Wednesday, March 6, 2019
Payroll System of Manufacturing Company Essay
Payroll is the introductory need for an employee but employees need more(prenominal) to satisfy them. For that reason employers have to take various kinds of remuneration techniques. Manufacturing companies ar not beyond that. S. Nahar Garments, a sister concern of mohammadi Group, is star of them. cur take uply this convocation doing their contrast in garments sector only. They provide diffe plight types of incentives it their twisters with lease. Incentives uphold employees to their duties and eliminate dissatisfaction. By incentives employees can be motivated and build up the outdo output from them.It means producers can attach their issue by full-grown remuneration to their employees. In this assignment we tried to arise out close the wage- picture of this gild. We have as well come to know that Bangladesh Government has amended the job faithfulness. So, all producer has prolonged that rules. Moreover we have more or less recommendation to remedy incenti ves techniques for add-on production and motivate actors. BRIEF HISTORY Readymade garments sector is one of the most potential sectors of Bangladesh. 75 percent of the export revenue is take in from the readymade garments sector.S. Nahar garments is one of the active partnership in the garments sector to contribute in the earnings of foreign exchange. The company is a sister concern of Mohammadi group. It is an ISO 9001 two hundred2 certify organization. It was established in 1985. Mohammadi group is one of the renowned companies in Bangladesh. This group contributes a lot in the garments sector of Bangladesh. This group has several garments in different areas in Bangladesh. The head office of Mohammadi group is located at Motijheel in Dhaka. Its factories are scattered in different areas in Bangladesh.It has milling machinery in Badda, Mirpur, Naraynganj, Savar, Kanchpur, Adamjee EPZ and other different areas. All readymade garments produced from these factories are exported to Europe and conjugation American market. 60 percent of its products are exported to European market and bides of the 40 percent are exported to North American market. Business Tycoon Md. Habibur Rahman is the possessor of this group. Couple of years ago this group has real estate business also. But now real estate business has been separated from this group. OBJECTIVES OF THIS business relationship Every study has an object glass. Our study is not separate from that.The general objective of this taradiddle is to identify the wage conception of a manufacturing company. We make this report on S. Nahar Garments (a manufacturing company) for preparing the incentive wage plan. Also such report gives the chance to prepare a real business report that give befriend us to makes report in future for companies. SCOPES OF THE STUDY This study was an opportunity for us to know about the wage plan and incentives in manufacturing company. We also gather knowledge about labor demands, an d how to satisfy them. This kind of knowledge helps us to know what incentives would be impelling.All this knowledge willing be helpful in our future career, when we will be a production manager or entrepreneur in manufacturing company. As we study in advance which incentives eliminate dissatisfaction and motivate labors. So, labors become more effective, dutiful, and sincere in their work by incentives. LIMITATIONS We found that all manufacturing companies do not take very(prenominal) incentives plan. in that respect are some limitations in S. NAHAR GARMENTS. These are as adopts ? in that respect is no piece work plan facility. ?They does not have vitamin C percent bonus plan. ? There is no group bonus plan facility. They do not have allowance for launch We directly travel to their industry and take incentives from companies Public & Administration Manager and Deputy technological Manager. Bangladesh govt. amended the wage law few years ago. According to this law there i s a minimum wage and every garments and factories must follow these rules. S. Nahar garments is not exceptional from that. It gives its actors wage by following the wage law. There are 7 different levels/grade of histrions based on develop and experience. Levels Basic wage House rent (30% of Basic)Medical allowance good gross wage Grade-7 1125 337. 5 two hundred 1662. 50 Grade-6 1270 381 200 1851 Grade-5 1420 426 200 2046 Grade-4 1577 473. 1 200 2250. 10 Grade-3 1730 519 200 2449 Grade-2 2800 840 200 3840 Grade-1 3800 1140 200 5140 plight table Fixed by The Govt. of Bangladesh The above table shows that, in Grade-7 the basic wage of a player is 1125 taka. He or she will get 30 percent of basic as a house rent and 200 taka medical allowance which is fixed. So the natural wage of a doer in grade-7 is 1662. 50 taka. And this is the minimum wage rate for every garments and factory.As same as the basic wage of a worker in Grade-6 is 1270 taka and total wage is 1851 taka. The basi c wage of a worker in Grade-5 is 1420 taka and total wage is 2046 taka. In Grade-4 basic wage is 1577 taka and total wage is 2250. 10 taka. In Grade-3 basic wage is 1730 taka and total wage is 2449 taka. The basic wage for Grade-2 and 1 are 2800 taka and 3800 taka respectively and total wages are 3840 taka and 5140 taka respectively. So in every grade the worker will get a basic wage, plus he or she will get 30 percent house rent of basic and 200 taka fixed medical allowance.Bangladesh govt. follows the following rule to set up a workers total wage in every grade. heart Wage = Basic wage + (Basic wage ? .3) + 200 House rent Medical allowance S. Nahar Garments corporation also gives some extra realise to motivate its workers. It gives its workers 100 taka as attendance allowance. In this garments every worker has to work 6 days in a week and rest of the day is holiday for the worker. If any worker is present all the workings days consequently he or she will be give 100 taka as attendance allowance.If he or she in 2 or less than 2 days then he or she will get 50 taka as attendance allowance. If any worker is absent in more than 2 working days then no attendance allowance is applicable. This allowance is on monthly basis. The company also provides bonus on the festive season. That means on Eid, Puja the worker gets 50 percent bonus on his gross wage. There are overtime facilities for the workers in this garment. Every worker has to work 8 hours in a day and 48 hours in a week. He or she is allowed to work up to 60 hours in a week. For the overtime hours he or she will get 2 times wage of basic.This company does not provide any production bonus. The garments company also provides some others facilities. It provides drugs for its sick workers. The egg-producing(prenominal) workers get 16 week leave as maternity benefit. There is also a daycare centre for those female workers who have children RECOMMENDATION From the survey in S. Nahar Garments, we learn tha t their incentives wage plan is not much encouraging. So we advise that, they should provide launch allowances and follow the piece work plan. By using this plan they can increase their production. It is using motivation of labors.Because piece work plan give set of the labors work, and increase their wage. This plan also increases production, which can generate companys revenue. That means increase profits. So this plan will be effective and profitable for the company CONCLUSION At the end of the report it is kind of evident that the wage plan of the S. Nahar Company is not very high. But, to increase this potential S. Nahar Garments must plan its way very carefully. We have formulate all the strategies needed to gain substantial wage plan. Now S. Nahar Company must follow all those strategies.Any lack of commitment in S. Nahar Garments part would result in a disaster. But after establishing themselves in organization they must not feel like winners. Making a greater wage for em ployees is not the end of the story it wont be living happily ever after. Because it is nothing about the king tales, rather the real world that is getting more and more participating and uncertain and where it is to believe that problems are there always but on with the solutions. It is just the initiative that should be taken at that moment to find the solution.
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