Post on 07-Apr-2018
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COMPENSATIONMANAGEMENT
PRESENTED BY:
GROUP [C]
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SR NO. NAME ROLL NO.
1. SONIA BANGERA 03
2. FARIYA KHAN 12
3. NUPUR SARAF 21
4. SOHIL CHOHAN 30
GROUP MEMBERS
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COMPENSATION MGT
Compensation is the remunerationreceived by an employee in return forhis/her contribution to the organization. It
is an organized practice that involvesbalancing the work-employee relation byproviding monetary and non-monetarybenefits to employees. Compensation is
an integral part of human resourcemanagement which helps in motivatingthe employees and improvingorganizational effectiveness.
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EVOLUTION OF COMPENSATIONMANAGEMENT SYSTEM
Traditional Compensation Systems
Todays Modern CompensationSystems
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OBJECTIVES OF COMPENSATIONMANAGEMENT
Acquire qualified personnel
Retain current employees
Ensure equity Reward desired behavior
Control costs
Comply with legal regulations
Facilitate understanding
Facilitate understanding
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IMPORTANCE OF COMPENSATION
MANAGEMENT
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Need of Compensation Management
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COMPONENT OFCOMPENSATION MANAGEMENT
JOB ANALYSIS
PAY STRUCTURES
SALARY SURVEY
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1. JOB ANALYSIS
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2. PAY STRUCTURES
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TYPES OF COMPENSATION
Direct Compensation
Indirect Compensation
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DIRECTCOMPENSATION
Direct compensation refers to monetary benefitsoffered and provided to employees in return ofthe services they provide to the organization. Themonetary benefits include basic salary, houserent allowance, conveyance, leave travelallowance, medical reimbursements, special
allowances, bonus, Pf/Gratuity, etc. They aregiven at a regular interval at a definite time.
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INDIRECT
COMPENSATION
Indirect compensation refers to non-monetary benefits offered and provided
to employees in lieu of the servicesprovided by them to the organization.
They include Leave Policy, OvertimePolicy, Car policy, Hospitalization,Insurance, Leave travel Assistance Limits,Retirement Benefits, Holiday Homes.
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Payroll is defined as a method of administrating employees
salaries in the organizations. The process consists ofcalculation of salaries and tax deductions of the employees,
administrating the retirement benefits and disbursements ofsalaries to employees. It can also be called as an accounts
activity which undertakes the salary administration ofemployees in the organization.
PAYROLL MANAGEMENT
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COMPONENT OF PAYROLL
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COMPONENT OF MONTHLYPAYROLL
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COMPONENT OF ANNUAL PAYROLL
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VARIOUS PAYROLLPROCESSES
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COMPENSATION MANAGEMENT IN
CORPORATES &COMPONENTS OF COMPENSATION
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COMPENSATION OVAL
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COMPONENT OFCOMPENSATION
Basic wages/Salaries
Dearness allowance
Bonus Commissions
Mixed plans
Piece rate wages
Sign on Bonuses
Profit sharing payments
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INFORMATION TECHSECTOR( STUDY OF THIS SECTORS
COMPENSATION STRUCTURE)
Indian IT industry is witnessing a highgrowth rate. The sector is recruiting moreand more technical and professionalpeople. The growth rate of recruitment inthe sector has been observed as 14.5%.With the immense recruitments and highattrition rate, organizations focus onhigher competitive packages. The average
increase in the salary during 2006 wasreported as 16%.
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THE AVERAGE SALARY OFFEREDAS PER THE EXPERIENCE OF
EMPLOYEE ARE:
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ENTRY LEVEL COMPENSATION
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MANAGEMENT LEVELCOMPENSATION PACKAGES
THE SALARY STRUCTURE OF TCS &
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THE SALARY STRUCTURE OF TCS &INFOSYS
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COMPENSATION STRUCTURE OF
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COMPENSATION STRUCTURE OFICICI BANK
EARNINGS XX
BASIC ALLOWANCE XXCONVEYANCE ALLOWANCE XX
LEAVE TRAVEL ALLOWANCE XX
HOUSE RENT ALLOWANCE XX
ADDITIONAL HRA XX
MEDICAL ALLOWANCE XX
LEAVE ENCASHMENT XX
TRANSPORT ALLOWANCE XX
SUPERANNUATION ALLOWANCE XX
TOTAL EARNINGS XXTOTAL DEDUCTIONS XX
PROVIDENT FUND XX
INCOME TAX XX
TOTAL EARNINGS-TOTAL DEDUCTIONS NET
SALARY
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BIBLIOGRAPHYPRIMARY SOURCE:
1)ICICI BANK2)EVION3)CITIBANKWEBSITES:1)www.payroll.naukrihub.com2)www.wikipedia.com
3)www.indiamba.com4)www.hrsurvey.com
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Thankyou