42
40
30
20
16
8
10
0
NO.OF RESPONDENTS
% OF RESPONDENTS
YES
42
84
NO
16
Axis Title
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84 % of the Employees are satisfied by the clients input records and we need to more
focus on the 16 % dissatisfied.
LEVEL OPTIONS
NO.OF RESPONDENTS
% OF RESPONDENTS
YES
30
60
NO
20
40
70
60
50
Axis Title
40
40
30
30
20
20
10
0
NO.OF RESPONDENTS
% OF RESPONDENTS
YES
30
60
NO
20
40
Axis Title
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The way in which the organization maintains records as per government norms:
LEVEL OPTIONS
NO.OF RESPONDENTS
% OF RESPONDENTS
YES
50
100
NO
120
100
Axis Title
80
60
40
20
NO.OF RESPONDENTS
% OF RESPONDENTS
YES
50
100
NO
Axis Title
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LEVEL OPTIONS
NO.OF RESPONDENTS
% OF RESPONDENTS
YES
46
92
NO
100
90
80
70
Axis Title
60
50
46
40
30
20
8
10
0
4
NO.OF RESPONDENTS
% OF RESPONDENTS
YES
46
92
NO
Axis Title
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Dissatisfied
Neutral/pass
Total
Yes
38
41
No
Total
45
50
S.no
Oi
Ei
(Oi-Ei)2
(Oi-Ei)2
Ei
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38
36.9
1.21
0.0327
2.46
0.2116
0.0860
1.64
0.4096
0.2497
8.1
1.21
0.1493
0.54
0.2116
0.39185
0.36
0.4096
1.1377
Total
50
50
2.04775
CALCULATION:
Degree of freedom (m-1)*(n-1) = (3-1)*(2-1) =2
Tabulated value of D.F=2 @ 5% level of significance is 5.991.
Therefore Ho is accepted because the calculated value is less than
tabulated value.
Hence there is no significant difference between observed frequency and
the expected frequency. Hence the software used in hero cycles is good.
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S.E(r)
= 14-15.76
2.0358
= [-0.8645]
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with confidence in the accuracy of their wage payments all while improving
productivity.
Payroll and attendance systems are essential in hero cycles, because they
enable us to compensate our employees for time worked. Each system has
its own dedicated purposes, but they also go hand-in-hand.
Objectives
A payroll system is the medium that allows you actually pay your
employees. During this process, we calculate wages and deductions based
on the employees pay scale. We also generate paychecks and pay stubs, and
perform direct deposit and payroll tax procedures. Before we get to those
stages, we must figure the amount of hours to compensate employees who
are paid hourly. Our timekeeping system shows each employees daily time
worked and the total hours to pay them for on the upcoming payroll.
Manual Process
If we have only a handful of employees, a manual payroll and attendance
system may work for us. With this system, everything is done by hand.
Employees would complete weekly time sheets, and we will calculate and
verify the time by hand. During payroll processing, we figure wages and
deductions manually and hand-write paychecks. Related duties, such as
keeping records and reporting payroll tax, are also done manually. This
system is prone to errors. If we decide to apply it, a standard punch clock for
timekeeping can be a big help.
Automated System
An automated, or computerized, time clock lets employees clock in and out
via swipe badges, clock cards, finger print or palm print; it depends on the
type of system. It also calculates work hours and rounds the time up and
down so it complies with federal and state rounding rules. Managers and
supervisors track their employees time via the automated system and make
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the necessary adjustments before the time reaches payroll for processing.
This system enable to transport the time into payroll software, which is used
to process the payroll. Payroll software reduces manual calculations,
generates paychecks and pay stubs, and enables direct deposit and annual
W-2 processing. It also stores payroll records and limits filing of hard copies.
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AN INTRODUCTION OF WELFARE
MEASURES OF HERO CYCLES
The oxford Dictionary defines labor welfare as effort to make life worth
living for workers the voluntary efforts of the employers to establish within
the existing industrial system, working and sometimes living and culture
conditions of employees beyond what is required by law and customs of
the industry and conditions of the market. Welfare works covers all the
efforts which employers make for benefit of their employees over and
above the minimum standards of working conditions fixed by the factories
Act and over and above the provisions of social legislators providing against
old
age,
unemployment
and
sickness.
While doing my project I have found various welfare measure taken by HR
Manager of Hero Cycles in manufacturing plant some of them are listed
below:
1. Washing Facility
The Company has provided proper wash rooms to the workers who are
working at different shift hours. There are 10 wash rooms for every 100
workers in the company. They ensure to provide clean and hygiene working
conditions in the company so that workers can put their full effort in all
areas.
2. Canteen Facility
Workers are provided with a separate canteen, where they have their
lunch and other refreshments. There are around 250 workers working in
the plant and in among the two shifts there are nearly 35-40 employees
so the area of canteen has to be big. Considering this point the canteen
provided to them is big in size with the sitting capacity of nearly 500
employees. Canteen prices are also cheap and completely affordable. Tea
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3. Rest Rooms
Proper rest rooms are provided so that the workers can get rest during
the break of 45 mins they get while working in the manufacturing plant.
5. Dispensary
A fully fledged dispensary with a team of 4 medical staff members is there
in the company and an ambulance is available around the clock.
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Results from questionnaire was positive and here are some suggestions
which can be determined after analyzing collected data:
Suggestions
On shop floor worker should be provided with glucose or lemon water
which increases his stamina to work.
Condition of workers canteen and restroom should be improved.
Cleanliness should be maintained in canteen and quality of food should
be provided. Sufficient amount of food should be cooked to meet the
demand of all workers.
Quality circles should be introduced in organization. It will help in
removing day to day work related problems of workers and moreover
workers will feel motivated and sense of belongingness will be
generated when they solve their own problems and increase the
productivity of organizations.
For the welfare of workers monetary and non-monetary rewards and
awards should be provided to workers who completes a certain time of
his tenure.
Proper counseling of workers should be done by supervisors which will
change their perception about work related problems and personal
issues. So proper counseling of workers will help in changing this mind.
A supervisor per shift in charge should be held accountable for a group
of workers their problems, welfare facilities, grievances, motivation
level, participation in activities etc.
Company should lay more stress on taking corrective measures for
safety regarding accidents. Proper training should be provided to
workers; work load should be regulated as per the handling capacity of
the workers so that they do not lose their concentration.
Quality of uniform and shoes should be improved and it should be
designed according to working conditions so that workers do not face
any kind of skin related problem.
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ii.
FINDINGS
1. The effectiveness of the existing software system in HERO CYCLES is
measured by using the following variables:
Software (sap)
Software calculation
Flexibility
Company policies
Client Relation.
2. 90% of the Employees are satisfied by the software and we need to more
focus on the 6 % dissatisfied and 4% not yet responded.
3. Among 50 employees 82 % of the employees are satisfied with the software
system helps for future growth that they had improved themselves after the
program. 18 % of the employees are not satisfied with software system helps
for future growth.
4. 90 % of the Employees are satisfied by the software and we need to more
focus on 10% not yet responded.
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SUGGESTIONS
1. In order to improve the Software skills of employees the
organization should create more awareness and to provide feedback
regularly to the employees about software system.
2. Proper training should be given to the employees, in order to
increase their knowledge about the usefulness of the software
system.
3. Top management shall continually review the software according to
the client requirements, which shall be seen as positive support to
the system by the employees as well as clients.
4. After software testing, if there is any changes, the employees should
be informed by the software technology team.
5. The delivery of clients output should be on time.
6. Latest software should be implemented in future to fight with the
competitors and retain their clients.
7. The company should motivate workers by providing monetary and
non-monetary incentives within the manufacturing plant for
increasing efficiency in production and getting whole hearted efforts
from workers.
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LEARNINGS
It was a wonderful opportunity to be a part of HERO CYCLES PVT.
LTD. It was a great experience to compare the theoretical concepts
of HRM and real work activities. During my stay at HERO CYCLES I
was introduced to a highly efficient work culture where coordination
of cooperation was given utmost priority. This summer training
helped me a lot to gain practical knowledge regarding payroll
management and welfare measures which enriched my view
towards managing the work force and to work within a team. This
training also helped me to handle conflicts between workers
(conflict management) and manage the shifts of workers (shift
management).
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CONCLUSION
1. The study had confirmed that the company is having a good Software
System.
2. From this study, it is found that majority of the workers were satisfied
with Software used and working condition of the manufacturing plant.
3. To make the software system more efficient and excellent, the company
should give importance to the clients and create awareness among
employees and it shall consider some of the ways and means suggested by
the employees like addition of parameters such as short cut for calculation
PF,ESI,TAX,Etc,. Dependability and conducting regular training program
on the software usage.
4. The company should conduct the similar type of research at regular
interval to know the changing softwares and to know about the latest
technology like baan software etc..
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BIBLIOGRAPHY
BOOKS
Fisher shoenfelt Shaw-Human resource management-4th edition-Macmillan
Press limited.
Kothari C.R research Methodology-Methods and techniques (2nd edition)new age International (pvt) limited.
Bratton John and Gold Jeffery (1994)-HRM-Theory and practice, 6th
edition-Macmillan press Limited.
Mamoria C.B-Human Resource Management-Himalaya publishing home,
11th edition 1993.
REFERENCES
Sasmita Polo-National Journal on Personnel Management-VOL-XXII,
No.3, Pg no.16-20
Parveen Ahmed Alan and Mr. Kaushik-Personnel Today-Indian Journal on
personnel management-VOL.XXIX,NO.2, Pg No.13-15.
Prof.Bata.K.Dey-Indian Journal on Personnel Management-VOL XXIXNO.2, pg no. 9-12.
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Websites
WWW.SLIDESHARE.COM
WWW.HEROCYCLES.COM
WWW.CITEHR.COM
WWW.MANAGEMENTPARADISE.COM
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Questionnaires
SAFETY QUESTINNAIRE
Name
__________________
Age
__________________
Department
__________________
Marital status
___________________
No
Q2. Does the organization provide safety training regarding the handling
of machines/equipments related to dangerous operations?
Yes
No
Q3. Does your organization provide you safety equipments for work on
dangerous machines?
Always
Sometimes
Never
satisfactory average
dissatisfactory
highly dissatisfactory
Q5. How frequently do accidents occur in your company?
Very frequently
frequently
sometimes
never
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Q7. Does the company analyze the causes of accidents and take corrective
measures to reduce the number of accidents in future?
Always
sometimes
never
Q8. Does the safety officer take corrective actions in time whenever
needed?
Always
sometimes
never
no
Protection of body
Protection against dangerous fumes
To lift heavy loads/weights
Q10. Would you like to give any suggestion for improvement in the safety
policy?
____________________________________________________________
____________________
Thank You!
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WELFARE QUESTIONNAIRE
Q1. Does the company follow the welfare policy?
Yes
no
Q2. Is the company providing you best services related to the following:Highly agree
Agree
neutral
disagree
highly disagree
good
average
below average
poor
below average
poor
Washing facility
Drinking water
House keeping
For storing clothes
Canteen/lunch rooms
good
average
Quality of food
Prices of food
Cleanliness of canteen
Sitting arrangement
Dissatisfied
Medicines
Periodical checkup
no
Q8. Are there any suggestions that you would like to give regarding labor welfare and
safety policy of Hero Cycle?
_______________________________________________________________________
_____________________
Thank You!
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Dissatisfied
Neutral
NO
3) When do you get complaints regarding the loading of pay sheet into
software? Whether satisfied?
Satisfied
Dissatisfied
Neutral
4) Has the organization defined its payroll process software to meet clients
requirements services?
YES
NO
5) Are you satisfied with the software to calculate the pf, esi etc.?
Satisfied
Dissatisfied
Neutral
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Dissatisfied
Neutral
7) How long you have been using the software? Whether it is satisfied or not?
Satisfied
Dissatisfied
Neutral
NO
NO
NO
11) Whether Supervises Payroll Office staff and operations; provides on-going
assistance to Institution employees in tax-related payroll matters.
YES
NO
NO
13) Whether company maintains all payroll records, reports, computations and
audits, including periodic internal audit tests of labor utilization; works
closely with internal and external auditors to ensure compliance with
relevant tax laws and government regulations.
YES
NO
NO
NO
Thank You!
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