Professional Documents
Culture Documents
ON
WELFARE FACILITY PROVIDED TO EMPLOYEES BY BANK OF
INDIA
INDEX
SR. NO
CHAPTER
Executives summary
1
Introduction
Bank of profile
Research Methodology
Bibliography
Questionnaire.
EXECUTIVE SUMMERY
PAGE NO
Welfare means faring or doing well. It is a comprehensive term, and refers to the physical,
mental, moral and emotional well-being of an individual. Further, the term welfare is a relative
concept, relative in time and space. It therefore, varies from time to time, region to region and
from country to country
Bank of India is one of the premier banks in the country providing welfare facility in addition to a
good salary. Bank is spending lot of money on the employee welfare. The expenses spent by the
organization are less in return to the benefits which it receives from the employees hard work.
Welfare facility provided by organization is unique for all the employees. The only difference is
that the top level officers receive some additional facility along with routine one.
With the help of the project on attempt is made to study the welfare measure provided to
employees. What is the procedure, time required for sanctioning welfare facility and such other
basis policies of the organization.
The study is based on the information collected from respondent through questionnaire. The data
analyzed is presented in the form of graphs and on the basis of that conclusion are made. In the
last, the required suggestions are given.
After analyzing the data it is found that the employees are satisfied with the welfare facilities
provided to them by the bank.
CHAPTER 1: INTRODUCTION
Welfare is based concept employees welfare is a comprehensive term including various services,
benefits and facilities offered by the employees thought such a generous fringe benefits the
employers makes life worth living for employees the welfare amenities extend in addition to
normal wages & other economic rewards available to employees as per the legal provision.
The various welfare measures provided by the employees will have immediate impart on the
health, physical & mental efficiency, alertness, moral & overall efficiency of the workers & there
b contribution to the highest productivity.
Welfare measures may also be provided by the government trade unions, and non-government
agencies in addition to the employer. The basics purpose of welfare facility is to enrich the life of
employees and keep them happy and contended.
1) SCOPE
The labor investigation committee- anything done for intellectual physical, moral and economic
betterment of the workers, weather, by employers or government or other agencies over and
above what is normally expected on the part of the contracted benefits for which workers may
have bargained.
The committee on labour welfare- today, welfare is generally accepted by employers. The state
steps into widen the area of the applicability only. Welfare is being looked at as social right of
workers. The committee described it as a social security measures that contribute to improve the
condition under which workers are employed in India. (1969 report) labour welfare includes both
statutory as well as non statutory activities undertaken by the employers, trade union & both the
central & state government for the physical & mental development of workers.
2) IMPORTANCE
The benefits are of great importance to the worker which he is unable to secure by himself. The
scheme of labour welfare may be regarded as a wise investment because these would be the
profitable returns in the form of great efficiency.
The working environment in a factory adversely affects excessive heat or cold, noise, fumes, dust
or lack of sanitation and pure air. Such oppressive conditions create health problems for workers.
These have to be contained through preventive steps aimed at improving the lot of workers.
Another reason in fovar of welfare work is called as social invasion of the factory. Workers fare
lot of adjustment problem where they take up factory work. The longest environment, noisy
machines, Slum area. To escape from such trying condition, the worker signs of indiscipline.
Such changes known as the social invasion of the factory, call for extra inducements in the
workplace. In addition to normal wages, so that the workers begin to enjoy a fuller and richer life.
3) OBJECTIVES OF THE WELFARE PROGRAMMES
The important objectives of the welfare are.
1) To boost up employees moral
2) To motivate the employees by identifying and satisfying these unsatisfied needs.
3) To provide qualitative work environment and work life
4) To provide security to the employees against social risks like old age benefits and
maternity benefits
5) To protect the health of the employees and to provide safety to the employees against
accidents
6) To create a sense of belongingness among employees & to retain them. Hence, fringe
benefits are called golden.
Extramural
Housing
Educational Facility
Maternity benefit
Transportation
Sport facility
Leave travel
Recreation facility
Canteen
Subsidies food
Medical aid
Vocational training
Holiday homes
Co-operative stores
Fairprices shops
Social insurance
The committee and worker labour welfare, 1969 recommended the provision of transport facility
to workers so that they can reach the workplace punctually and comfortable.
4)RECREATION
Through there is no statutory stipulation in this area progressive employers both in the public and
private sector consciously offered facility for recreation sports and cultural activities for examplecompanies like NIIT and TISCO have appointed a chief fun officer to take care of parties and
functions held on every Friday. In addition to holiday packages, dating allowances, anniversary,
birthday gift, games and competition and weekend & eating session.
5)OTHER FACILITY
These are basically intended to improve the comfort level of workers while at work & include the
following
Canteen, restroom and lunchroom
Washing facility, medical aid, leaves travel
Consumer cooperative stores.
unbroken record of profits since its inception, BOI continuous its winning performance in a year
of Accolades & Awards.
ACCOLADES & AWARDS
NDTV profit business leadership awards 2008- Best PSU bank
BT-KPMG best bank study- Indias best bank
D & B-Rolta corporate Award 2008-Top Indian companies
CIO green IT awards
The Most Trusted Brands (MTB) 2009 as follows
NDTV profit business leadership Awards -2009- best PSU bank
Outlook money NDTV profit award-2009- best education loan provider-runner up
Over the years, the bank has been improving the market position to emerge as a major financial
conglomerate with as many as nine subsidiaries/ sponsored institutions/ joint venture in India
and abroad. The bank has a pan India presence, with over 2672 branches across all geographical
segment & 337 banks ATMs & also including cover 12500 networked ATMs in India & bank
has also providing internet & mobile banking services and most of the branches offering
Anywhere Banking services.
BOI has made a distinctive marks in various corporate social responsibility, namely, serving,
national priorities, promoting rural development, enhancing rural self employment through
several training institutes, spearheading financial inclusion objectives etc. in fact deeply rooted in
the banks founding principles A good bank is not only the financial heart of the community, but
also one with an obligation of helping in every possible manner to improve the economic
condition of the common people. These insightful words of the founder continue to resonate
even today in serving the society with a purpose
The bank strongly belives that the next century is going to be equally rewarding and evenful not
only in service of the nation but also in helping the bank emerge as a global bank with best
practices. This justifiable belief is founded on strong fundamental, customer centricity,
enlightened leadership and a family like work culture.
VISION
BANKING SCHEME
1) STAR DHANVANTARI SUVIDHA SCHEME
Loan for the medical professional to set up now clinic, expansion of existing clinic, purchase of
equipment, etc. up to Rs.50 lakhs, payable in EMIs within 7 years
2) PRIYADARSHANI YOJNA
Scheme for all types of women entrepreneur engaged in economic activities such as micro and
small entrepreneur, artisans, professional & self employed, including for the purpose agriculture
and higher education. We offer concessional rate of interest up to 11, on the application rate,
besides other relaxed term/ condition.
3) SCHEME FOR TAX RETURN PREPARER
A new scheme introduced with a view to providing employment to educated youth who are
trained as tax return prepares. One can avail loan up to Rs.75,000/- with relaxed term/ condition
4) STAR LAGHU UDYOG SUVIDHA
Borrowers whose unit enjoys limits in excess of Rs.10 lacs and having net profit at least during
the last 8 years and annual turnover in excess of Rs.50 lacs, are eligible for an additional advance
facility of 50% of the regular limits enjoyed, subject to maximum Rs.50 lacs, to meet temporary
liquidity constraints.
5) NORMAL GRAM YOJNA
As a part of our corporate social responsibility, our bank has launched rural sanitation scheme to
provide civic and personal lygines facility by providing assistance for construction of low cost
toilet in rural areas. Our banks has so far sanctioned 24364 rural household for construction of
toilets and ensured 100% sanction in 312 villages in the state of Maharashtra. The outstanding
under the scheme is Rs. 15.02 crore.
B) DEPOSITED SCHEME
1) STAR SURAKSHA SAVING BANKS DEPOSIT SCHEME:An unique account for individual (excluding NRI) with host of benefit including accidental death
benefit and one DD free of cost every month which helps to remit money to our door once every
month. The minimum balance is kept at Rs.500/2) STAR BENEFIT CURRENT DEPOSIT SCHEME
A unique product for every one especially for trader & manufactures with 2 tree DDs in a month.
This helps in purchasing goods/ row material and facility of depositing cheque at any branch of
BOI having BOI Br. For its clearing at question through banks star speed cheque collection
scheme free at cost which save time as well as cost. The minimum AQB is kept at Rs.5000/-
D) OTHER SERVICES
1) STAR POWER SALARY ACCOUNTS SCHEME
For the employees of institutions with 25 or more employees in the net salary brackets of Rs.10,
000 per month or more
2) INTERNATIONAL DEBIT CUM ATM CARD
For the saving current and overdraft account holder who are authorized to operate open there
account singly
3) PENSIONS CREDIT CARD
For all principle pensioners during pension through Bank of India branches who are below the
age of 70 years. Pensioners include state, central, military/ defense, banks, railway pensioners,
family pensioners are not eligible.
4) PENSION DELIVERY AT DOORSTEP
Bank of India introduced a friendly initiative for the convenience of pensioner. Pension delivery
to the pensioner to be made at their place of residence through post offices.
5) ONLINE BANKING SERVICES
A) STAR CONNECT INTERNET BANKING
a customer friendly facility available free of cost to all the retail and corporate customer of cover
1200 care banking solution and multi branch banking enabled branches. The service provide to
across your account in one or more branches under a single login.
B) ONLINE BOOKING OF INDIAN AIRLINES TICKETS
Travel ticket booking made easy. Customers can select there flight, provide necessary details and
pay through internet banking.
BOI established holiday homes at a number of hill station, health resort & other countries
with low charges of accommodation, so as to encourage employees to use this facility for rest
in a salubrious environment.
1) OFFICIATING ALLOWANCE
6% of BP pm. Provided the period of officiating is not less than 7 days in a calendar month or
a continuous period of 7 days. This allowance will rank for PF only.
2) DEPUTATION ALLOWANCE
if an officer is deputed to serve as a member of the facility in any teaching establishment of
the bank he shall be eligible to a deputation allowance at 4% of his BP subject to a maximum
of Rs.750/- pm. however, if deputed to an outside organization and does not opt for the scale
of that organization then the deputation allowance will be 7.75% of the basis pay subject to a
maximum of Rs 1500pm
3) MEDICAL AID
The reimbursement of bed charges, zonal manager has to authorized, for sanctioning charges
for officers for treatment of self, up to Rs.1000/- for officer in scale IV & above and up to
Rs.750/- for officer up to scale III and for charges incurred over the aforementioned amount
zonal authority may recommended to H.O. for reimbursement 100% reimbursement for
office who dies in harness.
Bed charge on hospitalization involving admission in ICU/ICCU, scale IV and above
Rs.2000/- per day and up to scale III Rs.1500/- Per day.
I) Load Trainees:- Rs.75/- per day for Mumbai & Delhi (Noida) Rs.60/- per day for the other
centers
5) REIMBURSEMENT
OF
TRAVELING
EXPENSES
ON
MONTH
CONSOLIDATED BASIS.
Eligible officer who own and use a vehicle for banks works have option to claim
reimbursement of traveling expenses either or monetary basis or in term of consumption of
petrol per month. Optioned can be exercised only once and will not be allowed to be change
in type of vehicle and/ or place of posting. Promotee officers during the probationary period
and DRUs during the first year of probation are not eligible. However, they may be
reimbursed actual expenses incurred by them.
HR research is the process of evaluating the effectiveness of human resources, policies and
practices and developing more appropriate once. It include
1) Conducting morale, attitude, job satisfaction and behavior surveys
2) Collecting data and information regarding wages, cost-benefits analysis of training,
benefits, productivity, absentism, employee turnover, strikes, accidents, operations,
working hours, shifts etc.
3) Tabulating computing and analyzing the data and information.
4) Report writing and submission to the line managers
5) Finding out the defects and shortcoming in the existing policies, practice etc.
6) Developing more approximate policies, procedure, and programmer of personal.
OBJECTIVE OF THE STUDY
Main objective
The main objective of carrying out line topic is to study welfare facilities provided by Bank
of India to the employee.
OTHER OBJECTIVES
a) To analyze the procedure regarding how the welfare facilities are provided to the
employees by the bank.
b) To know the satisfaction level of employees about welfare facilities & view towards the
bank policies of providing welfare facility
HYPOTHESIS
The employees are satisfied with the welfare facilities provide to them by the bank
a) Welfare facilities provide by the Bank of India are best
b) Welfare facilities in this organization are quite wide ranging.
RESEARCH DESIGN
A research design is the arrangement of condition for collection and analysis of data in a manner
that aims to combine relevance to the research purpose with economy in procedure.
Infact, the design of research study is descriptive as it is intended to describe to factor study is
descriptive as it is intended to describe to factors that management is likely to be interested in
such as employees feeling as opinion towards organization, and also about organizational
employees welfare and organizational establishment
RESEARCH INSTRUMENT
Questionnaires are used as a research instrument in the study. Primary data is collected through
personal interview method.
Method of sampling
Probability sampling method is used for the study, as it is also known as random sampling
under this sampling design, every item of the universe has an equal channel of inclusion in the
sample.
Random sampling from a finite population refers to that method of sample selection which gives
each possible sample combination an equal probability of being picked up and each item in the
entire population to have an equal chance of being included in the sample. Thos applies to
sampling without replacement i.e. once an item is selected for the sample it looks can not appear
in the sample again.
DATA COLLECTION
PRIMARY DATA
Personal interview method is used for collected information from the employees through
questionnaire
SECONDARY DATA
Secondary data is collected from referring books and websites of Bank of India
THE SAMPLE
Questionnaire were prepared by keeping in mind the facility that are extended to employees the
research instrument used has helped personally knowing the feeling of employees.
For completing the project study more emphasis is given an primary source of data and its
analysis for maintaining the accuracy, reliability and for good result regarding the project study
undertaken.
The concept of processing and analysis, can now proceed with the explanation of all the
processing operations1) EDITINGEditing involves a careful scouting of the completed questionnaire add/ or schedules. Editing
is done to assure that the data are accurate, consistent with other facts gathered, uniformally
entered, as completed as possible and have been well arranged to facilitate coding &
tabulation
2) CODING
Coding is necessary for efficient analysis and through it the several replies may be reduced to
a small number of classes which contain the critical information required for analysis. Coding
decision should usually be taken at the designing stage of the questionnaire.
3) CLASSIFICATION
The necessities classification of data which happen to be the process of arranging data in
group or classes on the basis of common characteristic of data having a common
characteristic are placed I one class and in this way the entire data get divided into a number
of group or classes.
4) TABULATION
Tabulation is the process of summarizing row data & displaying the same in compact form
(i.e. in the form of statistical tables) for further analysis. In a broader sense, tabulation is an
orderly arrangement of data in columns & rows.
DATA INTERPRETATION
Ques 1: How many Welfare facility are you availing on routing basis?
0%
40%
50%
1 to 5
5 to 10
10 & above
10%
Observation
All the employees of Bank of India availing routine Welfare Facility 50% employees say
that they are availed 10 & above Welfare Facility and reset of 40% & 10% employees saying
that they are availing 1 to 5 and 5 to 10 Welfare facility respectively.
20%
1 to 5
Not
Availed
80%
Observation
80% employees says that they are availing 1 to 5 special welfare facility rested 20%
employees are not availing any special welfare facility.
Ques3: How much time it will take sanctioning a routine welfare facility?
1 to 2 week
2 to 3 week
1-2 month
Observation
From the chart it is observed that, all employees says that for sanctioning a routine welfare
facility time require is 1 to 2 week.
Ques 4: How much time it will take sanctioning a special welfare facility?
10%
1 to 2
week
3 week
90%
Observation
From the above chart it is observed that 90% employees say that for sanctioning a special
welfare facility time required is 1-2 week. & 10% employees says that time required for
sanctioning welfare facility is 3 week
Ques 5: Briefly explain the procedure of availing routine welfare facility in point?
20
Making an
application
submit proof &
immidiate
sanction it
Only
application is
required
80
Observation
80% employees says that to make the application submit proof & it sanction & rest of 20%
employees say that only application is required
Ques 6: Briefly explain procedure for availing the special welfare facility ?
10%
Make an
application
submit proof &
sanction it
Length process
90%
Observation
90% employees says that they have to just apply, submit proof & take approval of higher
authority and only 10% employees says that the procedure is lengthy .
Ques7: How much are you satisfied about procedure of availing routine welfare facility?
10
Highly satisfied
50
40
Partly satisfied
satisfied
Not satisfied
Observation
The 50% employees of the bank are highly satisfied with the procedure of availing routine
welfare facility while 40% employees are partly satisfied & the remaining 10% of employees
are satisfied.
Ques8: How much are you satisfied about procedure of availing specific welfare facility?
40%
60%
Highly satisfied
Satisfied
Partly Satisfied
N ot Satisfied
Observation
The 60% employees of the bank are satisfied with the procedure of availing special welfare
facility and remaining 40% employees are highly satisfied.
Ques9: Does welfare facility provided by the organization plays as a motivational factors?
40%
Highly agree
Agree
Just agree
60%
Do not agree
Observation
60% employees are agreed that the welfare benefits plays as a motivational role. While 40%
are highly agree on this issue.
0%
20%
Adding same more
welfare facility
No suggession
80%
Observation
20% employees say that to add some more welfare facility & 80% employees is not
giving any suggestions.
All the routine welfare facilities are availed by all the employees in Bank of India in
different proportion.
More than 70% employees are availing routine welfare facility an routine basis.
More than 30% employees are availing special welfare facility according to the need
arise
The time required for sanctioning the special welfare facility is maximum 2 week.
The employee are not getting in storage facility for outdoor clothing
The routine welfare facilities are availed by every one in the organization & time
required is also nominal.
The process of availing special welfare facility is very lengthy & hence it can be
availed by simple process.
The employees of Bank of India are highly satisfied with the routine welfare facility,
which they are availing on regular basis.
The employees of Bank of India are satisfied as they are getting special welfare
facility with a simple process.
Suggestion
1) The employees should be provided with storage facility for external clothing
2) Sanctioning times of special welfare facility should be reduced to 1 week
Limitation
1) The study may not cover each & every facility provided by the organization.
2) The result may be depended on the answer received from respondent.
3) The study does not cover entire workforce
4) The study is based on a particular class of employees i.e. officers, clerk, & sub staff.
CHAPTER 7: BIBLOGRAPHY
BOOK REFFERRED
Sr.no
Authors
year
Tital
Cityof
publishing
Publisher
Pages
V.S.P. Rao
2005
Human
Resource
management
New
elhi
D Excel books
K.Ashwatha
Ppa
-
1997
TataMc
GrawHill
Publishing
C.R.Kothari
1985
Research
Methodology
New Delhi
NewAge
1,8
International
Publishers
P.P.ARYA
2002
R.M.
New Delhi
Deep&Deep
Publication
Pvt.Ltd
WEBSITES
NAME
www.goole.com
www.bankofindia.com
www.bankofindia.co.in
CHAPTER 8: QUESTIONNAIRE
PLEASE TICK THE ANSWER OF FOLLOWING QUESTION
1) How many welfare facility are you availing a routine basis?
A) 1 to 5
B) 5 to 10
C) 10 & above
405 ,452
446, 447
14
B) Not Availed
B) 2 to 3 week
C) 1 to 2 month
B) 3 week
C) 1 to 2 week
8) How much are you satisfied about procedure of availing special welfare facility?
A) Highly satisfied
B) Satisfied
C) Not satisfied
9) Does welfare facility by the organization plays as a motivational factors?
A) Highly agree
B) Agree
C) Just agree
10) Kindly suggest the method of improving/ adding welfare facility?
A) No suggestion
B) Adding some more welfare facility.