Compensation &

benefits
GROUP NO 3
Kulsoom Alam10819 Group leader ZRG
International
Rameez 9253 BANKALFALAH
Asad 11102 PIA
Kamran Mansoori 11148 JS BANK
Humari khan 11127 TPL
Umber11487 CITY SCHOOL
Faizan Raheem 11139
Khushboo Feroz 10535 YKK COMPANY
Syed Osama Hussain 11124 JUBILEE
ALI Shahzad 11069 Agha Khan
Talal warsi 11663 K-Electric
[Compensation & Benefi ts]
[ BY M. Rameez Feroz ]
Dated: April, 2016

BANK
ALFALAH
 BANK ALFALAH

Contents
Introduction to Bank Al Falah

Human Resource department at Bank Al Falah

HR Mission & Banks Values

Performance management

Employee compensation and benefits

Conclusion
 BANK ALFALAH
Introduction to Bank Al Falah
Bank Alfalah Limited was launched in 1997 as a public limited company.
Bank Alfalah is the 6th largest bank of Pakistan with 648 branches in Pakistan and abroad.
The roots of the bank go back to the Bank of Credit and Commerce International (BCCI),
which was closed down due to various allegations. The Pakistan operations of BCCI were
taken over by State Bank of Pakistan and nationalized to safeguard the consumer interests,
under a new identity of HCEB or 'Habib Credit and Exchange Bank'. In 1997, the bank was
privatized and taken over by 'Abu Dhabi Group' of UAE, with a new identity of 'Bank
Alfalah Limited'.
Bank Alfalah have Oversea Bank Unit (OBU) presence in below jurisdictions;
Bangladesh
Afghanistan
Bahrain
Dubai (to be opened by Q217)

IFC Investment
The Bank Alfalah Limited (BAFL) has received an equity investment of Rs 6.66 billion in
Sep15 from the International Finance Corporation (IFC).
 BANK ALFALAH

Human Resource department at Bank Al Falah

At start there was no concept of manpower planning in Bank Al Falah

But after the privatization of Bank Al Falah massive programme was launched
by new leadership to introduce a Culture Change in the organization

Main purposes of this culture change process were:

1. Transformation of Bank Al Falah from service organization to service/profit

earning entity
2. Introduction of technology based infrastructure eliminating old manual
ledgers
3. Induction of highly educated and professional employees in the bank through
all Pakistan open merit written examination conducted by Pakistan Banking
and Finance Services Commission

. For this purpose a separate Group has been created in the bank to handle
HR matters It is called Human Resource Management.
 BANK ALFALAH
HR Mission
Provide more talented Human Resource in all Bank Al Falah functional
areas in relation to competition

Keep all the employees motivated and maintain total industrial harmony

Bank Al Falah Values

Bank Al Falah believe that:

People make the organization

People collectively yield results
People have ambitions and aspirations to be distinguished and rewarded
People form the human capital to be developed and invested in
 BANK ALFALAH
Performance management
Necessary because it improves organizational performance via
improving individual performance

It identify individual potential, what can be done to get better results

from individual skills

Helps in Appraisals and Promotions

 BANK ALFALAH
Examples of Performance standards in
different departments
Category Standards
Business Targets for Deposits, Advances, Profits,
Business Volume, Import/Exports, New Products
Operations Operational matters like Internal workings,
Complaints and complaints handling Staff
positioning , Customer care, Follow up of
procedure, Prudential Regulations , KYC, AML
Compliance Audit, Audit category, Audit irregularities and
their rectification, Compliance of audit manual,
Compliance of procedures, SBP/ External audit
Credit Credit procedures, Credit formalities, Legal
issues, Export handling documents, FIM
creation, SBP Prudential Regulations

HR HR Issues, Training and Development, Training

needs assessment, Transfers & postings,
Disciplinary cases, Frauds/ forgeries handling,
Industrial relations
 BANK ALFALAH
Performance reports
Bank Al Falah was using old system for employees evaluation until 2004
when Performance based Appraisal system was launched by HRM in
Bank Al Falah

According to this system employees are assigned SMART job goals at

the start of the year then mid year and final evaluation is made at the
end of the year on the basis of these set targets

Further employee evaluation is done by his immediate boss regarding

his motivation and behavior, then employee report is prepared with his
consent to eliminate biasness

These reports also provide basis for employee appraisals, promotions

and training need assessment

In a calendar year 2 training are necessary for each employee working

in BAFL and same is part of the KPI for his team leader.
 BANK ALFALAH

Employee compensation and

benefits
Gives motivation to employees, help retain good staff, and encourage
employees to give their best

Employee compensation and benefit rules are decided by the

management along with market mechanism

Good Employment Benefits in Bank Al Falah ensure minimum turnover

rate
 BANK ALFALAH

Competitive Wage Policy

At present, salary structure of Bank Al Falah employees is much
better than its competitors. Besides basic pay, following allowances
are also paid to employees irrespective of their grade or scale

House Rent Allowance (50% of basic pay)

Conveyance Allowance (minimum 50 liters of petrol to clerical staff,

80 liter OG-III, 100 Liters OG-II, 120 to OG-I, 200 TO AVP and so
on.)

Utility Bill Allowances

Education Allowances
Medical Allowances including Parents
Maternity Allowances
Life insurance
Death Insurance
 BANK ALFALAH

Spot Cash Awards:

They are awarded for extraordinary counter service or adopting
precautionary measures to prevent frauds/ forgeries

Special Cash Awards:

Every year, best performers are awarded with cash awards ranging from
Rs. 100,000/-to Rs. 500,000/- depending on the grade of the employee

Mostly managers are benefited from this award to motivate them for
procuring more business
 BANK ALFALAH
Annual Increase:
Employees (AVP and above) get annual increase in their basic pays
depending on their performance, cost of living with increase rate varying
from 4% to 17%
All other employees get their annual increase as per rate announced by
the Head Office irrespective of their performance
However from the year 2009, concept of "Pay for Performance" is
implemented in Bank Al Falah for all the officers and executives
Loan Facilities

Motor Cars for Branch Managers

Promotions
 BANK ALFALAH

Conclusion
Bank Al Falah is the employer of choice

The whole Bank Al Falah family comprises of committed and

dedicated members with passion to serve in their respective
functional areas

The Bank has challenging work environment where merit and

performance help the individuals to explore their true potential

Bank Al Falah is a caring employer which enables the employees to

excel and grow in highly congenial employment conditions and culture
 THANK YOU

BANK
ALFALAH
 Presentation
Human resource Management
Course Supervisor:
Sir Akber Hirani Presented By:
Alishahzad : 11069
Organization Introduction:
The Aga Khan Health Services (AKHS) is one of three agencies of the Aga Khan

Development Network (AKDN) that support activities in health. The others are the

Aga Khan Foundation (AKF) and the Aga Khan University (AKU). Together, the

three agencies provide quality health care to five million people annually and work

closely on planning, training and resource development. AKHS also works with the

Aga Khan Education Services (AKES) and the Aga Khan Agency for Habitat

(AKAH) on the integration of health issues into specific projects.

 Vision & Mission
Vision:Aga Khan Health Service, Pakistan (AKHS,P) is a leading non-
profit, non-governmental and non-denominational community-based
organization that seeks to achieve the highest quality of life with its
catchment populations through enhancing their health and well-being

Mission:Aga Khan Health Service, Pakistan (AKHS,P) aims to foster

healthy communities in its catchment population through:

Creating an enabling environment for health enhancing actions,

Caring and compassionate provision of quality assured health care,

Development of effective and integrated health service delivery systems,

models

Generation of sustainable models of healthy communities replicable

across Pakistan.
Compensation and Benefits

Leaves

Earned Leave: 23 working days per annum and is admissible

after 6 months of services.
Sick Leave: 15 calendar days per annum
Causal leave entitlement is 10 calendar days per annum and is
subject to prior approval of department head or immediate
supervisor
Group Life Insurance

Employees are covered under the group life insurance scheme

for Rs. 700,000/- or 30 months last draw gross salary,
whichever is higher. Additionally coverage for temporary and
permanent disability or death due to accidents is also provided.
The cost of premium is fully borne by the organization

Provident Fund

The employees monthly contribution will be 10% of the basic

salary which will be deducted directly from salary, which will
be deducted directly from salary . The organization will
simultaneously contribute an equivalent amount to the
employees provident fund account. The provident fund will be
effective from the commencement of regular full-time
employment
Outpatient Medical Expenses

Annual maximum reimbursement limit is Rs 49,000; of this Rs

24,500 will be reimbursed for expenses incurred at AKUH
Stadium Road campus or secondary health care hospitals. The
reimbursement of outpatient medical expenses incurred at
institutions outside AKUH will be allowed up to a maximum
of Rs 24,500
Inpatient Medical Expenses

Aga Khan University will bear 85 percent of the admissible

hospitalization expenses. The remaining 15 percent of the
expenses will be borne by the employee and should be settled
by the employee before the patient is discharged. However, if
an employee is unable to pay the required expenses
immediately, he/she can request for this amount to be deducted
from his/her salary in a maximum of 12 equal installments.
The above hospitalization benefit is applicable at AKUH
Stadium Road campus or secondary health care hospitals and
the room entitlement for the employee and his/her dependents
will be of general ward.
Assistance for Diagnostic Tests and
Procedures Expense

All diagnostic tests and procedures which cost over Rs 7,000

will be treated as inpatient, i.e. 85 percent of the cost will be
borne by AKUH and 15 percent will be charged to the
employee. All eligible employees and their dependents can
avail this benefit. Limits apply: expenses pertaining to dental
procedures, cosmetic treatment and executive medical check-
ups will not be admissible under this category
Medical Coverage

The organizations provide medical benefits to all regular

full time employees and their eligible dependents
through partial reimbursement of in-patient and out-
patient medical expense
For purpose of medical benefits employees may have the
following family member as their dependents:
Spouse
Unmarried daughter and sons up to the age of 23 years ,
If employees eligible dependents are entitled for
medical benefits elsewhere , they will be entitled to
claiming from the organization only the difference in
expenses incurred , within the limits of the employees
medical benefits policy
Related the Gray Dessler

Supplemental pay: sick leave and vacation pay

Insurance: workers compensation
Retirement: Pensions
Employee services: child-care facilities or etc.
THANK YOU
Name : Kamran
Mansoori
ID:1148
INTRODUCTION
Compensation is a systematic
approach to providing monetary &
non monetary value to employees
in exchange for work performed.
Compensation may be defined as
money received in performance of
work and many kinds of benefits
that an organization provides to
their employees.
OBJECTIVES
To recruit & retain qualified employees.
To increase or maintain morale.
To determine basic wage & salary.
To reward for job performance.

COMPENSATION COMPONENT
compensation monetary Non monetary direct indirect

COMPONENT Direct compensation

Base Pay
Bonus
Long term incentives
Perks or perquisites
Indirect compensation
Insurance (health, eye).
Leaves (sick, holiday/personal)
Clothes
Company parties
Phones/laptop
Retirement programs
NON MONETARY
Enhance dignity & satisfaction from work performed.
Promote social relationship with co- workers.
Allocate sufficient resources to perform work assignments.
Offer supportive leadership & management.
Enhance physiological health, intellectual growth.

IMPORTANCE
Job description
Job analysis
Job evaluation
Pay structure
Salary surveys
FACTOR AFFECTTING External Internal
Demand & Compensation supply of labour policy
Cost of living
The org. ability
Society to pay
Labour unions
Job analysis &
The economy description
Employee
Compensation and Benefits Policy
Compensation Structure: The compensation package offered at JSBank
constitutes the following two components:
Gross Salary
Benefits
Gross Salary:
Gross salary of each employee shall be determined, at the time of
appointment as laid down in Chapter 2 and shall be stated accordingly in the
offer / appointment letter;
Benefits: Employees are entitled to the following benefits as per their
benefit bands entitlements:
Group Life Insurance
Medical allowance
Gratuity Fund
Provident Fund
Car facility
Fuel Reimbursement
Mobile Phone Bill Reimbursement
Mobile Phone (Blackberry) Set Policy
Employee Loan ( Personnel/ Emergency, Car, House)
Special Allowance
Special Allowance

The primary objective of special allowance provided by JS Bank

Limited (the Bank) is to assist its employees in meeting certain
unspecified needs which may be of contingent or recurrent in nature.
Whilst it is the absolute prerogative of the Bank to determine
entitlement of such allowance to different categories of staff, however
the Bank is guided by the following matrix/criteria:

All permanent employees are entitled to such allowance with annual

ceiling as per the following defined marital status categories:

Employee Marital Status Entitlement per annum

Pak. Rs.

Single 27,800
Married (without children) 31,800
Married (with children) 37,800

The above allowance will be paid along with monthly salary

POLICY
All confirmed employees will be entitled for loan categorized as under:

Personal Loan

Car Loan

House Loan

Take-over of Loans

The HR Head and President/ CEO have the joint authority to waive any of the loan
terms.
PERSONAL LOAN

a) Eligibility: After confirmation of services

b) Loan ceiling: Equivalent or less than three gross salaries

c) Tenure: Within four years with monthly repayment installment of all loans not to
exceed 40% of employees gross salary

d) Interest Rate: 5% per annum or as agreed and defined by JS Bank

e) Collateral: As per management decision.

f) Other condition: The employee can avail loan under same category subject to
minimum 50% repayment of existing loan.
Performance Increments and Bonus

PURPOSE

Annual salary increment is essentially linked to the performance of the employee.

Increments are awarded in recognition of an individuals effectiveness,
accomplishment, competence and superior performance in his / her job assignment and
serve as an incentive for greater achievements in the future.
POLICY

An employee must have been confirmed in service and have served a minimum period
of 3 months in order to be eligible for performance increment and / or bonus.
Performance Increment:

Increments reflect a pay-for-performance system that is tied to the Annual Performance

Management System.

Performance / Merit Increment percentages will vary from year-to-year depending on

the financial viability of the Bank and will be determined by the Board HR Committee.
The President / CEO will give final approval for the Performance Increments. In the case
of LOB Heads / MG-11 and above, this will be done in consultation with the Boards HR
Committee.

All increments are calculated on the basis of the last drawn gross salary as per
individuals rating.

Performance increments will be effective from 01st January of the year following the
year of assessment.
Reward and Recognition Policy

PURPOSE

The JS Bank would like to encourage areas to recognize excellent work and
achievement through the use of rewards that are creative, flexible, and meaningful.
These awards are intended to effectively reward and recognize individuals and/or
groups for outstanding performance.
POLICY
Rewards are given for significant outstanding performance tied to a specific
accomplishment.

Rewards are designed to reflect the unique nature of an areas work culture.

Care should be taken in communication and distribution of rewards so that they are not
viewed as entitlements.

Rewards cannot be substituted for a competitive salary plan. Rewards may not be used
as a long-term alternative to permanent salary adjustments.

Customary work-related expenses such as travel, conference attendance, and

memberships in professional organizations can be considered as reward.
Business Meals with External Clients, Associates, Suppliers, Other

Business meals with business associates and clients, will be reimbursed duly approved
by the LOB Head. In the case of LOB Heads, (post fact) approval of the President/CEO
will be required.

Gifts to Clients / External Parties

Gifts to business associates or clients should be kept appropriate to the business
relationship. Pre-fact approval from LOB Head is mandatory for an expense of up to Rs.
5,000/-. Higher expenses will require approval of President/CEO.

Waiver / Discount on Charges of Consumer Products

To facilitate staff, waiver / discount on charges of Consumer Products (Credit Card) are
as under
Particulars Charges for Staff
Annual Fee Platinum Card Waived
Annual Fee Gold Card Waived
Annual Fee Silver Card Waived
Annual Percentage Rate (APR) on Retail and Cash 30% p.a (subject to change) or as
determined by the Management
Annual Percentage Rate (APR) on Balance Transfer 24% p.a. (subject to change) or
as determined by the Management

Guaranteed Bonus

Half Basic Salary Bonus will be paid to the staff falling in Benefit Band 1 to Band 6 in
the holy month of Ramadan.
Name: ASAD
ID:11102
Compensation & Benefits
Compensation and benefits refers to the
compensation/salary and other monetary and
non-monetary benefits passed on by a firm to its
employees.Compensation and benefits is an
important aspect of HRM as it helps to keep the
workforce motivated. It helps give benefits to
employees based on their performance and
actions and brings the best out the employees at
workplace
compensation and benefits components
There can be several ways where benefits can be given to employees.
Some of the various components of compensation and benefits are
mentioned below:
1. Fixed pay:This is the basic salary paid to the employee irrespective of
any other factor. This is stated clearly in the employment contract. This is
the compensation or salary or wage which an employee or a worker will
definitely get as long as he or she is an employee of the company
2. Variable Pay:This is the additional compensation paid to employee
based on employees performance, company performance etc. Since
variable pay is based on the performance of an individual, it motivates
the employees to perform even better.
3. Equity Pay:Employees are awarded shares of the company, often at a
discounted price. Employees are expected to make money out of them by
the appreciation of the stock price and the growth of the company. This is
mostly given to the senior management who have served the company
for a long time
4. Other benefits:Benefits such as medical facilities, insurance policies,
company owned car of flat etc all play an important role in motivating
employees. These benefits are given by the company as a part of
recognizing the services of an employee
 Historical Profile of
PIA/Introduction
he airline was founded on 23 October 1946 asOrient Airways,
initially based inCalcutta.

e airline wasnationalizedon 10 January 1955 and was

enamed Pakistan International Airlines. Its first international
ight was in 1955.

operates scheduled services to 22 domestic destinations and

8 international destinations acrossAsia,Europe,Middle Eastand
orth America. It operates nearly 100 flights daily.
Benefits for PIA employees

There are some major benefits of Pakistan

International Airline Corporation Limited , which I am
going to discuss here:
Traveling benefit:-

Our traveling packages are based on the labour law of each

country and are benchmarked with other reputed airlines.
PIA provides a Ticket allowance benefits to permanent and
contractual staff which has ranged from 4 on yearly basis. 2
domestic and 2 international 95% off on international and
75% off on domestic flights.
Benefits for PIA employees

PIA Speedex Delivers With Speed,

Reliability, and Affordability:-

PIA's flagship courier service, Speedex, delivers

documents and parcels of any size, to your
doorstep. With a vast domestic network, cutting-
edge technology, and the highest standards of
customer service, PIA Speeded is Pakistan's
courier company of choice. If an
Benefits for PIA employees

Airport Hotel of PIA:-

Airport Hotel an another subsidiary of PIACL

100% owned by PIACL and provides another
benefit to PIA employees in the shape of
residency, swimming pool, gymnasium ,dining
hall ,conference room etc. A room in Airport Hotel
for normal passenger is cost of Rs 9000/-, but a
Benefits for PIA employees

Some Extra Allowances for cabin crew of

PIACL:-
Its seems to be a very complicated task for girls
(Air hostess) and boys (flight steward), but in
reality it is a very precious job, like in this field
you get to see new places. It is a bit like a free
short holiday. And they even pay you for that, you
can learn so many other languages by traveling
Benefits for PIA employees

Medical & Insurance Facility:-

PIA also providing medical facility and insurance for Myself and for
my family indoor and outdoor (OPDs and hospitals).
COMPENSATIONS
for PIA
Employees
COMPENSATIONS for PIA
Employees
Compensations is an amount received by an employee in
return of his/her contribution for the organization This
includes direct financial compensationconsisting of pay
received in the form of wages, salaries, bonuses and
commissions provided at regular and consistent intervals.
COMPENSATIONS for PIA
Employees
PIA provides some major and beneficial compensations
for his/her employee and these compensations are as
follows:-
Basic pay.
House rent 45%.
Convence allowance.
Utility Allowance .
Special Allowance (fixed).
Personal pay 5% of basic pay.
COMPENSATIONS for PIA
Employees
Grooming allowance
Trade related allowance to various catogories
Compensation & Benefits @
K-Electric

Talal Warsi 11163

6/5/17
 BENEFITS & COMPENSATION
INTRODUCTION
WE PROVIDE ELECTRICITY TO KARACHI, THE CITY OF LIGHTS, WHICH IS HOME TO OVER 22
MILLION PEOPLE.
K-ELECTRIC LIMITED CATERS TO THE CITYS 6,500 SQUARE KILOMETRES AND SUPPLIES
ELECTRICITY TO ALL THE INDUSTRIAL, COMMERCIAL, AGRICULTURAL AND RESIDENTIAL AREAS
THAT COME UNDER ITS NETWORK. THE ORGANISATION HAS OVER 2.5 MILLION CUSTOMER
ACCOUNTS IN KARACHI, DHABEJI AND GHARO IN SINDH, AND HUB, UTHAL, VINDAR AND BELA IN
BALOCHISTAN.

WE ARE THE ONLY VERTICALLY-INTEGRATED POWER UTILITY IN PAKISTAN, WHICH MEANS WE

MANAGE ALL THREE KEY STAGES GENERATION, TRANSMISSION AND DISTRIBUTION OF
PRODUCING AND DELIVERING ENERGY TO OUR CONSUMERS. K-ELECTRIC IS ALSO ONE OF THE
CITYS LARGEST EMPLOYERS, WITH OVER 11,000 MEMBERS OF STAFF.

FORMERLY KNOWN AS KARACHI ELECTRIC SUPPLY COMPANY LIMITED, THE ORGANISATION WAS
ESTABLISHED OVER A HUNDRED YEARS AGO AND IS AN INTEGRAL PART OF ONE OF THE
WORLDS MOST POPULOUS CITIES. IN 2009, ABRAAJ ACQUIRED A CONTROLLING STAKE IN KES
POWER LIMITED, THE MAJORITY SHAREHOLDER, BEGINNING A TURNAROUND WHICH HAS THUS
FAR SEEN INVESTMENTS OF OVER USD 1.2 BILLION. OUR TRANSITION TO K-ELECTRIC IN THE
FACE OF NUMEROUS CHALLENGES HAS BECOME A CASE STUDY IN BUSINESS EXCELLENCE AND
TRANSFORMATION, AND WE CONTINUE TO WORK HARD TO TAKE KE FORWARD AND EARN THE
TRUST OF ALL OUR STAKEHOLDERS.
WE ARE PROUD TO HAVE BECOME ONE OF THE MOST DYNAMIC INSTITUTIONS IN THE COUNTRY
BUT OUR ASPIRATION IS TO CONTINUOUSLY IMPROVE AND SERVE KARACHI WITH EVEN GREATER
VIGOUR AND PURPOSE.
Benefits & Compensation

KE IS THE LEADING HIGHLY PAID ORGANIZATION

ON THE GOOD PERFORMANCE WE RECEIVED THE QUARTERLY
INCENTIVE
MADICAL FACILTY
PHONE ALLOWANCE
FACILITAION ALLOWANCE
MOBILITY ALLOWANCE
 Management Allowances

We realize the need to be market competitive,

and facilitate our people with arange of
allowances to cater to their various job related
responsibilities.Allallowances provided at KE are
job centric in nature and are intended to facilitate
employees in executing their deliverables
effectively.
Management Allowances
Non - Management Allowances
Name FAIZAN
RAHEEM
ID :11139
COMPENSATION AND BENEFITS POLICY

64
 Medical Cover (Out Patient)
The Medical Allowance has been increased to Rs.xxxx
from Rs.xxx for unmarried and married employees .

Inpatient / Day-Care Health Benefit

Group IPD Medical Benefits Structure- (Existing Option With Enhanced Room & Board Limit &
Maternity Limits
Plan A Plan B Plan C Plan D
( Level G2, ( Level O1,
Description (Level A, Level ( Level M3,
Level M1, Level Level O2,
G1) Level M4)
M2) Level S)
Hospitalization Limit Per
Person/Per Year Xxx,xxx Xxx,xxx Xxx,xxx Xxx,xxx
Daliy Room & Board Limit Xxx,xxx Xxx,xxx Xxx,xxx Xxx,xxx
Pre & Post - Hospitalization
(diagnosis, Consultation,
Medicines) 30 Days 30 Days 30 Days 30 Days
Pre Existing Conditions Covered Covered Covered Covered
Limit In Case Of Accidental
Injuries Xxx,xxx Xxx,xxx Xxx,xxx Xxx,xxx
Normal Delivery Limit Xxx,xxx Xxx,xxx Xxx,xxx Xxx,xxx
C-Section Limit Xxx,xxx Xxx,xxx Xxx,xxx Xxx,xxx
Pre & Post Natal Expenses Covered Covered Covered Covered
Pre Existing Maternities Covered Covered Covered Covered 65
Corporate Pool For Interferon
Therapy For Hepatitis B&C PKR 300,000 For whole Group
 Medical Policy for Contractual Staff
There is a coverage of Rs.75,000 per fiscal year for an
employee and immediate family

Group Life Insurance

Permanent Employees
Benefits
Life Insurance/Basic Death Benefits 24 Gross Salary
Accidental Death Benefit 48 Gross Salary
Permanent Total/partial/Temp total Dis As per schedule for temp disability
(Accidental) 100% of basic salary PM up to
xx,xxx/-
Permanent total Disability 24 Gross Salary
(Natural/Accidental)
Terminal Illness Benefit Free

Contractual Employees
Benefits
Life Insurance/Basic Death Benefits Xxx,xxx/-
Accidental Death Benefit Xxx,/-
As per schedule for temp disability
Temporary Disability 100% of basic salary PM up to
xxx,xxx/-
Permanent total Disability Xxx,xxx/- 66
(Natural/Accidental)
Terminal Illness Benefit Free
Gratuity (For Permanent Employees) Form

100% of the last drawn basic salary for each completed

year after 3 years
Previous Gratuity: 25% of last drawn basic salary for
each year after 3 years

Gratuity (For Contractual Employees)

A benefit in replacement of gratuity will be given to

contractual employees equivalent to one gross salary on
each completed year of service.

67
Provident Fund Form

Provident fund will be deducted from the date of joining

rather than date of confirmation @ 8.33% of basic salary

Salary Advance SoP

Confirmed employee can avail this facility twice a fiscal

year of one gross salary repayable in maximum six
months from the month of disbursement.

Under special circumstances / conditions an employee

(Level M3 and below) can ask for advance equivalent to 68
two gross salaries which needs to be approved from CEO.
Special circumstances / conditions for Salary Advance

To pay medical bills of employee or immediate family members

To pay expenses in connection with their marriage

To pay expenses in connection with funeral of an immediate

family member

To pay tuition, admission or registration fees, for academic or

professional education of employee or immediate family
member

An employee proceeding on Annual Leave / Maternity Leave or

on Training for more than one month, can also apply for
Advance Salary with prior approval of the Management
69

To pay advance rent and religious festivities.

Marriage Gifts

Marriage Gift has been revised to Rs.x,xxx for all Levels from
Rs.x,xxx.

Laptop Policy
Only Managers and above are entitled to laptops. For any position
lower than manager, desktops are given

Employee will be exclusively responsible for the safety and

security of the laptop, however in case of theft or snatching:
he/she must immediately notify HR / Admin. and IT departments
and complete all legal formalities including lodging of FIR etc. for 70

insurance claim.
Car Policy

Position Car Maintenance Car Make

Organization
General
maintained plus 1300cc Local
Managers
Driver Allowance of Assembled
(Level G1)
Rs. Xx,xxx

Organizational Level Car Allowance

Deputy General Managers

Rs.xx,xxx/-
(Level G2)
Senior Managers (Level
Rs.xx,xxx/-
M1)
Managers (Level M2) Rs.xx,xxx/-

71
Car Policy

Theft/Snatching/Total Damage of the Car

All organization vehicles shall be insured

In case of theft/snatching or total damage of the vehicle, the

insurance claim shall be settled by the insurance
organization at the agreed rate/sum assured.

72
Communication Allowance

The communication allowance is as follows:

General Manager and Deputy General Manager

Rs.x,xxx
Senior Manager Rs.xxxx
Deputy Manager Officer (Office Based staff) Rs.xxx
Deputy Manager Officer (Field Based) Rs.xxxx
Drivers Rs.xxx
Drivers (TB) Rs.xxx

73
Communication Allowance

Organization shall provide postpaid SIMS with a balance

of Rs.500/- to our field staff (Assistant Manager and
below). However, excess use will be deducted from
salary. .

In case of theft, lost, damaged or snatched the cell

phone holder will be responsible to inform to the
immediate supervisor immediately. However, remaining
cost will be deducted from mobile user/holder.

74
Fuel Allowance
Fuel Reimbursement
Level
per month
General Manager and
xxx Liters
Deputy General Manager
Senior Manager xxx Liters
Manager xxx Liters
Assistant Manager and
Deputy Manager(Field xxx Liters
based positions)

Field Travel Allowance within base town

For Officer Level, allowance has been increased from Rs.x,xx/KM to Rs.x,xx/KM

Field Travel Allowance outside base town

75

There is a change in Rate per Kilometer, i.e. from Rs.x/KM to Rs.xx/KM

Over time & workdays

This will be applicable on all existing permanent and contractual

Drivers / Office Boys / Tea Boys/ Cleaners.

Work beyond normal working hours including week ends and

public holidays shall be treated as overtime.

All such staff shall be appointed on 6 days per week and 9 hours
per day basis including breaks.

The overtime shall be restricted for extremely important official

assignments. The maximum overtime payable to an individual
must be within justifiable limits and be approved by the
respective supervisors.
76
Officiating Allowance

In case an employee officiates additional responsibilities

other than his/her existing responsibility subject to
recommendation of their respective HOD and
subsequent approval from Head of HR & Admin, will be
entitled for an officiating allowance i.e. minimum 20% of
his/her basic salary.

Officiating period would not be more than 6 (six) months

however in case of exigency, the period may be
extended with the prior approval from respective HoD
and Head of HR & Admin

Note
This allowance will be embedded in the salary if the
77
position is allotted permanently.
Technical Allowance

The allowance is revised from Rs.x,xxx to Rs.x,xxx for all

doctors on board

Hard Area Allowance

For these hard areas the health services staff required an

additional allowance which is @ Rs.x,xxx/month other than
technical allowance Balochistan
Sindh Punjab and salary.KPK AJK
Dadu Gujranwala Quetta Abbottabad Muzaffarabad
Gujrat Dera Ismail Khan
Sialkot Peshawar
Sahiwal Swat
Faisalabad Gilgit Baltistan
Jhang
Rahimyar Khan 78

Jhelum
Taxi Fare

The Taxi Fare for support staff (Driver, Peon & Cleaner) shall
be applicable on duty after 11 PM and before 6 AM duly
approved by the Line Manager.

Conveyance Allowance
A Special Allowance of Rs.xxx/- will be paid to the employees
of level Assistant Manager to Officer who are required to
perform duty for more than 10 working hours in a normal
working day or to work on an off day.
Along with these
Level Assistant following
Manager allowance will
Rs. X,xx/- peralso be paid:
month
Deputy Manager

Level Officer Support Staff Rs. X,xx/- per month

79
Internet Connectivity

One Time Monthly

Designation Package
Cost Charges

Chief Executive
X,xxx/- X,xxx/- Unlimited

GM/HODs
DGM/sr. Managers
X,xxx/- X,xxx/- Unlimited
Managers

80
Private Use of Pool Vehicles

Employees (Manager and above) are allowed private use of pool

vehicles against payment on holidays and off days, entirely at the
discretion of the management, subject to the following conditions:

If the vehicle is not required for official use.

Depending on the availability of pool car

The user enters details of use in the logbook.

The vehicle will be charged at the rate of Rs.xx.xx per kilometer

In case a driver is required on holidays and off days for private

duties, then the employee requisitioning the vehicle shall pay 81

allowances or per diem due to the driver.

Private Use of Pool Vehicles

Request is submitted at-least one working day in advance

Valid driving license of the employee is provided to the

Admin Department

In case of any damage or accident, employee would be

liable to bear and pay

In case of lost or stolen, employee would be charged the

depreciating amount of the vehicle.

82
Extended Use of Pool Vehicles

Employees of level M2 and above are allowed private use of pool vehicle for extended
period if vehicle is not required for official use and available for extended use, subject
to the following conditions:

The extended use is approved by HoD, Head of HR & Admin and CEO

Request is submitted at-least one working day in advance

Valid driving license of the employee is provided to the Admin Department

In case of any damage or accident, employee would be liable to pay

In case of lost or stolen, employee would be charged the depreciating amount of

the vehicle

Details of use are entered in the logbook by the user which would be subsequently
checked and verified by Admin Department
83

The Employee will be charged at Rs.11/ km for pool car use.

Travel Policy within Pakistan

Level Hotel / Per Self / Outbac Air Rail

Room Diem Per k
Diem

Rooms with Economy

electronic
Level A X,xxx X,xxx X,xxx class A/C
facility

Level G Standard Economy

Room
X,xxx X,xxx X,xxx class A/C

Level M Standard Economy

Room
X,xxx X,xxx X,xxx class A/C

Level O&S Standard X,xxx X,xxx X,xxx Economy A/C 84

Room Class
Field Travel Policy
Level Daily Outback Self Per Reimbursem Non-Touring
Allowance / Per Diem ent Allowance
Diem
(for (For
Overnight Outstation
Stays Visits upto
only) 50 kms Only)
MR X,xxx X,xxx X,xxx X,xxx Rs. X,xxx

/ km /per month

For those who are

not required to
travel outside their
based town. No
outback would be
payable if non
touring allowance is
applicable
CHO X,xxx X,xxx X,xxx X,xxx N/A

/ km
Level O1 &
O2
X,xxx X,xxx X,xxx X,xxx N/A
85
IPCO/FP
Councilor/Q / km
AM/Medical
Officer
Per Diem Claims

Entitled employee is only allowed to claim reimbursement of

charges for standard single rooms while staying at hotels on
official duty.

For purposes of claiming Per Diems, each day is divided into

four parts:
Midnight to 0600 hours
0600 hours to mid-day
Mid-day to 1800 hours
1800 hours to midnight

Per Diem entitlement is calculated from the time of departure

from home/office to the time of return, and each of the time
segments shown above constitutes 25% of the applicable daily 86

rate.
Guidelines for Travel Reimbursement

Employees are advised to plan their travel plans in advance

in order to enable the Admin Department to arrange airline
tickets and hotel accommodation with prior approvals.

In addition, a percentage of the per diem will be deducted

for meal provided officially by the organization e.g. through
arrangements with the hotel or official meals during
conferences. The deductions will be @35% for lunch, and
@35% for dinner of per diem.

87
Advance for Official Travelling

Advance for official traveling can be requested on Travel

Authorization and Advance Request Form which should be
completed and approved by the Senior Manager / Supervisor and
submitted to Admin department at least a week in advance.

A separate advance should be obtained for each task / project.

At least 3 working days lead time should be allowed for the

processing of each advance.

Request for advance will not be processed if any previous

advance remains outstanding.

Advance received for travel must be settled within 5 working

days of returning to the base station otherwise it will be 88

deducted from the employees salary in the following month.

Conveyance Facility for Females (Field Operations)

This policy is applicable for female field staff only to

facilitate them in field related job.

The employee shall be provided with the Companys

maintained car along-with driver for business purpose only.

The car and driver shall be at the disposal of the respective

staff during working hours thereafter car shall be parked in
the organization premises.

89
THANK YOU

90
 Human Resource

presentation by
Syed
Osama Hussain
11124

Submitted to
Sir Akbar
 Compensation & Benefits
Compensation is the remuneration received by an employee in return for
his/her contribution to the organization.
It is an organized practice that involves balancing the work-employee
relation by providing monetary and non-monetary benefits to employees.
The sum of all forms of payments or rewards provided to employees for
performing tasks to achieve organizational objectives.
Compensation is the process of providing adequate, equitable and fair
remuneration to the employees.
It is a comprehensive term which includes pay, incentives and benefits
offered to the employees.
Compensation is a systematic approach to providing monetary value to
employees in exchange for work performed.
Needs For Compensation
When managed correctly, it helps the organization achieve its objectives and
obtain, maintain, and retain a productive workforce.
Compensation is a key factor in attracting and keeping the best employees
and ensuring that your organization has the competitive edge in an
increasingly competitive world.
Without adequate compensation, current employees are likely to leave and
replacements will be difficult to recruit.
The outcomes of pay dissatisfaction harm productivity and affect the quality
of work life
Difference between compensation and benefits

Both the factors are important in motivating employees

for doing their work and paying them for the services
they are doing for the company. However, there is a
slight difference between compensation and benefits.
Compensation is completely related to the money
which is being paid to an employee i.e. salary.
bonuses etc. On the other hand, benefits are the non-
monetary incentives given to employees like health
benefits for which the employee doesn't have to pay.
JUBILEE LIFE INSURANCE
COMPANY LIMITED

Company Introduction
Jubilee Lifes Profile

Integrity Passion Excellence Teamwork 97

97
Jubilee Insurance
Our Brand

Vision Enabling people to over uncertainty

To provide solutions that protect the future

Mission of our customers

Values Teamwork, Integrity, Excellence, Passion

Integrity Passion Excellence Teamwork 98

98
 Compensations and
Benifits
Leave Policy
Benefits for Permanent Confirmed Employees
Performance Management
Availing of Advances
Pay Dates and Bonus Eligibility
PF and Gratuity
Health and Life Insurance
Company Car

Integrity Passion Excellence Teamwork 99

99
 Benifits:

Employee benefits are optional, non-

wage compensation provided to
employees in addition to their normal
wages or salaries. These types of
benefits may include group insurance
(health, dental, vision, life etc.), disability
income protection, retirement benefits,
daycare, tuition reimbursement, sick
leave, vacation (paid and non-paid),
funding of education, as well as flexible
and alternative work arrangements.
Integrity Passion Excellence Teamwork 10
10
 Health and Life Insurance
Jubilee Life provides its Health and Life Insurance benefits to all its Confirmed Permanent Employees.

Health Insurance:
All confirmed permanent employees up to the age of 60 years and their dependent i.e., spouses and
up to four children are covered.

Coverage
Hospitalization, Out Patient Services and Maternity Benefits.

Plan A: Managing Director, Executive Directors and Group Heads

Plan B: Departmental Heads
Plan C: Chief Manager, Assistant General Manager & Above
Plan D: Assistant Manager, Deputy Manager & Manager
Plan E: Senior Executive Officer & Executive Officer
Plan F: Junior Executive & Assistant Executive

Life Insurance:
All Confirmed Permanent employees are covered under Group Life Insurance of Jubilee Life. In case of
Death of an employee while in service, 48 last drawn Basic Salaries will be given to the beneficiary.

Integrity Passion Excellence Teamwork 10

10
 Health Care Insurance Plans
Plan A & B
Managing Director, Executive Directors, Group Heads and Departmental Heads
1) Hospital & Related Limits Only Relevant Designations may refer to
(Per person per year) HR for Coverage Limits
Only Relevant Designations may refer to
Room & Board (per day)
HR for Coverage Limits
2) Out Patient Services
Overall max. limit inclusive of drugs
Only Relevant Designations may refer to
(Per person per year) HR for Coverage Limits
Overall max. family limit inclusive of drugs
Maximum limit Per visit
3) Maternity Benefit
Only Relevant Designations may refer to
Normal Delivery
HR for Coverage Limits
Complicated Delivery

Plan C Plan D
Chief Manager, Assistant General Manager & Assistant Manager, Deputy Manager & Manager
Above 1) Hospital & Related Limits
Rs.1,250,000
1) Hospital & Related Limits (Per person per year)
Rs.1,500,000
(Per person per year) Room & Board (per day) Rs.11,250
Room & Board (per day) Rs.15,500 2) Out Patient Services
2) Out Patient Services Overall max. limit inclusive of
Overall max. limit inclusive of drugs
drugs (Per person per year) Rs.35,000
(Per person per year) Rs.50,000 Overall max. family limit inclusive
Rs.87,500
Overall max. family limit inclusive of drugs
Rs.125,000
of drugs Maximum limit Per visit Rs.2,000
Actual 3) Maternity Benefit
Maximum limit Per visit
Consultancy Normal Delivery Rs.97,500
3) Maternity Benefit Complicated Delivery Rs.180,000
Normal Delivery Rs.120,000
Complicated Delivery Rs.210,000
Integrity Passion Excellence Teamwork 10
10
 Health Care Insurance Plans

Plan E Plan F
Senior Executive Officer & Executive Officer Junior Executive & Assistant Executive
1) Hospital & Related Limits 1) Hospital & Related Limits
Rs.750,000
(Per person per year) Rs.1,000,000 (Per person per year)
Room & Board (per day) Rs.7,000 Room & Board (per day) Rs.5,750
2) Out Patient Services 2) Out Patient Services

Overall max. limit inclusive of drugs Overall max. limit inclusive of drugs
(Per person per year) Rs.20,000
(Per person per year) Rs.25,000 Overall max. family limit inclusive
Overall max. family limit inclusive of Rs.50,000
Rs.62,500 of drugs
drugs
Maximum limit Per visit Rs.1,250
Maximum limit Per visit Rs.1,500
3) Maternity Benefit 3) Maternity Benefit
Normal Delivery Rs.75,000 Normal Delivery Rs.63,750
Complicated Delivery Rs.150,000 Complicated Delivery Rs.135,000

Integrity Passion Excellence Teamwork 10

10
Leave Policy
An employee has a right to take annual leave, subject to proper approvals of the schedule at
which annual leave may be taken.

All annual, Casual, Sick Leaves are on Pro Rata basis.

For Contractual Staff:

A Total of 15 Working Days leave per annum will be granted irrespective of the purpose of
the Leave.
No additional leaves will be granted.

Permanent Staff may avail the following Leaves:

Earned Annual Leave

Sick Leave
Casual Leave
Special Leave
Maternity Leave
Sandwich Rules

Integrity Passion Excellence Teamwork 10

10
 Company Car
Jubilee Life provides its Health and Life Insurance benefits to all its Confirmed
Permanent Employees.

Maintained
Owned & maintained by Jubilee Life for sales staff (Assistant Branch
Managers, Assistant Sales Managers and newly inducted managers)

Provided

Entitlement: 5 years equal installments (cost of car/60)

Buy Back: - On completion of 5 years

- Payment of 15% of cost

Change of car will be allowed on completion of 5 years

Mentioned below are the limits of the Company Car

Assistant Manager 1,250,000

Deputy Manager 1,500,000
Manager 2,000,000
Chief Manager 2,500,000
AGM & Above 3,000,000
Department Head 3,500,000
Group Head 5,000,000

Integrity Passion Excellence Teamwork 10

10
 Compensations:

Compensation describes the cash rewards paid to employees in exchange for the
services they provide. It may include base salary, wages, incentives and/or commission.

Integrity Passion Excellence Teamwork 10

10
 Availing of Advances

Jubilee Life facilitates its employees in meeting their

emergency financial needs of a temporary nature by
extending the following Temporary Advances:

Salary Advance: (Maximum: one-sixth of the total

current annual remuneration)
House Rent Advance: (Maximum: Six months Basic
Salary)
Current Month Salary Advance: (Maximum: One months
Net Salary)

Integrity Passion Excellence Teamwork 10

10
 Bonus and Exgratia Eligibility

Bonus Eligibility:
Eligibility: Permanent Employees confirmed by 31st March of the year will be
eligible for the annual bonus in April the next year.

A.M level and above receive Annual bonuses of which the calculations are based
directly on performance and are up to a maximum of 20% of Annual Gross Salary.

Exgratia for Support Staff:

Non-performance based Exgratia is given to confirmed support staff who have
been confirmed by 31st March of the year. AE up to SEO Level are eligible for the
exgratia of 1 Basic Salary per year.

Assistant Managers and above

Performance Based

Non Performance Based (Within Parameters)

AE up to SEO Level

Integrity Passion Excellence Teamwork 10

10
 Provident Fund

Only available to Permanent Employees upon

Confirmation.

PF Contribution:
10% of the employees basic salary which will be deducted
from the employees monthly salary. The same percentage is
contributed by the Employer.
Integrity Passion Excellence Teamwork 10
10
 Gratuity
A. Death in Service and Permanent Total Incapacity
Eligible Service completed in years Amount of Gratuity

Less than 1 year Nil

1 year or more 200% of last drawn salary for each completed year of eligible service

B. Reasons other than (A) above

Eligible Service completed in years Amount of Gratuity

Less than 5 years Nil

5 years or more but less than 7.5 years 50% of last drawn salary for each completed
year of eligible service
7.5 years or more but less than 10 years 75% of last drawn salary for each
completed year of eligible service
10 years or more 100% of last drawn salary for each
Completed year of eligible service

Integrity Passion Excellence Teamwork 11

11
Thank You!
Name: UMBER
ID:11487
 Compensation and Benefits

Meaning and significance of compensation and

benefits, Basic Salary, allowances, incentives,
perks and benefits. Structured Pay scales of the
Government Sector and Cost to company
approach of the private consultant. Statutory
aspects of compensation and benefits
 Meaning & Definition of
Compensation:
According to Cascio, Compensation
includes direct cash payments, indirect
payments in the form of employee
benefits, and incentives to motivate
employee to strive for higher levels of
productivity.
According to R. Wayne Mondy,
Compensation is the total of all rewards
provided to employees in return for their
services. The overall purposes of providing
compensation are to attract, retain and
motivate employees.
Essential features of compensation:
 Compensation and benefits

Basic/ base salary: fixed compensation paid regularly

with periodical increase say once in a year regardless of
the rate of growth of the business
Short term incentives: cash paid/ company paid trips
and picnics for achieving short terms goals like achieving
sales targets for the year
Long term incentives: Stock option plans
Special executive benefits: insurance policies at
company cost, health insurance
Benefits: paid leave, health care, survivors protection,
retirement plans.
Perks : company car, housing, club membership,
entertainment, news paper, house maintenance, maid
servants charges.
 Vision
2020
Students and the students experiences
are at the heart of The City School and
this vision defines its ambitions.
Students deserve a high quality
education with an accessible and
innovative curriculum.
Mission Statement

Our Philosophy
continuous human resource development

Our Goal
academic excellence
Our Commitment
total satisfaction
Our Culture
professionalism
The City Group Sharing of Success
Collaborations

Manchester Metropolitan University

Staffordshire University

University of Strathclyde

University of Cambridge
 nation wide

181 Schools
51 Cities
03 Regions

Central Region
Southern Region-
Mehran Zone & Quetta
Network
Northern Region
: International Footprints
Benefits and Compensation

Leaves:
Annual Leaves: Each employee is
entitled to take 30 days leave
either in the month of June or
july.it is paid leave for confirmed
employee.
Casual Leaves:
Each employee is entitled to take
10 days leaves throughout the
year it can be reimburse end of
the year.
 Medical Facilities:
Each employee
entitled to take
medical facilities in
terms of
hospitalization for
maternity purpose.
2000+
Provident fund; provident fund is the main feature of the
TCS school system ;as soon as the confirmation letter is given
.8% of the salary is deducted from the employee salary till
the time of resignation school contribution is return back in
the end of services.
Training and development is the part and parcel
of it.as per course 50% is paid by the
organization.
Annual increment; based on company revenue employee has give percentage on
economic condition and monetary gain to the organization .this year it is 10
percent.bell curve is applied from higher management to lower cadre. EOBI is also
deducted from employee salaries
conveyance allowance;
its is paid by the
organization for any
movement which will
benefit the organization.
Thank you
 Human Resource Management

Compensation And
Benefits of YKK

Presented by Khushboo
Feroz ID # 10535
What Is the Meaning of 'Compensation
& Benefits? refers to money received for
Compensation"
work, such as wages, salaries and tips, while the
word "benefits" describes job extras provided by
the employer. Benefits might include health,
dental and life insurance and paid vacation time.
Competitive compensation and appealing
benefits attract employees to companies and
positions. Some types of compensation depend
on the employee's work performance while other
compensation is a flat rate. Some workplace
benefits are required by law and others are
offered as a job perk
Compensation and benefits components

There can be several ways where benefits can be given to

employees. Some of the various components of compensation and
benefits are mentioned below:
1. Fixed pay:This is the basic salary paid to the employee
irrespective of any other factor. This is stated clearly in the
employment contract. This is the compensation or salary or wage
which an employee or a worker will definitely get as long as he or
she is an employee of the company
2. Variable Pay:This is the additional compensation paid to
employee based on employees performance, company performance
etc. Since variable pay is based on the performance of an individual,
it motivates the employees to perform even better.
3. Equity Pay:Employees are awarded shares of the company,
often at a discounted price. Employees are expected to make money
out of them by the appreciation of the stock price and the growth of
the company. This is mostly given to the senior management who
have served the company for a long time
4. Other benefits:Benefits such as medical facilities, insurance
policies, company owned car of flat etc all play an important role in
motivating employees. These benefits are given by the company as
 YKK
The YKK Group is a Japanese group of manufacturing
Introduction
companies. As the world's largest zipper/zip
manufacturer, YKK Group is most famous for making
zippers; however, it also manufactures other fastening
products, architectural products and industrial machinery.

The initials YKK stand for Yoshida Kgy Kabushiki

gaisha meaning "Yoshida Manufacturing Shareholding
Company". YKK produces fasteners and architectural
products at 109 YKK companies in 71 countries around
the world

The company initial name was San-es Shokai and was

founded by Tadao Yoshida in Higashi Nihonbashi, Tokyo in
January 1934. The company specialized in marketing of
fastening products. In February 1938 San-es Shokai was
Cont.....

In January 1946 the company registered the YKK

trademark. A major technological change came in 1950,
when the company purchased a chain machine from the
U.S. that allowed the automation of the zipper making
process. Previously, YKK zippers were made by hand, and
hence had an inferior quality compared to automated
zippers from abroad.
 Compensation & Benefits
Ykk company Provides many benefits to its employees, are listed
below.
1. Annual Leaves
2. Causal Leaves
3. Sick Leaves
4. Marriage Leaves
5. Special Leaves
6. Special Leaves(Due to accident)
7. Bereavement leaves (Funeral Leave)
8. Annual increment
9. Annual Bonus
10. Pick & Drop
11. Leave encashment
12. Company Clinic
Cont
13. Food Allowance
14. Overtime & incontinence Allowance
15. Long Service Award
16. Internal & External training
Annual Leave:
Regardless of grade all employees will be entitled to
14 days annual leave after continuous employment of
12 months. These leaves based on working days not on
colander days and public/national leaves are not
counted against it.

Causal Leaves:
All Employees after confirmation may be allowed for
maximum 10 days leave in a fiscal year.

Sick Leave:
All employees are allowed maximum 8 days leave of
sick in a calendar year.

Marriage Leave:
All employees are allowed 5 working days leave.
Special Leave:
Applicable once in the entire service period allowed for those employees
who served minimum of 3 years with the company. An employee will be
entitled to maximum 30 calendar days as special leave. Such leave will
be unpaid.

Special Leave (Due to accident)

These Leave will be granted on companys doctor recommendation.
These leave will be with full pay.

Bereavement leave (Funeral Leave)

funeral leave is allowed to all employees.

Annual increment:
Regardless of grade all employees salary will be increased by 15 %.

Annual Bonus:
All employees will be paid once in a fiscal year. The annual bonus is equal
to their basic pay.

Pick & Drop:

Transportation facility will be provided to All Employees after confirmation.
Leave encashment:
Employees can cash their leaves.

Company Clinic:
Company has its own medical staff. Moreover company provide medical
allowance to all employees.

Food Allowance:
Company has mess in a factory for all employees and provides breakfast,
lunch. And dinner to the night shift employees. For the head office
employees the company pays food allowance.

Overtime Allowance:
Company paid overtime allowance to all employees for their overtime
services.

Long Service Award:

Company rewards the employees for long service.

Internal & External training and other activities:

The company have a training and development programs for the new and
existing employees. It organize sports days, seminars and play games.
Also organize for picnic, lunch & dinner to keep happy and satisfied their
employees.
Name:
Kulsoom Alam
ID:10819
Subject:
Human
Resources
Management
 Compensation & Benefits
Compensation is the remuneration received by an employee in return for
his/her contribution to the organization.
It is an organized practice that involves balancing the work-employee
relation by providing monetary and non-monetary benefits to employees.
The sum of all forms of payments or rewards provided to employees for
performing tasks to achieve organizational objectives.
Compensation is the process of providing adequate, equitable and fair
remuneration to the employees.
It is a comprehensive term which includes pay, incentives and benefits
offered to the employees.
Compensation is a systematic approach to providing monetary value to
employees in exchange for work performed.
SIGNIFICANCE OF COMPENSATION:

1) To acquire qualified and competent personnel.

2) Retain the present employees.

3) Secure internal and external equity.

4) Ensure desired behaviour.

5) To keep labour and administrative costs in line with the ability of the organization
to pay.

6) To protect the public as progressive employers and comply with wage legislations.

7) To pay according to content and difficulty of job and in tune with the effort and
merit of the employees.

8) Simplify collective bargaining procedures and negotiations.

142

9) Organizational effectiveness.
COMPONENTS OF COMPENSATION:

Components of Compensation

Basic Salary
Allowances

Incentives
Perks or Benefits

Bonus

143
 Effort Performance Organizational Goals Individual Goals

Rewards

Rewards

Intrinsic Extrinsic

Participate in
decision making Financial Non-financial
Flexible work
Job freedom schedules
Performance based Membership based
More responsibility Leave
Piece work Basic Pay
More interesting Assistants
Commission DA
work
Impressive
Incentive Pay HRA
Personal growth job
opportunities titles
Performance Protection programmes
bonus
Diversity of Conveyance
activities Pay for time not
Indirect
Protection Programs
Medical Insurance
Life Insurance

Disability Income
Pension
Social security
Pay For Time Not

Vacations

Holidays
Direct
Base Pay
Salary
Wage
Merit Pay
Bonus
Commission
Piece Rat
Profit Sharing
Shift Differential
Deferred Pay Perquisites

Stock Purchase
Annuity

Benefits
Benefits The major reason for the increased attention in benefits is costs.
Role of benefits
To attract new employees
To retain the customer
Types of benefits
Mandatory protection programs
Social security
Unemployment compensation
Workers compensation
Compensation for time not work
Holidays
Vacations
Sick leave
Personal days
Other leave
20. Other benefits
Child care assistance
Wellness program
Educational assistance
Insurance benefits
Workers
Retirement benefits
Social security
Pension plan
Cash balance pension plan
Early retirement plan
 ZRG
Delivering IT Beyond
Expectations
Company Benefits
The confirmed staff can expect to get the following benefits at the sole discretion of the management. These
benefits are dependent on business conditions and may be revised from time to time based on economic
situation.

ADVANCED TRAININGS AND LEARNING OPPORTUNITIES:

In order to enhance the skills and learning of COMPANY staff, you will be exposed to an environment where
you will have the opportunity to work and interact with highly experienced and learned professionals. These
interactions will not only enhance your skills but also give you ready access for guidance towards your
growth. Based on the nature of your job, the company may also arrange in-house or outside training sessions
for you.

PROMOTION:
All promotions shall be made on merit, experience and performance and no employee shall have the right to
promotion to any particular grade on the basis of length of service alone.

INCREMENTS AND PERFORMANCE BONUS

Based on company revenues, economic and market conditions, and your performance, employees are given
increment in salary based on industry standards and government release figures for inflation. Bonus
announcement is based on company revenues, profits and future outlook.
INCREMENTS AND PERFORMANCE BONUS
Based on company revenues, economic and market conditions, and your performance, employees are given increment in
salary based on industry standards and government release figures for inflation. Bonus announcement is based on
company revenues, profits and future outlook.

YEAR COMPLETION AWARD:

If your job offer included a year completion award program, they will receive the award amount at the end of first-quarter
of the completed year. Based on the profitability of the company and overall business circumstances, company may
announce bonus to be paid to confirmed employees as and when deemed appropriate by the management.

EARNED LEAVES:
All confirmed staff will be entitled to earned leaves according to the companys policy & it will be added in your leave
account at 1.2 leaves a month for each month of work performed. These leaves can be utilized or accumulated and en-
cashed at the end of the year by the staff with mutual consent and understanding with their managers.

CASUAL LEAVE:
You will be entitled to use your accumulated Earned Leave as causal leave to handle your unexpected personal
situations. These cannot be used as vacation and cannot be combined with other type of leaves and day-offs. Casual
leaves cannot be en-cashed or carried forward at year end.
PAID SICK LEAVES:
You will be entitledto one (01) sick leave per month or maximum of twelve (12) in one calendar year. The paid sick leave
benefit cannot be used for any purpose other than verifiable medical condition. The paid sick leave cannot be carried
over to next period and cannot be converted into cash payments.
TRAVEL ALLOWANCE
During the course of your job, you may be required to travel and all traveling and
may be entitled to allowance according to companys policy.

PHONE:
You will be allowed to receive short calls from home and relatives on the office
telephone lines for important or other emergency reasons. Based on the job
requirements, you might be entitled to get a cell phone or expenses for the same for
official communication purposes. Using this facility for personal calls will be allowed
but charges for such calls shall be the responsibility of the employee.

OTHER BENEFITS:
Based on managements discretion, qualified high performance staff may also
receive additional benefits such as EOBI,cash advance (after completing one year),
perfect attendance award, market exposure, extra-ordinary performance reward, etc.
Name:humari
khan
ID:11127
Employee Compensation and
Benefits
 Vision & Mission

Vision
To evolve as a dominant insurance player in Pakistan
by exploring profitable niches through
thedeployment of cutting-edge technology and
proficient human capital.
Mission

To combine strategic marketing with efficient

operational execution; providing incomparable service
and product innovations to create sustainable value for
our stakeholders.
Compensation and benefits

Compensation and benefits refers to the

compensation/salary and other monetary
and non-monetary benefits passed on by a
firm to its employees. Compensation and
benefits is an important aspect of HRM as it
helps to keep the workforce motivated. It
helps give benefits to employees based on
their performance and actions and brings
the best out the employees at workplace
Compensation and benefits components

There can be several ways where benefits can be given to

employees. Some of the various components of compensation and
benefits are mentioned below:
1. Fixed pay:This is the basic salary paid to the employee
irrespective of any other factor. This is stated clearly in the
employment contract. This is the compensation or salary or wage
which an employee or a worker will definitely get as long as he or
she is an employee of the company
2. Variable Pay:This is the additional compensation paid to
employee based on employees performance, company performance
etc. Since variable pay is based on the performance of an individual,
it motivates the employees to perform even better.
3. Equity Pay:Employees are awarded shares of the company,
often at a discounted price. Employees are expected to make money
out of them by the appreciation of the stock price and the growth of
the company. This is mostly given to the senior management who
have served the company for a long time
4. Other benefits:Benefits such as medical facilities, insurance
policies, company owned car of flat etc all play an important role in
motivating employees. These benefits are given by the company as
 COMPENSATION & BENEFITS
INTRODUCTION
Compensation is what employees receive in exchange for their
contribution to the organization. Generally speaking, employees
offer their services for three types of rewards.

Pay : includes base wages and salaries

Incentives : includes bonuses, commissions and profit
sharing plans
Benefits : are indirect type of compensation including
facilities such as insurance, medical,
recreation, retirements etc

Compensation and Benefits 1

5
8
 Objectives of Compensation Planning

The most important objective of any pay system is fairness or

equity.
Three dimensions of equity are as follows:

Internal Equity : Ensures that more difficult jobs are paid

more

External Equity : Ensures that jobs are fairly compensated in

comparison to similar jobs in the labour
market.

Individual Equity : Ensures equal pay for equal work i.e each
individuals pay is fair in comparison to other doing
either the same/similar jobs.

Compensation and Benefits 159

 Objectives of Compensation Planning
(contd)

New and desired behaviour : Pay should reward employees

desired behaviours such as loyalty,
commitment, experience, risks taking, initiative etc
Ensure equity : Pay should equal the worth of a job.
Comply with legal rules : Compensation programmes must
satisfy governmental rules
Ease of operation : Compensation management system
should be easy to understand and operate

Compensation and Benefits 160

 Equity and Pay Rates

The need for equity is the most important factor in determining pay
rates.
Equity in pay rates could be achieved through the following steps:

Find the worth of each job through job evaluation.

Conduct a salary survey to find what other employers are

paying for comparable jobs.

Group similar jobs into pay grades.

Price each pay grade by using wage curves.

Fine tune pay rates.

Compensation and Benefits 161