COMPENSATION OF DIFFERENT COMPANIES
BY: GROUP 10 {OLS} FIONA SHAMBHAVI
PRAPOORNA SHREY SWARNIKA VISHNU
1
Evolution of NTPC
1975
1997
NATIONAL THERMAL POWER CORPORATION WAS BORN
GRANTED “NAVRATNA”
Status
2004
2005
NTPC BECOMES A LISTED COMPANY
•NTPC- VINDHYACHAL PROJECT (3260MW) which is presently largest capacity power plant. NTPC- VSTPP is Power Station
nation’s
THE COMPANY BECOMES NTPC LIMITED India’s
largest Thermal
•NTPC VINDHYACHAL has been rated as one of the best place for work in entire NTPC PLANTS.
•According to the survey NTPC is rated as “Great
places to work for” “ Best company to work for”
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3
COMPENSATION STRATEGY OF NTPC Pay Scales of Executives Scale Code
E2 E2A
Pay Scale (Rs.)
24900-50500
Representative Designation Executive Trainee/S rainee/Srr. Astt. Engineer
24900-50500
Engineer/Officer
29100-54500 29100-545 00
Senior Engineer Engineer/Sr /Sr.. Officer
32900-58000
Deputy Manager
36600-62000
Manager/DCDE /Supdt.
43200-66000
Senior Manager
51300-73000
Deputy General Manager
51300-73000
Addl. General Manager
E8
51300-73000
General Manager
E9
62000-80000
Executive Director
E3 E4 E5 E6 E7 E7A
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PAY SCALES FOR NON- EXECUTIVES(WORKMEN) SOURCE
PAW10Y SCALE
DESINATION
W3
11500-26000
Jr.Operator/Jr.Technicia Jr.Operator/Jr.Technician/ n/ Artisan/Jr. Artis an/Jr. Draughtsman/ Draughtsm an/ Jr. Jr. Assistant/Cook.Operator
W4
12500-27500
Gr.IV/T Gr.IV/Technician echnician Gr.IV/Draughtsman Gr.IV/ Assistant Gr.IV/Steno-Typist Gr.IV/Steno-Typist
W5
135800-29500
. Gr.III/Technici Gr.III/Technician an Gr. Ill/Draughtsma Ill/Dr aughtsman n Gr.III/ Assistant Gr. Ill/Stenographer Ill/Stenographer
W6
14500-32000
Operator Gr.II/T Gr.II/Technician echnician Gr.II/Draughts Gr.II/Draughtsman man Gr.II/ Assistant Gr.II/Sr. Gr.II/Sr. Stenographer Stenographer.
W7
15500-34500
Operator Gr.I/Technici Gr.I/Technician an Gr.I/ Draughtman Draughtm an Gr.I/Asstt. Gr.I
W8
16000-35500
Sr. Sr. Technician/Sr .Draughtsman Sr.Assistant. Sr.Assistant.
W9
17000-37000
Master Technician Gr.II
W10
18500-40000
Master Technician echnici an Gr.I
W11 W11
20000-42500 SUB- Engineer
5
Allowances / Reimbursement / Benefits
DA allowance:
increases increases in quarterly basis on basic salary , JAN, APRIL APRI L , JULY, JULY, OCT. OCT.
Other PRE & ALLOWANCES INCREMENT :
: Approach followed is CAFÉ – CEIATIA. It is 47% of the basic.
6% of the basic pay of employee. Data of increment : employees appointed and promoted b/w 1 JAN - 31 MARCH STANDARD DATE IS 1 JANUARY If employees appointed and promoted b/w 1 April – 30 June Date of increment is 1 APRIL . If employees appointed and promoted b/w 1 July – 30 Sep Date of increment is 1 JULY JULY . If employees appointed and promoted b/w 1 Oct – 30 Dec Date of increment is 1 OCTOBER OCTOBER .
: (started from 26 Nov 2008) provided to working in the organization , 25% of their basic salary. salary.
Non performing allowances
Doctors
: employees working in project/ station they get compensation of 10% of their basic salary.
Field compensation
: CL CL-12, -12, HPL – 20 EL- 30, along with leave Encashment facility. Closed Holidays – 8, Restricted Holidays – 06 Paid Leave
Education facility service .
:Study leave up to a period of 3 years after 3 years of
Medical facility :
Very liberal medical facilities without any contributions. Reimbursement Reimbursement of OPD & hospitalization hospitalization charges. Number of good good hospitals, including super specialty hospitals on the Company’s panel.
OPD
MBBS
80
4 VISITS
MD
200
4 VISITS
7
HOSPITALIZATION CHARGES GRADE W8 – E2
520/-
E2A – E4
840/-
E5 – E7
1000/-
E8 - E9
1250/-
Well Well equipped hospitals at projects with state of the art facilities and equipments.
NORTH EAST ALLOWANCE : 12.5% of their basic salary COAL MINE SITE ALLOWANCE :15% of their basic salary 8
HRA COMPONENT : • is given to only those people who is not provided house by the company . Range is
•
A1
METRO
30% BS
B1
PRIME CITIES
20% BS
C1
LOCAL CITIES
10% BS
ACCOMODATION ACCOMODATION given to employees
A TYPE QUARTERS
W3-W7
B TYPE QUARTERS
W8-W11 W8-W11
C TYPE QUARTERS
E1-E4
D TYPE QUARTERS
E5-E7 9
TRAVELLI TRAVELLING NG ALLOWANCE TRAVELLING RAILS/ ALLOWANCES GRADE AIR
ROADS
L OCAL LOCAL
E5 AND ABOVE
AC-1/2 TIER AIR-BUSINESS CLASS
ACTUAL TAXI TAXI ACTUAL TAXI TAXI FARE FARE
E3- E4
AC-1/2 TIER AIR-ECONOMY CLASS
ACTUAL TAXI TAXI FARE BUT THE RATE Rs 6.10 /km
E2 A GRADE
AC-1/2 TIER AIR-ECONOMY CLASS
TAXI 2.30/KM ACTUAL OR ACTUAL AUTO FARE FARE BUS FARE OR A SHARING TAXI FOR Rs 2.30 /KM
E2 –W8
SECOND AC
SHARING TAXI FOR Rs 1.20
ACTUAL TAXI TAXI FARE BUT THE RATE Rs 6.10 /km
SHARING TAXI FOR Rs 1.20 10
DAILY ALLOWANCES
CATEGORY
METRO CITY
PRINCIPLE CITY
ORDINARY CITY
E9
14000
11000
8800
E7-E8
9800
7700
6160
E5-E6
5600
4400
3500
E3-E4
4200
3300
2600
E1-E2A
3100
2500
2000
W8- ABOVE
1700
1350
1000
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Advances
[At low rates of Simple Interest-reducing balance method) HBA
Maximum of 7.5 lacs, after 5 years of service Conveyance Advance Car advance – Max Rs.250000/- (as per today’s price) Motor Cycle – Max. Rs. 35000/- structure) PC Advance –
Rs.40,000/-
Multipurpose Loan Furniture Loan –
- Rs.11,225/- p.a. p. a.,, interest free.
Rs.15,000/-, interest free.
Education loan – Max 1000000/-
Social Security/Insurance Benefits Coverage under:
•Group Personal Accident insurance •Group Insurance •Housing Building Advance Insurance
(with very nominal
contributions by self) •Pension Fund. Accommodation Full fledged, excellently maintained township amidst lush green environment with all facilities like clubs, recreation centers, movie theatres, marketing complexes, parks etc. to ensure a superior quality of life.
Education Of Children Schools of repute like DPS, Kendriya Vidyalaya, Vidyalaya, DAV and other convent schools upto Class XII to ensure education standards for children- 50% fee provided by NTPC
HYPERLINKS C:\Users\swarnika\Downloads\Payslipads\Payslip• C:\Users\swarnika\Downlo 101163-082012.pdf • C:\Users\swarnika\Downlo C:\Users\swarnika\Downloads\paysip\w11. ads\paysip\w11. pdf
C:\Users\swarnika\Downloads\paysip\W3 ads\paysip\W3.. • C:\Users\swarnika\Downlo pdf C:\Users\swarnika\Downloads\paysip\e7.p ads\paysip\e7.p • C:\Users\swarnika\Downlo df
RESPONSIBILY RESPONSIBILY OF EXECUTIVES
FINANCE OFFICE OFFICER R E2A
ASST.. GEN MANAGER E7 ASST
Check
and pays the store billsequipment, oil, cement, steel that is required for construction and production
Monitors
Maintains
Facilitates
companies VSTPP’S balance-sheet, profit and loss accounts, quarterly audits
the work of the sub-ordinates
Co-ordinates
inter/intra department
the work flow
Concurrence
of financial data
Coal payment.
Water
charges
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Jindal steel And Power • Established in 1952 • Based In New Delhi • Current Chairman Is Mr Naveen Jindal
Organisation Organisation Structure • Two categories Of Employees, • White Collar Employees • Blue Collar Employees • Blue collar employees Are Outsourced • Their Salaries Are Paid By The Contractor Who Employs Them • These Are Not Available For Disclosure
• White Collar Employees Are Graded Into several Grades • The Pay Structure Is Job Based • The Salaries Are Incremental In Serial Manner • The Basic Break Up Of The salaries Is Constant • Salary Calculator-salary Calculator-salary calculation on excel.xlsx
• Job DescriptionKRA DescriptionKRA Format 2012-13 rev TO PRIYA.docx • The Following Are The subordinates who report to him- 2 junior managers, 1 assistant assistant engineer, engineer, 2-3 foremen, 20 workers • The seniors are 1 deputy manager, 1 assistant general manager, 1, senior Deputy General Manager, 1 senior general manager • Total Number Of Levels In The hierarchy is 7
Adhunik Power Limited Limited
• The Company Is Again Divided Into 2 categories, namelyWhite And Blue Collar Employees • The Salary Of The White collar Employees Is Available • The Blue collar Employees Are Outsourced To A Contractor- Salaries Are Kept Confidential And Not Available Available With The White Collar Collar Employees Employees
• The Pay Slip Of An Employee • 00302133'.pdf • neuer anfangen.xlsx • The Components Of The salary are constant for all white collar employees, only the total compensation changes • The Job description of The Senior engineer is as follows(Hyperlink)
Similarities in these two companies • These two companies in the private sector- similar pay strategies • Job rather than person based • Heirarchical Heirarchical rather than egalitarian(possibly due to expanding nature of business) • Tailored rather than loosely coupled(less innovation)
DIFFERENCE IN COMPENSATION STRATEGIES PUBLIC SECTOR
PRIVATE PRIVA TE SECTORS
NTPC
Adhunik Power Limited, Jindal steel And Power
•Long hierarchical structural
• Hierarchal is small, delayer
•Basic pay for each level in fixed and other allances and bonus depends on % of basic pay
The
Job
components of salary structure is
fixed.
evaluation method used is CLASSIFICATION and person-based structures
Job evaluation method used is RANKING (paired comparison)
More
• Less of allowance
of prek, allowances and benefits
•Most of the allowances are fixed under •Its based on annual tax budget the policy of the organization • It follows both MERIT and
•It mainly focus on INCENTIVE base
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•More focus on WORK- LIFE BALANCE
KEY
OBJECTIVE is PROFIT MAXIMIZATION
• PROMOTION is time bound.
t ime in •It can happen at any point of time financial year.
•Special pay on case of duty on government holiday i.e double the basic pay only for workmen : executives will get holiday only.
•No such provision.
•Facility of half pay leave and can be encash after it reaches to 300
•No such scheme
Restricted
holidays for people of designated community- 6 days /year
•No such provision.
•Special allowances for motivating and encouraging worker to work in the given condition
• No such allowance.
•Monthly increments
•Yearly increment
Almost equal amount of fixed and • Almost variable pay.
•More on variable pay. 25
Conclusion of analysis Hence for healthy competition, high incentives and for high recognition, fast career growth the compensation structure of PRIVATE sector is more efficient.
For good working culture, job security, work-life balance , equal- opportunity of career success the compensation compensation structure of PUBLIC sector is more efficient.
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