Ty Bba Project 5th Sem
Ty Bba Project 5th Sem
PROJECT REPORT
ON
“HRM FUNCTIONS”
FOR
“PARLE AGRO PVT LTD” & “UNITED SPIRITS
LTD”
IN
PARTIAL FULFILMENT OF
BACHELOR OF BUSINESS ADMINISTRATION
[T.Y. B.B.A. SPECIALISATION- HRM] [CBCS PATTERN]
The Human Resource Management Functions which are studies in this project report
are as follows:
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ACKNOWLEDGEMENT
I greatly appreciate the staff of the surveyed business unit, who responded
promptly and enthusiastically to my requests for frank comments despite their
congested schedules. I am indebted to all of them, who did their bestirring
improvements through their suggestions.
I would like to thanks Dr. Vasant Wagh (Principal), Mr. Sudam Bhabad
(HOD, & Project Guide) Ms. Neeta Sangale (Project Guide), whose valuable guidance
and encouragement at every phase of the project has helped to prepare this project
successfully.
All the faculties, office staff and library staff of Kr. V.N. NAIK College Nasik
and friends who helped me in some or other way in making this project.
THANK YOU
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DECLARATION
I hereby declare that the project report entitled “HRM FUNCTIONS” for the
organizations of “Parle Agro Private Limited” & “United Spirits Limited” has been
carried out by own efforts & fact arrived at my observation under the guidance &
motivation of subject teacher “MS. NEETA SANGALE”.
(T.Y B.B.A)
4
INDEX
5
CHAPTER-1
INTRODUCTION TO REPORT
1.1) Overview Of HRM
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enrolled in training and development programs within as well as outside the
organization and establish effective communication terms with others within as well as
outside the organization to carry out their tasks and activities in a well-organized
manner and generate the desired outcomes. The main areas that have been taken into
account in this research paper include, the development of the HRM concept, nature of
human resource management, structure of human resource management, role of human
resource management and classification of HR roles.
The Development of the HRM Concept
The complete concept of HRM emerged in the middle of 1980s against the
background of the prominent researchers and writers on management. These included
Pascale and Athos (1981) and Peters and Waterman (1982), who produced list of
attributes that led to the development of the concept of HRM. The concept of HRM has
undergone through three stages. The initial concepts of HRM have been developed by
American writers during the 1980s. During the late 1980s, the British writers also began
to conduct research in this field. Third aspect is, the assimilation of HRM into the
traditional personnel management. One of the first explicit statements of the HRM
concept was made by the Michigan School. They held that HR systems and the
organization structure should be managed in a manner that is congruent with the
organizational strategy. Furthermore, there is explanation of the human resources cycle.
In the human resources cycle, there are four generic processes or functions that
are performed in various types of organizations. These are, selection of the workforce,
appraisal, i.e. performance management, rewards and development. When there are
vacancies within the organization, analysis is conducted in terms of the areas that when
recruitment and selection of the individuals will take place, what educational
qualifications, competencies and aptitude they should possess to generate the desired
outcomes. Within the course of performance of job duties, it is vital on the part of the
supervisors and managers to implement the performance appraisal methods. These
methods render an important contribution in identifying the limitations and bringing
about improvements. Therefore, it is necessary to implement these methods on regular
basis. Rewarding of the employees is one of the important ways of motivating the
employees. Within the organization, apart from salaries, it is necessary to make
provision of benefits and incentives to the individuals and reward them for good
performance.
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production of goods or services, it is essential to generate information in terms of
modern and technical methods. Changes are an integral part of the organization, which
takes place in all spheres, i.e. managerial, administrative, clerical, technical, financial,
and so forth. Hence, the human resources need to be well-trained to cope with changes.
The emergence of human resource management can be attributed to the writings of the
human relationists who attached great significance to the human factor. Lawrence
Appley remarked, Management is personnel administration‖. This view is partially true
as management is concerned with the efficient and effective use of both human as well
as non-human resources. Thus human resource management is only a part of the
management process. At the same time, it must be recognized that human resource
management is inherent in the process of management. This function is performed by
all the managers. A manager to get the best of his people, must undertake the basic
responsibility of selecting people who will work under him and to help develop,
motivate and guide them. However, he can take the help of the specialized services of
the personnel department in discharging this responsibility.
The nature of the human resource management has been highlighted in its following
features:
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5. Personnel Activities or Functions: Human Resource Management involves several
functions concerned with the management of people at work. It includes manpower
planning, employment, placement, training, appraisal and compensation of employees.
For the performance of these activities efficiently, a separate department known as
Personnel Department is created in most of the organizations.
6. Continuous Process: Human Resource Management is not a ‗one shot ‘function. It
must be performed continuously if the organizational objectives are to be achieved
smoothly.
7. Based on Human Relations: Human Resource Management is concerned with the
motivation of human resources in the organization. The human beings can‘t be dealt
with like physical factors of production. Every person has different needs, perceptions
and expectations. The managers should give due attention to these factors. They require
human relations skills to deal with the people at work. Human relations skills are also
required in training performance appraisal, transfer and promotion of subordinates.
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1.2) Objectives Of Study
To identify real HRM practice in Parle Agro Private Limited & United Spirits
Limited.
To analyze how Design of Organization of Job, Human Resource Planning,
Compensation Benefits and Union Management Relations functions are to be
done in Parle Agro Private Limited.
To analyze how Staffing, Training & Development, HR Compliance and
Payroll functions are to be done in United Spirits Limited.
To perform in depth analysis of the above functions in both of organizations.
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1.3) Limitations Of Study
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CHAPTER-2
COMPANY PROFILE
A) Parle Agro Private Limited
Parle Agro Private Limited
Type Private
Traded As Unlisted
Industry Consumer Goods
Founded 1984
Headquarters Mumbai, India
Area Served Worldwide
Key People Prakash Jayantilal Chauhan (Chairman &
MD)
Schauna Chauhan (CEO)
Alisha Chauhan (Director)
Nadia Chauhan (Director)
Products Frooti
Appy
Bailley
Frio Cola
Frio Orange
Frio Lemmon
Dhishoom
Revenue 2800 Crore (2017)
Number Of Employees 5000
Website http://www.parleagro.com/
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B) United Spirits Limited
United Spirits Limited
Type Public
Traded As BSE: 532432
NSE: MCDOWELL-N
Industry Beverages
Founded 1826
Headquarters UB Tower, No 24, Vittal Mallya Road,
Bangalore, Karnataka, India
Area Served Worldwide
Key People Hina Nagarajan (MD & CEO)
Products Alcoholic Beverages: Spirits, Beer &
Wine
Revenue 9347 Crore (2020)
Number Of Employees 3382 (2020)
Website https://www.diageoindia.com/
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2.1) COMPANY HISTORY
A) Parle Agro Private Limited
PARLE AGRO is a trusted name in the Indian beverage industry and has been
refreshing India since more than two decades with leading brands like Frooti, Apply
Classic, Apply Fizz, Bailley, Saint Juice, and LMN & recently launched Grappo Fizz.
Parle Agro Pvt., Ltd. manufactures, distributes, sells, and exports fruit drinks in India
and internationally. The company offers fruit and milk drinks, packaged water, and
apple and mango drinks in polyethylene terephthalate (PET) bottles and containers, and
tetra packs. The company also operates a health and fitness studio for woman. The
company distributes its products through franchisees. Parle Agro Pvt., Ltd. was founded
in 1985 and is based in Mumbai, India. Parle Agro has been a trusted name in the
beverage industry providing wholesome and healthy agro-based drink brands. It has
successfully launched some of India’s leading beverages like Frooti, Appy and N-Joi,
and packaged drinking water, Bailey, over the last two decades. In a country where
health consciousness is growing at a rapid pace, Parle Agro, with its numerous fruit-
based drinks, has struck a chord with the masses. It brings to the consumers the magic
of premium quality fresh fruit drinks conveniently packed and available all through the
year. Fruit beverages are whole some, easy to digest, highly refreshing with natural
nutritional values as compared to synthetic and aerated drinks. Parle Argo’s Frooti is
India's first national mango drink. The mango segment is 95% of the Indian fruit drink
market and Frooti has 85% market share in the tetra pack segment. Made from fresh
and premium Indian mangoes, Frooti has grown to be one of India's top 50 most trusted
brands. When Parle Agro launched N-Joi with real fruits and fresh milk, it not only
launched a new healthy beverage, but also created a whole new category in India. The
milk shake claims to contain no preservatives and is full of nutritional goodness. It's a
delicious filler and an apt quick refreshing nourishment for today'shecticstressfullife.
Parle Agro is an offshoot of Parle Products, which was founded in 1929 in British India.
It was owned by the Chauhan family of Vile Parle, Mumbai. The original Parle
Company was split into three separate companies owned by the different factions of the
original Chauhan family:
Parle Products, led by Vijay, Sharad and Raj Chauhan (owner of the brands Parle-G,
Melody, Mango Bite, Poppins, Kismi Toffee Bar, Monaco and Krack Jack)
Parle Agro, led by Prakash Chauhan and his daughters (owner of the brands such
as Frooti and Appy)
Parle Bisleri, led by Ramesh Chauhan
All three companies continue to use the family trademark name "Parle".
Parle Agro commenced operations in 1984. It started with beverages, and later
diversified into bottled water (1993), plastic packaging (1996) and confectionery
(2007). Frooti, the first product rolled out of Parle Agro in 1985, became the largest
selling mango drink in India.
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The original Parle group was amicably segregated into three non-competing businesses.
But a dispute over the use of "Parle" brand arose, when Parle Agro diversified into the
confectionery business, thus becoming a competitor to Parle Products. In February
2008, Parle Products sued Parle Agro for using the brand Parle for competing
confectionery products. Later, Parle Agro launched its confectionery products under a
new design which did not include the Parle brand name. In 2009, the Bombay High
Court ruled that Parle Agro can sell its confectionery brands under the brand name
"Parle" or "Parle Confi" on condition that it clearly specifies that its products belong to
a separate company, which has no relationship with Parle Products.
Parle Agro brands
Parle Agro Pvt. Ltd operates under three major business verticals:
Beverages – fruit drinks, nectars, juice, sparkling drinks
Water – packaged drinking water
Foods – confectionery, snacks
Parle Agro also diversified into production of PET preforms (semi-finished bottles) in
1996. Its customers include companies in the beverages, edible oil, confectionery and
pharmaceutical segments.
Parle Agro, a pioneer in the Indian beverage industry, has been creating innovative
products and iconic brands since 1985
Headquartered in Mumbai, with over 4000 employees, Parle Agro is the largest Indian
beverage company.
Our strength lies in establishing new categories, building brands and capturing market
share within those categories. Our bevy of brands include Frooti, Appy, Appy Fizz,
Bailley, Bailley Soda, Dhishoom and Frio.
Being the fastest-growing beverage company, we continue to aggressively adopt new
strategies and innovative initiatives in order to connect with our consumers. A large
part of our growth strategy is driven by sales and distribution and our manufacturing
capabilities. Today we are a network of 84 state-of-the-art manufacturing facilities and
we retail our products across 1.8 million outlets through a network of 5000+ Channel
Partners along with an international presence in over 50 countries
We have always been passionate about building our own brands. We like to create, and
we like to nurture what we create. Fueled by innovation that is engrained in the business
DNA, our focus and vision is making Parle Agro, the No.1 beverage company in India.
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COMPANY VISIT PICTURES
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B) United Spirits Limited
United Spirits Limited, abbreviated to USL, is an Indian alcoholic
beverages company, and the world's second-largest spirits company by volume. It is a
subsidiary of Diageo, and headquartered at UB Tower in Bangalore, Karnataka. USL
exports its products to over 37 countries.
According to the official website of the company, as of March 2013, USL has more
than 140 liquor brands, of which 15 brands each sell more than one million cases
annually while 3 brands each sell more than 10 million cases annually.
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2.2) MISSION & VISION OF ORGANIZATION
We like to create, and we like to nurture what we create. Fueled by innovation that
is engrained in the business DNA, our focus and vision is making Parle Agro, the No.
1 beverage company in India.
Marketing philosophy that reflects the needs of the Indian masses with value-for-money
positioning.
Vision: To be the leaders in their business domain.
Mission: Maintaining high quality, introducing new and innovative products, reaching
every part of India, remaining customer-centric, constantly upgrading our knowledge
and skills.
“To be the most admired global leader in the spirits industry by creating unique high-
quality brands for consumers, driven by highly motivated employees and supported by
best-in-class processes and continued innovations. United Spirits is and will continue
to be responsible towards its stakeholders and the society”
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2.3) PRODUCTS OF COMPANY
A) Parle Agro Private Limited
Parle Agro Pvt. Ltd operates under three major business verticals:
Appy
Appy Classic was launched in 1986 as an apple nectar and originally available
in a white Tetra Pak packaging with an apple and leaf graphic. As of 2011, it
comes in black Tetra Pak packaging. It was the first apple nectar to be launched in India.
Appy Fizz
Launched in 2005, Appy Fizz is India's first sparkling apple drink available in a
champagne shaped PET bottle.
Saint Juice
Launched in 2008, Saint Juice is available in three variants – Orange, Mixed fruit,
Grape and Apple. At the time of its launch, its USP was "100% juice with no added
color, sugar or preservatives".
LMN
LMN was launched in March 2009, as non-carbonated lemon drink (nimbu paani or
lemonade).
Grappo Fizz
Launched in 2008, Grappo Fizz is a sparkling grape juice drink. Grappo Fizz is along
the lines of Parle Agro's existing product Appy Fizz.
Dhishoom
In 2012, Parle Agro launched India's first Jeera Masala Soda,
Dhishoom.
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Frio
Frio is a range of flavored carbonated drinks. It is currently available in 3 flavours -
Lemon, Orange, and Cola.
Cafe Cuba
Launched on 19 May 2013, it is a new product and first of its kind; Cafe Cuba is a
carbonated Cuban coffee, more of a bottled Espresso.
Flavour: Strong Coffee with little sugar.
Bailley Soda
Launched in 2010. Bailley Soda has its packaging theme inspired by military colours
and also the bottles are shaped like grenade.
Frooti Fizz
Launched in March 2017, Frooti Fizz is a sparkling mango juice
drink. Bollywood actress Alia Bhatt has signed a deal with Parle Agro to endorse the
product. Frooti Fizz is available in 250ml PET bottle, 500ml PET bottle and 250ml
can.
Water
Parle Agro have launched Bailley packaged drinking water.
It has also introduced pouches of drinking water.
Food
Confectionary
Mintrox mints (launched in 2008), hard mint sweets available in 2
flavours.
Buttercup sweets (launched in 2008), hard boiled sweets.
Buttercup Softease, a toffee available in 4 flavours.
Softease Mithai, a toffee available in 3 flavours.
Kaccha Aam, a toffee.
Snacks
Hippo (launched in 2008), baked snack available in six flavours.
Hippo Namkeens, is an assortment of traditional snacks from various parts of India.
Hippo Namkeens is now available in a range of seven traditional Indian snacks: Aloo
Bhujia, Chana Dal, Moong Dal, Sev Bhujia, Masala Peanuts, Khatta Meetha, and
Navratan Mixture.
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B) United Spirits Limited
USL manufactures Scotch whisky, Indian whisky, brandy, rum, vodka, gin and wine.
Indian whisky
Antiquity
Bagpiper
McDowell's No.1
McDowell's No.1 Platinum
McDowell's Single Malt
Royal Challenge
Signature
Scotch whisky
Black Dog
Wine
Bouvet Ladubay
Four Seasons
Vodka
Pinky
Romanov
Vladivar
White Mischief
Brandy
Honey Bee
McDowell's VSOP
Rum
Blue Riband
Beer
Kingfisher
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2.4) ORGANZATION CHART
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B) United Spirits Limited
Mr. Sanjeev
Mr. Avinash Ganesh
Deoskar (Executive
(Vice President) Vice
President)
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CHAPTER-3
RESEARCH METHODOLOGY
After visiting Parle Agro private limited for 2-3 days, I visited this
company to get primary data but I could not get much data due to increasing corona
virus infection.
I also visited the United Spirits Limited Company for the purpose of
collecting Primary data on the search of Human Resource Management Functions in
the respective Organization from the Human Resource Department. I visited this
company to get primary data but I could not get much data due to increasing corona
virus infection.
I have collect this data from various sites on internet related to Human
Resource Management Functions in Parle Agro Pvt Ltd. Collect this secondary data
from their official website, www.parleagro.com.
I have also collect this data from various sites on internet related to Human Resource
Management Functions in United Spirits Limited. Collect this secondary data from
their official website, https://www.diageoindia.com/.
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CHAPTER-4
DATA ANALYSIS
The HRM functions are not only limited to business organizations but all other types
of organizations. These may include, service, manufacturing, financial, charitable and
so forth. This is comprehensively understood that when the human resources, employed
in various types of organizations will make use of their skills and abilities, they will be
able to render a significant contribution in performing all tasks and activities in a well-
organized manner and generating the desired outcomes. It is entirely on the part of the
human resources to augment their knowledge and abilities, so they can contribute
diligently and conscientiously towards the attainment of organizational goals.
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provides feedback to the employees about their performance,
minimizes energy expenditure and force requirements,
Balances static and dynamic work.
Job design is an ongoing process. The goal is to make adjustments as conditions or tasks
change within the workplace.
A well-defined job will make the job interesting and satisfying for the employee.
The result is increased performance and productivity. If a job fails to appear compelling
or interesting and leads to employee dissatisfaction, it means the job has to be
redesigned based upon the feedback from the employees.
Broadly speaking, the various factors that affect a job design can be classified under
three heads.
They are:
1. Organizational Factors
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2. Environmental Factors
They include factors like employee skills and abilities, their availability, and their
socio-economic and cultural prospects.
Employee availability and abilities: Employee skills, abilities, and availability play
a crucial role in designing jobs. The above-mentioned factors of employees who will
perform the job are taken into consideration. Designing a more demanding job and
above their skill set will lead to decreased productivity and employee satisfaction.
Socio-economic and cultural expectations: Jobs are nowadays becoming more
employee-centered rather than process-centered. They are, therefore, designed to keep
the employees into consideration. In addition, the literacy level among the employees
is also on the rise. They now demand jobs that are to their liking and competency and
which they can perform the best.
3. Behavioral Factors
Behavioral factors or human factors pertain to human needs and need to be satisfied to
ensure productivity at the workplace.
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requirement and also create a buffer. To manage surplus, you can consider
voluntary retirement, internal transfers, relocation or redeployment.
B. Implementation Stage
Implementing any strategy from paper to practice is the most challenging and
daunting task. Many organizations fail to deliver when it comes to execution.
Take your managers into confidence to make the implementation process smooth.
Follow one step at a time to absorb and handle any unexpected resistance or
challenge that you may face from employees. Give gradual conditioning to the
execution plan so that your employees get to acclimate to the changes.
Also, ensure that all necessary legal compliances and regulations are taken into
consideration while implementing the Human Resource planning strategy to
avoid any glitches.
COMPENSATION:
In each and every organization people work for to get something in return or they expect
something after completion of their work form employers. We must have heard a
common phrase: give and take. We must always things to people in exchange for what
you give them. Compensation refers to this Exchange, but in monetary terms.
Compensation from the employer an employee feedback for work. It’s just the
monetary value that employers exchange for their employees with the services that
employees provided.
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Human Resource Management defines compensation in these words “employee
compensation refers to all forms of remuneration to workers and arising from their
employment.” The expression ‘all forms of remuneration “in the definition does not
include any non-financial benefits, but all the direct and indirect financial
compensation. (Gary Dessler, 1976)
BENEFITS:
Workers today are not prepared to work just for the money apart from money they
expect some other benefits. This is known as extra employee benefits. Also known as
fringe benefits, employee benefits are non-financial form of compensation offered in
addition to cash salary to employees to enrich life.
What benefits would the company offer to its employees? Problem arises when you
begin to decide what to give to whom and on what basis? Employee benefits are not
performance-based, they are membership-based. Workers receive benefits regardless
of their performances. Employee benefits as a whole have no direct influence on the
performance of employee, however, insufficient benefits contribute to the satisfaction
of the low level and absenteeism and turnover in workers increase. (DeCenzo and
Robbins; 2007). So would you must carefully design your benefit package. Your
package contains a cell phone to each employee, with them to a training workshop or
seminar, giving them a day or two off every month and so on. While the decision on
the package of benefits, the associated costs.
A well-designed compensation and benefits plan helps attract motivate and retain talent
in the company. A well-designed compensation & benefits plan will benefit in the
following ways.
1. Job satisfaction: your staff would be happy with their work and would like to work
for you if they honestly rewards in exchange for their services.
2. Motivation: We all have different types of needs. Some of us want money, so they
work for the company making them higher wages. Some value reach more than money,
she would join companies that have greater chances of promotion, learning and
development. A compensation plan that affects workers needs is more likely to give
them the way you want to act to motivate.
3. Low absenteeism: why would anyone want to skip the day and watch favorite TV
program at the home, if someone really enjoy the work at the office or company’s
environment and satisfied with their salaries and get what they want and need?
4. Low turnover: would someone or any staff want to work for other organization if
your company offers them fair rewards. The rewards which they thought they deserved.
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4. UNION MANAGEMENT RELATIONS
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HRM FUNCTIONS IN UNITED SPIRITS LIMITED
1) STAFFING
United Spirits Ltd (USL), majority owned by British liquor major Diageo, will do away
with 300 jobs by making these roles redundant and by removing under-performers as
part of a restructuring exercise in the company.
USL, India’s largest spirits maker, has around 5,000 people on its rolls and an equal
number with its partners across the country. The job rationalization was announced by
chief executive officer Anand Kripalu at a town hall meeting with employees on
Wednesday.
USL stated that the restructuring was aimed at aligning resources to meet its goals of
becoming a trusted and respected consumer goods company.
“They are making changes to their structure and the way they work, which will simplify
their business in pursuit of becoming the best-performing, most-trusted and respected
consumer goods company in the world. Wherever possible, resources and decision-
making will be closer to customers and consumers enhancing our responsiveness and
agility,” a USL spokesperson stated. “Any saving that occurs from these changes will
be re-invested in growth opportunities for our business and brands.”
“They have added 160 new posts that were not there previously. They have also shed
roles that are irrelevant in today's environment,” said Steve Correa, executive vice-
president and head of human resources at Diageo United Spirits, in an interview last
month.
Training and Development is one of the most important functions of Human Resource
management in any of the organization. The objective of this Training is to enhance
employees’ skills behavior and expertise by putting them into learning new techniques
of doing work.
Employee Training and Development helps in updating employees’ skills and
knowledge for performing a Job which at the end results in increasing their work
efficiency and increase the productivity of an organization. It ensures that Employees
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oddness or eccentricity is reduced and learning or behavioral change should take place
in a very structured format. Training development or learning and development are
official ongoing educational activities designed for goal fulfillment and enhance the
performance of employees. In United Spirits Limited training & development Program
conducted by HR team once in a weak. 15-20 members training program conducted at
a time due Increasing Covid Patients in Maharashtra. The activities linked with
employee Training & Development is created to convey the employee to perform better
in assigned job which also motivate employee to give his/her best so that at the time
of performance appraisal, employee can show the eligibility
for promotion and salary increment.
3) HR COMPLIANCE
CSR Policy
The Company will undertake CSR activities through targeted interventions in the
following key areas:
• Ensuring environmental sustainability, ecological balance, protection of flora and
fauna, animal welfare, agroforestry, conservation of natural resources and maintaining
of quality of soil, air and water.
• Enhancing capacity of communities, especially the vulnerable sections, to undertake
productive economic activities, by way of vocational skilling and building life skills.
• Education and awareness initiatives focusing on life skills development.
• Any other activity, in alignment with Schedule VII of the Companies Act, 2013 and
the CSR Rules, as may be decided from time to time.
• The Company will also ensure compliance with all other provisions of the applicable
laws with respect to selection of area of CSR activity.
Remuneration & Reward Policy
Applicability & Exclusions
a) Applicable from April 1, 2014.
b) All executive employees on the payroll of the Company and its subsidiaries from
Grade O02/ S02 and above (including ‘key managerial personnel’, such as the chief
executive officer, chief financial officer, manager and other personnel as defined under
the Companies Act, 2013), all secretary cadre of employees on the payroll of the
Company and its subsidiaries from the Grade P02 to P06 and all staff cadre employees
on the payroll of the Company and its subsidiaries of Grades A, B, C and H or such
other grade of employees as may be prescribed from time to time.
c) Managing/ Executive/ Whole Time Director remuneration though governed by the
same principles and compensation components as applicable to their grade,
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remuneration change approval by way of salary, perquisites, benefits etc. will be
decided in accordance with the provisions of the Companies Act, 2013 and the Listing
Agreement by the Nomination and Remuneration Committee
d) In case of remuneration to non-executive directors by way of commission etc., the
same shall comply with the applicable provisions of the Companies Act, 2013 and the
Listing Agreement.
e) The remuneration to the Managing Committee members and employees directly
reporting to the Managing Committee and other employees shall be approved by the
Executive Committee/Managing Director in terms of this Reward Policy.
Pf (Provident Funds)
Both Provident Funds and HR compliance are significant parts of each other. Provident
Fund consists of the money saved throughout the working years of an employee.
Provision of the Provident Fund ensures income when the employee retires from his
job. If the employee, unfortunately, meets early death, the PF gets passed on to his/her
family.
Employee Contribution - 12% of salary
Employer Contribution - The contributions are segregated into:
o 3.67% into Employees’ Provident Fund Scheme (EPF)
o 8.33% into Employees’ Pension Scheme (EPS)
o 0.5% into Employees’ Deposit Linked Insurance Scheme (EDLIS)
o 0.5% for EPF Administrative Charges (w.e.f 01/06/2018)
Total: - 13%
Professional Tax
Due date for PT is last Date for the Next Month
Example
PT of Nov-2021 we paid it in Dec-2021 (Till 31st Dec)
PT Slab
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Monthly Salary Monthly Tax Rate
Rs.7,501 to Rs.175
Rs.10,000*
4) PAYROLL
Payroll is a list of employees who get paid by the company. Payroll also refers to the
total amount of money employer pays to the employees. As a business function, it
involves:
6. Depositing dues like TDS, PF, etc. with appropriate authorities and filing
In short, we can say that payroll process involves arriving at what is due to the
employees also called as ‘net pay’ after adjusting necessary taxes and other deductions.
Where,
Gross income or salary = All types of regular income + allowances + any one-time
payment or benefit
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Gross deduction = All types of regular deductions + statutory deductions + any one-
time deductions
In the above way Payroll Process is to be done in the United Spirits Limited Company
of the Workmen.
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CHAPTER-5
CONCLUSIONS
36
CHAPTER-6
BIBLIOGRAPHY
https://www.parleagro.com/
https://www.diageoindia.com/
https://en.wikipedia.org/wiki/Main_Page
https://www.greythr.com/complete-guide-payroll/
https://www.vskills.in/certification/blog/what-is-the-role-of-hr-
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