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PROJECT TITLE

“WELFARE AND INCENTIVE SCHEMES

BY IRCON”

For the partial fulfillment of

Master of Business Administration

ISLAMIC UNIVERSITY OF SCIENCE &

TECHNOLOGY

Awantipora

(2011 - 2013)

SUBMITTED BY

SHEIKH MOHD YASIR

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CERTIFICATE

This is to certify that Sheikh Mohd Yasir student of ISLAMIC

UNIVERSITY OF SCIENCE AND TECHNOLOGY,AWANTIPORA has

completed his field work report at IRCON INTERNATIONAL LMTD. On

the topic of “Welfare and Incentives Schemes by IRCON” and has

submitted the field work report in partial fulfillment of MASTER IN

BUSINESS MANAGEMENT of the IUST for the academic year 2011-13.

He has worked under our guidance and direction. The said report is

based on bona fide information.

UNDER THE GUIDANCE AND SUPERVISION OF

Mr. Nagendra Joshi & Mr. A. Mohan

JGM Finance Extension Manager HRM

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ISLAMIC UNIVERSITY OF SCIENCE AND TECHNOLOGY

DECLARATION

I hereby declare that the project titled “Welfare and Incentives Schemes

by IRCON” is an original piece of research work carried out by me under

the guidance and supervision of Mr. Nagendra Joshi (JGM Finance) and

Mr. A. Mohan (Extension Manager HRM). The information has been

collected from genuine & authentic sources. The work has been submitted

in fulfillment of MASTER IN BUSINESS MANAGEMENT of IUST.

Sheikh Mohd Yasir

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ACKNOWLEDGEMENT First and foremost I thank to Almighty Allah for showering his choicest blessings on me. Without His grace, I would not have been what I am today. Any creation does not only outcome of one’s effort but also happens to be reflections of the imprints what people has left on the person and mine is no exception. Therefore, it becomes a question of my veracity to convey my wish of thanks to all. On the verge outset I would like to thank Allah who is an integral part and pillar of my success. His grace and guidance helped me to present work in the present form. The joy of ingenuity!!! This is doubtlessly what this project is about. Before getting to brass tacks of things. I would like to add a heartfelt word for the people who have helped me in bringing out the creativeness of this project. To commence with things I would like to take this opportunity to gratefully and humbly thank to Project guide, Mr. Nagendra JOSHI & Mr. A. Mohan, IRCON, BANIHAL, for being appreciative enough by giving me an opportunity to undertake this project IRCON. My parents need special mentions here for their constant support and love in my life. I also thank my friends and well wishers, who have provided their whole hearted support to me in this exercise. I believe that this Endeavor has prepared me for taking up new challenging opportunities in future.

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INDEX

Topic

Page number

Introduction

7-8

Objective

10

Research Methodology

12

Company Profile

14-17

Literature Survey

20-46

Data Analysis

48-51

Findings

53

Conclusion

55

Suggestions

57

Bibliography

59

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INTRODUCTION

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INTRODUCTION

An incentive is something that motivates an individual to perform an

action. The study of incentive structures is central to the study of all

economic activity (both in terms of individual decision-making and in terms

of co-operation and competition within a larger institutional structure).

Economic analysis, then, of the differences between societies (and

between different organizations within a society) largely amounts to

characterizing the differences in incentive structures faced by individuals

involved in these collective efforts. Ultimately, incentives aim to provide

value for money and contribute to organizational success.

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Categories;

Incentives can be classified according to the different ways in which they motivate agents to

take a particular course of action. One common and useful taxonomy divides incentives into

four broad classes:

Class Definition

Remunerative

incentives

Are said to exist where an agent can expect some form of material reward —

especially money — in exchange for acting in a particular way.

financial

incentives

Moral

incentives

Are said to exist where a particular choice is widely regarded as the right

thing to do, or as particularly admirable, or where the failure to act in a certain

way is condemned as indecent. A person acting on a moral incentive can

expect a sense of self-esteem, and approval or even admiration from his

community; a person acting against a moral incentive can expect a sense of

guilt, and condemnation or even ostracism from the community.

Coercive

incentives

Are said to exist where a person can expect that the failure to act in a

particular way will result in physical force being used against them (or their

loved ones) by others in the community — for example, by inflicting pain in

punishment, or by imprisonment, or by confiscating or destroying their

possessions.

Natural

Incentives

such as curiosity, mental or physical exercise, admiration, fear, anger, pain,

joy, or the pursuit of truth, or the control over things in the world or people or

oneself.

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OBJECTIVE

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OBJECTIVE

1. To study the welfare and incentive schemes provided by IRCON

International Ltd to their employees

2: To study the various sources of incentives in IRCON.

3: To learn about what is followed by IRCON in incentive management.

4: To search or headhunt people whose skill fits into the company‘s values.

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RESEARCH

METHODOLOGY

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REASERCH METHODOLOGY

In everyday life human being has to face many problems viz. social, economical,

financial problems. These problems in life call for acceptable and effective solutions and

for this purpose, research is required and a methodology applied for the solutions can be

found out.

Research was carried out at IRCON INTERNATIONAL Ltd. to find out the ―Welfare and

Incentive schemes‖.

DATA COLLECTION:

Primary Data:

Primary data was collected through survey method by distributing questionnaires to

employees. The questionnaires were carefully designed by taking into account the

parameters of my study.

Secondary Data:

Data was collected from books, magazines, web sites, going through the records of the

organization, etc. It is the data which has been collected by individual or someone else

for the purpose of other than those of our particular research study. Or in other words we

can say that secondary data is the data used previously for the analysis and the results are

undertaken for the next process.

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COMPANY PROFILE

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HISTORY

IRCON is a specialized Constructions organization covering the entire spectrum of

construction activities and services in the infrastructure sector. However, Railway and

Highway Construction, EHP sub-station (engineering and constructions), and MRTS are the

core competence areas of IRCON.

IRCON operates not only in a highly competitive environment but also in difficult terrains

and regions in India and abroad and is an active participant in prestigious nation building

projects. IRCON has so far completed more than 280 infrastructure projects in India and more

than 90 projects across the globe in more than 21 countries.

Area of Business:

The core competence areas of operation of the Company in order of priority are - Railway,

Highway and EHT Substation Engineering and Construction. IRCON is a turnkey

construction company that is specialized in Railways (New Railway lines,

rehabilitation/conversion of existing lines, Station Buildings and facilities, Bridges, Tunnels,

Signaling and Tele-communication, Railway Electrification, and Wet Leasing of

Locomotives), Highways, EHV sub-station (engineering, procurement and construction) and

Metro rail.

Major Projects of Company:

Malaysia

Project includes Design, construction, completion, testing, commissioning and maintenance of

the double track project between Seremban and Gemas, Malaysia. Ircon is helping Malaysia

revive a multibillion-dollar rail project that had been shelved in 2003 due to its high cost,

Malaysia's transport minister said Saturday, according to a report. - 21 April 2007 - India's

Ircon to take part in multibillion-dollar railway project in Malaysia. After winning this project

worth USD 1 Billion in Malaysia for doubling of track, IRCON has became the first PSU of

Ministry of Railways to bag the largest value project in a foreign country. The company

thereafter was awarded the rehabilitation of Railway line projects of about 250 million US$ in

Sri Lanka.

J&K,India

The project deals with design and construction of New BG Rail link from Quazigund – Baramulla (both

stations inclusive) in Kashmir valley inclusive of planning, design and construction of all the services

and residential buildings, circulating area, parking, platforms, subways, shelters and other allied

structures of all stations involved the construction of Rail link between Quazigund and Baramulla

(Total Length 117 km) in Kashmir Valley.

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The project was turnkey construction involving the following areas:

Survey & Design

Infrastructure Works (Earthwork, Bridges)

Track Work

Signaling Works

Electrical Works

The project is unique and challenging in the aspect that it passes through the difficult terrain,

inaccessible areas and working in the region severely affected by militancy. The project posed the

challenge by involving high bridges, viaducts and tunnels. IRCON was assigned the work by Ministry

of Railways on the ground of its capability of executing the work in challenging and difficult areas.

IRCON successfully completed above project despite adverse climate and conditions. At a time of

heavy snow fall and rain fall when there was no work going on in the valley IRCON engineers and

staff were on the job completing the work in a tight time frame.

Bihar, India

The scope of the project is construction of steel superstructure and other ancillary works of rail cum

Road Bridge across river Ganges at Patna. It is one of its own kind because of huge steel structured

bridge amounting to over INR 1200 Crores. This is going to be the first largest steel girder bridge

Milestones Achieved

Total length of track laid = 2025.62 km

Total length of track (Ongoing Projects) = 1174 km

Countries of operation

Malaysia

Sri Lanka

Mozambique

Iraq

Iran

Algeria

Iran

Bangladesh

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Awards and accolades;

IRCON has been a consistent winner of the Highest Foreign Exchange Earner Award in the

construction sector. From Engineering Export Promotion Council, the Company has won 18

Awards of Excellence, including the All India Trophy for the Top Exporters in the category of

Merchant Exporters in recognition of the outstanding contribution to Engineering Exports.

From Project Exports Promotion Council of India, IRCON has won 42 Awards of Excellence,

including, The Award for Maximum Foreign Exchange Earned and Repatriated to India from

Overseas Service Contracts. Some of the awards are listed below:

First to get the ISO-9001:2008 Certification from TUV Germany

National Citizen's Award for Unique Contribution in the Field of Engineering Projects

Award for Excellence Received from Department of Public Enterprises

Customers:

1. Government of India

2. Indian Railways

3. Delhi Metro Rail Corporation

4. Ministry of Road Transport & Highway

5. National Highway Authority of India

6. Rail Vikas Nigam Limited

7. Malaysia Railway

8. Mozambique Ports and Railways

Ircon Infrastructure & Services Limited (IISL)

Ircon Infrastructure & Services Limited (A wholly owned subsidiary of Ircon International

Limited) was incorporated under the Companies Act, 1956 on 30 September 2009. The

Company has obtained a Certificate of Commencement of Business on 10 November 2009

from the office of Registrar of Companies. The main objects of the company as enshrined in

its Memorandum and Articles of Association are to undertake infrastructure projects; to carry

on any infrastructure construction work on Build-Operate-Transfer (BOT), Build-Own-

Operate-Transfer (BOOT), Build-Lease-Transfer (BLT), etc. or otherwise or any other

scheme or project found suitable in and related to the field of infrastructure projects and other

ancillary fields; planning, designing, development, improvement, commissioning, operation,

maintenance, etc. in the field of construction of infrastructure of Multi-Functional Complexes

(MFCs), etc. to provide facilities and amenities to users of Indian Railway System. News:[1];

and all matters in the field of real estate and allied areas to make use of the opportunities that

may arise. This includes providing project management, quality management, safety, health

and environment related consultancy services to clients.

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Following are its main clients:

Ministry of External Affairs (India)

Ministry of Railways (India)

Key person:

Mohan Tiwari mohan.tiwari@ircon.org

Chairman & Managing Director

K.K. Garg kk.garg@ircon.org

Director (Finance)

Deepak Sabhlok deepak.sabhlok@ircon.org

Director (Projects)

Mr. Hitesh Khanna hitesh.khanna@ircon.org

Director (Works)

Saswati Bandopadhyay cvo@ircon.org

(Chief Vigilance Officer)

Lalitha Gupta lalitha.gupta@ircon.org

(Company Secretary & GM/Law)

Vision and Mission of Company:

Vision

To be recognized nationally and internationally as a specialized construction organization

comparable with the best in the field covering the entire spectrum of construction activities

and services in the infrastructure sector.

Mission

i) To effectively position the Company so as to meet the construction needs of infrastructure

development as per the changing economic scenario in India and abroad.

ii) To earn global recognition by providing high quality products and services in time and in

conformity with the best engineering practices as well as good corporate governance and

customer satisfaction.

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Location of Head Quarter

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LITRATURE SURVEY

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MULTI PURPOSE ADVANCE;

Purpose, Eligibility & Quantum

All regular employees including deputations are eligible for multipurpose advance to meet varied

financial needs of emergent nature like marriages / social functions, education of children,

furnishing of house, purchase of electronic appliances including computer for home and to meet

other domestic requirements, contingencies etc as per details given below: -

10 times of basic pay (IDA scale employees), and

10 times of basic pay and Grade pay put together (CDA scale employees).

Subject to a ceiling of Rs. 200000/- or Max., whichever is less.

Adhoc employees can be sanctioned advance only in very special circumstances, on case to case

basis, as decided by the competent authority subject to the condition that they should have

completed five years uninterrupted service in the company.

Rate of interest. 7.5% (Simple).

Repayment;

The principal shall be recoverable first in maximum 60 installments followed by interest in

maximum 10 installments and in case of deputationists before the expiry of the deputation period.

Number of occasions on which advance can be granted;

An employee can avail of this advance in one or a maximum of two installments only, during his /

her entire service in the company.

Surety;

Employees with less than 10 years of service will have to give one surety. In case of deputationists,

services rendered in their parent organization will also be counted for this purpose. Surety has to be

of an IRCON employee only having not less than 5 years residual service on the date of

application.

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MEDICAL BENEFITS;

Spouse, dependent unmarried / widowed / separated daughter, dependent unmarried son upto the

age of 25 years, (children born after 31 01 2003 to parents having more than two children,

including step children and adopted children will not be entitled to medical benefits), dependent

parents, dependent unmarried brothers / sisters up to age of 18 years residing with the employee.

Dependent means those members whose average monthly income from all sources during the

financial year of the claim does not exceed Rs. 2723/- p.m. or 15% of the employee‘s pay,

whichever is more. A Dependency Certificate will be submitted by the employee while preferring

any claim for medical reimbursement. The various medical benefits are as under.

Outdoor Treatment;

Outdoor medical treatment includes consultation, diagnostics and treatment both at the consulting

room of the Authorized Medical Attendant (AMA) and at the residence of the employee. The

expenses for outdoor treatment is being paid proportionately every month, as detailed below, along

with monthly salary.

Designations Entitlements

Managing Director Rs. 2363/- p.m.

Directors Rs. 2075/- p.m.

General Managers Rs. 1958/- p.m.

Addl. General Managers Rs. 1767/- p.m.

Joint General Managers Rs. 1658/- p.m.

Deputy General Managers Rs. 1383/- p.m.

Managers Rs. 1302/- p.m.

Assistant. Managers Rs. 967/- p.m.

A.O.S./ S.O./ JE & below Rs. 667/- p.m.

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Employees, being paid proportionate amount every month are required to furnish declaration, in the

prescribed format about utilization of annual outdoor entitlement latest by January every year,

failing which it may attract TDS.

Indoor Treatment;

Indoor treatment means treatment including diagnostics and consultations leading to indoor

admission / hospitalization and follow-up diagnostics, consultations and medicines upto 30 days

from the date of discharge and only if there is a specific advice for follow-up consultation / tests at

the time of discharge from hospital / nursing home.

The expenses on indoor treatment will be reimbursed if the treatment is taken in Govt. Hospital,

Government aided hospital, Trust hospital operating on a no-profit-no-loss basis and Hospital /

Nursing Home registered with the local bodies / State Government. Company is maintaining a

database of hospitals, Reimbursement of expenses incurred on diagnostics and treatment during

hospitalization shall be as per actual.

Reimbursement on account of room rent shall be restricted as under:-

Designations Ceiling of Room Rent (rupees per day) for different cities (City

classification is as in case of HRA)

X Y Z Unclassified

MD / Directors …. 10000 5000 2500 1625

AGN‘s &above but

below Board level

…. 8750 4375 2188 1375

Assistant Managers to

JGM & equipment

…. 4500 2250 1125 675

AO/AE …. 3700 1850 925

Below asstt. …. 2900 1450 375 725

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NOTE: The rates for diagnostics, room rent and treatment given above for indoor treatment will

apply to self, spouse and children. In case of dependents other then spouse and children, the rates

applicable will be that as would have been applicable to the employee if the treatment had been

taken in AIIMS, New Delhi.

Ambulance charges for emergent transportation of the employees and members of their family

from residence to hospital by road shall be reimbursable as per actual on production of voucher /

money receipt from the hospital / service provider only in those cases where the patient has been

admitted to the hospital.

Advance for the purpose of Indoor medical treatment can be sanctioned on furnishing an estimate

of the likely expenditure from registered hospitals where treatment is proposed to be taken.

Advance shall be released through a cheque / draft in favour of the hospital. Bills / vouchers shall

be submitted within 30 days from the date of discharge from the employee‘s salary from the next

month, unless condoned by the competent Authority in exceptional cases. Unutilized / non-

reimbursable portion of medical advance may be returned in a maximum of 2 interest free

installments.

Reimbursement for indoor treatment shall be made only for the allopathic system of treatment.

Special Diseases;

Reimbursement of expenses for outdoor treatment on- Cancer, Cardiac ailments, Kidney ailments,

treatment arising out of accidents / fire, etc., Diabetes, Mental Diseases, Poliomyelitis, Cerebral

Palsy and Spastics, Tubercular diseases, Thalassaemia major, AIDS, Hypertension, Glaucoma and

Prostates (considered as special diseases) shall be made as per actual and would be in addition to

the ceilings for outdoor treatment, with the approval of competent authority. Diagnosis of the above

diseases must be properly and legibly mentioned on the prescription by Authorized Medical

Attendant (AMA), failing which it will be processed for reimbursement as if for normal medical

reimbursement. The consultation charges for outdoor treatment of special diseases would be as

under:

At AMA‘s clinic - Rs. 200/- per consultation

With specialists - Rs. 500/- per consultation

Ceiling on charges for subsequent consultations will be 80% of the initial fees.

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Periodical Medical Check-up (PMC)

The employee and his / her spouse between the age of 50 (46 years in case of female employees

and wife of male employees) and 56 years are entitled to a comprehensive medical checkup at

company‘s expenses every alternative year; and, those who are of above 56 years of age every year

till superannuation / retirement of the employee, in the hospital nominated by the company for this

purpose.

In case of any suspected abnormality detected during medical checkup, further investigation and

tests may be carried out as considered necessary and the costs will be reimbursed as part of the

Periodical Medical Checkup. Expenses on this account would be in addition to the ceilings for

outdoor treatment.

The periodical medical checkup shall include:-

For Males

General Physical Examination.

Routine urine and stool examination.

Eye examination-Ophthalmologic assessment.

X Ray-Chest (P.A.view), Resting Electro-cardiography.

Hematology (HB, TLC, DLC, ESR & Blood group), Blood sugar-fasting, PP Cholesterol,

Triglycerides, Urea, Creatinine, 8 Gamma G.T., SGOT, SGPT, Alk.Phosphates.

Ultrasound-Abdomen

Prostate specific antigen test

Tread Mill Test

For Females

Gynecological checkups with Pap smear,

General Physical Examination,

Routine urine and stool examination,

Eye examination-Ophthalmologic assessment,

X Ray-Chest (P.A.view), Resting Electro-cardiography,

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Hematology (HB, TLC, DLC, ESR & Blood group), Blood sugar-fasting, PP Cholesterol,

Triglycerides, Urea, Creatinine, 8 Gamma G.T., SGOT, SGPT, Alk.Phosphates,

Bone Densitometry Test,

Mammography

Ultrasound-Abdomen

Tread Mill Test

LEAVE TRAVEL CONCESSION (LTC) FOR HOME TOWN AND

ANY OTHER PLACE IN INDIA

Employees, except those who are not in the whole time employment of the company, casual

employees on daily rates and deputationists from Indian Railways, who have completed one

year‘s of journey can avail LTC for themselves and the members of their family for visiting home

town / any other place in India subject to the laid down conditions. The limitation of one year

would, however, not be applicable for the employees who join the company on deputation followed

by absorption or join on permanent absorption basis.

―Family‖ for the purpose of LTC would mean-

Self, spouse, legitimate children, step children, adopted child (if adoption is legally recognized and

confers the status of a natural child), major sons and married daughters (including widowed

daughters) so long as they are residing with the employee or the family and wholly dependent upon

the employee; and

Dependants i.e. parents, step-mother, sister (unmarried / widowed), minor brothers, if they are

residing with the employee or the family and wholly dependent upon him.

Note:

a) Legitimate child or step child / parents / sister / minor brother who are residing with the

employee or the family and whose income from all sources including pension and DA relief on

pension, interest income etc, does not exceed Rs. 2723/- p.m. or 15% of the pay of the employee,

whichever is more is deemed to be wholly dependent upon the employee.

b) Not more than two dependants can be included in the claim for LTC subject to the

condition that the total number of persons included in the LTC claim will not exceed 5 (five). This

limit will not apply if only self, wife and own children are included in the LTC claim.

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The LTC would be available for once in a block of two calendar years for visiting home town and

once in a block of four calendar year for visiting any other place in India in lieu of a visit to home

town. An employee can claim reimbursement of travel expenses from the headquarters / place of

residence of the family (as per the option) to home town / any other place in India and back limited

to total fare by the entitled class of travel.

The LTC not availed of in any particular block of two years may be carried forward to and availed

of before the expiry of the first year of the succeeding block provided outward journey for such

carried forward LTC is commenced before 31st December of that year regardless of the date of

completion of the return journey. The concession for visiting any place in India once in a block of

four year if not availed in any particular block will be allowed to be carried forward to the first year

of the next block of four years only if the employee is entitled to carry forward his concession to

visit home town to that year.

Block year of two calendar year is 2004-2005, 2006-2007 and so on. Block year of four calendar

years is 2004-2007, 2008-2011 and so on.

An employee and members of his family can also avail of the concession independently of each

other.

An employee whose family is living away from his / her headquarters may instead of availing the

concession for himself and family once in a block of two years, avail of the concession for himself

alone once every year for visiting home town. The amount of LTC claim would be limited to

reimbursement of travel expenses by rail from the headquarters to home town / any other place in

India and back.

The entitlement for LTC is as under:

Designation Entitlements

General Manager & above … Air Economy (Y) class by National Carrier, or AC

1st class by train.

AGM / JGM / Dy. General Manger … AC 1st class

Manager / AM / AE … AC II tier Sleeper

Below AM / AE but upto Assistant … First Class / AC-III tier

Below Assistant … Sleeper class

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Note:

a) Claims for traveling by Rajdhani / Shatabadi trains shall be entertained only if journey

is actually performed by these trains.

b) If an employee or his family travel by road, by private car or otherwise, the

reimbursement shall be equilant to what would have been admissible had the journey

been performed by the entitled class, or the actual expenses, whichever is less.

For claim against journey by road prior intimation of the competent authority is necessary.

The concession is restricted to journey within India only. In the case of a hometown falling outside

India, the company‘s assistance shall be limited to the fares for journey upto and from the railway

station in India nearest to the home town / port of embarkation / disembarkation in India.

Advance for both the journeys- (i.e. outward & return) would be admissible if both journey would

be completed within 90 days subject to following;

Upto 80% of the estimated fare for the entitled class.

65 days prior to commencement of outward journey through public transport i.e., Air / Rail

/ Ship / Bus / Package tours etc.

15 days prior to commencement of outward journey by own vehicle / private taxi.

Ticket for travel should be purchased within 15 days from the date of drawl of advance;

otherwise interest would be levied @ 15% p.m. from the date of drawl of advance.

If the outward journey is not commenced within the stipule period, the advance is to be

refunded within 10 working days failing which penal interest @ 15% per month shall be

levied w.e.f the date of drawl of advance.

The concession shall be admissible only when an employee proceeds on leave of any kind

including casual leave irrespective of the period of leave taken.

LTC can also be combined with transfer or tour with certain conditions.

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LEASE;

Assistant Managers / Assistant Engineers and above have the option to avail the facility of

‗LEASE‘ in lieu of ‗HRA‘. Lease facility can be availed by them at any place of their choice within

the country, wherever employees choose to retain their family.

The monthly rental ceilings given below are for unfurnished leased residential accommodation

where company owned accommodation is not available. These entitlements are applicable to third

party as well as self-leased residential accommodation.

Monthly rental ceilings for different places / cities are as under:

Designations Monthly Rental Ceilings in Rupees

(Class of cities)

X-class cities

30%

Y-class cities 20% Z-class cities 10%

ED / GM 21900-24000 14600-16000 7300-8000

Addl. G.M.s 19800 13200 1600

Joint G.G.M 18600 12400 6200

Dy.G.M.s 17400 11600 5800

Managers 16350 10900 5450

Dy.Managers 15150 10100 5050

Assistant

Managers

AE/AO

13950

12150

9300

8100

4650

4050

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Recovery of rent for providing leased accommodation is made at the rates given below:

Recovery 10% of Basic Pay (for CDA employee‘s Basic pay + Grade pay)

Brokerage Charges - equal to an amount not exceeding one month rental

(Not applicable on self-lease ceiling, payable directly to the broker if

& lease with relatives) accommodation is arranged through a broker

Advance Deposit - equal to 3 month‘s rental may be paid directly to the

(Not applicable on self-lease house owner (interest free). To be refunded to the

& lease with relatives) Company on expiry of the Lease.

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RETENTION OF IRCON‟S RESIDENTIAL ACCOMMODATION;

With the permission of the competent Authority, IRCON employees, including deputationists, may

be allowed to retain company owned / leased residential accommodation in various situations like

transfer / retirement / deputation / repatriation / resignation / death, etc, as detailed below:

S.No Event Retention period for Company owned

Quarters (in months)

Retention period for

Company leased Quarters

on normal rent

(in months)

On Normal Rent On Double the

Normal Rent

Total

1. Permanent Transfer Two Four Six Full period as per Lease

policy

2. Foreign Posting Two Two Four Full period. Entire rental to

be paid by the employee as

per lease policy.

3. Deputation to other

organizations

Two Two Four Two

4. Repatriation of a

deputationists (back to

parent deptt.)

Two Two Four Two

5. Death Six Two Eight Four

Normal rent is the rate of rent recoverable from the employee as decided by the Company from

time to time.

Retention on payment of double the rent in cases other than resignation / VRS / Termination will be

on grounds of sickness / education of children. Further retention on double the rent in such cases

beyond the prescribed period will be considered on educational grounds only to cover the current

academic session. Extension for retention of accommodation on any account should be supported

by documentary evidence. Application for retention should reach the competent authority may be

submitted within two months.

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Retention of any residential accommodation beyond the period permitted by the competent

authority shall automatically be treated under unauthorized occupation and penal rent @ Rs. 1000/-

per day would become payable for the entire period of unauthorized occupation. In addition to levy

of penal rent, the Company would have the right to initiate eviction proceedings and to take

disciplinary action under IRCON‘s Conduct Discipline & Appeal Rules.

UNIFORM;

Category Scale of Uniform

i) All supervisory staff (a) One rain coat after every three years.

required to do field

work (Site Engineer and below) (b) Sufficient number of gumboots may be

kept in the project office for issue to the

persons who need them for site work.

ii) Chowkidars .. (a) One rain coat after every three years.

(b) One woolen jersey in winter every year

(except in Mumbai / Navi Mumbai /

Chennai & Kolkatta areas)

iv) Messengers, car & Motor (a) Summer - Two pants and two bush-

Drivers (other than shirts duly stitched to the size of the

Casual and daily rated) in individual employee with IRCON logo

Corporate Office and on the left-hand pocket of the bush-shirt,

Projects in India. Once in every two years.

(b) Winter – One navy blue wollen suit

(closed collar coat and pant) with

IRCON logo on left hand side of the

coat-duly stitched to size of the

individual employee, every two year

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WELFARE SCHEMES;

Schemes for the welfare of IRCON employees and the financial support and assistance provided for

their wards by the Company are given below-

A. EDUCATIONAL

S.No Scheme Eligibility Educational course & the amount of

incentive

1. Scholarships to wards

of IRCON employees

a) Employees in the scale of pay not

exceeding Rs. 6500-10500 in CDA

pattern and equivalent IDA scales.

b) Ward should not be recipient of any other educational scholarship from

any other source for the concerned

period.

c) Scholarship is restricted upto two

children only.

Post - Rs. 4,000/-

Graduation Per child

Graduation - Rs. 3,000/- Per child

6th to 12th - Rs. 2,500/-

Per child

1st to 5th class - Rs. 1,500/-

Per child

2. One time educational

grant to wards of

IRCON employees

Employees in the scale of pay upto Rs.

6500-10500 in CDA or equivalent IDA

scale. To be paid at the time of admission

only in respect of the following courses:

Degree / Diploma courses or

equivalent courses in Medical / Engineering / MBA.

BCA / LAW / BBA degree / 3

years Technical / Engg. diploma

course. Course should be from a

reputed institute recognized by

the University under the

University Grants Commission.

Rs. 10,000/- (for 5 years degree courses)

and Rs. 7500 (for 3 years Degree /

Diploma courses)

OR

Actual educational cost, whichever is less,

on production of original cash memo /

receipt.

3. Educational

Assistance

Wards of deceased employee-

The assistance is available upto the level

of Sr. Secondary only.

Total reimbursement shall be restricted to

actual educational cost or Rs. 10,000/- per

annum whichever is less, on production of

original cash memo / receipt.

4. Educational awards to

meritorious children

Wards of employees who have passed

10th or 12th Board examination

10th class - 80% marks and

above

12th

class - 75% marks and

above

Cash award with certificate.

33

B. MARRIAGE ASSISTANCE

1. Marriage assistance

for daughters /

dependant sisters

Group ‗C‘ and ‗D‘ only.

Assistance shall be restricted to two

daughters / dependent sisters.

Rs. 10,001/-

C. DISTRESS

1. Ex gratia payment To the next of kin of the employee who

dies in harness

Rs. 40,000/-

2. Funeral expenses To the next of kin of the employee who

dies in harness (contract / Adhoc employees

only)

Rs. 5.000/-

D. RECREATION / SPORTS

1. Sports All projects in India shall be sanctioned

an amount of Rs. 5,000/- to be utilized

for purchase of one carom board and one

badminton set (consisting of 1 badminton

net, 2 rackets and 1 shuttle-cock box).

Recurring cost for its maintenance etc.

shall be borne by the project itself.

Rs.5,000/-

2. (a) PICNIC_

Reimbursement of

traveling expenses for

arranging annual

picnic

Picnic – organized by all Indian

Projects –

All employees are eligible.

Transport charges @ Rs.200/- per

employee or actual whichever is less

subject to the picnic spot being within

100 kms. Radius of the project.

(b) Picnic organized by

Corp. Office

Corporate Office-

All employees posted in Corporate

Office

Transport charges for attending picnic for

the employees- reimbursed only once in a

year.

34

RESORT FACILITIES

S.No Resort Eligibility Amount

1.

2.

Old Anchor Dalmia

Resort Goa

Sterling Holiday

Resorts.

(They are having

Holiday Resorts at 40

locations in India and

one in Sri Lanka)

All employees with family

All employees with family

The employee has to pay service fee per

head per night and electricity charges.

Children below 12 years of age are free.

Charges vary from place to place and

season to season.

REIMBURSEMENT

Group B,C and D – 75% of both

service and electricity charges.

Group A- 60% of both service

and electricity charges.

All employees may submit their requests for availing resort facilities and subsequent claims to HR

Department, Corporate Office.

35

INCENTIVES

FAMILY PLANNING SCHEME;

For adopting small family norms, IRCON employees are eligible for incentives, as detailed below:

A. Cash incentives

Vasectomy Tubectomy IUD (Copper „T‟)

i) Amount for acceptors Rs. 100/- Rs. 100/- Rs. 9.00

ii) Drugs & Dressings Rs. 15/- Rs. 25/- ----

iii) Diet Rs. 10/- Rs. 30/- ----

iv) Transport Rs. 15/- Rs. 15/- ----

v) Misc. (including Motivator) Rs. 40/- Rs. 30/- Rs. 0.50

B. Special casual leave

6 days special CL to a male employee acceptor (Vasectomy).

14 days special CL to a female employee acceptor (Tubectomy).

7 days special CL to a male employee whose wife undergoes Tubectomy operation.

1 day special CL to a female employee accepting IUD Copper ‗T‘.

C. Special increment and rebate on interest

One special increment in the form of ‗Family Planning Allowance‘ not to be absorbed in

future increases of pay either in the same post or on promotion in higher post / grade. If

both are employed, the spouse with higher increment can avail of special increment.

Half percent rebate on interest on House Building Advance.

Conditions for grant of incentives-

i) The special incentives are allowed provided the acceptor is within the reproductive age

group. In the case of a male employee, this would mean that he should not be over 50

years of age and his wife should be between not be above 45 years of age and her

husband must not be over 50 years of age.

ii) In case of employees governed by

IDA pattern of scales – two or three living children;

CDA pattern of scales- not more than two surviving children.

36

iii) The employees or his / her spouse‘s sterilization operation (vasectomy / Tubectomy) is

conducted and certificate to this effect is issued by an authorized competent authority

of a Government hospital or Government aided hospital or Trust hospital operating on

a no profit no loss basis or Hospital / Nursing Home registered with local bodies / State

Governments.

INCENTIVE SCHEME FOR ACQUIRING ADDITIONAL QUALIFICATIONS

Incentive for acquiring additional professional / technical qualifications is given to all regular

employees of IRCON. One time lump sum monetary incentive given to employees who acquire

additional / higher qualifications are mentioned below-

S.No Qualification Cadre Amount of

incentive

1. M.Tech. / ME / M.Sc. (Engg.) Engineering /

Technical / I.T.

Rs. 12000/-

2. CA / ICWA / Final Examination of institute of Company

Secretaries of India / Charted Financial Analyst (ICFAI)

Finance

3. Ph.D / Fellowship equivalent to Ph.D (in any engineering and

management area), M.B.A (any specialization) / P.G.D.M from

reputed institution (recognized by A.I.C.T.T. as equivalent to

M.B.A)

All Cadres

4. B.E. / B.Tech / A.M.I.E Engineering /

Technical / I.T.

Rs. 1000/- (A.M.I.E

Sec-A Rs..4000/- &

Sec-B (Final)

Rs.6000/-)

5. Construction Project Management from NICMAR / Railway

Engg. From IPWE / Degree / PG Diploma in Materials

Management / Q.P.M.P (Pass in 1st attempt). / M.S. Project,

Prima Vera / MOSS, Design Software in Structural Engineering

Engineering /

Technical / I.T.

Rs. 8000/-

6. M.Com or Masters in related Finance / Commerce subjects. Finance

Rs. 8000/-

7. M.A in Personal Management & Industrial Relations or Masters

in HR / related subjects.

HRM

8. PG Diploma in HRM / Personal Management / Training &

Development / Labor Laws

HRM

9. Master in Computer Science or Application All Cadres Rs. 8000/-

37

10. LL.B / PG Dip. in Computer Management / System Management

/ Management Studies / Business Administration / Business Law

/ Computer Application

All Cadres Rs. 8000/-

11. BCA, BBA, Diploma in Materials Management, HRM,

Computer Management, Marketing and Business Development,

Library & information Science, Accountancy, Finance

Engineering /

Technical, HRM,

Stores, Library,

Finance / I.T.

Rs. 6000/-

12. Graduation in Science, Arts & Commerce Ministerial Cadres Rs. 4000/-

13 Trade Certificate from ITI / NCTVT or eq. in trades which are

considered useful to Company working.

Engineering &

Technical

Rs. 2000/- 14. S.S.C All Cadres

NOTE: The duration of the Diploma / PG Diploma should not be less than one year for the full

time course and two years for a part time course.

The following conditions shall apply for the grant of an incentive:

a) Only such of the employees who acquire higher / additional qualification after induction

into service shall be eligible to receive incentive.

b) The qualifications mentioned above should be obtained from:-

# A recognized university / institution; or

# A reputed body / institution – affiliated to a recognized university or approved by UGC

/ AICTE or any other accredited body notified by Central / State Government.

c) The monetary incentive will be paid only on successful completion of the entire course.

d) No incentive would be allowed for purely academic or literary subjects.

e) The pursuit of the prescribed course, by the employee shall not in any way interfere with

his / her official duties.

f) No additional allowance or facilities like time off, transport etc. will be provided by the

Company for pursuance of the course.

g) The employee will bear all expenses for acquiring the additional / higher qualification.

h) The employee will avail leave as may be due for pursuing the course. This, however, in no

way binds the Company to grant leave to the employee.

38

i) The management‘s permission to pursue a course for acquiring additional / higher

qualification will not be a bar in transferring an employee.

j) The employee who avails of the incentives should remain in IRCON‘s service for a period

of at least one year after acquiring the additional qualification otherwise the monetary value of the

incentive shall be recovered.

INCENTIVES FOR LEARNING AND WORKING IN HINDI

Training in Hindi, Hindi typing and Hindi stenography is compulsory for the employees of IRCON.

Incentives for learning and working in Hindi would be admissible to all IRCON employees except

those appointed as Hindi officers, translators, Hindi stenographers, Hindi typists and those

employees who are in receipt of other incentives for promotion of Hindi.

Eligibility;

The eligibility criteria for various types of training in Hindi is as under-

i) Prabodh- Those employees whose mother tongue is Telgu, Tamil, Kannada, Malayalam,

Mizo, Manipuri and English and who do not possess knowledge of Hindi even of the primary

level are eligible.

ii) Praveen- Those employees who have passed Prabodh examination and whose mother-tongue

is Oriya, Bangla, Assamiya, Sindhi, Nepali, Marathi, Gujrati and who do not possess

knowledge of Hindi even of the middle level are eligible. The employees who have learned

Hindi as a second or third language or jointly wiyh some other language upto the level of

Matric from non-Hindi speaking states and have secured minimum 33% marks shall be deemed

to possess knowledge of Hindi of the level of Prabodh.

iii) Pragya- Those employees who have passed Praveen examination and non-Hindi speaking

employees whose mother-tongue is Punjabi, Urdu, Kashmir and Pushto and who do not possess

knowledge of Hindi upto the level of Matric are eligible. The employees who have learned

Hindi as a second or third language or jointly with some other language upto the level of Matric

from the non-Handi speaking states and even though they have secured 33% marks or above,

shall not be deemed to possess the working knowledge of Hindi. It is obligatory for such

employees to get training in Hindi upto the level of Pragya.

39

iv) Hindi Typing- Those Assistants / Typists who possess knowledge of Hindi upto the level

of Praveen and know typing in English are eligible. Employees upto the grade of Assistant

Office Superintendent in ministerial / accounts cadre and Hindi translators, for whom training

in Hindi typing is useful, may also get training.

v) Hindi Stenography- Those employees who possess knowledge of Hindi upto the level

of Pragya or Matric are eligible. P.As in any capacity (including deputationists) and doing the

work of stenography are also eligible.

Incentives-Personal Pay, Cash Award and other facilities-

Incentives given to employees subject to their being eligible for the same are as follows-

A. Personal Pay-

Employees who have been exempted from receiving in-service training will not get

personal pay on passing the concerned examination. However, personal pay will be in

addition to cash awards and lump sum award for which the officer / employees is entitled.

The rate of increment for personal pay would be equal to the amount of the next increment

die in the existing post. Personal pay would not qualify for any allowances. The details of

personal pay to be granted on passing respective examinations are as under:

i) Prabodh- Personal Pay equal to the amount of one increment for a period of 12 months to

employees below the level of Assistant Manager who pass this examination with 55% or

more marks for whom this course has been prescribed as a final course of study. Officers of

the level of AM and above will not be eligible for personal pay.

ii) Praveen- Personal Pay equal to the amount of one increment for a period of 12 months to

employees-

Below the level of Assistant Manager who pass this examination with 55% or more

marks, and

AM and above who pass this examination with 60% or more marks.

iii) Pragya- Personal pay equal to the amount of one increment for a period of 12 months for

whom this course has been prescribed as a final course of study.

iv) Hindi Typing- Personal Pay equal to the amount of one increment for a period of 12

months to the employees below the level of Assistant Manager.

40

v) Hindi stenography- Personal Pay-

* For employees whose mother tongue is Hindi-

# Personal Pay equivalent to one increment for a period of 12 months to the

employees below the level of Assistant Manager.

# Personal Pay equivalent to one increment for a period of 12 months to the

employees of the level of Assistant Managers and above provided they

score 90% or more marks.

* For employees whose mother tongue is not Hindi-

# Personal Pay equivalent to two increments to the employees below the

level of Assistant Manager.

# Personal Pay equivalent to the amount of two increments to the employees

of the level of Assistant Manger and above provided they score 90% or

more marks.

Note: These increments would be absorbed in future increments earned i.e. in

first year the employee would be getting the among of personal year the

amount of personal pay equivalent to one increment.

41

B. Cash Incentives for passing various examinations-

i) Hindi examinations-

Name of the examination

Prabodh Praveen Pragya

* On securing 70% or more marks Rs. 400/- Rs. 600/- Rs. 600/-

* On securing 60% or more marks Rs. 200/- Rs. 400/- Rs. 400/-

but less than 70% marks

* On securing 55% or more marks Rs. 100/- Rs. 200/- Rs. 200/-

but less than 60% marks

ii) Hindi Typing-

* On securing 97% marks or more Rs. 600/-

* On securing 95% marks or more but below 97% marks Rs. 400/-

* On securing 90% marks or more but below 95% marks Rs. 200/-

iii) Hindi Stenography

* On securing 95% marks or more Rs. 600/-

* On securing 92% marks or more but below 95% marks Rs. 400/-

* On securing 88% marks or more but below 92% marks Rs. 200/-

C. Other facilities

i) No fee is charged from the employees for training and examination;

ii) Text books of Hindi language are given free of cast;

iii) Classes are conducted during office hours;

iv) Travel expenses for attending the classes are reimbursed;

v) TA / Actual expenses are given as per rules for appearing in the examination;

vi) Separate classes are also conducted for Teaching Hindi to the officers of the level

of AM and above;

42

vii) Permission is given to appear in the examination as a private candidate;

viii) Training in Hindi Language and Hindi Typing is also given through

correspondence by the Central Hindi Training Institute for teaching Hindi;

ix) Entry is made in the Service Book on passing the prescribed examination;

x) No income tax is levied on cash awards and lump sum awards;

xi) The certificate issued by the Hindi Teaching Scheme for passing Hindi typewriting

examination has been recognized as equivalent to the certificate issued by the Staff

Selection Commission for the purpose of regularization of employees, grant of

increments, etc.

Lump sum award on passing the examination of Hindi Teaching Scheme through personal

efforts.

i) Prabodh Examination of Hindi Teaching Scheme Rs. 500/-

ii) Praveen Examination of Hindi Teaching Scheme Rs. 500/-

iii) Pragya Examination of Hindi Teaching Scheme Rs. 600/-

iv) Hindi Typing Examination of Hindi Teaching Scheme Rs. 400/-

v) Hindi Stenography Examination of Hindi Teaching Scheme Rs. 750/-

vi) Diploma in Hindi Examination of Central Hindi Directorate Rs. 600/-

vii) Such Hindi Examinations conducted by the voluntary Rs. 600/-

43

Organizations which have been recognized by the Ministry of Human Resource

Development (Education Department). Govt. of India as equivalent to Matric or

Higher standard.

The employees who have been exempted from receiving in-service Hindi training will not be

eligible for cash and lump-sum awards on passing Hindi examination equal to that standard.

Orders issued regarding financial incentives, such as personal pay, cash awards and lump-sum

award payable to the employees on passing Hindi Typing and Hindi Stenography Examinations

conducted by Hindi Teaching Scheme shall also be applicable to those employees who pass the

Hindi Typing and Stenography Examinations conducted by Hindi Teaching Scheme by making use

of Electric Typewriters, Computers and Word Processors.

Prizes during ‘RAJBHASHA PAKHWARA:

Every year ‗RAJBHASHA PAKHWARA’ is organized in the month of September. During this

period competitions viz. poetry recital, debate, Hindi typing, essay writing, noting and drafting,

dictation, etc. are granted cash awards as under:-

* First Prize Rs. 1000.00

* Second Prize Rs. 750.00

* Third Prize Rs. 500.00

* Consolation Prize (fourth position) Rs. 200.00

Incentives on giving dictation in Hindi

Officers who give the maximum number of dictations in a year would be eligible for an incentive

of Rs. 1000/- (lump sum).

44

Prizes during Annual Day:

Every year following awards are presented by the Managing Director on Annual Day of the

Company.

Eligibility Award Amount No. of Awards Conditions

Senior Officers Certificate and cash

award

Two Doing maximum work in Hindi and

contribution in promotion of Hindi

Sr. Officers whose mother

tongue is not Hindi

Rs. 1000/- One Use of Hindi in regular working of the

Company and also to encourage their

subordinates

All employees-

1st prize

2nd

prize

3rd

prize

Rs. 1000/-

Rs. 750/-

Rs. 500/-

Two }

Three }

Five }

On writing 20,000 or more words in Hindi

in a year

Eligibility Award Amount No. of Awards Conditions

All employees Rs. 1000/- Three Personal award

All employees Rs. 200/- p.m. for one

year

Upto ten Employees responsible to issue documents

under section 3 (3) of Official Languages

Act viz. resolutions, general orders, rules,

notifications, press releases, contract and

agreements, licenses, permits, notices,

forms of tender, administrative and other

reports to be laid before both the Houses

of Parliament, bilingually are selected for

this purpose.

45

HONORARIUM:

For delivering lectures-

a) The following rates of honorarium would be payable for delivering lectures as part of a

training program or otherwise. The rates prescribed are slab-wise and on hourly basis and

will be applicable for visiting faculty member / outsiders, as well as to IRCON employees.

* For lectures upto 1 hour - Rs. 750/-

* For lectures between 1 hour to 2 hours - Rs. 1250/-

* For lectures above 2 hours - Rs. 1500/-

* For full day lecture - Rs. 5000/-

b) Towards compensation for conveyance charges for traveling to the lecture site-

* As far as possible general pool vehicles are to be utilized.

* If the faculty member / IRCON employee arranges a vehicle of his own, he is to be

paid a lump-sum amount of Rs. 300/- extra, over and above the honorarium admissible.

FINAL SETTLEMENT BENEFITS:

On Resignation an employee is entitled to the following settlement benefits from the Company

except the Provident Fund linked Pension which is to be claimed by him from the Provident Fund

Commissioner through IRCON:

46

Item No. Particulars Quantum of Benefit

1. Leave Encashment of-

Entire encashable leave; and

50% of non-encashable leave subject to a maximum limit of 75 days.

2. Gratuity i) Gratuity is payable (lump sum) if the employee has rendered qualifying

service of not less than five years.

Note: Minimum qualifying service is not applicable in the case of

employees who have joined on deputation followed by absorption or

joined on permanent absorption.

ii) Gratuity will be equal to 15/26 of a month‘s emoluments for each

completed year of service or part thereof in excess of six months subject.

to a maximum limit of Rs. 10 lakhs, and

the terms of absorption (applicable in case of employees who have

joined on deputation followed by absorption or joined on permanent

absorption).

ii) Gratuity will be paid for good, efficient and faithful

service.

3. Group Savings

linked Ins.

Amount of deposit in the running account along with interest by LIC.

4. Provident Fund

(PF)

Employee has the option to either transfer his entire provident fund

accumulations to the PF Fund of the new employer if he intends to join any other organization; or

If he is not intending to join any other organization, he can withdraw

the entire PF accumulations after two months from the date of

resignation.

5. PF Linked

Pension

Full pension is payable on completion of 60 years of age;

Short pension is payable on completion on 50 years of age;

Provided the following conditions are fulfilled-

The employee has contributed towards Pension Fund for a minimum

period of 10 years including past service, and

is not in service.

Employees who do not fulfill the above conditions can either opt. for refund

of the accumulated amount in the Pension Fund plus interest thereon or

apply for the Scheme Certificate. The Scheme Certificate would indicate the

details of accumulations and the period for which employee‘s contributions

have been made towards pension fund. The employee would retain the

Scheme Certificate till he joins the new organization or attains the eligible

age of pension.

Employees can opt. for reduced pension also on completion of 50 years of

age provided he is not in service and has contributed for a minimum of 10

years.,

47

DATA ANALYSIS

D

A

T

A

A

N

A

L

Y

S

I

S

48

Data Analysis

I have collected the data up to 70-80 samples by using questionnaire and face to face

interview and survey method. The primary data collected from the employees of the

IRCON and also I got some related information from the human resource department of the

IRCON. The employees respond positively in my questions and in their view the IRCON is

providing a benefit which is satisfying their needs. While collecting the primary data the

employees talks freely and give all the answer by citing the examples from the IRCON

provide benefits.

Sampling Method:

Simple Random Sampling, A simple random sample (SRS) of size n consists of n

individuals from the population chosen in such a way that every set of n individuals has an

equal chance to be the sample actually selected.

Interview Process;

In the Interview process I went to the employee‘s and then talked to the employees

informally after I gave the printed questionnaire to the employee and explained him/her

each and every question after that he/she tick mark the questions and also there are two or

three open ended questions I asked him/her and whatever he/she said I note down in my

note book. The interview was very structured and the mode of communication was only

English.

49

The Questionnaire which I provided to Employees of IRCON was designed like following;

PART I

GENERAL INFORMATION

Occupation: _____________________________________________________________

How long have you worked for this company? _________________________________

What previous positions have you held with the company? ________________________

_________________________________________________________________________

_______________________________________________________________________

What is your job title? _____________________________________________________

How long have you held your current position? _________________________________

Briefly describe your work responsibilities (as you would on a resume):

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________________________________________________

50

Part II

Q1. What is your present range of salary per annum?

Less than 3 lakh

3 - 5lakh

More than 5 lakh

Q2. How often do you get salary increment?

On every 6 months

Within a year

Within a span of 3 years

Within 5years time span

Q3. How often do you get Incentive and bonus increment?

On every 6 months

Within a year

Within a span of 3 years

Within 5 years time span

Q4. What is the rate of salary increment?

2-3 percent of percent salary

3-5 percent of percent salary

More than 10 percent of the present salary

Depends on the work I am assigned to.

Q5. Do you get sufficient Incentives?

Yes, I get sufficient incentives

Sometimes, not always

No, not at all it‘s very less to count even

51

Q5. How challenging is your job?

Extremely challenging

Very challenging

Moderately challenging

Slightly challenging

Not at all challenging

Q6. In a typical week, how often do you feel stressed at work?

Extremely often

Very often

Moderately often

Slightly often

Not at all often

Q7. Are you satisfied with the Incentive Schemes Provided by IRCON?

Much Satisfied

Satisfied

Not satisfied

Dissatisfied

Q8. Do the Incentive Schemes fulfil your day to day needs?

Completely fulfil

Often fulfil

Moderately fulfil

Not fulfil

52

FINDINGS

53

FINDINGS

In IRCON most of the employees feel that the HR department is good. About 75%

of the employees said that Incentives and good welfare schemes can motivate an

employee to a great extent and can result in effectiveness and potential outcome.

IRCON a multinational organization provides different types of welfare schemes

to their employees and a verity of incentives to motivate them. As I have noticed

in my internship period IRCON not only recruit employees but also put their high

heels to retain them. IRCON (BANIHAL) is having a fully fledged HR department with

trained and qualified HR personals that keep a dogwatch on the HR issues especially

welfare schemes and Incentives. During my Internship employees never felt worried

about their salaries and incentives because of committed HR department. There is a

good superior subordinate relationship in the said department. The delegation of

authority and responsibility is well versioned and there is less scope of role conflict

and ambiguity. IRCON believes that employees are the real heads of any

Organization. It is because of this thinking IRCON is successful in its every project.

54

CONCLUSION

55

CONCLUSION

This presents the summary of the study and survey done in relation to the welfare

and incentive schemes in IRCON INTERNATIONAL LIMITED. The conclusion is

drawn from the study and survey of the company regarding the welfare and

incentive scheme process carried out there. The welfare and incentive management is

done objectively and therefore there is no chance of bias that will hamper the future

of the employees. Most of the employees were satisfied by the welfare and incentive

schemes provided by IRCON INTERNATIONAL LIMITED to them, but there is

always a scope of improvement in everything so IRCON should be ready with newer

incentive and welfare schemes so that the company will not face any problem in

future competitive market

56

SUGGESTION

57

SUGGESTION

Manpower requirement for each department in the company is identified well in

advance.

If the manpower requirement is high and the recruitment team of the HR

department alone cannot satisfy it, then help from the placement agencies is

needed.

Time management is very essential and it should not be ignored at any level of the

process.

Employers should embrace compensation and benefit strategy to integrate the various

components of employee benefits into a single overriding strategy.

The organizations need to keep its welfare and incentive management up to date so that

advancement in these should be covered off.

58

BIBLOGRAPHY

59

BIBLOGRAPHY

C.B Mamoria and S.V. Gankar (2004), Personal Management Text and Cases.

Himalaya Publication.

K.Aswahthappa (2001), Human Resource and Personnel Management.

Human Resource Management, (2005), Dr. P.C. Pardeshi C.B Gupta (2005)

Research Methodology, Methods and Techniques By C.R. Kothari

www.IRCON.org

www.google.com

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