TRAINING REPORT ON THE STUDY OF FRINGE BENEFITS PROVIDED TO EMPLOYEES AT JINDAL SAW LTD.

SUBMITTED IN PARTIAL FULLFILLMENT OF THE REQUIREMENT OF DEGREE IN MASTER OF BUSINESS ADMINISTRATION MAHARSHI DAYANAND UNIVERSITY, ROHTAK (SESSION 2010-12) INSTITUTIONAL GUIDE: Mrs. PARUL KHANNA LECTURER BBA DEPARTEMENT SUBMITTED BY: JATIN GABA MBA-IV SEMESTER ROLL NO: - 10077

KEDARNATH AGGARWAL INSTITUTE OF MANAGEMENT (Affiliated to Maharshi Dayanand University, Rohtak)

PREFACE

Managing human resources in todays dynamic environment is becoming more and more complex as well as important. Recognition of people as a valuable resource in the organization has led to increases trends in employee maintenance, job security, etc My research project deals with l as carried out at Bhart Sanchar Nigam Ltd. (BSNLK). In this report, I have studied &evaluated the fringe benefits process as it is carried out in the company. The first section of my report deals with a detailed company profile. It includes the companys history: its activities and operations, organizational structure, etc. this section attempts to give detailed information about the company and the nature of its functioning. The second section deals with fringe benefits. In this section, I have given a brief conceptual explanation to fringe benefits. It contains the definition, process and significance of fringe benefits. In the third section of my report, I have conducted a research study to evaluate the process of fringe benefits at Bharat Sanchar Nigam Ltd.; this section also contains my findings, conclusions, suggestions and feedback The forth and final section of this report consists of extra information that I related to the main contents of the report. These annexure include some graphs and diagrams relating to the company, graphs relating to the research study and important documents upon which the project is based.

JATIN GABA

ACKNOWLEDGEMENT

This report has been made possible through the direct and indirect co-operation of various persons for whom I wish to express my appreciation and gratitude. My report on PERFORMANCE APPRAISL AT JINDAL SAW LIMITED. (JSL) is based upon the fringe benefits at BSNL, New Delhi. I am thankful to all the team members of HR Department for their hearty cooperation in preparation of this report. It is once again pleasure to acknowledge the kind helps of my guide MISS. NEETU MUNJAL and my friends for the preparation of my project report.

JATIN GABA

Acknowledgement
Preface CHAPTER NUMBER 1. 2. 3.
4.

TOPICS

PAGE NO.

Company Profile Review of Literature Synopsis of the study Analysis of the Existing Systems and Practices of Fringe Benefits Data Analysis and Interpretation Recommendation Suggestion Conclusion Of The Study Annexure a) Questionnaire b) List of the Graphs & Tables c) List of Tables d) Bibliography

5. 6. 7. 8. 9.

INTRODUCTION

TO JINDAL SAW LTD.

Jindal Organisation, set up in 1970 by the steel visionary, Mr. O.P. Jindal, has grown from an In the world of business, the Jindal Organization is a celebrity. Ranked sixth amongst the top Indian Business Houses in terms of assets, the Group today is a US $ 12 Billion conglomerate. Jindal Organization, set up in 1970 by the steel visionary Mr. O.P. Jindal, has grown from an indigenous single-unit steel plant in Hisar, Haryana to the present multi-billion, multi-locational and multiproduct steel conglomerate. The organization is still expanding, integrating, amalgamating and growing. New directions, new objectives... but the Jindal motto remains the same- "We are the Future of Steel ". The group has been technology-driven and has a broad product portfolio. Yet, the focus at Jindal has always been steel. From mining of iron-ore to the manufacturing of value added steel products, Jindal has a pre-eminent position in the flat steel segment in India and is on its way to be a major global player, with its overseas manufacturing facilities and strategic manufacturing and marketing alliances with other world leaders. Jindal Organization aims to be a global player. In pursuance of its objectives, it is committed to maintain world-class quality standards, efficient delivery schedules, competitive price and excellent after sales service. Jindal SAW Ltd. is a part of the USD $ 15 billion O.P. Jindal Group, one of the country's topmost industry houses and the foremost indigenous steel producers and exporters. It started operation in the year 1984, when it became the first company in India to manufacture Submerged Arc Welded (SAW) Pipes using the internationally acclaimed U-O-E technology. Jindal SAW Ltd. is in a commanding position in Indias tubular market, being the undisputed leader with a turnover in excess of Rs. 7500 Crore. With integrated facilities at multiple locations and an ever expanding market opportunity, Jindal SAW Ltd. has diversified from a single product company to a multi-product company, manufacturing large diameter submerged arc pipes and spiral pipes for the energy transportation sector; carbon, alloy and stainless steel seamless pipes and tubes manufactured by conical piercing process used for industrial applications; and Ductile iron (DI) pipes for water and wastewater transportation. Besides these, the company also provides various value added products like pipe coatings, bends and connector castings to its clients. Over the years Jindal SAW has continued to gain the confidence and trust of its stakeholders - from employees, associates, shareholders and people whose lives have benefitted by the company's endeavours. With its vision of sustainable development firmly in place, Jindal SAW has played a leading role in developing livable cities across the world - that in turn has helped transform the lives of people

staying in them. Ensuring timely transportation of oil, gas and water, Jindal SAW helps residents and organizations in numerous cities function efficiently. The pipes produced by the company are energy efficient, reduce dependence on fossil fuels, and help conserve natural resources like water. At the very core of Jindal SAW is imprinted the conviction of never being content with the success attained and it is constantly striving for newer horizons. New boundaries, new challenges and new opportunities keep the company driven to surge ahead. Venturing forward into different areas of businesses with Jindal ITF, the infrastructure arm of Jindal SAW, the company is making rapid progress in urban services sectors with: Water, Wastewater and Solid Waste Management Domestic Transport and Logistics Transportation Equipment Fabrication Having identified the immense potential offered by these sectors for the future, JITF has diversified into five business verticals in these areas: JITF Ecopolis, JITF Aquasource, JITF Vector, JITF Shipyards, and Jindal Rail Infrastructure. Jindal Strips Ltd. India's largest integrated stainless steel plant Jindal Iron & Steel Co. Ltd. India's largest galvanised sheet producer SAW Pipes Ltd. India's largest bare line pipes and coated line pipes producer Jindal Steel & Power Ltd. World's largest coal-based sponge iron plant Jindal Vijayanagar Steel Ltd. World's largest Corex technology based steel plant Jindal Praxair Oxygen Co. Ltd. World's largest air separation facility Jindal Thermal Power Co. Ltd. World's largest Corex gas based power plant

In recent years, Jindal Organisation has identified Information Technology as another growth area and has initiated three new IT ventures. Jindal Transworld Pvt. Ltd. Contact center for telemarketing for B2B, B2C and CRM programs Cross Border IT Ltd. Software development for web-based applications Infovergix Ltd. Networking, IT infrastructure and system integration SAW Pipes Ltd., over the years, has developed into a major global player using the most advanced technologies. State-of-the-art manufacturing facilities have been set-up at: Kosi Kalan (UP), India Mundra (Gujarat), India Nashik (Maharashtra), India Baytown (Texas), USA

CORPORATE VISION OF

JINDAL SAW LTD.

Jindal Saw Nurtures the vision of becoming a major diversify, transnational, integrated energy company with a national leadership and a strong environment conscience playing a national role in pipes and public distribution
The group has expanded and diversified into core sectors, ensuring synergy amongst it's business ventures, spreading over 13 plants in India and the USA. Jindal Strips Ltd. Jindal Iron & Steel Co. Ltd. SAW Pipes Ltd. Jindal Steel & Power Ltd. Jindal Vijayanagar Steel Ltd. India's largest integrated stainless steel plant India's largest galvanised sheet producer India's largest bare line pipes and coated line pipes producer World's largest coal-based sponge iron plant World's largest Corex technology based steel plant

Jindal Praxair Oxygen Co. Ltd. World's largest air separation facility Jindal Thermal Power Co. Ltd. World's largest Corex gas based power plant In recent years, Jindal Organisation has identified Information Technology as another growth area and has initiated three new IT ventures. Jindal Transworld Pvt. Ltd. Cross Border IT Ltd. Infovergix Ltd. Contact center for telemarketing for B2B, B2C and CRM programs Software development for web-based applications Networking, IT infrastructure and system integration

JINDAL SAWS MISSION

To maximize creation of wealth, value and satisfaction for the stakeholders.

 T o attain leadership in developing, adopting and assimilating sates-of-the-art technology for competitive advantage. To provide technology and services through sustained research and development. To foster a culture of participation and innovation of employees growth and contribution. To cultivate high standards of business ethics and Total Quality Management (TQM) for a strong corporate identity and brand equity. To achieve international standards of excellence in all aspects of energy and diversified business with focus on customer delight through value of products, services and cost reduction.

The Genesis Jindal Saw Ltd. is a part of the USD $4 billion Jindal Group, one of the country's topmost industry houses and the foremost indigenous steel producers and exporters. It started operation in the year 1984, when it became the first company in India to manufacture Submerged Arc Welded (SAW) Pipes using the internationally acclaimed U-O-E technology. About Jindal Saw Ltd. (JSL) JSL is one of the country's largest producers of SAW pipes, which is widely used in the energy sector for the transportation of oil and gas. With integrated facilities at multiple locations and an ever expanding market opportunity, JSL has diversified from a single product company to a multiproduct company, manufacturing large diameter submerged arc pipes and spiral pipes and bends for the energy transportation sector; carbon, alloy and stainless steel seamless pipes and tubes manufactured by conical piercing process used for industrial applications; and Ductile iron (DI) pipes for water and sewage transportation. JSL has established itself as a market leader, and a global major in providing total pipe solutions to the industry. Quality at par with the best in the world The company boasts of an inimitable, innovative and process driven business environment with the highest level of quality commitment, which is reassured through the ISO 9001, ISO 14001 and ISO 18001 certifications, amongst others. A Structured Organisation At JSL, the business operations are highly structured with four strategic business units: Large Diameter Pipes, Seamless Tubes, DI (Ductile Iron) Pipes and the US Operations. Every SBU has its own dedicated sales and marketing targets and operations. While the first three SBUs manufacture and market Large Diameter Pipes, Seamless Tubes and Ductile Iron Pipes respectively, the last SBU acts as a dedicated marketing arm catering to the American market. In effect, the US Operations markets the products manufactured by all other SBUs. It also gets raw material converted to finished goods supplied to the US Affiliates under a toll conversion arrangement, and further markets the product in the American market. Besides these, JSL also provides various value added products like pipe coatings, bends and connector castings to its clients. Manufacturing Facilities The state-of-the-art manufacturing facilities of Jindal Saw Ltd. are located at three places in India. The first plant was set up in Kosi Kalan in UP to manufacture SAW Pipes using U-O-E technology. Later, a coating plant was also added here. At Nashik (Maharashtra), the company has one plant, engaged in the manufacture of Seamless pipes. There are two manufacturing bases in Mundra (Gujarat). Mundra-I, which is fully export oriented, has two plants to manufacture SAW Pipes and one plant for coating. Mundra-II, the second base, has three more plants.

Milestones
Founded in 1984 Commissioning of first and only UOE Pipe Mill manufacturing LSAW Pipes in Kosi Kalan, India with a capacity of 250,000 M.T P.A, located about 1200 Kms from nearest west coast port of India API Line Pipe production commences First order for ONGC casing Pipe completed Three major offshore projects awarded by ONGC under international competitive bidding - Italian and Japanese being L2 and L3 bidders Seamless Pipes and Tubes Division commissioned at Nashik. First Coating plant commissioned at Kosi Kalan Received first export order First Induction bending plant commissioned at Kosi Kalan Commissioning of second LSAW pipe manufacturing facility as 100% export oriented unit using JCO forming process at Nanakapaya, Mundra to meet the export market with a capacity of 300,000 MT per annum close to Port Mundra The first major private port on west coast of India. Internal coating plant commissioned at Kosi Kalan Commissioning of second Coating plant at Nanakapaya Port Mundra Concrete weight coating plant commissioned at Nanakapaya Port Mundra

Commissioning of third Coating plant at Samaghogha, Mundra Commissioning of third Pipe mill manufacturing LSAW Pipe using JCO forming process in Samaghogha, Mundra with a capacity of 250,000 MT per annum. Commissioning of fourth Pipe mill manufacturing HSAW (Spiral) Pipe at Samaghogha, Mundra with capacity of 150,000 MT per annum Start up of Integrated Pipe Unit Ductile Iron Pipe manufacturing plant of 200,000 capacity along with Blast Furnace of 250,000 MT per annum capacity and a Coke Oven plant Commissioning of fifth & sixth Pipe mill manufacturing HSAW (Spiral) pipe at Bellary - Karnataka and Samaghogha-Mundra with a combined capacity of 390,000 MT per annum. Second Induction bending plant commissioned at Samaghogha, Mundra Commissioning of seventh Pipe mill manufacturing LSAW using JCO forming in Nanakapaya - Port Mundra with capacity of 300,000 MT per annum

Jindal Saw Ltd. firmly believes that the essence of corporate governance is based on three key aspects:

Integrity & Fairness

The management's freedom should be exercised within a framework of checks and balances. Accordingly, the Company will conduct its affairs in a manner that ensures fairness to all stakeholders, both internal as well as external. To this end, the Company has formulated ethical standards and evolved processes and methodologies that prevent the misuse of power and facilitate fair and effective management.

Code of Conduct
Company has evolved the following code of conduct for its Directors and senior management:

Transparency & Disclosure

The Company believes that transparency means that all the policies, decisions and actions are clearly explained to those to whom the Company is responsible, in particular, those who are affected by such policies, decisions and actions. Accordingly, such transparency is implemented through proper disclosures, at the same time ensuring that the Company's strategic interests are not jeopardised. In practice, this is achieved through strong MIS, robust internal controls, an active audit committee and strict adherence to procedures by the Board of Directors.

Accountability & Responsibility

The executive management of the Company is accountable to the Board of Directors, which in turn is accountable to shareholders and other stakeholders, including customers, employees, vendors, creditors, and to society and the general public at large. The Company also believes that high levels of accountability are ensured by vesting decision-making powers at appropriate levels of the organisational hierarchy. Hence, empowerment is an integral part of the Company's philosophy of corporate governance. At Jindal Saw Ltd., the principle of corporate governance is based on two core aspects: 1. The management must be given the executive freedom to drive the Company forward, towards its goals, objectives and vision, without undue restraints 2. This freedom of management must be exercised prudently within a framework of effective accountability

Domestic Clients
Assam Gas Co. Ltd. Hindustan Petroleum Co. Ltd.

Bharat Petroleum Corpn. Ltd. Indian Oil Co. Ltd.

British Gas Indraprastha Gas Ltd.

Cairn Energy Ltd. Larsen & Toubro

Dodsal Ltd. Mahanagar Gas Ltd.

Engineers India Ltd.

Oil & Natural Gas Co. Ltd.

Essar Construction Ltd.

Oil India Ltd.

International Clients

AGIPGasBV, (Libya)

Petroleum Develoopment Omam, Omam

PTTE&P, Thailand AGIPOilCompany (Libya)

Qatar Petroleum, Qatar BechtelIntec Consortium, UK Repsol Oil Operations

Saipem (Italy) Burullus Gas Co., Egypt

Saipem / CCC JV, Omam ChinaNational PetroleumCompany

(China) EastGasCompany (Egypt)

SaudiArabianOilCo. (Saudi Arabia)

FIMCO F2E, Iran

Shell Petrleum Development Company (Nigeria)

Shell, Brunie Gasco (Egypt)

Hyundai Heavy Inds. Ltd, Korea

Shell, The Netherlands

Iranian Offshore Oil Co. (IOOC), Iran

SichuanPetroleum Administratiion(China)

FINANCIAL PERFORMANCE
1. FINANCIAL RESULTS Particulars For the year P 2010 - 11 (Rs. in lacs) 1,12,330.12 13,804.22 3,866.91 2,188.33 7,748.98 2,124.82 5,624.16 9,435.07 ________ 15,059.23 275.00 750.00 1,000.00 43.00 974.48 124.86 9,435.07 For the year 2009 - 10 (Rs. in lacs) 80,495.90 16,094.63 3,813.58 1,842.47 10,438.58 2,830.89 7,607.69 4,994.72 ________ 12,602.41

Gross Sales & Income from Operations Profit before Interest and Depreciation Less: - Interest - Depreciation Profit before tax Provision for Income Tax and Wealth Tax Net Profit after tax Add:Balance brought forward from previous Year

Total amount available for appropriation Less : Appropriations: (a) Debenture Redemption Reserve 187.50 (b) Capital Redemption Reserve (c) Transfer to General Reserve 1,000.00 (d) Interim Dividend on Preference Shares paid (e) Proposed Dividend: - on Equity Shares 974.48 (f) Corporate Tax on proposed dividend 127.35 Balance carried to Balance Sheet 12,769.90

TECHNICAL PERFORMANCE
Serving the Oil and Gas Sector for two decades Early 80's SAW Pipes Limited, India is born..... India's first long seam, U-O-E pipe manufacturing unit established Producing 16" - 36" OD pipes upto Grade X-65 with initial capacity, of 0.1million MT/ Annum Meeting small to medium size requirement of the country in the line Pipes segment Providing world class quality and gearing to expand... The 90's Era of expansion and integration...... Capacity expansion from 100,000 MT/ Annum to 1.0 million MT/ Annum SAW Pipes, takes on orders of large stature both in the international and the domestic market. New plants for Three layer Polyethylene / Polypropylene, Fusion Bond Epoxy coal tar enamel and concrete weight coating established. New pipe plant and Steel Mill facilities established in the USA to facilitate business in the international market. Long Radius Bends and Connector Casing fabrication started SAW Pipes becomes "Total Pipe Solutions" provider.

Turn of the Millenium, 2000.... Focus on exports...... New Pipe plants established at port location on the west coast of India to cater to the increasing export demands Constant strategising and a vision for perfection, SAW Pipes surges ahead creating a global footprint Product range increases to 16 inch OD to 56 inch OD upto grade X-80 Manufacturing capacities grow to 1.5 million MT/ Annum of Line Pipes 12 million sqm/ Annum of Coatin

SAW PIPES LIMITED Winning starts with beginning In every phenomenon the beginning always remains the most notable moment. Saw Pipes Limited began its glorious journey to success in the year 1984, when it became the first company in India to manufacture Submerged Arc Welded (SAW) Pipes using U-O-E technology. As a part of the $3 billion Jindal organization, the forerunners in Indigenous steel industry, SPL has established itself as a market leader and a global major in providing total pipe solutions to the industry. Our innovative and process driven business environment, backed by the state of the art manufacturing facilities in India and USA have helped us create a business with complete backward and forward integration, that promises immense growth. Today Saw Pipes Limited enjoys a market leadership in manufacturing large diameter Submerged Arc Welded line pipes used for energy transportation. Since its inception, SPL has pioneered and perfected the art of pipe making using U-OE and J-C-O technology and has evolved into one of the most preferred and reliable providers of value in all of its businesses. With a wide product portfolio, dedicated work force, state of the art technology and enormous capacities, we continue to stride ahead with readiness and responsibility to rewrite our saga of success yet again. Our work, a presentation of our Capabilities At Saw Pipes Limited we feel that the greatest reward for doing anything, is the opportunity to do more. Providing our clients with the best of products that cover a wide range of applications has been a constant endeavor at SPL. Thus reinforcing our positioning of Total Pipe Solutions company. One more step in this direction is our project for production of Ductile Iron (DI) & Cast Iron (CI) pipes for Water and Sewage transportation at Mundra. Our expanded portfolio now includes Large diameter submerged arc welded pipes Carbon, alloy and stainless steel seamless pipes manufactured by conical piercing process Spiral pipes and steel bends for energy transportation sector Cast Iron & Ductile Iron Pipes (CIDI) for water and sewage transportation. Besides these state of the art products, we also offer value added services like anti corrosion coatings, concrete weight coatings for offshore applications, long radius bends and connector casings for drilling operations and connecting the pipelines. We are the only company in India to have world-renowned NACE Lab to test the material used in manufacturing of pipes meant for sour gas/ crude transportation. US Operations Jindal United Steel mill rolls hot-rolled plate widths up to 160 inches (4.1m) and thickness up to four inches (102mm). We service shipyards, oilfield fabricators, heavy equipment producers, machinery makers, and many other end users and distributors who need high quality carbon plate. Using quality plate from Jindal United and other Suppliers, the SAW Pipes USA mill produces DSAW pipe to service energy and petrochemical markets, including large diameter line pipe for onshore and offshore use, heavy-duty casing, and piling. Strategically located in Baytown, Texas, just 30 miles outside Houston, The facilities are ideally suited to serve the needs of the global energy and petrochemicals industry and as affiliates of Saw Pipes Limited, the Texas Works plants

benefit from the parent organization s world-class engineering expertise and product know-how. The Nucleus of Creation Our State of the Art manufacturing plants are the hubs that produce quality and innovation combined together with products made, as per clients requirement and specifications. Located at Kosi Kalan (Uttar Pradesh), Mundra (Gujarat), Nashik (Maharashtra) and Baytown (Texas, USA) all our manufacturing plants specialize in their own areas of manufacturing and have dedicated coating plants.

BOARD OF DIRECTORS:

At present the strength of Board of Directors is 9 whose composition is given below: Name of Director Smt.savitri jindal Shri P.R. Jindal Shri indresh batra Ms sminu jindal Shri Devi Dayal Shri sk gupta Shri kuldeep bhargava Shri hs choudhary Dr rajkamal aggarwal Status chairperson vice chairman managing director managing director director director director whole time director director

INTRODUCTION TO HUMAN RESOURCES

As we know that human resources relates to the HRM is an art of utilizing human resources in order to accomplish desired result through application of behavioral sciences. It encompasses of planning, organizing, directing, controlling the functions of procurement, development, maintenance and utilization of workforce to attain objective more economically and effectively. HR in an independent discipline formed by conglomeration of sociology , psychology , political science and others. HRM is regarded by some personnel managers as just a set of initiatives. Human resource been the key factor in an industry or an organization has to be major concern to the top management since its contributes to a great extent for the attainment of the business objectives. The main function of HRD is to incorporate various systems and instruments for the development of an organization setup, to create and sustain the work culture. The organization has decided to set on data-based feedback for the implementation of the system and develop competent personnel needed at various levels. They analyze organizational practices from the point view of the HRD and also suggests the way of advancing Humanization & its Effectiveness on the organization. HRD determines formal and informal job description used for staffing purpose as well as for other HR activities, strategic and coherent approach to the management of an organizations people contributing towards the attainment of the business objectives. It involves the set of interrelated policies and forms a business focused approach to manage people for the competitive advantages. HR is the continuing process of the personnel management. Its objective is to accomplish maximum individual development , desirable working relationship between employers and employees and also effective molding of the human resources as contrary to the physical resources. HR refers to the practices and policies we need to carry out the people or personnel aspects of management job . They includes Conducting job analysis. Planning labor needs and Recruiting candidates. Selecting job candidates. Orientation and Training new employees. Managing wages and salaries. Providing incentives & Benefits. Appraisal performance. Communicating. Training and Development Building employees commitment.

FRINGE BENEFITS
Meaning
These benefits are usually known as Fringe Benefits as they are offered by the employer to the employee as a fringe. Different terms have been used for these benefits, such as WELFARE EXPENSES, WAGE SUPPLEMENTS, and SUBWAGES etc.

Definition
The Glossary of Current Industrial Relations and Wage Terms has defined fringe benefits as Supplement to wages received by workers at a cost to employers. The term encompasses a no. of benefits- paid vacation, pension, health and insurance plans etc.which usually add up to some thing more than a fringe, and is sometimes applied to practice that may constitute a dubious benefit for workers.

Features
Fringe benefits are those payments or benefits, which a worker enjoys in addition to the wages or salary he receives. These benefits are given to stimulate workers interest in their work and to make their job more attractive and productive for them. Fringe benefits represents a labour costs for an employer, for it is an expenditure which he incurs on supplementing the avg. money rates due to his employees who have been engaged on the basis of time schedules. Fringe benefits are offered on the basis of length of service, sickness, sex, the hazards of life the worker encounters in the course of his work. To be termed a fringe benefit, a labour cost should be intended by an employer as a benefit desired by its staff. A fringe must constitute a positive cost to the employer and should be incurred to finance an employee benefit.

Need / Importance
An org. designs and establishes a benefit-and-service program to achieve the following ends: To keep in line with the prevailing practices of offering benefits and services which are given by similar concerns. To recruit and retain the best personnel. To provide for the needs of employees and protect them against certain hazards of life To increase and improve employee morale and create a helpful and a positive attitude on the part of workers towards their employees. To make the org.. a dominant influence in the lives of its employees with a view to gain their loyalty and cooperation, encouraging them to greater productive efforts.

 To recognize the official trade unions bargaining strength.

Types of Benefits
(a) Employee security payments Employees contribution stipulated in legal enactment: old age, survivor, disability, health and unemployment insurance. Payment under Workmens Compensation Act. Supplemental unemployment benefits. Accident insurance Pensions Contribution to savings plan and health and welfare funds. (b) Payment for time not worked Rest periods Holidays Vacations Sick leave Severance pay Leave of absence Pension programs Insurance (c) Bonus and awards Overtime Shift payments Attendance bonus Festival bonus Suggestion awards

Types of Services
Services related to type of work performed Eating facilities Transport facilities Child care facilities Housing facilities Financial and legal services Purchasing services Educational services Medical services Outplacement services

FRINGE BENEFITS
To many people compensation means pay. Anything else an employer might provide is often considered so minor that it is a fringe benefit . However in recent years, fringe benefits have grown to become a major part of the employee compensation and employer labor cost. Some of the fringe benefits are listed here Group Life Insurance, Supplemental Life Insurance, accidental death and dismemberment insurance, voluntary short-term disability plan, long term disability plan, medical insurance, dental insurance, stock purchase plan, tuition reimbursement, holidays, company subsidized cafeteria, profit sharing retirement plan, free parking, rest breaks etc. Most of these benefits and services are fully paid for by the company. Employee benefits and services seek to satisfy Societal, Organizational and Employee objective. I.

SOCIETAL OBJECTIVE
To solve social problems and to provide security for interdependent wage earner, government rely on the support of the employers. Through favorable tax treatment, employees can receive most benefits tax free ,while employers can deduct the cost of benefit as a regular business expense. Although government tax collections are reduced by these text breaks, these health care, disability, life insurance and retirement benefit reduce the burden on government and charitable agencies when ill health , death or retirement occur.

II.

ORGANISATIONAL OBJECTIVE
From these large outlays for fringe benefits, what do employers gain ? Companies must offer some of the fringe benefits if they are to recruit successfully in the labor market. If they do not offer health insurance and paid vacations, recruits and present employees would work for some other company or its competitor company. Similarly many employees will stay with the company because they do not want to give up the benefits, and so employee turnover is lowered.

Vacations along with holidays and rest breaks, help employees reduce fatigue and many enhance productivity during the hours the employees do work. Similarly, retirement, health care and disability benefits may allow workers to be more productive by freeing them of concern about medical and retirement costs. Like-wise, if these benefits were not available, employees might elect to form a union and collectively bargain with the employer. Therefore, it is accurate to state that indirect compensation may:1. Reduce fatigue 2. Discourage labour unrest 3. Satisfy employer 4. Aid recruitment 5. Reduce turn-over 6. Minimise overtime

III.

EMPLOYEE OBJECTIVE
Employees usually seek employer provided benefits and services because of the lower cost and availability, for example company insurance benefits, usually are less expensive because the employer may pay some or all of the cost. Even when the workers must pay the entire premium, it is still less expensive because the group plans save the insurer cost of administering and selling many individual policy. Lower income taxes are another employee objective. For some employees, there primary objective may be to obtain benefits and services, especially health care and life insurance. Without employer provided insurance, these policies may be obtainable or unaffordable if the employee has a pre-existing medical condition. The objective of societal, organizational and employee have encouraged rapid growth of benefits and services. This growth has affected all areas of fringe benefits and services including insurance, security, time of and work scheduling benefits.

HEALTH RELATED INSURANCE

Insurance benefits spread the financial risks encountered by employees and their families. These risks are shared by pooling funds in the form of insurance premiums. Then, when insured risk occur, the covered employees or their families are compensated. Health related insurance coverage is the most common form of insurance provided by the employer. In one survey of 994 companies, reported making payments for health insurance.

MEDICAL INSURANCE
Medical insurance pays for sickness, accidents and hospitalization expenses.

DENTAL INSURANCE
Dental insurance benefit plans for the most preventive care and for a portion of needed dental work, sometimes, including false teeth and brace.

LIFE INSURANCE
Life insurance was the first form of insurance offered to workers by employer. As a result, Group Life Insurance (GLI) has become a practically universal element in corporate employee benefit program. In the majority of firms, the amount of life insurance is a multiple of employees salary.

SYNOPSIS OF THE STUDY

THE TITLE OF THE PROJECT
The title of the project is FRINGE BENEFITS had been completed in JINDAL SAW LTD with in gurgaon region.

THE OBJECTIVE OF THE PROJECT

The basic objective of the project is as follows: To know the employees satisfaction level about the Fringe Benefits. To critically analyze the functioning of the Fringe Benefits.given to employees. To identify the probable areas of improvement to make Fringe Benefits Schemes more effective.

SCOPE OF STUDY
The scope of study was confined to the Module 1 of JINDAL SAW LTD., Gurgaon. The benefit of the company is that through this study the company can improve and modify its Fringe Benefits.Schemes. The benefit of the study for the researcher is that it helped to gain knowledge and experience and also provided the opportunity to study and understand the prevalent Fringe Benefits.given to employees.

RESEARCH METHODOLOGY
RESEARCH PROBLEM
To identify and analyze the factors that can be linked with the HR Department of the JINDAL SAW LTD. to improve the efficiency and effectiveness of the Fringe Benefits given to employees.

THE SCOPE OF THE STUDY

The study will be conducted at JINDAL SAW LTD. The whole Fringe Benefits given are taken under consideration irrespective whether they belong to Managerial level or Working level.

THE SIZE OF THE REPRESENTATIVE SAMPLE

The size of the representative sample of the 1000would be 10% of the Managerial as well as Non-managerial level of JINDAL SAW LTD.

THE METHOD OF SELECTING REPRESENTATIVE SAMPLE

The Selection of the representative sample will be based on Random Sampling. The whole of the personnel in the HR Department are taken into consideration in this study.

METHOD OF DATA COLLECTION

For the study of Fringe Benefits at JINDAL SAW LTD. PRIMARY DATA are used. The data was collected with the help of different sources such as: PRIMARY DATA: QUESTIONNAIRES. INTERVIEWS. OBSERVATIONS. INFORMATION FROM CORRESPONDENTS.etc

SECONDARY DATA :For the study of Fringe Benefits SECONDARY DATA are used. HR Department of JINDAL SAW LTD. provided these data and data was collected from certain references books. The SECONDARY DATA includes both Published as well as Unpublished sources: . BROCHURES. JOURNALS. COMPANY MAGAZINES, RECORDS. ANNUAL REPORTS .etc

LIMITATIONS

Even though every effort has been done to minimize the variation and present a factual picture with the help of statistical method, but still there are some limitations :Due to less time or time factor is play an important role in the report making two month is not enough to complete the whole project Money is the another constraint in making of the whole complete project Certain important information was kept secret. This is because of the reason certain hypothesis were taken. The respondent may not have marked all responses honestly so that the collected data may be not fully accurate. Peoples working in the organization are very cooperative but due to busy schedule of the HR officers they were not able to give more time &attention.

GRATUITY
Short title and application
These rules may be called JINDAL SAW LTD. Gratuity Rules and shall be deemed to have come into force from the dates hereunder: Non-officers -- 30th May, 1973

Definitions
a) Emoluments shall mean full pay which term includes basic pay, dearness allowance, special pay, personal pay and non-practicing allowance admissible immediately preceding the date of separation from service. b) Family shall include the following: i) Wife , husband, sons, daughter, father, mother, unmarried brothers.

Eligibility An employee who was in service of the Corporation on the date of applicability of these rules or thereafter will be eligible for the benefits under the scheme and these rules.

 Rates
Subject to other provisions of the scheme and these rules, gratuity will be paid to all categories of employees @ 15/26 of the monthly emoluments for every completed year of service or part thereof in excess of 6 months subject to a maximum of 16-1/2 times the monthly emoluments or RS. 1 Lakh, whichever is less.

Gratuity for the residual portion of services less than a year will be payable as under: Service period More than six months 6 months Less than 6 months Entitlement @ 15/26 of the monthly wages @ 15/52 of the monthly wages Nil

Benefits
Gratuity will be payable in various contingencies to the extent and subject to the conditions indicated below:

a)

In case of death of employees in the service, the amount of gratuity will be as per the normal provisions as outlined in the sub-clause 26.3.2.4 or as worked out below, whichever is more. During 1st year of service After 1 year but before 5 years service -2 months emoluments -6 months emoluments

After completion of 5 years service but before 20 years service

-12 months emoluments

Service of 20 years or more

Half

months

emoluments

for completed Half year of qualifying service subject to a maximum of 33 times the emoluments provided the amount of death gratuity shall in no case exceed Rs. 1 Lakh. b) In case of permanent mental or physical disability, gratuity will be paid as following: i) ii) iii) If the service is less than one year, gratuity will be equivalent to 4 monthly emoluments If the service is one year or more, but less than 5 years, gratuity will be equivalent to six monthly emoluments. If the service is 5 years of more gratuity will be payable equivalent to 10 monthly emoluments or at the normal rate of 15/26 of monthly emoluments for each completed year of service. c) Gratuity will be paid at the rate and subject to the conditions mentioned above in the following cases: i) Resignation or voluntary retirement or termination from service under the contract of employment provided the service of the employee is 5 years or more. ii) In the case of Government servants who are on deputation and are absorbed in the Corporations service, previous service with the Government will be counted for computing the minimum qualifying service for determining eligibility to gratuity under the Corporations Gratuity Rules.

iii)

The total of gratuity received by the employee from the Government and that payable by the Corporation does not exceed the amount of maximum gratuity admissible under the Corporations Gratuity Rules.

d)

In case of termination, discharge or dismissal as a measure of disciplinary action, payment of gratuity will be regulated as follows: i) ii) If the service is less than 10 years, no gratuity is payable. If the service is 10 years or more but less than 15 years, gratuity will be paid @ th of the amount payable.

iii)

If the service is 15 years or more, gratuity will be paid @ mentioned above.

e)

Effective from 1.10. 1982, an employee who resigns from his service with the Corporation and joins another Govt Deptt., transfer of gratuity amount can be effected even if the employee has not completed the minimum eligibility period of 5 years. However, such transfer will be effected to the Govt. Deptt in which the employee has joined after resigning from the service of the Corporation subject to the condition that: i) ii) Such Govt. deptt. agrees to accept the gratuity transfer and make payment to the employee when he leaves it; and In case the gratuity amount is not ultimately paid to the employee concerned for any reason whatsoever, the transferred amount shall be paid back to the Corporation.

Compassionate Gratuity Rules

 In

addition

to

normal

gratuity,

compassionate

gratuity

may

be

paid

when co. is satisfied that the death of an employee has left his family in straitened circumstances. The amount of compassionate gratuity will be half months pay for each year of service subject to a maximum of 12 months pay and minimum of 10 months pay For the purpose of determining the amount of compassionate gratuity, pay means basic pay last drawn and will not include dearness allowance ,city compensatory allowance or house rent allowance, but will include officiating allowance if it had been drawn by an employee for a period of at least 12 months immediately preceding death.

GROUP

SAVINGS-

LINKED

INSURANCE/DOUBLE

ACCIDENT BENEFIT SCHEME

LIC have formulated a Group Savings- Linked Insurance Scheme for employees of public sector undertakings .The scheme has also been introduce in JINDAL SAW LTD. Under the scheme a part of monthly income payable is charged for risk coverage of life and the remaining amount is kept in savings account earning interest at pre-determined rates compounded on yearly basis .The premium are payable by the member employee through the employer by deductions from monthly salaries. The scheme is intended to provide the member employees the twin benefits of an insurance cover to help their families in the event of death in service and a lump sum payment to augment their resources after attaining the age of superannuation. About 1/3rd of the monthly premium is contributed towards risk cover and the balance 2/3rd is put by LIC in a savings account earning interest.

Eligibility
a) b) Employees in regular scales of pay of the employer are eligible All future employees shall join the scheme on the relevant entry dates as soon as they satisfy the condition of eligibility.

 Contributions
Every member shall pay a monthly contribution .The commencement shall commence on entry date and continue untill the terminal date or otherwise as specified in the rules.

The employer shall recover the contribution in respect of all the members from their salaries and remit the same in full on the due date i.e. on the 20th of each month to the corporation for providing benefits in accordance with the rules.

Benefits
On the death of the member before the terminal date. The life assurance benefit as mentioned here under shall become payable to the beneficiary of the member employee: GROUP I II III IV INSURED AMOUNT RS 1,00,000 RS 75,000 RS 50,000 RS 25,000

On reaching terminal date or on earlier cessation of service other than death

The total amount to the credit of the member in the running account as shall be determined by the Corporation having regard to the entry date, the amounts credited to the running account from time to time, the rate of interest and the date of exit shall become payable to the member.

Change In Category On Promotion/ Appointment

When an employee in lower category is promoted /appointed to higher category, the change in the amount of insurance cover and the increase in his monthly subscription shall take effect only on the following annual renewal date for which correspondingly necessary changes may be incorporated in the promotion/appointment orders.

Procedure For Payment To LIC

a) JINDAL SAW LTD. makes the payment to LIC every month in advance but before 20th of the following month. With a view to ensure simplicity, Finance, R&P shall give the debit note to the units at the time of releasing payment to LIC based on the number of member officers intimated by the units.

GROUP INSURANCE SCHEME

The LIC Group Insurance Scheme for employees of JINDAL SAW LTD. is designed to provide insurance protection in the event of premature death while in active service.

The scheme is in lieu of the benefits envisaged under the Employees Deposit Linked Insurance Scheme, 1980 (subsequently amended in May,1990).

Eligibility
The employees of the employer who are within the following category shall be eligible to join the scheme: i) Employees in the regular scales of pay of the employer are eligible to join the scheme.

ii)

All future employees shall become members of the scheme on the relevant entry dates.

No members shall withdraw his membership from the scheme as long as he satisfies the conditions of eligibility.

Premium
The Company shall pay to the Corporation in respect of each member on the entry date and the relevant annual renewal dates such premiums as are required to secure the benefits under the assurance affected on his life in accordance with these rules.

Assurances
On the entry date, an assurance shall be affected on the life of each member under One Year Renewable Group Term Assurance Plan for a sum assured equal to 000 Rs .27,

Benefits on death while in service

Upon the death member whilst in service, the sum assured under the assurance shall become payable to the nominee by the Corporation.

 Termination of assurance
The assurance on the life of a member shall immediately terminate upon the member ceasing to be regular employee of the employer. The Corporation will immediately intimate the appropriate action.

Discontinuance or amendment of the scheme

The Company reserves the right to discontinue the scheme or to amend the rules thereof on any annual renewal date, subject to 3 months notice being given to the

Corporation provided that the scheme may be discontinued or the rules amended only after obtaining the prior approval of the appropriate Government Authority.

Rates of premium and conditions of assurance

The rates of premium and conditions of assurance under which the Corporation is prepared to arrange the scheme shall be subject to an agreement between the company and the Corporation, The conditions of assurance and rates of premium may be modified by the Corporation from time to time on any annual renewal date, subject to 3 months notice being given to the Company.

Post- Retirement Medical Attendance Facility

The scheme of medical attendance facility during post- retirement period has been introduced with effect from 01.01.1985 for officers and 01.11.1988 for non-officers (as amended from time to time). As a purely welfare measure, the scheme is aimed at providing medical attendance, in their old age, to eligible employees of the Corporation (And/or their dependent spouse) who superannuate/voluntarily retire/resign or are retrenched after putting in satisfactory and long service with the corporation. The scheme is contributory but voluntary. The details of the schemes are given below.

SCHEME FOR PROVIDING POST-RETIREMENT MEDICAL ATTENDANCE FACILITY FOR OFFICERS Eligibilty
Within the overall framework of the rules and regulations of the Medical Rules of the Corporation, the facility of post-retirement medical attendance will be admissible to the following categories of officers on a contributory and voluntary bases: i) Those who retire from the service of the---- on reaching the age of superannuation, subject to rendering minimum service for 10 years in JINDAL SAW LTD. ii)Those who prematurely/voluntarily retire from the service of the Corporation after attaining the age of 50 years, subject to rendering minimum service for 10 years in IOC and/or with Government and/or in organisations in the Public Sector.

iii) Those who resign from the services, with specific consent of the corporation, after attaining the age of 50 years subject to rendering minimum service for 20 years. iv) Those who relinquish charge as whole-time Director of the Corporation at Board level after rendering minimum service for a term of the tenure appointment provided one of the conditions at (i), (ii) and (iii) above is met.

Contribution
The facility of post-retirement medical attendance will operate on a contributory and voluntary basis. An officer, depending upon the category to which he belongs at the time of cessation of service, will be required to make a one-time non-refundable lumpsum contribution (effective from---), as indicated below, so as to become eligible for the benefits under this scheme 1894. Group I Group II Group III (Officers in Grade A) (Officers in Grade B, C & D) (Offices in Grade E and above) Rs. 2,250 Rs. 2,750 Rs. 3,250 Rs. 3,250

Chairman/Functional Director

The lump sum contribution will be payable by the officer in advance, prior to cessation of service in the Corporation. Where both husband and wife are employees of the Corporation, the contribution towards membership under the scheme would be payable by one of them only. In that event, upon superannuation, the spouse who retires later would not be enrolled under the scheme independently. The medical benefits would be, as in other cases, restricted to the prescribed ceilings for the member and the other being covered as the spouse. However, in case it is considered beneficial, option may be exercised jointly by both ex-employees (husband and wife) and the differential amount paid, at the time of superannuation of the latter, to convert the existing membership in the name of the one who was superannuated last. In case the member/spouse is hospitalised, it would be a pre-requisite to notify Management at the earlies.

 In case of domiciliary medical attendance, i.e. medical attendance received otherwise than during hospitalisation in recognised as well as other hospitals, the reimbursement will be made for every block of 2 years limited to the following m maximum limits per financial year (w.e.f. 01.01.1990). Group I Group II Group III Chairman/Functional Director Rs. 2,700 Rs. 4,000 Rs. 5,400 Rs. 8,000

The above limits for reimbursement of expenses on domiciliary medical attendance will operate within the overall limit for reimbursement of expenses during hospitalisation as mentioned above.

The scheme and/or the benefits thereunder shall be liable to be withdrawn and made inoperative in to at anytime, for misuse or abuse of the benefits under the scheme or for any other reason whatsoever. The scheme and/or the benefits thereunder shall not be deemed to be a matter of right or contract or term/conditions of employment.

Benefits.
The benefits of post-retirement medical attendance facility under the scheme shall be admissible only to the retired officer and the dependent spouse. In the event of the death of either, the benefit will continue to apply to the survivor. A female spouse not availing medical facilities from any other source will be considered eligible.

 The reimbursible ceiling limits for consultation fees, room charges, charges for various tests and investigations, etc. shall be those as applicable from time to time under the Medical Rules to a serving officer of similar rank. Reimbursement of medical expenses incurred during hospitalisation in hospitals other than those nominated as recognised hospitals in metropolitan cities, as also in hospitals in cities other than metropolitan cities will be made for every block of two financial years, subject to the following maximum limits per financial year (w.e.f. 01.01.1990). Group I Group II Group III Chairman/Functional Director Rs. 8,000 Rs. 12,000 Rs. 16,000 Rs. 24,000

Reimbursement of medical expenses incurred during hospitalisation in hospitals nominated by the Corporation as recognised in metropolitan cities only (Delhi, Bombay, Calcutta and Madras) will be made as per ceilings laid down under the Medical Rules of the Corporation

as amended from time to time and as applicable to a serving officer of similar rank. However, expenses beyond financial ceilings lad down above will be regulated as under:

a)

Admissible expenses on account of serious diseases as per notified list given in Annexure V shall be reimbursible irrespective of the financial ceilings

b)

Admissible expenses on account of diseases other than serious diseases as per list referred to at (a) above shall be reimbursible upto 85% of such expenses.

The above limits for reimbursement of medical expenses shall operate as the combined limit for the officer and the dependent spouse.

POST-RETIREMENT MEDICAL SCHEME FORNON-OFFICERS

Title
The scheme may be called Post-Retirement Medical Scheme for Non-Officers.

Definitions
i) Dependent Spouse shall mean a female spouse irrespective of her income or an ale spouse wholly dependent on the eligible female spouse

and having income of less than Rs. 500/- per month (excluding superannuation benefit receivable from Corporation in case of death of the female spouse).

ii)

Nominated Doctor shall mean a qualified doctor nominated by the corporation as places where the corporation does not have its hospital.

iii)

Authorized Medical Attendant (AMA) will mean a registered medical practitioner qualified in modern system of allopathic medicines with a minimum qualification of MBBS. In small towns/villages where medical practitioners with MBBS or higher qualifications are not available, the term AMA will include registered medical practitioners in allopathic system of medicine with a qualification less than MBBS but not lower than a Licentiate in Medicine.

Eligibility
Employees fulfilling one of the following conditions would be eligible to seek membership of the scheme: i) Those who retire from the service of the Corporation on reaching the age of superannuation, subject to rendering minimum service for 10 years in the corporation /Govt. Public Sector.

ii) Those who prematurely/voluntarily retire from the service of the corporation after attaining the age of 50 years subject to rendering minimum service for 10 years in the corporation.

iii) Those who resign from the service, with specific consent of the corporation, after attaining the age of 50 years subject to rendering minimum service for 20 years in the corporation/govt./ public sector.

iv) Those whose services are terminated for reasons other than on grounds of disciplinary action, subject to their attaining the age of 50 years and rendering continuous service for a minimum period of 20 years in the Corporation/Govt./ Public Sector.

v) The surviving female spouse of eligible employees who die while in service (irrespective of the period of service rendered by the deceased employee) providing the benefit of employment available to the dependent of the deceased employee has not been opted for and availed of.

.Contribution En eligible employee wishing to draw benefit under the scheme shall be required to pay in advance the amount mentioned hereunder by cheque at par/demand draft to the designated officer as non-refundable contribution, for securing the membership of the scheme before cessation of service in the corporation. However, in case of death contribution should be remitted within 3 months from the date of death of the eligible employee. Grade Category Rate of contribution Per Financial year I & II III & VII VIII A B C Rs. 75/Rs. 100/Rs. 125/-

(As on the date of separation)

Eligible employees opting to become members of the scheme are required to deposit their contribution in blocks 5 years along with pro-rata contribution rounded off to the next rupee for the financial year in which they seek membership. (For example, an employee in Grade I seeking membership, say from 01.12.1988, will be required to make initial contribution of Rs. 187/- i.e. Rs. 12/- for December, 1988 March, 1989 and Rs. 175/- for the next block of 5 years.). Contribution for the future block (S) should reach the designated officer before expiry of the current block period, failing which the membership would be deemed to have been terminated on the last day of the 5 yearly block without notice to the member/spouse.

Benefits.
The benefits under the scheme shall be admissible only to the eligible employee and dependent spouse. In the event of death of either, the benefit will continue to be admissible to the surviving dependent spouse subject to his/her contributing as pr clause 29.2.4. above till death or remarriage. However, after demise of both, the scheme shall cease to apply.

The treatment would be allowed only under allopathic system of medicines, for which purpose the Authorized Medical Attendant, Specialist, Surgeon, Medical Attendance, Hospital/Nursing Home Treatment, medicines and Inadmissible Medicines will be as defined in clause 29.2.2 above.

 The reimbursable ceiling limits for consultation fees, room charges, charges for various tests and investigations, etc. shall be those as are applicable from time to time under the Medical Rules of the Corporation to the serving employees of similar rank.

Reimbursement of medical expenses incurred during hospitalization in hospital other than those nominated as recognized hospitals in metropolitan cities, as also in hospitals in cities other than metropolitan cities, will be made in terms of sub-clause 29.2.5.3. for every block of two financial years, subject to the following limits per financial year: Category A Category B Category C Rs. 3,000/Rs. 4,000/Rs. 5,000/-

The above limits for reimbursement of medical expenses shall operate as the combined limit for the employee and the dependent spouse.

In case of domiciliary medical attendance i.e. medical attendance received otherwise than during hospitalization, the reimbursement will be made in terms of sub-clause 29.2.5.3. Above for every block of two years, limited to the following maximum limits per financial year:

Category A Category B Category C -

Rs. 750/-

Rs. 1,000/Rs. 1,200/-

The above limits for reimbursement of expenses on domiciliary medical attendance will operate within the overall limit for reimbursement of expenses during hospitalization Reimbursement of medical expenses incurred during hospitalization for serious sickness as per notified list given in Annexure VII in the hospitals nominated by the corporation as recognized hospitals in metropolitan cities only (Delhi, Bombay, Calcutta and Madras) without applying financial ceilings laid down. For other ailments, reimbursement will be restricted to 75% of the admissible expenditure if the expenditure incurred is beyond the applicable financial ceiling limits as at sub-clause 29.2.5.4 above.

In case the member/spouse is hospitalised, it would be a pre-requisite to notify the designated officer at the earliest.

The corporation shall not consider requests for reimbursement in either of the following cases: a) b) Veneral diseases or diseases attributable to alcoholism; or Stay in sanatorium or similar institution for convalescence.

The benefits under the scheme will be pro-rata in the financial year in which the employee becomes eligible for the scheme.

 In case an eligible employee and/or dependent spouse receives free reimbursable medical attendance facility from any other source, the benefit under the scheme will be admissible only to the extent of difference between the expenses incurred and the reimbursement received from such other alternative sources, subject to the overall limits above.

Medical expenses incurred for treatment outside the country shall not be admissible for reimbursement under this scheme.

No medical advance shall be admissible under this scheme.

General
This scheme has been introduced purely as a welfare measure under which reimbursement will be claimed not as a matter of right but at the sole discretion of the Corporation and shall not form a contract or term/condition of employment and/or separation. An eligible employee desirous of availing the benefits under the scheme shall make a formal application in the prescribed form prior to cessation of the service in the Corporation. The option to join the scheme will not be available the employee ceases to be in the service of the Corporation In case of any disagreement or doubt with regard to interpretation of any of the rules and regulation of the scheme, the decision of G.M. (HR) shall be treated as final.

ANALYSIS OF DATA COLLECTED THROUGH QUESTIONNAIRE

Questionnaire targeted at the Employees: A Questionnaire was prepared for the purpose of getting feedback from the employees regarding the Employee Satisfaction Level for the Fringe Benefits in the JINDAL SAW LTD. Around 50 employees were selected randomly from different departments across the grades and were distributed the questionnaire for the purpose of the study.

ANALYSIS OF THE DATA: The analysis of the data is done as per the survey findings. The data is represented Graphically in Percentage .

I.

AWARENESS

Sr. No. 1 2 3 4

Opinion Yes No To some extent Cant Say

No. of Respondents 35 5 5 5

Percentage % 70% 10% 10% 10%

70 % of the employees are aware of the social benefits . 10% of the employees are unaware of the social benefits . 10% of the employees are aware to some extent . 10% of the employees are not sure about it .

II.

BENEFITS

Sr. No. 1 2 3 4 5

Opinion On the job breaks Sick days and Well pays Holidays and Vacation Leave of Absence All

No. of Respondents 3 6 9 12 20

Percentage % 9% 12% 18% 24% 40%

9% of the Respondents said that on the job breaks are provided to them 12% of the Respondents said that sick day leaves and well pays are provided to them 18% of the Respondents said that holidays and vacations are given to them 24% of the Respondents said that absence leave provided to them 40% of the Respondents said all of the above

III.

GOALS

Sr. No. 1 2 3 4 5

Opinion Social Goal Human Relation Goal Macro-economic Goal All Any other

No. of Respondents 5 7 10 25 3

Percentage % 10% 14% 20% 50% 6%

10% of the employees said that social goals satisfy the fringe benefits 14% of the employees said that human relation goals satisfy the fringe benefits 20% of the employees said that Macro-economic Goal satisfy the fringe benefits 50% of the employees said that all the above goals satisfy the fringe benefits 6% of the employees said that there may be be other goals also that satisfy the fringe benefits

IV.

PROBLEM Opinion Charge of paternalism Excessive expenditure Fads become Fashionable Maintenance of the least productive worker's Neglect of other personnel function All No. of Respondents 3 6 5 4 7 25 Percentage % 6% 12% 10% 8% 14% 50%

Sr. No. 1 2 3 4 5 6

50% of the employees said that they face the problem of charge of paternalism however 12% of the employees said that they face the problem of excessive expenditure further 10% of the employees said that they face the problem of facts becoming fashionable and 8% of the employees said that they face the problem of maintenance of the least productive workers but 14% of the employees said that they face the problem of neglects of other personnel function

V.

POST-RETIREMENT FACILITY

Sr. No. 1 2 3 4

Opinion Fully satisfied Quiet satisfied Satisfied to some extent Not Satisfied

No. of Respondents 15 25 7 3

Percentage % 30% 50% 14% 6%

30% of the employees are fully satisfied with the Post-Retirement Facility however 50% of the employees are quiet satisfied with the Post-Retirement facility further 14% of the employees are satisfied to some extent with the Post-Retirement Facility but 6% of the employees are not satisfied with the Post-Retirement Facility

SECURITY

Sr. No. 1 2 3 4

Opinion Yes No To some extent Can't Say

No. of Respondents 40 5 7 3

Percentage % 73% 9% 13% 5%

73% of the Employees said that they have job security 9% of the employees said they dont have job security 13% of the employees said that to some extent they have job security 5% of the employees said they cant say if their jobs are secured or not

SUGGESTIONS
The company is doing very well and is providing everything what an average employee demands regarding the fringe benefits and social security. Still then there are various suggestions that are given below: The employee should have clear understanding of various policies regarding: Rules Retired employees benefits rules Medical facilities Statutory obligations and similar other rules. Increment to be related with performance. Redesigning compensation system to reduce multiple allowances Adopt open-end scales. Print booklets containing all the policy matters and circulate it among all the employees

RECOMMENDATIONS
Increase in fringe benefits according to the position of the people working in the organization. The training for the employees about the work and tells about the terms and condition of the company Statuary obligation and similar other rules and regulation. Tell employees about the retired benefits rules. Provide good medical facility for the employees. To adopt the open-end scale. Provide good library for the employees when they are free they get relaxed their and their knowledge about the company.

Conclusion of the study

Based on the analysis, through the questionnaire responses the following is the conclusion of the study:The organization follows the rules and regulations involved in fringe benefits of the organization. However there is some scope for improve with regard to following: The employees are up to some extent satisfied with the existing systems and practices of recruitment and selection procedure. The Recruitment and Selection should not be lengthy.

To some extent a clear picture of required candidates should be made in order to search for the appropriate candidates. The Recruitment and Selection Procedure should be impartial.

Organization, who does not follow the Recruitment and Selection Procedure, should follow. In JINDAL SAW LTD. Gurgaon, a proper Recruitment and Selection Procedure is followed.

QUESTIONNAIRE

SURVEY ON THE EMPLOYEES SATISFACTION LEVEL FOR THE SOCIAL SECURITY AND BENEFITS
Dear Respondent , We are conducting a survey on the employee satisfaction level for the Social Security and Benefits. Your free and frank opinion would be very valuable in conducting the survey . Please answer the following questions with a ( ) in the appropriate boxes .

GENERAL
1) Are you aware of the Fringe Benefits? Yes To some extent No Cant say

2) Do you feel comfortable with the Fringe Benefits scheme ? Yes No To some extent Cant say 3) What are the benefits that the organization might give its employee to provide them with greater financial security ? Medical Benefits Childrens Educational Benefits Accidents and Sickness Insurance All Any other

SCHEMES
4) Are you aware of the different Insurance Schemes like LIC , GIS etc.? Yes To some extent No Cant Say

5) Are you satisfied with the benefits you get from these schemes ? Fully Satisfied Satisfied to some extent Quiet Satisfied Not Satisfied

EXTENSION OF BENEFITS
5) What are the reasons that an organization is extending the Fringe Benefits year after year? Employee Demands Trade Union Demands

Employers Preference

As a Social Security

All

6) What are different benefits that are provided by the organization to its employees ? On the Job Break Holidays and Vacations Sick days and Well pay Leave of absence All

SECURITY
7) Do you feel that you and your job are fully secured by the organization? Yes To some extent No Cant Say

GOALS
8) What are the goals that satisfy the Fringe Benefits? Social Goal Macro-economic Goal Human Relation Goal All Any other

POST RETIREMENT FACILITY

9) Does your organization provides the post-retirement facility ? Yes To some extent No Cant Say

10) Are you satisfied with the benefits that are provided in post-retirement facility ? Fully Satisfied Satisfied to some extent Quiet Satisfied Not Satisfied

PROBLEMS
11) What are the problems arise when these benefit programmes are adopted and administered ? Charge of Paternalism Fads become fashionable Excessive Expenditure Maintenance of the least productive workers

Neglect of other personnel function

All

SUGGESTIONS
12) In your opinion what else can be done to improve the present system and practices of the Fringe Benefits Schemes? _________________________________________________________________________ _________________________________________________________________________ _________________________________________________________________________ _________________________________________________________________________ ____________________________________________________________________ _____________________________________________________________________

BIBLIOGRAPHY
Gupta, C.B., Principles and practice of management, National, New Delhi, 1996. Mamoria, C.B., Personnel management, Himalaya Publication House, Gurgaon, Mumbai 400 004, 2002 Sharma, M.C. Question Bank in business studies, Sultan chand & Sons, Ram Nagar, New Delhi 110055, 1992 Kumar , H.L. Practical Guide Labour Management , Universal Law Publishing Co. Pvt Ltd CEF-1A Ansal Dilkush, Industrial Estate, GT Karnal Road, Delhi 110033.1997

WEBOGRAPHY
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