summer training project report on provident fund and pension scheme

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<p>INTRODUCTION</p> <p>[1]</p> <p>CHAPTER: -1 1.1 INTRODUCTIONIn this project I had done the field work on MAHARAJA WHITELINE INDUSTRIES LIMITED just to understand the working condition of an organization at MWIL there were three departments one was of the production department, marketing department &amp;HR department... In this project I have done my training on HR department .My main aim is to learn trends and technique .Human resources is one of important part for the growth of industrial organization. For growth of industry .Industry must take care of human aspect .HR plays a vital role in controlling the human aspect.</p> <p>1.2 COMPANY PROFILEMaharaja Whiteline Industries Ltd. Is an Indian based consumer products manufacture company. Maharaja Whiteline has over 30 yrs. of Experience in the home appliances market and is known for being an innovator and market leader in the Indian consumer manufacturing sectors. Maharaja Whiteline, Indias most trusted family brand is back with its new range of products. Whiteline started its foray into home appliances in 1976. The company commenced its venture as a one product company. Today Maharaja dominates a share of about 22% in home appliances with a product range of over 60 products in 18 product categories. The company has already sold off billions of kitchen appliances in the past 3 decades. Behind this successful story is vision of Harish Kumar, Managing Director, Maharaja Whiteline Group, a dynamic and a self motivated first generation entrepreneur.</p> <p>[2]</p> <p>Harish Kumar</p> <p>Maharaja Whiteline started its operations in 1976 and now the company enjoys the undisputed leadership position in Indian Appliance industry. In addition to this,today the Maharaja employs over 1000 qualified &amp; professional work force, ready to take up the challenges of the new millennium and build the company into a global appliance leader. The company has a huge Manufacturing infrastructure base with a plant in Baddi (HP).</p> <p>Recently, Maharaja has acquired Gem and Beltek, and has diversified its range into the consumer durable industry the company is soon launching a range of sealing fans and office accessories. In near future, Maharaja Whiteline plans to export its products in the SAARC countries.</p> <p>1.3 EMPLOYEE PROFILE</p> <p>[3]</p> <p>The Corporation's employee strength as on January 1, 2012 was over 1500. There are 310 women employees. Maharaja Whiteline unique work culture is based on trust, openness and a commitment to creativity and consultation. The organization identifies each and every one of its employees as an achiever who will make a difference. The experience and the knowledge gained by its people in building this mammoth organization.</p> <p>1.4 ENTREPRENEURIAL CULTUREMaharaja White line Appliances encourages employee participation in management and suitably rewards innovative suggestions. Participative forums in the form of joint management councils, quality circles, suggestions scheme, etc. enrich its work culture.</p> <p>1.4.1Career growth opportunities:MAHARAJA WHITELEINE inducts officers at the junior-most level of the management hierarchy. First division professional degree holders and postgraduates from relevant disciplines are recruited as management / engineer trainees, accounts officers, sales officers, purchase officers, production officers, quality officers, etc. Job rotation and inter-location transfers throughout the country facilitate planned development of careers and broaden outlook. Career growth opportunities are based on the individual's performance and contribution to the common goal of sustained growth. Maharaja Whiteline top executives have grown from within -- a testimony to the unlimited opportunities for growth available to the meritorious.</p> <p>1.4.2 Welfare of employees:[4]</p> <p>Apart from attractive scales and perks, Maharaja Whiteline Appliances provides its employees many facilities and welfare measures which are continuously upgraded. The medical insurance facilities provided to every employee.</p> <p>1.5 CORPORATE VISIONTo Reach Every Indian Household With White Goods And Home Appliances.</p> <p>1.6 CORPORATE MISSIONWe are a group committed to produce the Highest Quality and Best Value Appliances and White Goods. To achieve this, we constantly endeavor to exceed our customers expectations. In doing so we shall build enduring, long-term relationships with all our stakeholders. [5]</p> <p>1.7 THE MANAGEMENT1.7.1 Board of directors:-</p> <p>Mr. Harish Kumar Mr. Ravi Mehra Mr. Ramesh Gaur</p> <p>1.7.2General Managers:</p> <p>Mr. Rakesh Bhalls (GM Sales) Mr. Rahul Bhatia (GM Purchase) Mr. G M Bomhra (GM Operation) [6]</p> <p>Mr. G S Kanwal(GM R&amp;D)</p> <p>1.8 THE COMPANYS MAJOR UNITSHead office: 1/7 West Patel Nagar, New Delhi</p> <p>Manufacturing unit:Plot no. 5-6, Industrial Area Baddi Distt. Solan, HP</p> <p>Branch offices: A-166, Subash Nagar Shopping Centre Jaipur, Rajasthan E-A-1/10, Transport Nagar, Kanpur Road, Lucknow (UP) 38, Harbans Nagar, Meerut Road Ghaziabad (UP) Plot No 21, 23 &amp; 26 Mohabawala Industrial Area, Mohabewala,</p> <p>Dehradoon,</p> <p>Uttranchal 2759, Gurdev Nagar, Ludhiana, Punjab Vidyawati Building., G.T. Road. Kundli, Haryana Panchal Compund, Behind Betala Force Lasudia Morie, Dewas Naka,</p> <p>Indore (M.P.) 229 B, Srikrishna Puri, Boring Road Patna, Bihar [7]</p> <p>Old no-6, Senfunther Street Shenoy Nagar, Chennai (T.N.)</p> <p> BC-32, Sec.-01, Salt Lake, Kolkata 64 West Bengal Plot No 892, Palasuni Chhack, Opp Canal Road Palasuni, Bhubaneswar -10, Orissa IInd Floor, Patkar Bldg., Above Samant Diary, Kelkar Road, Dombivali (E), Maharasthra Narnarayan Estate, Near Mahaluxmi Textiles Mills, Ishnpur Narnol Road, Narnol Ahemdabad Gujarat 33-16-30 A, Ramanandhan Street, Kasturibaipet, Vijaywada. AP No.-06, 07th Cross, Old Guddadahalli, Bangalore 26 Karnataka</p> <p>[8]</p> <p>1.9 DISTRIBUTION NETWORK Clearing and Forwarding agents - 15 A strong sales force of over 400 people. 400 Distributors and Stockiest 16000- Retailers and Dealers</p> <p>1.10 DIVISIONS AND ORGANIZATIONThe company comprises of following divisions: Appliances Division White Goods Division</p> <p>1.11 FIRSTS TO ITS CREDITS / ACHIEVEMENTS 1st company to launch 3 Jar Mixer. 1st company to launch Juicer Mixer Grinder. 1st company to launch Dishwasher. 1ST company to launch Halogen Heater</p> <p>1.12 PRESENT CUSTOMER BASE 12 million Mixer Grinders. 6 million Juicer Mixer Grinder. 3 million Electric Iron. [9]</p> <p>[10]</p> <p>1.13 HUMAN RESOURCE AT MAHARAJA WHITELINE APPLIANCES1.13.1 Organizational hierarchy</p> <p>Vice President Sales</p> <p>National Sales Manager</p> <p>Regional Sales Manager</p> <p>Branch Manager</p> <p>Areas Sales Manager</p> <p>Sales Officer</p> <p>[11]</p> <p>The above is the hierarchy at Maharaja Whiteline Appliances, Patel Nagar, Head Office. Starting from Sales Officer, the highest job position is of Vice President Sales. Promotions are made in the above sequence only. Recruitment is made from the Naukri.Com and HR Consultant for all the above posts.</p> <p>1.14 GOLDEN EYE VISIONSGolden eye vision is nothing but it is Maharaja Whiteline vision to achieve Prosperity. It is lies on To provide quality, reliability and good value in the products we sell and service and become market leaders in whatever we take up for marketing , To improve our competitiveness by constantly increasing the performance of our manufacturing, development, marketing and administrative functions i.e. price competitiveness. To develop the right relation between the company and all its customers so that the customers needs are met simply and effectively. To be on always dynamics whether markets are good or bad.</p> <p>1.15 QUALITY POLICYThe quality policies made by Maharaja Whiteline are: 1. Continual improving technical as well as self of our team members and service provides through training and awareness. 2. Continual improvement in the effectiveness of our quality management system by way of improvements in all our operation. 3. Providing product relating market feedback to the business unit for continuous product improvement. [12]</p> <p>4. Making service properly available through our service provides and maintaining the progress by our team members.</p> <p>1.16 AFTER SALES-SERVICE ACTIVITIESAfter sales service activities of Maharaja Whiteline are compete with others companies. In the below there are after sales-service activity of some companies.</p> <p>1.16.1 MAHARAJA WHITELINE:The sales service activities by the maharaja whiteline are average in South Delhi. Customers are highly satisfied in some of the market of South Delhi but some of the markets are also very disappointed with the after sales and services facility provided by the Maharaja. Customers lodge their problems into dealers or shop from where customers buy their product. In a quick service by technician of Maharaja solve problems in a short time or time interval. Company also provides the home service i.e. first in first out. If the product is on warranty period than there is no charge require for the service or maintenance, otherwise pay a amount as per the company policy. If any customers is facing problem for delaying the service from the shops, they can lodge their problem into Maharaja Whiteline customer care service provider in the office. My survey report is showing that 62% customer of Maharaja Whiteline user in South Delhi market are satisfied on service provided by Maharaja Whiteline and 43% customers lodge that solve their problem within a week.</p> <p>[13]</p> <p>1.17 COMPETITORS OF MAHARAJA WHITELINE</p> <p>[14]</p> <p>1.18 PRODUCT PROFILEMaharaja Whiteline Industries Ltd. caters to almost all the Home appliances products which are required in normal day-to-day life from morning till night. Some of example are in the sequence of morning to night are :- water heater, tea/coffee maker, ovens, toasters, mixer grinder, food processer, steam &amp; dry irons, air-coolers, heaters, gas stoves, emergency lights, etc. the company sources distribution, more than 16000 Retailers &amp; Distributors for selling mixers and appliances and have service centre to take care of its strong brand and after sales services.</p> <p>Home Appliances:Home Appliances: T.V. Refrigerator Washing Machine Halogen Heater Air Cooler Geysers Vaccum Cleaner A.C. Music System kitchen Appliances: Juicer Mixers Grinder Mixer Grinder Wet Grinder Rice Cooker Food Processors Toasters Hand Blender Cooktop Juice Extractor</p> <p>[15]</p> <p>Iron, DVD Player</p> <p>Microwave Oven</p> <p>1.18.1 MODELS OF MAHARAJA WHITELINE MIXER GRINDERS &amp; FEATURES:</p> <p>SMOOTHIE MAKER JUICER MIXER GRINDER MX 113 - Convienient stir stick - High Low pulse &amp; - Switch off button - Stainless steel blades - Spout to dispense smoothie - Detachable jar - Shock proof ABS body - Thermal overload protection</p> <p>REAL JUICER MIXER GRINDER JX - 207</p> <p>ULTIMATE JUICER MIXER GRINDER JX 205</p> <p>- 450 W heavy duty motor - 2 jars - 1 See through blender jar - 1 stainless steel chutney jar - Shock proof ABS body - Overload preventation mechanism - 30 minutes rating [16]</p> <p>- 450 W heavy duty motor - 4 jars - Online juicer jar - See through blender jar - Shock proof ABS body - Overload preventation mechanism - 30 minutes rating</p> <p>- 1. 8Itr. capacity larger PC smoothie jar - 600 W powerful motor - Circuit breaker</p> <p>- 2 Speed piano switch with pulser</p> <p>NOVA JUICER MIXER GRINDER JX - 204 - 450 W heavy duty motor - 3 jars - Online pulp remover - See through blender jar - Shock proof ABS body - Overload preventation mechanism - 30 minutes rating - With full apple insertion in single time.</p> <p>MARK - I JUICER MIXER GRINDER JX - 201 - 450 W heavy duty motor - 2 jars - See through blender jar - Shock proof ABS body - Overload preventation mechanism - 30 minutes rating - 1 stainless steel chutney jar.</p> <p>[17]</p> <p>1.18.2 MODELS OF MAHARAJA WHITELINE NEW AIR - COOLERS &amp; FEATURES:</p> <p>Bravo -Large 65 Ltr. water tank capacity -Auto Louviers for uniform distribution of air. -Aroma Stick for Fragrance -Base mounted powerful fan for noiseless performance -Rust proof all ABS body -Four way air deflection system</p> <p>Macho -Low Noise -Latest state-of-the-art design -Uniform water distribution -Rust proof all ABS Body -Special Wood wool evaporative pads -Large 45 Ltr. water tank capacity -3 side easy to open side grill</p> <p>[18]</p> <p>Bravo DLX -Large 65 Ltr. water tank capacity -Unique Rotary grill Design for all round air Deflection -Aroma Stick for Fragrance -Base mounted powerful fan for noiseless performance -Latest state-of-the-art design</p> <p>-Large 65 Ltr. water tank capacity -Auto Louviers for uniform distribution of air -Aroma Stick for Fragrance -Base mounted powerful fan for noiseless performance -Latest state-of-the-art design</p> <p>[19]</p> <p>1.18.3 Range of White goods</p> <p>Refrigerator Stainless Top freezer Refrigerator with Internal Dispenser</p> <p>[20]</p> <p>Washing Machine: 8.0kg capacity</p> <p>[21]</p> <p>Easy Movement 100% Rust Proof Body</p> <p>1.18.4 MAHARAJA WHITELINE PRODUCTS:</p> <p>[22]</p> <p>[23]</p> <p>[24]</p> <p>CHOPPER ATTACHMENT</p> <p>[25]</p> <p>FUNCTION OF CHOPPER ATTACHMENT:</p> <p>[26]</p> <p>1.18.5Purchase occasions</p> <p>[27]</p> <p>1.18.6 Exhibition of Maharaja Whiteline in IITF08[28]</p> <p>[29]</p> <p>[30]</p> <p>1.19 CONCEPTUAL FRAMEWORK1.19.1 Provident fundIt is a non-security fund and it is the form of saving. There are mainly four types of provident fund- statutory provident fund, recognized provident fund, unrecognized provident fund and public provident fund.</p> <p>1.19.2 Statutory provident fund: Statutory provident fund was set up in 1925. Government, semi-Government organizations, Local authorities, railways, Universities and Educational Institutions, maintain this fund. In statutory provident fund, contribution from the employer is exempt from tax. Deduction under section 80C of employees contribution is available to the interest credited to the provident fund which is exempt from tax and the lump sum amount which is paid at the time of retirement is also exempt from tax.</p> <p>1.19.3 Recognized provident fund: Recognized provident fund is referred in this manner because it is recognized by the Commissioner of Income Tax according to the rules of the Income Tax Act. When the commissioner of Income Tax recognizes this fund, it becomes recognized also by the provident fund commissioner. Recognized provident fund is also contributed to in the same way as statutory provident fund, i.e. both by the employer and the employee. Contribution of employer &amp; employee &amp; interest are also exempt but upto a certain limit.</p> <p>1.19.4 Unrecognized provident fund: Unrecognized provident fund is Taxable when the employer contributes to it but relief under section 80 is not available to the investor. The interest which is credited to this account is, [31]</p> <p>however, Taxable and the payment which is received in respect of the employees own contribution at the time of retirement is also taxable.</p> <p>1.19.5 Public provident fund:In public provident fund ,the employer does not contributes amount. It is a fund provided for non-salaried people to mobilize personal savings. Any person from the public, whether salaried or sel...</p>

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