payroll management-.doc

MediSys is the world's leading medical transcription service provider

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LIST OF TABLES & FIGURES

S NoTables & FiguresPage No

01Table 01, Figure 01 Showing: Experience levels.45

02Table 02, Figure 02 Showing: Level of grade.46

03Table 03, Figure 03 showing: Salary range47

04Table 04, Figure 04 showing: Considering the competitors pay package 48

05Table 05, Figure 05 showing: Factors used to determine the pay.49

06Table 06, Figure 06 showing: Salary revision50

07Table 07, Figure 07 showing: pay satisfaction levels51

08Table 08, Figure 08 showing: Motivation levels of pay52

09Table 09, Figure 09 showing: Merit pay53

10Table 10, Figure 10 showing: Employee retention54

CHAPTER-IINTRODUCTIONHUMAN RESOURCES MANAGEMENT The Human Resources Management (HRM) function includes a variety of activities, and key among them is deciding what staffing needs you have and whether to use independent contractors or hire employees to fill these needs, recruiting and training the best employees, ensuring they are high performers, dealing with performance issues, and ensuring your personnel and management practices conform to various regulations. Activities also include managing your approach to employee benefits and compensation, employee records and personnel policies. Usually small businesses (for-profit or nonprofit) have to carry out these activities themselves because they can't yet afford part- or full-time help. However, they should always ensure that employees have -- and are aware of -- personnel policies which conform to current regulations. These policies are often in the form of employee manuals, which all employees have.

Note that some people distinguish a difference between HRM (a major management activity) and HRD (Human Resource Development, a profession). Those people might include HRM in HRD, explaining that HRD includes the broader range of activities to develop personnel inside of organizations, including, eg, career development, training, organization development, etc.

There is a long-standing argument about where HR-related functions should be organized into large organizations, eg, "should HR be in the Organization Development department or the other way around?"

The HRM function and HRD profession have undergone tremendous change over the past 20-30 years. Many years ago, large organizations looked to the "Personnel Department," mostly to manage the paperwork around hiring and paying people. More recently, organizations consider the "HR Department" as playing a major role in staffing, training and helping to manage people so that people and the organization are performing at maximum capability in a highly fulfilling manner.PAYROLL MANAGEMENTDefinitions: In a company, payroll is the sum of all financial records of salaries, wages, bonuses and deductions.

Payroll Management is the linchpin to most of the information an organization has regarding its employees. While many organizations espouse to using Human Resource Information Systems (HRIS), the reality is somewhat different. Current technology and software packages allow employers to store a vast array of inter-related information about employees. However, much of this information is not viewed as critical, and therefore often overlooked. Basic employee information must however be kept for payroll purposes. This will also form the basis for any other HR related information.

Information recorded will include:

Name

Address,

Date of birth

Country of birth

Marital status

Salary level

Taxation status

Positions held

Leave history

Service history

Much of this is gathered when an employee is first registered on the payroll, but why is this important? Human resources can utilize this information to produce workforce profiles such as age, salary distribution, geographic location, and service length. All of these allow for greater HR planning. It is therefore imperative that payroll and HR have a clear line of communication.

This however is just the tip of the iceberg. Other reasons for ensuring clear communication between HR and payroll are: HR relies on payroll for historic information for reporting purposes, annual reports etc. Any plans to change award or enterprise agreement conditions must include input from the payroll area. Some payroll systems may not be capable of managing initiatives such as salary sacrificing, share schemes, or international employment. Any changes to conditions can result in higher payroll costs due to inefficient work-around or an increased need for payroll resources.

METHODOLOGY

THE PRESENT STUDY

The research, method of study explains the systematic way of finding the predetermined objectives. Moreover this provides the clean path to accomplish and achieve clear solution for the problem stated. The following are stages through which the research has passed to obtain the conclusions:

1. Research Design:

In this study, the research design used is descriptive in nature as it describes the views, opinions and perception of the employees.

2. Collection of Data:

This study uses both primary and secondary data. Primary data refers to the first hand information that is collected through questionnaire and on personal interviews. Secondary data refers to the data that is not originally collected but rather obtained from published or unpublished sources, i.e., information about the performance of the company, reports on the study, review of literature etc.

Methods of data collection:

Questionnaire is prepared and circulated to the employees to know their opinion on the Manpower planning in the organization. Questionnaire consists of close ended questions which pre-specify all the answers and respondents make a choice among them. While collecting the data, since women were not able to read the questionnaire personal interview was conducted by translating the questionnaire into a language which is understandable by them to know about the functions of human resources activities implemented in the organization.

Sample size:

The sample size selection for research is 60. This sample size was selected by using random sampling technique.

Data Analysis:

After the data have been collected it has to be analyzed, the data obtained from the questionnaire is arranged in a serial order. Then a copy with tabulation method is being prepared.

Tabulation is a part of the technical procedure where in classified data are put in the form of tables. The tables thus obtained were analyzed with statistical techniques like percentage, pie diagrams.

OBJECTIVES OF THE STUDY1. To study the process of Human resource planning at INDIA BULLS.2. To study the payroll management at INDIA BULLS.

3. Does it follows the conventional method or developed any method of its own.

4. To study the process of socialization of the new employee at INDIA BULLS.

5. To know The Criterion of Grading a Candidates Personal Capabilities.

SCOPE OF THE STUDY

The scope of the study consists of analyzing the payroll management s given for the employees at INDIA BULLS an analysis of the process was carried out and recommendations were given accordingly. A questionnaire survey was conducted among Mangers, Executives, Supervisors and Workmen covering the following departments.

HR department.

General administration department.

Packing department.

Sales department.

Finance department.

Limitations of the study:

a) The primary data inference through personal interaction with the employees may have an element of bias from the point of view of employee individual perspective.

b) The understanding and knowledge may vary from person to person. The replies given by respondents are assumed to be true, though they are not uniform.

c) The survey is limited to the employees of INDIA BULLS, bids, Hyderabad.

CHAPTER-IIREVIEW OF LITERATURE

PAYROLL MANAGEMENT In a company, payroll is the sum of all financial records of salaries, wages, bonuses and deductions.

Paycheck: A paycheck is traditionally a paper document issued by an employer to pay an employee for services rendered. In recent times, the physical paycheck has been increasingly replaced by electronic direct deposit to bank accounts. Such employees may still receive a complete pay slip (see below) package, but the attached check is noted as non-negotiable.

In most countries with a developed wire transfer system, using a physical check for paying wages and salaries has been uncommon for the past several decades. However, vocabulary referring to the figurative "paycheck" does exist in some languages, like German (Gehaltsscheck), partially due to the influence of US popular media, but this commonly refers to a pay slip or stub rather than an actual check. Some company payrolls have eliminated both the paper check and stub, in which case an electronic image of the stub is available on an Internet website. Payroll taxes: Federal/national, state/provincial, and/or local agencies require employers to perform various payroll functions, such as withholding amounts from employees' compensation to cover income tax, Social Security, and Medicare.

Payroll taxes are levied by government agencies on employees' wages, tips, and other compensation. The amounts withheld by employers from employees' pay for federal income, social security, and Medicare taxes are considered to be trust-fund taxes, because the money is held in a special trust fund for the U.S. government. Amounts withheld for state and local income taxes are held in trust for the state and local governments.Pay slip:

An example of a pay slip from the John Lewis Partnership, showing gross salary, tax and National Insurance paid and yearly bonus entitlement, among other things.A pay stub, pay stub, pay slip, pay advice, or sometimes paycheck stub, is a document an employee receives either as a notice that the direct deposit transaction has gone through, or as part of their paycheck. It will typically detail the gross income and all taxes and any other deductions such as retirement plan contributions, insurances, garnishments, or charitable contributions taken out of the gross amount to arrive at the final net amount of the pay, also including the year to date totals in some circumstances.Payroll card: For employees that, for one reason or another, do not have access to a bank account (bad check history, not in close proximity to bank, etc), there is a solution, offered by most major Payroll Service Providers. Instead of an employee receiving a check, and paying up to 5-10% to cash the check, the employee can have the direct deposit loaded onto a debit card. In this, a company can save money on printing checks, not buy the expensive check stock, and not having to worry about check fraud, due to a check being lost or stolen. A payroll card is a plastic card allowing an employee to access their pay by using a debit card. A payroll card can be more convenient than using a check casher, because it can be used at participating automatic teller machines to withdraw cash, or in retail environments to make purchases. Some payroll cards are cheaper than payday loans available from retail check cashing stores, but others are not. Most payroll cards will charge a fee if used at an ATM more than once per pay period.

The payroll card account may be held as a single account in the employer's name. In that case, the account holds the payroll funds for all employees using the payroll card system. Some payroll card programs establish a separate account for each employee, but others do not.

Many payroll cards are individually owned dda (demand deposit accounts) that are owned by the employee. These cards are more flexible, allowing the employee to use the card for paying bills, and the accounts are portable. Most payroll card accounts are FDIC-insured, but some are not.Payroll Frequencies: Companies typically generate their payrolls on regular intervals, for the benefit of regular income to their employees. The regularity of the intervals, though, varies from company to company, and sometimes between job grades within a given company. Common payroll frequencies include: daily, weekly, bi-weekly (once every two weeks), semi-monthly (twice per month), and to somewhat of a lesser extent, monthly. Less common payroll frequencies include: 4-weekly (13 times per year), bi-monthly (once every two months), quarterly (once every 13 weeks), semi-annually (twice per year), and annually.Payroll Professionals:In Canada, Payroll Professionals are certified by the Canadian Payroll Association. They are qualified as either 'Payroll Compliance Practitioners (PCP)' or as 'Certified Payroll Managers (CPM)'.

In the United States, Payroll Professionals are certified by the American Payroll Association. They are designated as Fundamental Payroll Certification (FPC) or Certified Payroll Professional (CPP) after passing the appropriate certification exam.

Upon completion of the required course material and with continuing education and membership fees the person is then entitled to the post-nominal letters associated with their current level of accomplishment.

In the United Kingdom, payroll professionals are represented by the Institute of Payroll Professionals. In Ireland both the Irish Payroll Association (IPASS) and Complete Office Package Systems Ltd provides education and training for payroll professionals. IPASS are the representative body for payroll professionals in Ireland. The Irish Government education body HETAC accredits the IPASS Payroll and VAT qualifications. Warrants: Payroll warrants look like checks and clear through the banking system like checks, but are not drawn against cleared funds in a deposit account. Instead they are drawn against "available funds" that are not in a bank account, so the issuer can collect interest on the float. In the US, warrants are issued by government entities such as the military and state and county governments. Warrants are issued for payroll to individuals and for accounts payable to vendors. Technically a warrant is not payable on demand and may not be negotiable.[2] Deposited warrants are routed to a collecting bank which processes them as collection items like maturing treasury bills and presents the warrants to the government entity's Treasury Department for payment each business day.

In the UK, warrants are issued as payment by the NS&I when a Premium Bond is chosen.Payroll Outsourcing: Businesses may decide to outsource their payroll functions to an outsourcing service like a payroll bureau or a fully managed payroll service. These can normally reduce the costs involved in having payroll trained employees in-house as well as the costs of systems and software needed to process payroll. Within the United States, business payrolls are complicated in that taxes must be filed consistently and accurately to applicable regulatory agencies. Restaurant payrolls which typically include tip calculations, deductions, garnishments and other variables can be extremely difficult to manage especially for new or small business owners.

In the UK, payroll bureaus will deal with all HM Revenue & Customs enquiries and deal with employee's queries. Payroll bureaus also produce reports for the businesses' account department and pay slips for the employees and can also make the payments to the employees if required.

Another reason many businesses outsource is because of the ever increasing complexity of payroll legislation. Annual changes in tax codes, PAYE and National Insurance bands as well as more and more statutory payments and deductions having to go through the payroll often mean there is a lot to keep abreast of in order maintaining compliance with the current legislation.Payrolling: Payrolling is the business practice of referring a contingent worker to a staffing vendor or payrolling provider so that they are the employer of record responsible for employer taxes, payroll, and all legal matters pertaining to employing workers. Different from sourcing (or recruiting) where the staffing vendor uses internal recruiters to locate contractors on behalf of the requesting company or client, payrolled workers are identified by the client.

Often payrolled workers are known to the client from previous engagements or as former employees. Because the costs of recruiting workers in to contract positions are eliminated the payrollees are often processed at reduced mark up rates.

In the last several years, some dedicated payrolling companies have emerged in the staffing industry to provide payrolling services at greatly reduced pricing around the world.See also: Human Resource is the most vital resource for any organization. It is responsible for each and every decision taken, each and every work done and each and every result. Employees should be managed properly and motivated by providing best remuneration and compensation as per the industry standards. The lucrative compensation will also serve the need for attracting and retaining the best employees. Compensation is the remuneration received by an employee in return for his/her contribution to the organization. It is an organized practice that involves balancing the work-employee relation by providing monetary and non-monetary benefits to employees. Compensation is an integral part of human resource management which helps in motivating the employees and improving organizational effectiveness.Components of Compensation System: Compensation systems are designed keeping in minds the strategic goals and business objectives. Compensation system is designed on the basis of certain factors after analyzing the job work and responsibilities. Components of a compensation system are as follows:

Types of Compensation: Compensation provided to employees can direct in the form of monetary benefits and/or indirect in the form of non-monetary benefits known as perks, time off, etc. Compensation does not include only salary but it is the sum total of all rewards and allowances provided to the employees in return for their services. If the compensation offered is effectively managed, it contributes to high organizational productivity. Direct Compensation Indirect Compensation

Need of Compensation Management

A good compensation package is important to motivate the employees to increase the organizational productivity.

Unless compensation is provided no one will come and work for the organization. Thus, compensation helps in running an organization effectively and accomplishing its goals.

Salary is just a part of the compensation system, the employees have other psychological and self-actualization needs to fulfill. Thus, compensation serves the purpose.

The most competitive compensation will help the organization to attract and sustain the best talent. The compensation package should be as per industry standards.

Strategic compensation:

Strategic compensation is determining and providing the compensation packages to the employees that are aligned with the business goals and objectives. In todays competitive scenario organizations have to take special measures regarding compensation of the employees so that the organizations retain the valuable employees. The compensation systems have changed from traditional ones to strategic compensation systems.

Payroll Management Processes

Calculation of gross salaries and deductible amounts is a tedious task which involves risk. Some of the organizations use the traditional manual method of payroll processing and some go for the advanced payroll processing software. An organization opts for any of the following payroll processing methods available:

Manual System Manual payroll system is the traditional payroll system which involves pen and ink, adding machine, spreadsheet, etc instead of computers, software and other computerized aids. The process was very popular when there were no computerized means for payroll processing.

Now-a-days it is only few small scale organizations in the remote areas that use the manual payroll. Sometimes the construction industry and manufacturing industry also use the manual payroll systems for the contractual labour, as theses contracts are on daily/weekly basis.

There is full control in the hands of owner. But the process is tedious, time consuming and risky as it is more prone to errors.

Figure: Various Payroll Processes

Accountant: Accountant is a professional having a degree/diploma course in finance/accountancy. He/she is responsible for all the activities related to payroll accounting. He/she has the sound knowledge of accounting principles and globally accepted standards. The process adds costs to the organization. It involves paying someone who is responsible for calculating the salaries of others. The financial control regarding salary goes in the hand of accountant.

Payroll Software: In todays computerized environment, payroll system has also developed itself into automated software that performs every action needed by the payroll process. It helps in calculating the payable amounts and deductions very easily. It also helps in generating the pay slips in lesser time. Automated calculations result in no errors. Data is validated automatically by the software.It needs professionals to make use of the software for its efficient working.

Payroll OutsourcingPayroll outsourcing involves a third party (an outsourcing company) in the calculations of salaries and deductions. The outsourcing organization is responsible for all the activities of the payroll accounting. It saves time and cost for the organization. If there is more number of employees (say more than 900-1000) in the organization, payroll outsourcing would be very much beneficial.The data is provided to the consultants/outsourcing firms. The various payroll functions undertaken by the outsourcing organizations are as follows:

Analysis of Payroll records, payroll taxes

Medical claim processing

Employee Insurance & Provident fund processing

Quality Audit procedures & planning

CHAPTER-IIIINDUSTRY PROFILE

COMPANY PROFILE

INDUSTRY PROFILE

NATIONAL STOCK EXCHANGEThe National Stock Exchange of India (NSE) situated in Mumbai - is the largest and most advanced exchange with 1016 companies listed and 726 trading members. Capital market reforms in India and the launch of the Securities and Exchange Board of India (SEBI) accelerated the incorporation of the second Indian stock exchange called the National Stock Exchange (NSE) in 1992. After a few years of operations, the NSE has become the largest stock exchange in India.

Three segments of the NSE trading platform were established one after another. The Wholesale Debt Market (WDM) commenced operations in June 1994 and the Capital Market (CM) segment was opened at the end of 1994. Finally, the Futures and Options segment began operating in 2000. Today the NSE takes the 14th position in the top 40 futures exchanges in the world.

In 1996, the National Stock Exchange of India launched S&P CNX Nifty and CNX Junior Indices that make up 100 most liquid stocks in India. CNX Nifty is a diversified index of 50 stocks from 25 different economy sectors. The Indices are owned and managed by India Index Services and Products Ltd (IISL) that has a consulting and licensing agreement with Standard & Poor's.

In 1998, the National Stock Exchange of India launched its web-site and was the first exchange in India that started trading stock on the Internet in 2000. The NSE has also proved its leadership in the Indian financial market by gaining many awards such as 'Best IT Usage Award' by Computer Society in India (in 1996 and 1997) and CHIP Web Award by CHIP magazine (1999).

The NSE is owned by the group of leading financial institutions such as Indian Bank or Life Insurance Corporation of India. However, in the totally de-mutualised Exchange, the ownership as well as the management does not have a right to trade on the Exchange. Only qualified traders can be involved in the securities trading.

The NSE is one of the few exchanges in the world trading all types of securities on a single platform, which is divided into three segments: Wholesale Debt Market (WDM), Capital Market (CM), and Futures & Options (F&O) Market.

Each segment has experienced a significant growth throughout a few years of their launch. While the WDM segment has accumulated the annual growth of over 36% since its opening in 1994, the CM segment has increased by even 61% during the same period. The National Stock Exchange of India has stringent requirements and criteria for the companies listed on the Exchange. Minimum capital requirements, project appraisal, and company's track record are just a few of the criteria. In addition, listed companies pay variable listing fees based on their corporate capital size.

The National Stock Exchange of India Ltd. provides its clients with a single, fully electronic trading platform that is operated through a VSAT network. Unlike most world exchanges, the NSE uses the satellite communication system that connects traders from 345 Indian cities. The advanced technologies enable up to 6 million trades to be operated daily on the NSE trading platform.

NSE Nifty:The S&P CNX Nifty (nicknamed Nifty 50 or simply Nifty), is the leading index for large companies on the National Stock Exchange of India. S&P CNX Nifty is a well diversified 50 stock index accounting for 22 sectors of the economy. It is used for a variety of purposes such as benchmarking fund portfolios, index based derivatives and index funds.

Nifty was developed by the economists Ajay Shah and Susan Thomas, then at IGIDR. Later on, it came to be owned and managed by India Index Services and Products Ltd. (IISL), which is a joint venture between NSE and CRISIL. IISL is India's first specialised company focused upon the index as a core product. IISL have a consulting and licensing agreement with Standard & Poor's (S&P), who are world leaders in index services.

CNX stands for CRISIL NSE Indices. CNX ensures common branding of indices, to reflect the identities of both the promoters, i.e. NSE and CRISIL. Thus, 'C' stands for CRISIL, 'N' stands for NSE and X stands for Exchange or Index. The S&P prefix belongs to the US-based Standard & Poor's Financial Information Services.

NSE other indices: S&P CNX Nifty

CNX Nifty Junior

CNX 100

S&P CNX 500

CNX Midcap

S&P CNX Defty

CNX Midcap 200

BOMBAY STOCK EXCHANGE:The Bombay Stock Exchange Limited (formerly, The Stock Exchange, Mumbai; popularly called The Bombay Stock Exchange, or BSE) is the oldest stock exchange in Asia. It is located at Dalal Street, Mumbai, India.

Bombay Stock Exchange was established in 1875. There are around 5,600 Indian companies listed with the stock exchange, and has a significant trading volume. As of October2006, the market capitalization of the BSE was about Rs. 33.4 trillion (US $ 730 billion). The BSE SENSEX (SENSitive indEX), also called the BSE 30, is a widely used market index in India and Asia. As of 2005, it is among the 5 biggest stock exchanges in the world in terms of transactions volume.

History:An informal group of 22 stockbrokers began trading under a banyan tree opposite the Town Hall of Bombay from the mid-1850s, 1875, was formally organized as the Bombay Stock Exchange (BSE).In January 1899, the stock exchange moved into the Brokers Hall after it was inaugurated by James M MacLean. After the First World War, the BSE was shifted to an old building near the Town Hall. In 1956, the Government of India recognized the Bombay Stock Exchange as the first stock exchange in the country under the Securities Contracts (Regulation) Act.1995, when it was replaced by an electronic (eTrading) system named BOLT, or the BSE Online Trading system. In 2005, the status of the exchange changed from an Association of Persons (AoP) to a full fledged corporation under the BSE (Corporatization and Demutualization) Scheme, 2005 (and its name was changed to The Bombay Stock Exchange Limited).

BSE Sensex:The BSE SENSEX (also known as the BSE 30) is a value-weighted index composed of 30 scrips, with the base April 1979 = 100. The set of companies which make up the index has been changed only a few times in the last 20 years. These companies account for around one-fifth of the market capitalization of the BSE.

SENSEX, first compiled in 1986 was calculated on a "Market Capitalization-Weighted" methodology of 30 component stocks representing a sample of large, well-established and financially sound companies. The base year of SENSEX is 1978-79. The index is widely reported in both domestic and international markets through print as well as electronic media. SENSEX is not only scientifically designed but also based on globally accepted construction and review methodology. From September 2003, the SENSEX is calculated on a free-float market capitalization methodology. The "free-float Market Capitalization-Weighted" methodology is a widely followed index construction methodology on which majority of global equity benchmarks are based.

The growth of equity markets in India has been phenomenal in the decade gone by. Right from early nineties the stock market witnessed heightened activity in terms of various bull and bear runs. More recently, the bourses in India witnessed a similar frenzy in the 'TMT' sectors. The SENSEX captured all these happenings in the most judicial manner. One can identify the booms and bust of the Indian equity market through SENSEX.

The values of all BSE indices are updated every 15 seconds during the market hours and displayed through the BOLT system, BSE website and news wire agencies.

SENSEX calculation:

SENSEX is calculated using a "Market Capitalization-Weighted" methodology.

As per this methodology, the level of index at any point of time reflects the total market value of 30 component stocks relative to a base period. (The market capitalization of a company is determined by multiplying the price of its stock by the number of shares issued by the company). An index of a set of combined variables (such as price and number of shares) is commonly referred as a 'Composite Index' by statisticians. A single indexed number is used to represent the results of this calculation in order to make the value easier to work with and track over time. It is much easier to graph a chart based on indexed values than one based on actual values. The base period of SENSEX is 1978-79. The actual total market value of the stocks in the Index during the base period has been set equal to an indexed value of 100. This is often indicated by the notation 1978-79=100. The formula used to calculate the Index is fairly straightforward. However, the calculation of the adjustments to the Index (commonly called Index maintenance) is more complex.The calculation of SENSEX involves dividing the total market capitalization of 30 companies in the Index by a number called the Index Divisor. The Divisor is the only link to the original base period value of the SENSEX. It keeps the Index comparable over time and is the adjustment point for all Index maintenance adjustments. During market hours, prices of the index scrips, at which latest trades are executed, are used by the trading system to calculate SENSEX every 15 seconds and disseminated in real time.During market hours, prices of the index scrips, at which trades are executed, are automatically used by the trading computer to calculate the SENSEX every 15 seconds and continuously updated on all trading workstations connected to the BSE trading computer in real time.BSE - other Indices:Apart from BSE SENSEX, which is the most popular stock index in India, BSE uses other stock indices as well:

BSE 500

BSE PSU

BSE MIDCAP

BSE SMLCAP

BSE BANKEX

COMPANY PROFILE

INDIABULLS

Indiabull

TypePublic company

Traded asNSE:INDIABULLSBSE:532544

IndustryFinancial Services, Real Estate, Power

FoundedMay, 2000

Headquarters

HYPERLINK "http://en.wikipedia.org/wiki/Gurgaon" \o "Gurgaon"Gurgaon, India[1]

Key peopleSameer Gehlaut, Chairman & CEO, Rajiv Rattan, Vice Chairman, Saurabh Mittal, Vice Chairman

ProductsSecurities, Consumer Finance, Mortgages, Real Estate

Websitewww.Indiabulls.com

ABOUT US

Inmiddle of 1999, when e-commerce was just about starting in India, Sameer Gehlaut and his close IIT Delhi friend Rajiv Rattan got together and bought a defunct securities company with a NSE membership and started offering brokerage services. A Few months later, their friend Saurabh Mittal also joined them. ByDecember 1999, the company embarked on its journey to build one of the first online platforms in India for offering internet brokerage services. In January 2000, the 3 founders incorporated Indiabulls Financial Services and made it as the flagship company.

Inmid 2000, Indiabulls Financial Services received venture capital funding from Mr L.N. Mittal & Mr Harish Fabiani. Inlate 2000, Indiabulls Securities, a subsidiary of Indiabulls Financial Services started offering online brokerage services and simultaneously opened physical offices across India. By2003, Indiabulls securities had established a strong pan India presence and client base through its offices and on the internet.

In September 2004, Indiabulls Financial Services went public with an IPO at Rs 19 a share. Inlate 2004, Indiabulls Financial Services started its financing business with consumer loans. InMarch 2005, Indiabulls Properties Private Ltd, a subsidiary of Indiabulls Financial Services, participated in government auction of Jupiter Mills, a defunct 11 acre textile mill owned by NTC in Lower Parel, Mumbai. Indiabulls Properties private Ltd won the mill in auction and that purchase started Indiabulls real estate business. A few months later, Indiabulls Real Estate company pvt ltd bought Elphinstone mill in Lower Parel, another textile mill auctioned by NTC.

With real estate business gaining size, Indiabulls Financial Services demerged the real estate business under Indiabulls Real Estate and each shareholder of Indiabulls Financial Services received additional share of Indiabulls Real Estate through the demerger. Subsequently, Indiabulls Financial Services also demerged Indiabulls Securities and each shareholder of Indiabulls Financial Services also received a share of Indiabulls Securities.

Inyear 2007, Indiabulls Real Estate incorporated a 100% subsidiary, Indiabulls Power, to build power plants and started work on building Nashik & Amrawati thermal power plants. Indiabulls Power went public inSeptember 2009.

Today, Indiabulls Group has a networth of Rs 19,320 Crore & has a strong presence in important sectors like financial services, power & real estate through independently listed companies and Indiabulls Group continues its journey of building businesses with strong cash flows.

CHAIRMANS DESK

Sameer Gehlaut

Chairman, Indiabulls Group

Sameer Gehlaut has been the chairman of Indiabulls Group since inception. He is also the chairman of major Indiabulls companies: Indiabulls Power, Indiabulls Housing Finance & Indiabulls Real Estate. Under his leadership, Indiabulls Group has grown in scale and size to a business house with strong businesses in various sectors.

Mr Gehlaut started Indiabulls Group after working briefly with Halliburton before returning to India. Mr Gehlaut received a B.Tech degree in Mechanical Engineering from Indian Institute of Technology, Delhi.

MANAGEMENT TEAM

Indiabulls Group

Mr Rajiv Rattan- Vice Chairman

Mr Saurabh Mittal- Vice Chairman

Mr Ashok Kacker- Group President

Mr Ashok Sharma- Group CFO

Mr Ajit Mittal- Group Director

Mr Gurbans Singh -Group Director

Mr Tejinderpal Singh Miglani- Group CIO

Indiabulls Housing Finance Limited

Mr Gagan Banga- CEO

Mr Ashwini Kumar Hooda- DMD

Indiabulls Real Estate Limited

Mr Narendra Gehlaut- MD

Indiabulls Power Limited

Mr Rajendra Kumar Sugandhi- CEO

Mr Mehul Johnson- President

Indiabulls Securities Limited

Mr Divyesh Shah- CEO

Mr Vijay Babbar- DMD

BUSINESSES

Indiabulls Groupis one of the country's leading business houses with business interests in Power, Financial Services, Real Estate and Infrastructure. Indiabulls Group companies are listed in Indian and overseas financial markets. The Net worth of the Group is Rs 19,320 Crore and the total planned capital expenditure of the Group by 2013-14 is Rs 35,000 Crore.

Indiabulls Powercurrently developing Thermal Power Projects with an aggregate capacity of 5400 MW. The first unit is expected to go on stream in Dec 2012. The net worth of Indiabulls Power is Rs 5,507 Crore. The company has a total capital expenditure of Rs 27,500 Crore. The company has been assigned 'BBB' rating.

Indiabulls Housing Finance Ltd. (IBHFL)is Indias 3rd largest Housing Finance Company (HFC). The company is registered as a Housing Finance Company (HFC) and is regulated by the National Housing Bank (NHB). IBHFL is a leading provider of home loans, loan against properties and commercial vehicle loans.

The company has a loan asset book of over Rs. 34,400 Cr and has, since inception, disbursed over Rs. 71,000 Cr to over 5.5 lakh customers. With a net worth of over Rs. 5,300 Cr, IHFL is one of the best capitalized companies amongst its peer with a CRAR of 18.47% as at March 31st, 2013. Further, the company is one of the least levered amongst its peer set with a net debt-to-equity ratio of only 4.67. The company enjoys a credit rating of AA+.

IBHFL has 200 well appointed and customer accessible walk-in branches spread across the country. Companys national and International reach is further enhanced from tie-ups with Yes Bank and Doha Bank.

Indiabulls Real Estateis among India's top Real Estate companies with development projects spread across residential complexes, integrated townships, commercial office complexes, hotels, malls, Special Economic Zones (SEZs) and infrastructure development. Indiabulls Real Estate partnered with Farallon Capital Management LLC of USA to bring the first FDI into real estate in the country. The company has a networth of Rs 7,403 Crore and has purchased prime land, mostly in the metros and other Tier 1 cities worth Rs 4,000 Crore in government auctions alone. Indiabulls Real Estate is currently developing 72.86 million sqft into premium quality, high-end commercial, residential and retail spaces. The company has been assigned 'A+' rating.

Indiabulls Securitiesis one of India's leading capital markets companies providing securities broking and advisory services. Indiabulls Securities also provides depository services, equity research services and IPO distribution to its clients and offers commodities trading through a separate company. These services are provided both through on-line and off-line distribution channels. Indiabulls Securities is a pioneer of on-line securities trading in India. Indiabulls Securities in-house trading platform is one of the fastest and most efficient trading platforms in the country. Indiabulls Securities has been assigned the highest rating BQ-1 by CRISIL.

INDIABULLS FOUNDATION

India has witnessed an economic transformation over the past two decades, translating into higher incomes, better educational opportunities, improved infrastructure, a dynamic private sector, and leadership in the global community. We have much to be proud of.

But we also recognize that we have a long way to go. Over 700 million people live under $2 a day. Learning levels in schools remain abysmally low, and most of our rural population does not have access to basic health care, regular electricity, clean water, and sanitation. India has some of the worlds worst statistics on basic development indicators such as malnutrition, infant mortality, and gender discrimination.

As a society, we are at the confluence of accelerated economic progress and extreme deprivation. As corporate citizens, we at Indiabulls are conscious of the opportunities and the responsibility that this confluence presents and are keen to help in building an inclusive society.

One of the first initiatives of Indiabulls Foundation is to support the development of rural districts. We have initiated a few pilot projects in Rajasthan with anopen collaborative approachwhich leverages the efforts of local stakeholders for a robust and scalable structure. Over time, as we understand the effectiveness of these pilots, we will expand them further.

Some of these pilot projects are in rainwater harvesting, groundwater management, tree plantation, IT projects for rural development, income generation support for rural women, skills training for rural youth, conducting eye camps for rural schoolchildren and in trying to be of support to traditional artisans.

FINANCIALS:

Total Group Networth Rs. 19,335 Cr

Total Group PAT for FY 12-13 Rs. 1,454 Cr.

Total Group Capital Expenditure Rs. 6,200 Cr. (US $ 1.2 bn.) capex in FY 10-

11. Planned capex of Rs. 29,000 Cr (US $ 5.7 bn.) by FY 2014-15.

Focus on Execution and on ground results translating into profits.

For its ongoing projects Indiabulls Group consumes 385 MT of Steel, 550

MT of Cement & 1,700 CUM of RMC on daily basis.

Creating Value for Shareholders Dividend payout of Rs. 913 Cr. in FY 12-13

Investors

Statement of unclaimed and unpaid amounts Indiabulls Group Presentation Code Of Conduct for Board Members and Senior Management Shareholding Pattern of Indiabulls Power Limited. as on 30 th June 2012QUERIES

Kubeir KheraIndiabulls House, Indiabulls Finance Centre,Senapati Bapat Marg, Parel West, Mumbai - 400 013Phone: +91 22 61899400 | Fax: +91 22 61899400Email: [email protected] ANALYSIS

& INTERPRETATION

1) How long have you been associated with this organization?Aspects

No. of respondentsPercentage (%)

Below 1 year1025

1 to 2 years2440

2 to 4 years1017

4 to 6 years0610

More than 6 years0508

Total60100

Interpretation:

In the above analysis it shows that out of all respondents, 25% of respondents are working with the organization below one year, 40% of respondents are working with the organization between 1 to 2 years, 17% of respondents are working with the organization between 2 to 4 years, 10% of respondents are working with the organization between 4 to 6 years and 8% of respondents are working with the organization above the 6 years..2) What is the level of the employee grade in organizational hierarchy?

Aspects


Level 14067

Level 22033

Level 30000

Total60100

Interpretation:

In the above analysis it shows that out of all respondents, 67% of more respondents come under level 1 and 33% of respondents comes under level 2 of the organization.3) What is the salary range?

spects


Below Rs5000/-2643

Rs5000/- to Rs10000/-1830

Rs10000/- to Rs15000/-1220

Rs15000/- to Rs25000/-0305

More than Rs25000/-0102

Total60100

Interpretation:

In the above analysis it shows that out of all respondents, 43% of respondents are working below the salary of Rs5000/-, 30% of respondents are working between the salary of Rs5000/- to Rs10000/-, 20% of respondents are working between the salary of Rs10000/- to Rs15000/-, 5% of respondents are working between the salary of Rs15000/- to Rs25000/- and 2% of respondents are working with the salary of above Rs25000/- .4) Considering the competitors pay package while determining the package of employees?

Aspects


Yes2643

No3457

Total60100

Interpretation:

In the above analysis it shows that out of all respondents, 43% of respondents said yes, that they are considering competitors pay packages in determining their pay package and rest of 57% of more respondents said no to that. 5) What are the factors used to determine the pay?

Aspects


Competitors benchmarking3050

Salary survey2440

Any other0610

Total60100

Interpretation:

From the above analysis it shows that the out of all respondents, 50% of more respondents said they are using competitors benchmarking, 40% of respondents said they are using salary survey and 10% of respondents said dont know the factors determining their pay.

6) How often is the salary revised?

Aspects


Every 3 months 0203

Every 6 months1830

Every year4067

Total60100

Interpretation:

From the above analysis it shows that the out of all respondents, 67% of more respondents said that their salary is getting revised every year, 30% of respondents said that their salary is getting revised for every 6 months and rest of 3% of respondents said that their salary is getting revised for every 3 months.

7) What are the satisfaction levels of pay?

Aspects


Highly satisfied0407

Satisfied0813

Neither satisfied nor dissatisfied3457

Dissatisfied1220

Highly Dissatisfied0203

Total60100

Interpretation:

From the above analysis it shows that the out of all respondents, 57% of more respondents neither satisfied nor dissatisfied, 20%of respondents dissatisfied, 13% of respondents satisfied, 7% of respondents highly satisfied and 3% of respondents highly dissatisfied with the providing pay packages in the organization.

8) Is the organizational pay structure motivating employee towards work?

Aspects


Yes2643

No3457

Total60100

Interpretation:

In the above analysis it shows that out of all respondents, 43% of respondents said yes and rest of 57% of more respondents said no to that they are not getting motivated by their pay package.9) Is the organization providing merit pay?

Aspects


Yes2043

No4057

Total60100

Interpretation:

In the above analysis it shows that out of all respondents, 33% of respondents said yes, that they are getting paid for merit and rest of 67% of more respondents said no to that. 10) Is the pay structure retaining employee to this organization?

Aspects


Highly satisfied0407

Satisfied1017


Dissatisfied1220


Total60100

Interpretation:

From the above analysis it shows that the out of all respondents, 53% of more respondents neither satisfied nor dissatisfied, 20%of respondents dissatisfied, 17% of respondents satisfied, 7% of respondents highly satisfied and 3% of respondents highly dissatisfied with their retention because of pay packages in the organization.

11) Satisfaction and dissatisfaction level towards, whether the Salary system in your organization or not.

LEVEL OF OPTION NO. OF RESPONENTS % OF RESPONDENT

YES 4284

NO 816

INTREPRETATION:- From the above bar graph it can be seen that among 50 employees, 84% of employees are satisfied with the Salary system used in organization 16% of employees are not satisfied Salary system whereas we need to give more focus on dissatisfied employees.

12. Are u satisfied with incentives and benefits provided other than salary?

(a) YES (b) NO

s.noOptions No. of ResponsesPercentage

1YES8888

2NO1212

TOTAL100100

SHAPE \* MERGEFORMAT

Interpretation:

A majority of 88% of the employees said that a good workman gets motivated with frequent Compensative pay and 12% of the employees are not satisfied with above.

13. Do you think that you are compensated higher than your competitor organizations

(a) YES (b) NO

S.NOOPTIONSNO OF RESPONDENTS% OF RESPONDENTS

1YES7272

2NO2828

TOTAL100100

Interpretation: 72%of the employees feel that they are compensated more than their competitors. The company should pay competitive salaries so that employees are

14.Is the organization maintains the record as per government norms.

LEVEL OF OPTION NO. OF RESPONENTS % OF RESPONDENT

YES 56100

NO 00

INTERPRETATION:- From the above bar graph it can be seen that among 50 employees, 100% of the employees are satisfied by the maintenance of all reports by the organization according to the government norms and no case is reported against the organization till date of violation of government rule and policy from the respondents.

15. The maintains of Employee details confidentially.

LEVEL OPTIONSNO.OF RESPONDENTS% OF RESPONDENTS

YES 46 92

NO 4 8

CHART NO. 4.14.14

SOURCE: PRIMARY DATA

INTERPRETATION :

92% of the Employees are satisfied by the maintains of Employee inputs and we need to more focus on the 8 % dissatisfied

CHAPTER-VFINDINGS

AND

SUGGESTIONS

CONCLUSIONS

1. From the Questionnaire which we have collected from the employees, we can conclude that the age group in organization was from below 1 year to above 6 years.

2. Most of the employee pay grades fall in level 1 and level 2 of the hierarchy.

3. The range of the salary starts from below Rs5000/- to above Rs25000/-.

4. Concluded that the various factors used to determine the pay.

5. The multiple voices of satisfaction levels were seen.

6. It was concluded that employee retention was in balanced stage in the organization.

FINDINGS

1. Most of the employees working in the organization have the service between 1 to2 years.

2. Most of the employee pay grades fall in the level 1.

3. Most of the employees are working under the salary range of below Rs5000/-.

4. Most of the employees disagree that organization is not considering competitor pay structure in determining pay.

5. Most of the employees say bench marking is the determining factor of pay.

6. Most of the employees say that the salary is getting revised every year.

7. Most of the employees neither satisfied nor dissatisfied with their salaries.

8. Most of the employees say that pay is not at all motivating towards work.

9. Most of the employees say that they are not getting provided merit pay.

10. Most of the employees neither they satisfied nor dissatisfied in retaining to the organization about the pay.

SUGGESTIONS

1. Employees are expecting merit pay, so they want their pay based upon their performance.2. Company has to focus on the experienced employees not to go away from the organization.3. The satisfaction levels of employees regarding salary is less, so better to provide fair remuneration.

4. Along with salary, providing other facilities like food coupons may retain lower level employees.

5. It is better to make the employee know exactly on what basis salary is getting determined, it may lead to satisfy, motivate, retain to organization.QUESTIONNAIREQUESTIONNAIRE ON PAYROLL MANAGEMENT

Name: _______________________________ Age: ___________________

Designation: ________________________ Qualification: _____________

1) How long have you been associated with this organization? ( )

a) Below 1 year b) 1 to 2 years c) 2 to 4 years

d) 4 to 6 years e) More than 6 years

2) What is the level of the employee grade in organizational hierarchy? ( )

a) Level 1 b) Level 2 c) Level 3

3) What is the salary range? ( )

a) Below Rs5,000/- b) Rs5,000/- to Rs10,000 c) Rs10,000/- to Rs15,000/-

d) Rs15,000/- to Rs25,000/- e) Above Rs25,000/-

4) Considering the competitors pay package while determining the package of employees? ( ) Yes/No

5) What are the factors used to determine the pay?

a) Competitors benchmarking b) Salary survey c) Any other (Please specify)

6) How often is the salary revised? ( )

a) Every 3 months b) Every 6 months c) Every year

7) What are the satisfaction levels of pay? ( )

a) Highly satisfied b) Satisfied c) Neither satisfied nor dissatisfied

d) Dissatisfied e) Highly dissatisfied

8) Is your organizational pay structure motivating you towards work? Yes/No

9) Is the organization providing merit pay? Yes/No

10) Is the pay structure retaining employee to this organization? ( )

a) Highly satisfied b) Satisfied c) Neither satisfied nor dissatisfied

d) Dissatisfied e) Highly dissatisfied

11) Satisfaction and dissatisfaction level towards, whether the Salary system in your organization or not.

(a) YES (b) NO12. Are u satisfied with incentives and benefits provided other than salary?

(a) YES (b) NO

13. Do you think that you are compensated higher than your competitor organizations?

(a) YES (b) NO

14. Is the organization maintains the record as per government norms? Yes/No

15. The maintains of Employee details confidentially? Yes/NoBIBLIOGRAPHY

BIBILOGRAPHY C.B.MAMORIA ___ PERSONNEL MANAGEMENT

E.SUBBA RAO ___ HUMAN RESOURCE DEVELOPMENT K.ASWATHAPPA ___ OGRANISATIONAL BEHAVIOUR

Websites

http:///

HYPERLINK "http://www.hr.ucdavis" www.hr.ucdavis http:///

HYPERLINK "http://www.hr.uwa.edu" www.hr.uwa.edu

EMBED Excel.Chart.8 \s










12% NO

88% YES

% of respondents

67

_1333198475.xlsChart8

20

40

Merit pay

Sheet1


Salary survey24

Any other6

Yes26

No34

Highly satisfied6.7Yes20

Satisfied13.3No40

Neither satisfied nor dissatisfied56.6

Dissatisfied20

Highly Dissatisfied3.4

Sheet1

Merit pay

Sheet2

Sheet3

_1333340070.xlsChart2

7

13

57

20

3

Aspects

Percentage

Pay satisfaction levels

Sheet1

Highly satisfied7

Satisfied13


Dissatisfied20


Sheet1

Aspects

Percentage

Pay satisfaction levels

Sheet2

Sheet3

_1333340177.xlsChart3

43

30

20

5

2

Aspects

Percentage

Salary range

Sheet1

Highly satisfied7

Satisfied13


Dissatisfied20


Below Rs5000/-43

Rs5000/- to Rs10000/-30

Rs10000/- to Rs15000/-20

Rs15000/- to Rs25000/-5

More than Rs25000/-2

Sheet1

Aspects

Percentage

Salary range

Sheet2

Sheet3

_1333340300.xlsChart4

25

40

17

10

8

Aspects

Percentage

Experience levels

Sheet1

Highly satisfied7

Satisfied13


Dissatisfied20


Below Rs5000/-43Below 1 year25

Rs5000/- to Rs10000/-301 to 2 years40

Rs10000/- to Rs15000/-202 to 4 years17

Rs15000/- to Rs25000/-54 to 6 years10

More than Rs25000/-2More than 6 years8

Sheet1

0

0

0

0

0

Aspects

Percentage

Experience levels

Sheet2

Sheet3

_1333339934.xlsChart1

7

17

53

20

3

Aspects

Percentage

Employee retention

Sheet1

Highly satisfied7

Satisfied17


Dissatisfied20


Sheet1

Aspects

Percentage

Employee retention

Sheet2

Sheet3

_1333197387.xlsChart5

2

18

40

Salary rivision

Sheet1


Salary survey24

Any other6

Yes26

No34

Every 3 months2

Every 6 months18

Every year40

Sheet1

0

0

0

Salary rivision

Sheet2

Sheet3

_1333198285.xlsChart7

26

34

Motivation levels of pay

Sheet1


Salary survey24

Any other6

Yes26

No34

Highly satisfied6.7

Satisfied13.3

Neither satisfied nor dissatisfied56.6

Dissatisfied20

Highly Dissatisfied3.4

Sheet1

Motivation levels of pay

Sheet2

Sheet3

_1333196628.xlsChart3

30

24

6

Factors to determine pay

Sheet1


Salary survey24

Any other6

Sheet1

0

0

0

Factors to determine pay

Sheet2

Sheet3

_1333197034.xlsChart4

26

34

Consideration of competitors pay

Sheet1


Salary survey24

Any other6

Yes26

No34

Sheet1

Consideration of competitors pay

Sheet2

Sheet3

_1333195317.xlsChart1

40

20

0

Levels of grade

Sheet1

Level 140

Level 220

Level 30

Sheet1

0

0

0

Levels of grade

Sheet2

Sheet3

payroll management-.doc

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