205651240-Wage-and-Salary-Administration.doc

7/25/2019 205651240-Wage-and-Salary-Administration.doc

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A STUDY ON

WAGE AND SALARY ADMINISTRATION

(With Special Reference toFACOR ALLOYS LIMITED

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INDE!

C"A#TER $%

INTRODUCTION

NEED FOR THE STUDY

OBJECTIVES OF THE STUDY

SCOPE OF THE STUDY

METHODOLOGY

LIMITATIONS

C"A#TER &%

INDUSTRY PROFILE

COMPANY PROFILE

C"A#TER '%

THEORETICAL FRAME WORK OF THE STUDY

C"A#TER %

ANALYSIS AND INTERPRETATION OF THE STUDY

C"A#TER )%

SUMMARY

FINDINGS

SUGGESTIONS

ANNE!URES

*I*LIOGRA#"Y

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INTRODUCTIONOne of the most important factors in Human Resource Management is Compensation

Management. The soundness of compensation management depends upon the amount of wage or

salary is paid to an employee for a fair days work.

Wage and alary administration refers to the esta!lished and implementation of sound

policies and practices employee compensation. Wage and salary administration is one of the "ital

areas of the personnel administration. #or sound wage and salary policies and programs are

essential. To procure$ maintain$ de"elop$ promote and transfer employees and to get effecti"e

results from them.

%n organi&ation has to !alance fairly financial and non financial rewards e'trinsic

awards. (ffecti"e awards and intrinsic awards. (ffecti"e reward system re)uires not only that the

a!solute le"el of compensation paid !y an organi&ation compares fa"ora!ly !ut also en)uires that

it satisfies the principles of internal e)uity and e)uity with the *o! content. The employees+ gets

pay satisfaction of the percei"ed salary is e)ual to actual salary recei"ed and actual salary is less

than percei"ed salary the employee is dissatisfied with the salary. The remuneration paid !y the

employer for the ser"ices of hourly$ daily$ weekly and fortnightly employees.

The remuneration paid to the clerical and managerial personnel employed on monthly or

annual !asis. ,t is the amount of remuneration for unit of time e'cluding incenti"es$ o"ertime pay

etc. ,s the amount of wage fi'ed for the unit of time fi'ed on the !asis of *o! e"aluation

standards- ,s an assem!ly of all properly e"aluated standard wage rates set from in the se)uence

according to the *o! and si&e of the rate. Refer to compensation gi"en to the employees o"er and

a!o"e wage rates which often is not directly related to output performance of time worked. Refer

to special rates to certain period such as o"er time$ undays and holidays. The o!*ecti"e of wage

and salary administration is numerous and sometimes conflict with each other. Candidates decide

upon their career in a particular organi&ation mostly on the !asis of the amount of remuneration

the organi&ation mostly on the !asis of the amount of remuneration the organi&ation offers

)ualified and competent people *oin the !est paid organi&ation. The organi&ation should aim at

payment of salaries at that le"el where they can attract competent and )ualified people. ,f the


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salary does not present compare fa"ora!le with that of other similar organi&ation. (mployees

)uit the present one and *oin the other organi&ation.

The organi&ation must keep the wage le"els at the competent le"el$ in order to pre"ent

)uite. ,nternal e)uity does mean payment of similar wages for similar *o!s within the

organi&ation. ('ternal e)uity implies payment of similar wages to similar *o!s in compara!le

organi&ation.

To protect in pu!lic as progressi"e employers and to comply with the wage

legislations. To pay according to comply with wage legislations. To pay according to the content

land difficulty of the *o!s and in tune with the effort and merit of the employees. To facilitate pay

role administration of !udgeting and wage and salary control. To imply collecti"e !argaining

procedure and negotiations. To promote organi&ation feasi!ility.

O"er all salary range for all the *o!s in an organi&ation is arranged. (ach *o! grade will

!e assigned salary range. These indi"idual salary ranges will !e filled into an o"erall range

O"erall salary grades of the organi&ation may !e ad*usted on the data information collected a!out

the salary le"els of similar organi&ations. ,ndi"idual salary may also !e ad*usted !ased on the

performance of the indi"idual employees.

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NEED FOR T"E STUDY

Many organi&ations today$ in order to competent enough to meet the challenges need to

continuously changes to de"elop wage and salary administration. Thus Company+s are supposed to adopt well !uilt wage and salary administration.

0eed for the study is that the performance of wage and salary administration is to !e

studied in order to make changes if any$ in order to retain the employees and also to

attract.

The new employees to meet the challenges of the organi&ation.

The study also aims at e"aluating the practical wage and salary administration under

taken !y the organi&ation in their work en"ironment to impro"e their working skills.


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O*+ECTI,ES OF T"E STUDY

The present study has !een conducted with the following o!*ecti"es

To study the fluctuations in wage and salary policies of #%COR management and

employee satisfaction.

To compare the wage and salary administration practices !etween workers and officials

of M3s #%COR.

To know the strategies adopted in the wage and salary administration practices of

#%COR during the challenging situation faced !y it and to come out if such situations.

To know the le"el satisfaction of the employees regarding the wage 4 salary

administration in #acor.

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SCO#E OF T"E STUDY

The cope of the study co"ers with e'tent of help to check all the acti"ities of salary

administration against the company polices.

%n attempt was made to know the pleasure of employees regarding their wages and

salary administration.

Hence this study specially is focused on wages and salary administration which is a key

factor for employee *o! satisfaction.

The Organi&ation under study namely$ #%COR %lloys Corporation 6imited$

hreeram0agar 78ari"idi9 is one of the ma*or concern in ,ndia for a generating and distri!uting

HC #erro manganese$ silicon manganese$ HC #erro chrome$ #erro silicon magnesium$ MC #erromagnesium$ 6C #erro chrome to the industries and domestic purpose in south ,ndia.

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MET"ODOLOGY

,n study the primary data collected !y means of personal inter"iew with the help of

)uestionnaire.

#RIMARY DATA%

The information consists of data gathered from the differnt source. ;rimary data is

the refresh data. This has !een collected from "arious sources. The sources adopted to get data is

)uestionnaire and through o!ser"ation.

ulletins

#iles 7 ?% files$ >onus files9

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LIMITATIONS OF T"E STUDY

The study made !y me in #%COR %66OA 6imited was confined to determine wage and

salary method and practices !eing followed

The lack of a"aila!ility of information.

The collected one does not gi"e the complete information.

%s time period is 2 months$ it is "ery difficult to get a clear picture.

The sample si&e taken for the research is small due to constraints of time.

ome of the employees had not coBoperated in filling of )uestionnaire.


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INDUSTRY #ROFILE

FERRO ALLOY INDUSTRY RE-UIRES LE,EL #LAYING FIELD IN

T"E LI*ERALISED ECONOMY%

The ,ndian #erro %lloy ,ndustry is not as old as the teel ,ndustry. #rom a hum!le

start in the fifties the capacity has grown enormously with enough potential to increase e'ports in

future. Howe"er$ the high power tariff in ,ndia is the stum!ling !lock. Though the industry

started getting power from 0ational ;ower Corporation at 0T;C tariff$ it is still higher than the

power tariff a"aila!le in countries like 0orway$ China$ and Russia$ Da&akhstan etc.$ which are a

ma*or producers and e'porters of #erro alloy too.

What is more$ the import duty on #erro alloy has also !een reduced drastically to 2

per cent in the post E li!erali&ed era. #urther$ steel e'porters are eligi!le to import their raw

material including #erro %lloys free of duty against ad"ance license. With plenty of raw

materials like ores and reluctant a"aila!le in the country$ what the industry needs is a le"el

playing field !y power !eing made a"aila!le at international compara!le tariff. The ,ndian #erro

%lloy ,ndustry is more than four decades old$ as produces >ulk and 0o!le #erro %lloys.

Through this ,ndustry is not as old as the steel industry$ its capacity has increased

su!stantially from a hum!le start in the fifties$ meeting the re)uirement of the steel industry in

the country. The growth of the steel industry has not picked up as e'pected$ whereas the growth

of the #erro %lloy ,ndustry has stepped up$ much more than the e'pected le"el. With the result$

the capacity a"aila!le in the country is much more in the #erro %lloy ,ndustry.

,t is a lot of potential to increase its e'ports in the near future. ,ndia has !een !estowed

with ade)uate resources of all !asic raw materials re)uired for the production of Manganese$

ilicon and Chrome %lloys. Most of the #erro %lloy Fnits ha"e come up in the si' tates %ndhra

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;radesh$ Madhya ;radesh$ Maharashtra$ Orissa and West >engal$ mainly due to a"aila!ility

and 3or pro'imity of the raw materials. #erro %lloys is a power intensi"e industry.

The total connected load of the industry has grown almost @ to times from 1= MG% in

the mid si'ties to o"er 1=== MG% as on date. With the result$ the installed capacity of the

industry is 1. million tones of >ulk and 0o!le #erro %lloys. Capacity of Manganese %lloys is

around :==$=== tones. #erro ilicon 1:.=== tones and #erro Moly!denum$ #erro Ganadium$

#erro Tungsten$ ilicon Magnesium$ #erro Titanium$ #erro ;hosphorous$ etc.$ around 2=$===

tones.

#RODUCTION OF FERRO ALLOYS%

;roduction of ?ifferent #erro %lloys for last fi"e tears is gi"en !elow

Ta.le $ /tate0ent /ho1in2 pro34ction of Ferro Allo5/ 34rin2 &667869 to &6$68$$ a/

a:aila.le 1ith the a//ociation; (-4antit5 in Tone/

#ro34ction &667869 &66986< &66


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the performance of the industry started deteriorating from the midBsi'ties$ due to "arious reasons$

the foremost !eing$ steep increase in the power tariff$ fuel$ oil$ raw materials and transport

charges.

('ports started sliding from 1:@ onwards. The eighties witnessed the ma'imum

erosion in the e'port performance of the #erro %lloy ,ndustry. Howe"er$ after initiation of the

li!erali&ation programmed$ there has !een a spurt in the e'port of >ulk #erro %lloys. 6ike all

other ectors$ e'ports from this sector ha"e also increased.

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ORGANI>ATION #ROFILE

FERRO ALLOYS COR#ORATION LIMITED

0ame #%COR %lloys Corporation 6imited

,ncorporation 1

Commencement of >usiness 1@

Registered hreeram >ha"an$ Tumsar.

%uthori&ed Capital 2=== 6akhs

;aid up Capital === 6akhs

#actory #%COR %lloys 6imited$ 8ari"idi

Chairman Fmashankar %grawal

Gice Chairman 4 Managing

?irector R.D.araf

oint Managing ?irector Aogesh araf

%sim araf

('ecuti"e ?irector %nurag araf

?irector 7Technical9 C.0.Harman

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>ankers >ank of ,ndia

Central >ank of ,ndia

tate >ank of ,ndia

yndicate >ank

tate >ank of >ikaner 4 aipur.

#%COR has created a respecta!le place for a remote place called 8ari"idi in the

industrial scenario after esta!lishing its first #erro %lloys plant in 15. The #%COR township is

named after late >ahadurseth hreeram*i$ the father of the founder of this great organi&ation late

ri. ?urgaprasad*i haraf 7father of the present Chairman ri.Fmashankar %garwal and G.C 4

M?.ri.R.D.haraf9 as HR((R%M0%8%R.

#%COR was esta!lished as a pu!lic limited company !y the families of H%R%#+ and

MOR+ in the History of #erro %lloys$ this has !ecome the first of its kind and a ma*or producer

of #erro Manganese in the country. #%COR is not only a leader in the field of #erro %lloys$ !ut

also produces special steels of high standard. ,ts di"ersified acti"ities e'tended !eyond mining

and production of #erro %lloys$ to making the special steel and em!race the production and

manufacture of synthetic yarn and mai&e products. 6ow #erro Chrome was imported to ,ndia

until 155 to meet the demand of steel industry. Then$ #%COR has step up a #erro Chrome plant

with two furnaces ha"ing capacity of a!out 12===mt low3high Car!on #erro Chrome to

su!stituted the imports of #erro Chrome and meet the domestic demand along with #erro

Manganese ;roduction and sa"ed lot of "alua!le foreign occupies the first position as producer

and e'porter of #erro %lloys$ in the country. ,t is a pride for the organi&ation for such credentials.

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CREDENTIALS OF FACOR%

,t is the country+s first #erro %lloys ;lant.

,t is the first plan to inno"ate and introduce Chromium %lloys and also the only single unit to

meet country+s re)uirements.

,t is the first unit to produce Magnesium #erro ilicon.

,t is the first to take up the erection and commissioning of the wholly indigenous furnace without

any foreign component or consultancy.

The first in the country+s to e'port #erro Manganese

,t is the first among the "arious #erro %lloys$ producing unit to take up the manufacture of low

Car!on #erro %lloys.

,t is the first firm to produce a total of one million tones of #erro %lloys !y the end of

1@1. #%COR de"elops #erro %lloys as per customer specifications !esides making si&ea!le

e'ports. #%COR was awarded certificate for e'port recognition !y the (ngineering ('port

;romotion council$ Western Region$ and >om!ay in Recognition of the outstanding performance

in the e'port of #erro Manganese$ #erro Chrome$ during the 1@1B@2.

FA,ORA*LE CAUSES OF LOCATION OF FACOR%

#%COR 7#%COR %lloys 6imited9 at hreeram0agar 78ari"idi9 is situated at @ Dm north

of Gisakhapatnam port. The main factors moti"ated to esta!lish a factory in hreeramnagar are

%"aila!ility of la!or at cheap rates

%"aila!ility of continues water supply

%"aila!ility of power station near !y

%"aila!ility of low grade Manganese or near !y

Cheap a"aila!ility of the communication and transport facilities.

%"aila!ility of la!or at cheap rates is one of the important and it is true in the case of

#%COR. Regarding supply of water there is a !ig >anta situated "ery nearer to with the plant. ,t

is !ig tank of 2== ft. depth and four fi"e acres of plinth area.

This unit was esta!lished along the MadrasBHowrah Railway Track which generally

contri!ute to easy transportation and #%COR is located the side roadway linking rikakulamB

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Gisakhapatnam. Hence it offered good communication and infrastructural facilities. ,t is nearer to

Gisakhapatnam ;ort to e'port its products.

The 8o"ernment of %ndhra ;radesh supplies electricity at lower rate. The near !y "illages

are the main sources of raw materials like sand$ manganese or is a"aila!le at nearest "illages

8ari"idi$ Doduru$ 8ar!ham$ ?u""ada and adanandapuram.

TEC"NICAL COLLA*ORATION%

The #erro Manganese plant located at hreeramnagar works di"ision contains three

furnaces of each :. DG% capacity to produce all "arieties of #erro %lloys$ to meet the demand

of country+s steel makers. The technical assistance was pro"ided to esta!lish these #urnaces !y

M3s (lkin %3s Oslo$ 0orway.

The technical process is "ery ad"anced and inno"ati"e that "isitors from #inland$

0orway$ outh %frica$ 8ermany$ %ustria etc.$ "isited the plant and learnt a!out the process. The

#erro Chrome ?i"ision has also o!tained the technical assistance in constructing two furnaces

from M3s (lkin$ Oslo$ 0orway and M3s (lectro ,n"est %3 tockholm weden$ su!sidiary of M3s

%sia$ weden. Technical knowhow for production of low car!on #erro Chrome was also taken

from M3s (lectro ,n"est$ %3 wede$ for an initial period of a!out fi"e years. #%COR crossed

another mile stone in #erro %lloys$ production !y esta!lishing a su! merged are smelting furnace

with 15 MG% capacities which is commissioned in 1@1. Thus #%COR has its credit of si'

furnaces in operation at hreeramnagar$ producing "arious #erro %lloys of Manganese$

Chromium and ilicon for teel manufacture.

%s a part of #%COR+ "ertical integration it has set up a steel plant at 0agpur in 1:@$

producing special steels like Car!on teels low alloy steel for the free going industry and "arious

stainless steels of all grades under )uality control standards to meet the demand of the country.

Thus #%COR is called as a Iteel Maker+. ,n 1:$ #%COR esta!lished its own Research and

?e"elopment wing the remarka!le technology to produce charge chrome$ the wonder alloy for

stainless steel manufactures$ desired !y steel makers all o"er the world.

Thus a charge chrome plant was set up at ?.;.0agar in Orissa in 1@. Fsing

sophisticated apanese furnace and indigenous technology. #%COR accomplished the task of

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The !asic raw materials re)uired for production of #erro %lloys are gi"en !elow

Ferro Chro0e (hi2h car.on % Manganese Ore$ chrome ore$ )uart&$ 6ime stone$ Coke and

(lectric ;ower.

The raw materials are o!tained from Orissa$ Maharashtra$ >ihar and West >engal$

ometimes coke and chrome ore are also imported from apan$ China$ Turkey$ F.%.(. etc.

%nnual consumption of the raw materials for full production is around lakh tones.

The raw materials are si&ed and !lended in ore preparation plant !efore using in the

furnaces. >lended materials are stocked in the yard sheds near the furnaces.

STORAGE AND FEEDING TO FURNACES%

The raw materials are initially fed to respecti"e 8round Hopers$ kips Hoist$ >ucket

(le"ators$ Telpher Cars etc.$ in se)uence in order to ha"e intermediate storage at indi"idual

furnaces.

FINIS"ED GOODS@ "ANDLING@ SI>ING AND TRANS#ORTATION%

#inished goods are handled manually or mechanically according to specifications of

the orders and transported !y means of road or rail within the country. ome )uantities are also

e'ported to apan$ 8ermany$ Dorea and F% etc.$ !y ship through Gisakhapatnam ;ort.

SALES AND DIS#ATC"ES% Chennai and Dolkata. #%COR is using installed capacity fully depending on the

market conditions. #%COR makes direct sales in domestic market through its marketing

department located at Head Office$ Tumsar and through is regional Office at Mum!aiJ ?elhi.

#%COR has !uilt up a good track record and de"eloped into ,ndia+s largest manufacturer and

e'porter of #erro %lloys$ and maintained this position o"er the time. The personnel department

plays a "ital role in the organi&ational climate of any organi&ation. The personnel department of

#%COR has also drawn clear guidelines for personnel policies and procedures$ their !y setting up

an atmosphere of mutual confidence and respect. Thus it helps to de"elop harmonious relations

!etween management and the work force.

RECRUITMENT%

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% thorough *o! analysis is under taken and then e'isting employee pool is referred

and matches to the re)uired employee )ualities with *o! specification$ if it matches the employee

is assigned the *o!$ if not a new candidate will !e introduced into the organi&ation.

CA#TI,E #OWER #LANT%

One of the !asic raw materials for #%COR is power$ which constitutes shortage$

and hea"y and continuous power cuts and low "oltages$ production hampered and there were

hea"y losses due to non a"aila!ility of finished goods at re)uired time. o #%COR planned to

esta!lish its own power generate plant during 1=B1 and the cost of generation is almost =K

of cost of power supplied !y %;(> power generated in the plant is meeting also =K of the

#%COR re)uirement.

The !asic raw material for power plant lu!ricants is produced from H;C6 Gi&ag.

The #%COR pro"ides employment nearly for 1==== employees and has !een instrumental in

!uilding industrial township of hreeramnagar 7%.;9 ?urgaprasad and ri ?urgapur 7Orissa9.

MANUFACTURING #ROCESS%

The raw materials are smelted3heated to 1== to 2===c and then alloys are trapped

from electric arc furnaces in molten states$ at prescri!ed inter"als$ along with the !yeBproducts

which are called slag. The melt is separated into metal and slag and collected in receptacles.

%fter cooling the metal and slag are handled separately.

FINIS"ED #RODUCTS%

The "arious types of #erro %lloys products are as follows

a "i2h car.on Ferro Chro0e.

%mong the products$ the High Car!on #erro Chrome is only producing !y #%COR at present

.

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WOR?MENEM#LOYEE EM#LOYED%

The e'isting manpower at hreeramnagar works in a!out 1===$ out of which

&6$6 (+4ne (a/ on $;9;&6$6 a;1;h

Managerial :

uper"isory 7Tech9 5@

uper"isory 70onBTech9

Work men killed 21

Work men %dministration @

Work men ;ermanent 21

Mining employees

TOTAL 7'7

#ERSONNEL MANAGEMENT%

The Management has committed for the professional management in the process

of which the employees are considered "ery important and prime resources for the de"elopment

of the organi&ation. Thus$ management en"isaged (mployee+s e'cellence cheme 7((R9.

-UALITY ASSURANCE SYSTEM%

% stringent )uality control for !oth raw materials and products is !eing maintained as

per the standards and !eing supported !y fullBfledged ,nspection and


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$==)E The certificate was issued at ,OB==2$ 1@: "ersion.

u!se)uently the certificate is upgraded with respect to ,OB==2$ 1/ "ersion. ,ndian Register

of )uality systems$ Mum!ai.

The certificate has !een renewal in ?ecem!er$ 2=== it is "alid up to ?ecem!er 2==.

-UALITY MANAGENT SYSTEM B GUIDELINES FOR #ERFORMANCE FOR

IM#RO,EMENTS B ISO &66

INTRODUCTION%

The adoption of )uality management system should !e a strategic decision !y the top

management of an organi&ation. The design and implementation of an organi&ation+s )uality

management system is influenced !y "arying needs$ particular o!*ecti"es$ the products pro"ided$

the processes employed and the si&e and structure of the organi&ation. This international standard

is !ased on eight )uality international standard to imply uniformity in the structure of )uality

management systems of uniformity of documentation.

T"E #UR#OSE OF AN ORGANI>ATION IS%

To identify and meet the needs and e'pectation of its customers and the interested

parties 7people in the organi&ation suppliers$ owners$ society9 to achie"e competiti"e ad"antage $

and to do this effecti"e and efficient manner and to achie"e$ maintain$ and impro"e o"erall

organi&ational performance and capa!ilities.

The application of )uality management principles not only pro"ades direct !enefits

!ut also makes an important contri!ution to managing costs and risks. >enefit$ cost and risk

management considerations are important for the organi&ation$ its customers and other interest

parties.

.

DI,ERSIFICATION%

#%COR has performed well during last four decades and its turno"er is a!out Rs.$ ===3B

million and is further seeking to di"ersify into other fields namely metallurgical$ petro chemicals$

chemical food !ased products etc. #%COR is well known nationally and internationally for 52=

million Rupees.

%s a pioneer$ the company has always !een eager to utili&e the opportunities for growth

and di"ersification in the related areas and for that reason #%COR has ac)uired3set upLL

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% miniBsteel plant at 0agpur 7Maharashtra9 to produce )uality steel.

% charge E chrome plant located at ?.;. 0agpur$ randia$ dist. >alasore$ costing around / crores.

This is a 1==K ('port Oriented unit with a production capacity of =$=== tons per annum.

AMANITIES FOR EM#LOYEES%

The company with its progressi"e ideas has "ery much ali"e to its special o!ligations

to the community and its employees as well$ such as

a9 W(6#%R(

!9 H(%6TH 4 #%M,6A ;6%00,08

c9 C%0T((0

d9 R(CR(%T,O0%6 %CT,G,T,(

e9 (?FC%T,O0%6 #%C,6,T,(

f9 CF6TFR%6 4 ;ORT

g9 ;6%C( O# WORDH,;

h9 TG 4 GCR #%C,6,T,(

i9 D%6A%0% M%0?%;%M

*9 OC,%6 %CT,G,T,(

k9 O(F 6,O0 (A( HO;,T%6

l9 >%6G,H%R #OR OR;H%0

m9 WOM(0 W(6#%R( C(0TR(

n9 0%R,0,D(T%0.

chool for ?eaf 4 ?um! 4 Mentally retarded$ a school for >lind and

Handicapped children.

#or well !eing 4 impro"ing the socio economic conditioned in the area also.

ANALYSIS OF WAGE AND SALARY ADMINSTRATION%

The following are the allowances which are gi"en to employees and to the

workers in #%COR

ACTING ALLOWANCE%

$ FOR REGULAR WOR?MEN%

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A%%cting allowance will !e paid to the workmen in the grade of =1$=2 and =

8rades in case they work on any day in a "acancy in a permanent sanctioned post of 1$2$ and /

grade respecti"ely$ at the rate of Rs.=3B per day pro"ided and said "acancy is due to the a!sence

of the workmen on the higher grade !ut not of workmen who has !een awarded the said higher

grade !y "irtue of length of ser"ices without getting the designation in the higher grade.

*% %ny workmen who ha"e !een awarded the ne't higher grade due to length of

the ser"ices only will !e eligi!le for acting allowances when on any day he works in the "acancy

of the higher unit he is promoted to the higher cadre !y change of designations and when

permanent "acancy arises in the higher cadre.

& FOR CASUAL WOR?MEN%

%cting allowance shall also !e paid to the casual operation when they are engaged

in place of permanent workmen in the higher category of = 4 =/ grade at the rate of Rs.=3B per

day. 0o acting allowance will they are engaged in the place of 2 grade personnel.

GENERAL%

$%cting allowance shall not !e paid.

a9 Fnless there is a temporary "acancy of permanent sanctioned higher category. !9 ,f there is a permanent "acancy filled in the same category or the same grade.

&Claims for the acting allowance from all departments must !e routed through ;ersonnel

department only.

'Regarding making of the details and the workmen engaged in acting places. ?#R 7daily

foreman report9 should !e confirmed so that time office can follow acting allowance formula

accurately.

,f any workmen to refuse to act in higher grade against the instructions of his super"isors with

a workmen will dis)ualify himself for the further promotions of higher cadre and the concerned

head and the departments are suggested to make a note of such refusal and intimate the personnel

department for nothing the personnel file of concerned employee.

RE,ISION OF ACTING ALLOWANCE%

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,n accordance with the clause 1= of the settlement dated 11B=B1:/ the workmen

will !e paid acting allowance e)ui"alent to the differences at the minimum of two pay scale

concerned. ,f he carries out duties of higher category.

u!se)uently$ management has enhanced acting allowance wide notice M;%3#;6$

dated 2:B=B1@: to =3B day in order to further moti"ate the workmen to act in higher

position is and when temporary "acancy arises in order to gi"en unity to workmen to make

themsel"es complement for the *o! in higher position and !e considered for higher position when

a "acancy in a higher cadre arises ,T is also mentioned in the said notice that if any workmen

refuses to act a higher cadre against the instructions of superiors the said workmen will

dis)ualify himself for the future promotion of higher cadre. ,n the foreign contest we once again

enhance allowance form Rs.223B to Rs.=3B per day with the same o!*ecti"e as mentioned under

working in higher position and once he is promoted he would !e in a position to carry out the *o!

easily. Therefore$ whene"er the workmen are asked to act higher position they are ad"ised to

o!ey and act in higher position to a"oid !eing dis)ualified from promotion.

WOR?MEN #AY SCALES FROM 6$;69;&6$$%

A =2 R/;1=B=B/=BB:5@B5B/1=/BB//@B52B/@=B5B22=B5@B52@B:1B5=/3B

* 2% R/; ==BB51@B5B/BB/=@B52B/5@=B5B=:=B5@B/:@B:1B=/B:/B5/@3B

C = R/;/=B5B:@5B5=B/1/5B5/B/=B5@B/@B:2B:=B:5B@25B@=B5=5B@/B5@1=3B

D % R/;5==B5=B5=B5B/=B:=B/::=B:B22=B@=B:==B@B521=B=B5:=BB:2=3B

E =/ R/;:=B5B/1/=B:=B/5=B:B=1=B@=B/=B@B5===B=B5/=BB:111=B1==B::1=3B

F /% R/; ==B@B//1=BB/@=B1=B51=B11B5==B12B:==B1B:@5=B1/B@:=B1B

55=3B

G 1/. /==BB/52=B1=:B252B11B:5B11B5:52B1/B:52=B1B@=B15:B2B1:B

1=5253B

" 1. /2==B1=B/@=B1/B@=B15=B5@1=B1:B:@5=B1=B===B2=B1=2=B22=B11=B2B

125=3B.

SU#ER,ISORY #AY SCALES% W;E;F;6$;67;&66= (NEW SCALES GRADE%

+M

2/


25/89

76 Rs./==B1:B2==B1B@=B21B5@/=B2B::@=B2B@@==3B

AM

7$%Rs.===B21B@5=B2/=B5@2=B25B:@@=B2=B=/=B1B1===3B

SAM

7&%Rs.==B2B52=B2@B:55=B1B@2=B/B1===B:B11@==3B

DM

7'%Rs.5===B2B:1@=B=B@==B5B5=B/==B115=B/B1==3B

SDM

7%Rs.5==BB:@/=B:B/=B/1B11===B/B12@2=B/B1/@==3B

M

7)%Rs.:===B:B@==B/2=B1=1@=B/5B12=/=B1=B1/=@=BB15==3B

SM

77%Rs.:==B/1B15=B/5B11=2=B1B1=@=B5B1/=B51B1:@==3B

AGM

79%Rs.@===B/B@2=B1=B11@5=B5B1/12=B52=B155==B5:B1==3B

DGM

7


26/89

SCOOTER ALLOWANCE%

#or all workmen Rs.=3B 4 super"isors Rs.5=3B.

MO#ED ALLOWANCE%

#or all workmen Rs.2=3B 4 super"isors Rs.=3B.

RULES FOR #AYMENT OF ,E"ICLE ALLOWANCE%

1. %n eligi!le employee while su!mitting application for claiming "ehicle allowance is re)uired

to produce CB!ook of his "ehicle to the personnel department to "erify the ownership.

2. ;ersonnel departments will in turn on !eing satisfied with the ownership intimate the eligi!le

of "ehicle allowance in this monthly salary as per their eligi!ility.

. %ll the employees are eligi!le for "ehicle allowance pro"ided they produce their CB!ooks of

their "ehicle to the personnel department once in a )uarter for getting allowance su!se)uent

)uarter.

CYCLE ALLOWANCE%

%ll permanent workmen and super"isory personnel are eligi!le for cycle allowance of

Rs.53B pm unskilled workmen Rs.=3B pm.

S#ECIAL ,E"ICLE ALLOWANCE%

ome employees whose duties also in"ol"e duties outside the plant premises are gi"en

special "ehicle allowance of Rs.1==3B pm in the addition to the "ehicle allowance if they use their

scooter motor cycle for such duties$ the department head concerned should maintain a long !ook

in such cases.

"OUSE RENT ALLOWANCE%

%ll workmen who are not allotted )uarters or choose to say in pri"ate houses are eligi!le

for house rent allowance at the rate of Rs.12.K of their !asic salary su!*ect to a minimum of

Rs./==3B pm whiche"er is higher.

25


27/89

NIG"T S"IFT ALLOWANCE%

0ight shift allowance will !e paid at the rate of Rs.123B per their shift attend fully !y a

workmen.

The eligi!le workmen are

1. Regular workmen.

,n case of workmen works partially in third shift$ he shall not !e eligi!le for any night shift

allowance for that night.

UNIFORM ALLOWANCE%

Fniform allowance of Rs./=3B per annum is paid annually to certain categories of

employees and a!o"e.

#ETROL *UN? DUTY ALLOWANCE%

;etrol !unk duty allowance of Rs.=3B is paid to the clerk of stores and paid to clerk pf

stores and purchases section of materials department who attends to the issue of petrol or diesel

to company+s "ehicle and employees "ehicles.

TRA,ELLING ALLOWANCE%

%n employee is eligi!le for tra"eling allowance if *ourney is undertaken for following

purpose.

Tour 7official9

#or medical e'amination or treatment of an employee any mem!er of his family of

%ppro"ed !y company medical officer

To participate in sports$ games and cultural programmers this authori&ed sponsor !y the

company.

To recei"e national awards.

To attend training programmers$ seminars$ conferences.

To appear in courts as witness or assessor.

#or any other *ourney undertaken as per the instructions of the management.

2:


28/89

ENTITLEMENT AND MODE OF TRA,EL%

(ntitlement and mode of tra"el in different pay ranges as mentioned !elow

SETTING ALLOWANCES%

% person on *oining is entitled from reim!ursement of railway fare from itself$ wife$

dependent and children for tra"el from its place to shreeramnagar !y the shortest route detailed

!elow.

CATEGORY OF EM#LOYEES DRAWING%

>asic salary per month (ligi!ility

%ctual$ air$ train$ ta'i

%C 1stClass$ 2ndClass %C

>y Train

2ndclass !y train.

E!TRA WAGES%

These are granted on the !asing on the recommendation of the departmental heads in case

of employee works on one day off.

,n case of employee works on e'tra hours !eyond their duty.

,n case of employees asked to work on paid holidays or optional holidays$ one e'tra wage

is gi"en in the paid holiday.

,n case of employee calming e'tra wage of the e'tra work after the normal working

hours. ('tra work of minimum three hours and a!o"e will !e considered.

This system is for grades. ,n case of assistant managers i.e.$ from grade 5 the e'tra

hours is for @ hours continuously after normal working hours$ the employees from grade

: are eligi!le for e'tra wages.

2@


29/89

,n case of deputy managers and r. ?eputy Manager+s works on unday as paid Holiday

they are gi"en compulsory dBoff for that days.

Managers and a!o"e are not gi"en e'tra recommendations for working dBoff paid day.

CLASSIFICATION OF O,ERTIME%

The o"er time is classified as details !elow

19 #or emergency !reakdown due to which production acti"ity etc.$ get hampered.

29 To fill up sanctioned complement due to lea"e "acancy a!sence where usual workman

could not !e arranged.

9 #or completion of normal work which could not !e in regular time.

#or completion of annual of such works which are not !eing regular in nature !ut ha"e asked

to carry in regular time.

COM#ENSATORY D8OFF%

SITUATION ($%

,f a workman works on day off paid3optional holiday workman will !e granted in C? in

he had worked for the while day on his dayBoff3paidBoptional holidays.

Half C?O if he had worked only for half day off paid holidays.

Will !e granted one C?O if he had worked for whole day on his day off3paid optional

holiday.

FOR WOR?ERS%

ection in charge will grant the C?O. ,f he had worked for whole day off3paid holiday or

optional holiday.

FOR SU#ER,ISORS% ?epartmentHead will grant the C?O.

He will !e granted one C?O if he had worked for whole day off3paid holiday or optional

holiday.

2


30/89

SECTION (%

anction of C?O+s at stretch.

SECTION ()%Time limit with in months$ C?O+s must !e a"ailed.

"UMAN RESOURCE MANAGEMENT DEFINITION%

%ccording to #lippo$ human resource management is the planning$ Organi&ing$ directing

and controlling of the procurement$ de"elopment$ compensation$ integration Maintenance and

reproduction of human resources to the indi"idual$ organi&ational and societal o!*ecti"es are

accomplished.

To help the organi&ation to attain its goals !y pro"iding wellBtrained and wellBmoti"ated

employees.

To utili&e the human resources effecti"ely in the achie"ement of organi&ational 8oals.

To enhance the *o! satisfaction and self actuali&ation of employees !y (ncouraging and

assisting e"ery employee to reali&e his or her full potential.

To esta!lish and maintain producti"e$ self respecting and internally satisfying working

relationships among all the mem!ers of the organi&ation.

To !ring a!out ma'imum indi"idual de"elopment of mem!ers of the organi&ation !ypro"iding opportunities for training and ad"ancement.

To de"elop and maintain a )uality of work life which make employment$ in the

organi&ation a desira!le personal and social situation.

To maintain high employee morale and sound human relations !y sustaining and

impro"ing "arious conditions and facilities.

To manage change to the mutual ad"antage of indi"iduals$ groups$ the organi&ation and

the society.

#RINCI#LES OF "UMAN RESOURCE MANAGEMENT

$ #RINICI#LE OF MA!IMUM INDI,IDUAL DE,ELO#MENT%

=


31/89

This principle stresses on the de"elopment of e"ery person working in an

organi&ation. >y this employees will !e a!le to de"elop themsel"es to the ma'imum e'tent of

their capa!ilities. Their a!ilities$ producti"ity and efficiency can !e used for achie"ing the

o!*ecti"es of the organi&ation.

& #RINCI#LE OF SCIENTIFIC SELECTION%

#or the proper coordination !etween work and workers it is necessary to select the

right person for the right *o!. Workers should !e selected after a careful weighing of the

re)uirements of the *o!s.

' #RINCI#LE OF "IG" MORALE%

,t is necessary to ha"e a high morale among workers in an organi&ation.

#RINCI#LE OF DIGNITY OF LA*OR%

NWork is worship workers should feel proud feel of their work or la!or.

) #RINCI#LE OF TEAM S#IRIT%

Team spirit must !e de"eloped in the workers. They should work collecti"ely and

they should feel collecti"e responsi!ility for the attainment of the o!*ecti"es of the organi&ation.

7 #RINCI#LE OF EFFECTI,E COMMUNICATION%

There must !e effecti"e channel of communication !etween the management and the

workers. The orders of higher authorities should reach the workers$ while workers re)uests and

grie"ances should reach the higher authorities in a proper way.

9 #RINCI#LE OF FAIR REMUNERATION%

6a!or should !e gi"en fair and proper compensation for the work they rendered.

They should also gi"e fair incenti"es to recogni&e good performance.


32/89

This principle emphasis the idea of la!or participation in the management of the

enterprise.

$6 #RINCI#LE OF CONTRI*UTION TO NATIONAL #ROS#ERITY%

This principle stresses to pro"ide a higher purpose of work to all the employees and

to contri!ute to national prosperity.

IM#ORTANCE OF "UMAN RESOURCE MANAGEMENT%

a ORGANI>ATIONAL SIGNIFICANCE%

%ttracting and retaining the re)uired talent through effecti"e human resource planning$

recruitment$ selection$ placement$ orientation$ compensation and promotion policies.

?e"eloping the necessary skills and right attitudes among the employees and

performance appraisal etc.

ecuring willing cooperation of employees through moti"ation$ participation grie"ance

handing.

Ftili&ing effecti"ely the a"aila!le human resources.

. #ROFESSIONAL SIGNIFICANCE%

?e"eloping people on continuous !asis to meet the challenges of their *o!s.

Maintaining the dignity of personnel at work place.

;ro"iding proper physical and social en"ironment at the work place to utili&e the

capa!ilities of the people effecti"ely.

;ro"iding en"ironment and incenti"es for de"eloping and utili&ing creati"ity.

c SOCIAL SIGNIFICANCE%

Maintaining !alance !etween *o!s and *o! sealers in terms of *o!.

Re)uirements and *o! seekers a!ilities and attitudes.

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33/89

;ro"iding most producti"e employment from socio psychological satisfaction can !e

deri"ed.

Ftili&ing human capa!ilities effecti"ely and matching rewards for the contri!ution made

!y people.

3 NATIONAL SIGNIFICANCE%

,ncrease in the si&e and comple'ity of organi&ations.

Rapid technological de"elopments like automation and computeri&ation.

Rise of professional and knowledgea!le workers.

,ncreasing workmen in the work force.

8rowth of powerful nationwide trade unions.

Re"olution of technology that might affect the work force.

Wa2e an3 Salar5 A30ini/tration

Wage and salary %dministration is essential application of a systematic approach to the

pro!lem of ensuring that employees are paid in a logical$ fair and e)uita!le manner. The

payment of wages and salary is an in!uilt system with human force for their acti"ity performed.

To what e'tent the payment of wages 4 salary is reasona!le and ade)uate in consonance to the

nature of the work performed.

The payment of wages and salary is an in!uilt system with human force for their acti"ity

performed. The supply of la!or is more than the demand and with the result there is e'ploitation

of cheap la!or policy. 6ater the ad"ent of trade unionism helped to impro"e the working

conditions of la!or. Fntil econd World War$ e"ent the go"ernment adopted a N6%,(PB

#%,R( policy in this regard. ,t was as late as in 1/:$ which the industrial unrest !ecomes

so uncontrolla!le that a tripartite conference was con"ened of

719 Central and state go"t.

729 (mployers

79 (mployees which resulted in ,ndustrial trade resolution.


34/89

The !asic purpose of wage 4salary administration is to esta!lish and maintain an

e)uita!le Wage 4 salary structure.

The secondary o!*ecti"e is to esta!lish and maintenance of e)uita!le la!our Ecost i.e. an

optimal !alancing of conflicting personnel interests so that satisfaction of employer and

employee is ma'imi&ed.

,t is concerned with the financial aspects of needs$ moti"ation and rewards. Managers$

therefore$ analy&e and interpret the needs of their employees so that rewards can !e indi"idually

designed to satisfy these needs.

The first and the most important pro!lem in wage and salary administration is the

esta!lishment of !ase compensation for the *o!. This pro!lem is enormously complicated !y

such factors as upply and ?emand$ 6a!or organi&ation$ the firm+s a!ility to pay$ Gariations in

producti"ity and Cost of li"ing$ 8o"ernment legislation$ ,ncluding C,G,C R,8HT %CT.

,n order to attract and retain needed personnel for the organi&ation$ employees must

percei"e that compensation offered is e)uita!le in relation to their inputs and relati"e

contri!utions. The most likely to !e used method to sol"e this pro!lem at present would !e *o!

e"aluation$ a systematic and orderly process for esta!lishing the worth of *o!.

The importance of a pay system to an e"ent of ma*or importance to employees and its

effects upon them cannot !e ignored. ,t is a "alid system if it results in a structure accepta!le to

!oth employee and employer. ,n general$ structures that are internally and e'ternally consistent

ha"e the greatest chances of affecting o"erall satisfaction. Fnder reward$ O"erBreward and

inconsistency of reward not only tend to lead to lower satisfaction !ut encourage !eha"ior that

often pro"es dysfunctional to organi&ational o!*ecti"es. % sound$ systematic$ consistent system

of compensation determination will do much to promote e)uity and satisfaction$ pro"ided that

such a system is understood and accepted !y most employees.

NEED FOR T"E WAGE AND SALARY ADMINISTRATION%

Wage and salary administration is "ery much needed in an organi&ation.

Reward employees according to efficiency and merit.

%ttract and retain the ser"ices of desira!le employees.

8et impro"ed employee morale and producti"ity.

/


35/89

Deep la!or cost within reasona!le limits so as to safe guard the interests of shareholders$

competiti"e worth of the organi&ation and its product and profita!ility.

Helps the employees to compare the pay of different employees with their skill$

knowledge$ performance etc.

SALARY

#i'ed periodical payment to a person doing other than manual or mechanical work. ,t

refers to monthly rate of May$ irrespecti"e of the num!er of hours put !y an employee.

WAGES%

;ayment paid for manual and mechanical work is wages. Represents hourly rates of pay.

Nwages means all remuneration$ capa!le of !eing e'pressed in terms of money which would if

the terms of the contract employment e'press or implied $were fulfilled $!e paya!le to a person

employed in respect of his employment or of work done in such employment.

O*+ECTI,ES OF WAGE AND SALARY ADMINISTRATION%

The o!*ecti"e of wage and salary administration is numerous and sometimes conflict with

each other.

$ TO AC-UIRE -UALIFIED COM#ETANT #ERSONNEL %

Candidates decide upon their career in a particular organi&ation mostly on the

!asis of the amount of remuneration the organi&ation mostly on the !asis of the amount of

remuneration the organi&ation offers )ualified and competent people *oin the !est paid

organi&ation. %s such the organi&ation should aim at payment of salaries at that le"el where

they can attract competent and )ualified people.

& TO RETAIN T"E #RESENT EM#LOYEES %

,f the salary does not present compare fa"ora!ly with that of other similar

organi&ation. (mployees )uit the present one and *oin the other organi&ation. The

organi&ation must keep the wage le"els at the competent le"el$ in order to pre"ent )uite.


36/89

' TO SECURE INTERNAL AND E!TERNAL E-UITY %

,nternal e)uity does mean payment of similar wages for similar *o!s within

the organi&ation. ('ternal e)uity implies payment of similar wages to similar *o!s in compara!le

organi&ation.

/9 TO ENSURE T"E DESIRED *E"A,IOUR %

8ood rewards reinforce desired !eha"ior like performance loyalty accepting

new responsi!ilities and changes etc. to keep la!or and administration costs in line of the

organi&ation to pay. To protect in pu!lic as progressi"e employers and to comply with thewage legislations. To pay according to comply with wage legislations. To pay according to

the content land difficulty of the *o!s and in tune with the effort and merit of the employees.

To facilitate pay role administration of !udgeting and wage and salary control. To simply

collecti"e !argaining procedure and negotiations. To promote organi&ation feasi!ility.

SYSTEMS TO AC"IE,E T"E O*+ECTI,ES%

The o!*ecti"e is achie"ed !y the use of the following systems

+O* E,ALUATION%

%ll the *o!s will !e analy&ed and graded to esta!lish the pattern of internal

relationships. ,t is the process of the determining relati"e worth of *o!s. ,t includes suita!le

*o! e"aluation techni)ues classifying *o!s into "arious categories and determining relati"e

"alue of *o!s into "arious categories.

WAGE AND SALARY RANGES%

O"er all salary range for all the *o!s in an organi&ation is arranged. (ach *o!

grade will !e assigned salary range. These indi"idual salary ranges will !e filled into an o"erall

range.

5


37/89

WAGE AND SALARY AD+USTMENTS%

O"erall salary grades of the organi&ation may !e ad*usted on the data information

collected a!out the salary le"els of similar organi&ations. ,ndi"idual salary may also !e ad*usted

!ased on the performance of the indi"idual employees.

#RINCI#LES OF WAGE AND SALARY ADMINISTRATION%

There are se"eral principles of wage and salary plan$ policies and practices. The

important among them are

Wage and salary plans and policies should !e sufficiently fle'i!le.

o! e"aluation should !e done scientifically.

Wage and salary administration plans must always !e consistent with o"erall

organi&ational plans and programmes.

Wage and salary administration plans and programmes should !e in conformity with the

social and economic o!*ecti"es of the country attainment of e)uity in income distri!ution

and controlling inflationary trends.

Wage and salary administration plans and programmes should !e responsi"e to the

changing local and national conditions. These plans should simplify and e'pedite other

administrati"e process.

ELEMENTS OF WAGE AND SALARY ADMINISTRATION%

Wage and salary system should ha"e relationship with the performance$ satisfaction and

attainment of goals of an indi"idual. Henderson identified the following elements of

wage and salary administration.

,dentifying the a"aila!le salary opportunities$ their costs$ estimating the worth of its

mem!ers of these salary opportunities and communicating them to employees.

Relating salary to needs and goals.

?e"eloping )uality$ )uantity and time standards relating to work and goals.

?etermining the effort necessary to achie"e standards.

Measuring the actual performance.

Comparing the performance with the salary recei"ed.

:


38/89

Measuring the *o! satisfaction gained !y the employees.

("aluating the unsatisfied wants and un reached goals of the employees.

#inding out the dissatisfaction arising from unfulfilled needs and unattained goals

ad*usting the salary le"els accordingly with the "iew to ena!ling the employees to reach

unreached goals and fulfill the unfulfilled needs.

WAGE INCENTI,ES%

Wage incenti"es are e'tra financial moti"ates. They are designed to stimulate human

effort !y rewarding the persons$ o"er and a!o"e the time rate remuneration for impro"ements in

the present or targeted results.

TY#ES OF INCENTI,ES #LANS%

"ALSAY SYSTEMS%

Fnder this system a standard time is fi'ed for the completion of *o! if the worker

completes the *o! in less than the standard time the time actually spent on the *o! he is paid at

hourly rate plus a !onus for the time sa"ed.

ROWAN SYSTEM%

Fnder this system$ a standard time is allowed for *o! and a !onus is paid for time

sa"ed. The !onus is percentage of the workers part at a hourly !asis. The percentage !eing e)ual

to the proportion the proportion the time sa"ed !ears to standards is attained.

TAYOR DIFFERENTIAL #IECE RATE SYSTEM%

This has a piece rate for output !elow standard and a piece rate per open a!o"e

standard with a !onus of =K of the hourly rate of wages when standard is attained.

MERRIC? DIFFERENTIAL #IECE RATE SYSTEM%

traight piece rates are fi'ed up to @K of standard o3p at which a !onus of 1=K on

reaching standard o3p$ !eyond standard o3p high piece rates.

@


39/89

GRANT TAS? SYSTEM%

Fnder this system for open !elow standard$ the worker gets a guaranteed minimum

hourly rated$ on reaching standards o3p$ he gets 2=K !onus$ for outputs e'ceeding the standards

high piece rates are paid.

T"E MEC"ANISM OF WAGE AND SALARY ADMINISTRATION%

alary is structured$ fi'ed ad*usted on the !asis of se"eral systems. The important among

them are.

19 FACTORS EFFECTING SALARY LE,ELS %

REMUNERATION%

;re"ailing rates of remuneration in compara!le industries constituted an important

factor in determining the salary le"els. The organi&ation in the long run must pay at least

e)ual to the going rate for the similar *o!s in the similar organi&ation.

FIRMS A*ILITY TO #AY%

One of the principle considerations is the firm+s a!ility to pay. The firms should

!e a!le to pay the same e"en at the tough situation 7loss9.

COST OF LI,ING%

The cost of li"ing is another important factor that influences the )uantum of

salary the employees e'pect that their purchasing power !e maintained at least at the

same le"el. ,f not increased !y ad*usting wages to changes in cost of li"ing.

#RODUCTI,ITY%

%n interesting de"elopment in wage determination has !een producti"ely standard

this is !ased on the fact that producti"ity increase is also result of employees.


40/89

UNION #RESURE AND STRATEGIES%

The wages are also after influence !y the strength of "arious. There !argaining

capacity and their strategies.

GO,ERNMENT LEGISLATION%

8o"ernment legislations influence wage determination.

29 WAGE T"EORIES %

+UST WAGE T"EORY%

This was the first theory on wages ad"ocated during medie"al period. The essence

of this theory is that the worker should !e paid on the le"el of maintain himself and hisfamily.

SU*SISTENCE T"EORY%

%ccording to Ricardo Nthe la!orers are paid to ena!le them to su!sist and

perpetuate the race without increase or diminution.

STANDARD OF LI,ING T"EORY%

Darl Mar' pointed out that Nwage of la!or is determined !y a traditional standard

of li"ing$ which$ in turn$ is determined !y the mode of production of the country

concerned.

T"E WAGE FUND T"EORY%

%ccording to ..Mill$ the wages are determined on the !asis of the relationship

!etween the amount of fund allocated for the purpose of wage payment and num!er of

workers in the country.

%mount of fund allocated for wage payment

Wages Q 0um!er of workers

/=


41/89

RESIDUAL CLIMANT T"EORY%

%ccording to walker$ the wages are determined on the !asis of amount left after the

payment of profits and interest to land$ entrepreneur and capital respecti"ely out of the

production le"el.

%mount of wages Q production "alue E 7rent profits Q interest9

MARGINAL #RODUCTI,ITY T"EORY%

%ccording to .>. Clark$ the wages are determined on the !asis of marginal

contri!utions of the workers to production. The employer stops employing further workers where

the contri!utions of most recently employed worker are e)ual to his wages.

*ARGAINING T"EORY OF WAGES%

%ccording to this theory the wages and other terms of employment are determined on

the !asis of the relati"e !argaining strength of the two parties$ "i&.$ the employer and the

employees. We!s stated that$ Nthe haggling of the market which under a system of the

completion and indi"idual !argaining determines the conditions of employment.

WOR?MAN AND SU#ER,ISORS%

0o claim for C?Os will !e entertained or granted after e'piry of three months from date on

which he worked in line of which C?Os !e claimed.

WAGES AND SALARIY #OLICY OF FACCOR

AD,ANCES #OLICY%

Monetary ad"antage is gi"en to employees against the salaries for following purposes.

19 #esti"al ad"ance.

$ FESTI,AL AD,ANCE%

/1


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19. #esti"al is gi"en to Hindu employees for ankranthi. To Christmas for the Christian

employees and Ram&an to Muslims.

29. To amount of ad"ance is as follows. ===3B reco"era!le in @ installments.

INCREMENTS%

The following are the increments gi"en to the employees.

$ANNUAL INCREMENTS%

%nnual increments of all the employees will !e effected twice in a year as a matter

con"ince as an annual increment will !e awarded in anuary or in uly.

& S#ECIAL INCREMENTS%

,ncrements are awarded for employees for e'tra ordinary performance on *o! per

direction on management.

FITMENT%

,f a workman+s !asic pay short !y Rs.3B and fit in to particular sla! in a particular scale$

such shortage will !e co"ered !y adding of amount to such shortage this !enefit is e'tended only

during the su!sistence of union agreement 1@3. %dditional increment for completion of

e"ery years of ser"ice.

*ONUS%

The following are the !onus gi"en to the employees and workers as well.

$; ANNUAL *ONUS%

%nnual !onus to all the employees is paid on accordance with the pro"ision of payment

of !onus act 15 and its amendments from time to time. The financial year of the company is

from 1st%pril to 1stMarch.

&; ATTENDANCE *ONUS%

/2


43/89

%ttendance !onus is paya!le on the !asic of attendance on )uarterly !asis to workmen

only.


44/89

2. ,n addition of these ten days holidays two optional holidays gi"en to employees.

. 0ames of workmen decided to work on paid holidays are to !e intimated to department

section to time office one day !efore.

/. Workman who is called upon paid holidays is not forced to work as it is continuous

manufacturing process.

. uch of workmen who are asked to work on paid holidays to !e gi"en e'tra wages.

5. ('tra wages for working on non paid holidays for super"isory staff with !e gi"en up to

r. %sst. Manager can a"ail compensatory off holidays for such num!ers in which

worked.

SC"EME OF INCENTI,ES%

These schemes of incenti"es shall !e applica!le from =1B=1B1 u!*ect to the

condition that the re"ised rates of incenti"es will not !e paya!le for the period during which

normal production is effected due to any willful cause !y the workmen. ,ncenti"es no =1Btapping

incenti"es. (ach mem!ers of the taping crew of the furnaces in each shift is eligi!le for this

incenti"e. The amount paya!le to each worker depends upon the material produces and the no.of

tapping reaction done.

#OLLUTION CONTROL%

#%COR fore saw the need of pollution control system as a responsi!ility and

incorporated two stage Genture scru!!er systems$ !ag house units to the furnaces and are !eing

operated continuously maintain a clean en"ironment around the industry. Continuous monitoring

is !eing done !y a separate pollution control wing that the pollution le"els are far !elow and safe

limits prescri!ed !y the pollution control !oards.

% !eautiful green !elt has !een de"eloped in an around the industry addition to the

plants de"eloped within the factors systematic plantation is done to preser"e and to !eautiful the

en"ironment. >y a separate horticulture wing. The de"eloped plantation co"ered with an area of

a!out 1== acres. %nd also the facilities for !eneficiation and agglomeration of chrome ores ha"e

!een set up. ;ilots for sintering of Manganese chrome ore fines and mechani&e fre)uenting plant

were set up.

*RIEF DESCRI#TION OF #RO,IDENCE OF FACOR%

//


45/89

The employee pro"ident #und and miscellaneous pro"isions %ct 12$ is a social ecurity

%ct. ,t was mainly passed with a "iew to make some pro"isions for the future of the indi"idual

workers after his retirement or for his dependents is case of early death. ,t is also framed to

inculcate the ha!it of sa"ing among the workers for the further contingencies.

The main o!*ect of this act pro"ide su!stantial security and timely monetary !enefit and

assistance to indi"idual employee and their families when there are pro!lems in need some

assistance to meet their family and school o!ligations$ and also to protect them$ when they

!ecome older$ disa!led or and in case of early death of the employee and also in meeting some

other contingencies.

,ARIOUS SC"EMES OF T"E ACT%

The employee pro"ident fund 4 miscellaneous pro"isions %ct 12 has mainly schemes

to pro"ide a !road and real recruit to the employee and their families. They are as follows

The (mployees ;ro"ident #und cheme. 12

The (mployees ;ension cheme. 1

The (mployees ?eposit 6inked ,nsurance cheme. 1:

REMITTANCE RATES%

The employee has to remit !y 1 thof e"ery month of the contri!utions and other

charges at the following rates.

T"E WAGE LIMIT (MA!IMUM FOR ALL T"E T"REE SC"EMES IS 7@)66%

SC"EME CONTRI*UTION

OF EM#LOYER

EM#LOYEE

#;# cheme 12K .5:K

;ro"ident #und BBBBB BBBBBB

%dmin Charges BBBBB 1.1=K

(mployee ;ension BBBBB @.K

cheme

/


46/89

6inked ,nsurance 88888 =.=K

cheme

(?,T %dm Charges 88888 =.=1K

7u!*ect to Min of 29

TOTAL $& $';7$

The employer and the (mployee ha"e to furnish "arious firms to ;ro"ident #und Office

for different purposed some of them are follows

A*OUT E;S;I (EM#LOYEE STATE INSURANCE%

The contri!ution of (.., is as follows

(M;6OA(( 1.:K

(M;6OA(R /.:K

CLARIFICATION ON CERTAIN UNDER ESI ACT%

#ollowing are the clarification confirmed !y the regional office of (, at Hydera!ad

which formed part of deli!eration at the seminar on recent amendment to (, 7central9 rules$1=$ held on 2BB1:: at #%;CC, premises.

%llowances which areCOG(R(? 4 0OT COG(R(? the definition of wages and on

which (, deductions are to !e made.

CO,ERED NOT CO,ERED

1. ;ayment made for o"er time working 1.Cycle allowance 7paid for using9

2. HR% 2.Coneyance allowance

. 0ight shift3shift allowance .6unch allowance per day of.

%ttendance

/. ,ncenti"e payment made /.%llowance paid to datary incidental

A*OUT ESI (EM#LOYEES STATE INSURANCE%

/5


47/89

The contri!ution of (.., is as follows

(M;6OA(( 1.:K

(M;6OA(R /.:K

;ayment for working on holidays.

;ayment paid for acting in a higher post.

NOTE% The incenti"e payment made at inter"al e'ceeding 2 months also constitute as wage.

ANALYSIS AND INTER#RETATION OF T"E STUDY

$; Are 5o4 happ5 1ith 5o4r o.

(aYES (. NO

TA*LE NO% $

GRA#"% $

/:

SL;NO O#TIONS NO; OF

RES#ONDENTS

#ERCENTAGE

(

1 A( : : 2 0O 2 2

TOTAL 1== 1==


48/89

ANALYSIS %

,n ta!le no.1$ it shows that:percentage of the respondes are happy with their

*o!.2 percentage of respondents are not happy with their *o! . The ma'imum num!er of

the respondents are of an opinion that they are satisfied with their *o!. Minimum num!er

of respondents are of the opinion that they are not satisfied with their *o!.

/@


49/89

&; Which factor i/ 0ore i0portant to ha:e o. /ati/faction

(aSalar5 (. Mana2e0ent (c Welfare .enefit/ (3 Worin2 con3ition/

TA*LE NO% &

GRA#"% &

/


RES#ONDENTS

#ERCENTAGE

(

1 alary /= /=

2

Management

Welfare!enefits

1= 1=

/ Workingcondition

1 1

TOTAL 1== 1==


50/89

ANALYSIS %

,n ta!le no 2 $ it show sthat /= percentage of the employees say that their salary is

important for *o! satisfaction$ percentage of employees say that their management is

important for *o! satisfaction$1= percentage employees say that their welfare !enefits is

important for *o! satisfaction $1 percentage employees say that their working

conditions is important for *o! satisfaction. The ma'imum num!er of the respondents

are of the opinion that they are satisfied with their salary.

=


51/89

'; The /alar5 2i:e/ 2oo3 feelin2 per/onal acco0pli/h0ent

(aStron2l5 a2ree (. A2ree (c #artl5 a2ree (3 Di/a2ree

TA*LE NO % '

GRA#"% '

1


RES#ONDENTS

#ERCENTAGE

(

1 trongly %gree 55 55

2 %gree 1/ 1/

;artly %gree 1 1

/ ?isagree

TOTAL 1== 1==


52/89

ANALYSIS %

,n ta!le no.$ 55percentage of the respondents strongly agree that they are satisfied

with their salary$ 1/ percentage of them agreed$ 1 percentage of them partly agreed and K of

them totally disagree that their salary is not good. %fter sur"ey it has !een found that all the

employees who are working in the #%COR are satisfied with their salaries and it gi"es good

feelings and personal accomplishment to 55 percentage of them.

2


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; /alar5 /ho4l3 .e 2i:en on the .a/i/ of perfor0ance of the e0plo5ee


TA*LE NO%

GRA#"%


RES#ONDENTS

#ERCENTAGE

(

1 trongly %gree

2 %gree 2= 2=

;artly %gree 1: 1:

/ ?isagree 1= 1=TOTAL 1== 1==


54/89

ANALYSIS %

Ma*ority of the respondents i.e.$ percentage of them strongly agree that salary are

gi"en on the !asis of performance of the employees$ 2= percentage of the respondents agree$ 1:

percentage of them partly agree and 1= percentage of them disagreed. The ma'imum num!er of

respondents are of the opinion that salary should !e gi"en on the !asis of performance and only

minimum of them disagree.

/


55/89

); Co0pen/ation co00en/4rate 1ith re/pon/i.ilit5 to all le:el/ of e0plo5ee


TA*LE NO; )

GRA#"% )


RES#ONDENTS

#ERCENTAGE

(

1 trongly %gree 2= 2= 2 %gree 5: 5:

;artly %gree 5 5

/ ?isagree : :

TOTAL 1== 1==


56/89

ANALYSIS %

Most of the respondents agreed that the compensation commensurate with responsi!ility

to all le"els of employee i.e.$ 5:percentage. >ut some of them strongly agree at 2= percentage$

partly agree at 5 percentage and disagreed at : percentage. The ma'imum num!er of respondents

are of the opinion that compensation commensurate should !e done at all le"els of employee. >ut

minimum of them disagreed.

5


57/89

7; Are 5o4 2ettin2 the /alarie/ on ti0e e:er5 0onth

(aYe/ (. No

TA*LE NO% 7

SL;NO O#TIONS NO;OF

RES#ONDENTS

#ERCENTAGE

( 1 Aes 1== 1==

2 0o = =

TOTAL 1== 1==

GRA#"% 7

:


58/89

ANALYSIS %

,n ta!le no.5$ 1==percentage of the respondents said that they are getting the salaries on

time e"ery month. 0one of them i.e.$ = percentage responded negati"ely. 1== percentage

respondents stated that they are getting the salaries on time e"ery month in company rules and

regulations.

@


59/89

9; Whether 1a2e/@ /alarie/ an3 incre0ent/ are follo1e3 e:er5 5ear


TA*LE NO% 9


RES#ONDENTS

#ERCENTAGE

(

1 trongly %gree :5 :5

2 %gree 1= 1=

;artly %gree 1= 1=

/ ?isagree / /

TOTAL 1== 1==


60/89

GRA#"% 9

ANALYSIS %

,n ta!le no.:$ it has found that :5 percentage of the respondents strongly agree$

1= percentage of them agree$ 1= percentage of them partly agree and / percentage of them

disagreed that the wages$ salaries and increments are followed e"ery year in the company. %fter

the sur"ey it has found that ma'imum num!er of respondents agreed that wages$ salaries and

increments are followed e"ery year. Minimum num!er of them disagreed with it.

5=


61/89


62/89

GRA#"% ad 1= 1=

TOTAL 1== 1==


76/89

ANALYSIS %

,n ta!le no. 1$ it is clear that only @=K of employers are saying that they are "ery happy

with the wage3salary that was pro"ided !y the #%CCOR when comparing with other industries

and 2=K of employers are saying that it is good when comparing to other industry.

:5


77/89

$7; S422e/tion/

a 5o4 1ant .etter /alar5

. More 0onitor5 .enefit/ are epecte3

::


78/89

SUMMARY

%n organi&ation has to !alance fairly financial and non financial rewards e'trinsic

awards. (ffecti"e awards and intrinsic awards. (ffecti"e reward system re)uires not only that the

a!solute le"el of compensation paid !y an organi&ation compares fa"ora!ly !ut also en)uires that

it satisfies the principles of internal e)uity and e)uity with the *o! content. The employees gets

pay satisfaction of the percei"ed salary is e)ual to actual salary recei"ed and actual salary is less

than percei"ed salary the employee is dissatisfied with the salary. The remuneration paid !y theemployer for the ser"ices of hourly$ daily$ weekly and fortnightly employees.

The remuneration paid to the clerical and managerial personnel employed on monthly

or annual !asis. ,t is the amount of remuneration for unit of time e'cluding incenti"es$ o"ertime

pay etc. ,s the amount of wage fi'ed for the unit of time fi'ed on the !asis of *o! e"aluation

standards. ,s an assem!ly of all properly e"aluated standard wage rate set from in the se)uence

:@


79/89

according to the *o! and si&e of the rate. Refer to compensation gi"en to the employees o"er and

a!o"e wage rates which often is not directly related to output performance of time worked refer

to special rates to certain period such as o"er time$ undays and holidays.

The o!*ecti"e of wage and salary administration is numerous and sometimes conflict

with each other. Candidates decide upon their career in a particular organi&ation mostly on the

!asis of the amount of remuneration the organi&ation mostly on the !asis of the amount of

remuneration the organi&ation offers )ualified and competent people *oin the !est paid

organi&ation. The organi&ation should aim at payment of salaries at that le"el where they can

attract competent and )ualified people. ,f the salary does not present compare fa"ora!ly with that

of other similar organi&ation. (mployees )uit the present one and *oin the other organi&ation.

The organi&ation must keep the wage le"els at the competent le"el$ in order to pre"ent

)uite. ,nternal e)uity does mean payment of similar wages for similar *o!s within the


organi&ation.

To protect in pu!lic as progressi"e employers and to comply with the wage



role administration of !udgeting and wage and salary control. To simply collecti"e !argaining






performance of the indi"idual employees. ,ndian #erro %lloy ,ndustry is not as old as the teel

,ndustry. #rom a hum!le start in the fifties the capacity has grown enormously with enough

potential to increase e'ports in future. Howe"er$ the high power tariff in ,ndia is the stum!ling

!lock. Though the industry started getting power from 0ational ;ower Corporation at 0T;C

tariff$ it is still higher than the power tariff a"aila!le in countries like 0orway$ China$ and Russia$

Da&akhstan etc.$ which are a ma*or producers and e'porters of #erro alloy too.

What is more$ the import duty on #erro alloy has also !een reduced drastically to 2

per cent in the post E li!erali&ed era. #urther$ steel e'porters are eligi!le to import their raw

:


80/89

material including #erro %lloys free of duty against ad"ance license. With plenty of raw

materials like ores and reluctant a"aila!le in the country$ what the industry needs is a le"el

playing field !y power !eing made a"aila!le at international compara!le tariff. The ,ndian #erro

%lloy ,ndustry is more than four decades old$ as produces >ulk and 0o!le #erro %lloys.

Through this ,ndustry is not as old as the steel industry$ its capacity has increased

su!stantially from a hum!le start in the fifties$ meeting the re)uirement of the steel industry in

the country. The growth of the steel industry has not picked up as e'pected$ whereas the growth

of the #erro %lloy ,ndustry has stepped up$ much more than the e'pected le"el. With the result$

the capacity a"aila!le in the country is much more in the #erro %lloy ,ndustry.

,t is a lot of potential to increase its e'ports in the near future. ,ndia has !een !estowed

with ade)uate resources of all !asic raw materials re)uired for the production of Manganese$

ilicon and Chrome %lloys. Most of the #erro %lloy Fnits ha"e come up in the si' tates %ndhra

;radesh$ Madhya ;radesh$ Maharashtra$ Orissa and West >engal$ mainly due to a"aila!ility and

or pro'imity of the raw materials. #erro %lloys is a power intensi"e industry.

The total connected load of the industry has grown almost @ to times from 1= MG%

in the mid si'ties to o"er 1=== MG% as on date. With the result$ the installed capacity of the

industry is 1. million tones of >ulk and 0o!le #erro %lloys. Capacity of Manganese %lloys is

around :==$=== tones. #erro ilicon 1:.=== tones and #erro Moly!denum$ #erro Ganadium$

#erro Tungsten$ ilicon Magnesium$ #erro Titanium$ #erro ;hosphorous$ etc.$ around 2=$===

tones. #%COR was esta!lished as a pu!lic limited company !y the families of H%R%#+ and

MOR+.

,n the History of #erro %lloys$ this has !ecome the first of its kind and a ma*or producer

of #erro Manganese in the country. #%COR is not only a leader in the field of #erro %lloys$ !ut

also produces special steels of high standard. ,ts di"ersified acti"ities e'tended !eyond mining

and production of #erro %lloys$ to making the special steel and em!race the production and

manufacture of synthetic yarn and mai&e products. 6ow #erro Chrome was imported to ,ndia

until 155 to meet the demand of steel industry. Then$ #%COR has step up a #erro Chrome plant

with two furnaces ha"ing capacity of a!out 12===mt low3high Car!on #erro Chrome to

su!stituted the imports of #erro Chrome and meet the domestic demand along with #erro

Manganese ;roduction and sa"ed lot of "alua!le foreign occupies the first position as producer

and e'porter of #erro %lloys$ in the country. ,t is a pride for the organi&ation for such credentials.

@=


81/89

,t is the country+s first #erro %lloys ;lant. ,t is the first plan to inno"ate and introduce

Chromium %lloys and also the only single unit to meet country+s re)uirements. ,t is the first unit

to produce Magnesium #erro ilicon.,t is the first to take up the erection and commissioning of

the wholly indigenous furnace without any foreign component or consultancy. The first in the

country+s to e'port #erro Manganese. ,t is the first among the "arious #erro %lloys$ producing

unit to take up the manufacture of low Car!on #erro %

#%COR has !uilt up a good track record and de"eloped into ,ndia+s largest

manufacturer and e'porter of #erro %lloys$ and maintained this position o"er the time. ;ersonnel

?epartment. The personnel department plays a "ital role in the organi&ational climate of any

organi&ation. The personnel department of #%COR has also drawn clear guidelines for personnel

policies and procedures$ their !y setting up an atmosphere of mutual confidence and respect.

Thus it helps to de"elop harmonious relations !etween management and the work force.

% thorough *o! analysis is under taken and then e'isting employee pool is referred and

matches to the re)uired employee )ualities with *o! specification$ if it matches the employee is

assigned the *o!$ if not a new candidate will !e introduced into the organi&ation. One of the !asic

raw materials for #%COR is power$ which constitutes shortage$ and hea"y and continuous power

cuts and low "oltages$ production hampered and there were hea"y losses due to non a"aila!ility

of finished goods at re)uired time. o #%COR planned to esta!lish its own power generate plant

during 1=B1 and the cost of generation is almost =K of cost of power supplied !y %;(>

power generated in the plant is meeting also =K of the #%COR re)uirement.

The !asic raw material for power plant lu!ricants is produced from H;C6 Gi&ag.

The #%COR pro"ides employment nearly for 1==== employees and has !een instrumental in

!uilding industrial township of hreeramnagar 7%.;9 ?urgaprasad and ri ?urgapur 7Orissa9.

The raw materials are smelted3heated to 1== to 2===c and then alloys are trapped from electric

arc furnaces in molten states$ at prescri!ed inter"als$ along with the !yeBproducts which are

called slag. The melt is separated into metal and slag and collected in receptacles. %fter cooling

the metal and slag are handled separately.

The organi&ation must keep the wage le"els at the competent le"el$ in order to

pre"ent )uite. ,nternal e)uity does mean payment of similar wages for similar *o!s with in the


organi&ation. To protect in pu!lic as progressi"e employers and to comply with the wage

@1


82/89



role administration of !udgeting and wage and salary control. To simply collecti"e !argaining






performance of the indi"idual employees.

The raw materials are smelted3heated to 1== to 2===c and then alloys are trapped

from electric arc furnaces in molten states$ at prescri!ed inter"als$ along with the !yeBproducts

which are called slag. The melt is separated into metal and slag and collected in receptacles.

%fter cooling the metal and slag are handled separately.

The adoption of )uality management system should !e a strategic decision !y the

top management of an organi&ation. The design and implementation of an organi&ation+s )uality

management system is influenced !y "arying needs$ particular o!*ecti"es$ the products pro"ided$

the processes employed and the si&e and structure of the organi&ation. This international standard

is !ased on eight )uality international standard to imply uniformity in the structure of )uality

management systems of uniformity of documentation.To identify and meet the needs and

e'pectation of its customers and the interested parties 7people in the organi&ation suppliers$

owners$ society9 to achie"e competiti"e ad"antage $ and to do this effecti"e and efficient manner

and to achie"e$ maintain$ and impro"e o"erall organi&ational performance and capa!ilities.

The application of )uality management principles not only pro"ades direct !enefits

!ut also makes an important contri!ution to managing costs and risks. >enefit$ cost and risk

management considerations are important for the organi&ation$ its customers and other interest

parties.

#%COR has performed well during last four decades and its turno"er is a!out Rs.$

===3B million and is further seeking to di"ersify into other fields namely metallurgical$ petro

chemicals$ chemical food !ased products etc. #%COR is well known nationally and

internationally for 52= million Rupees.

@2


83/89

%s a pioneer$ the company has always !een eager to utili&e the opportunities for

growth and di"ersification in the related areas and for that reason #%COR has ac)uired3set up a

miniBsteel plant at 0agapur 7Maharashtra9 to produce )uality steel. % charge E chrome plant

located at ?.;. 0agpur$ randia$ dist. >alasore$ costing around / crores. This is a 1==K ('port

Oriented unit with a production capacity of =$=== tones per annum.

The employee pro"ident #und and miscellaneous pro"isions %ct 12$ is a social

ecurity %ct. ,t was mainly passed with a "iew to make some pro"isions for the future of the

indi"idual workers after his retirement or for his dependents is case of early death. ,t is also

framed to inculcate the ha!it of sa"ing among the workers for the further contingencies.

The main o!*ect of this act pro"ide su!stantial security and timely monetary !enefit and

assistance to indi"idual employee and their families when there are pro!lems in need some

assistance to meet their family and school o!ligations$ and also to protect them$ when they

!ecome older$ disa!led or and in case of early death of the employee and also in meeting some

other contingencies.

The capacity increase of the #erro industry in general$ followed the course to meet the

planned target of steel industry in the country$ and also to remain potential e'porters of #erro

%lloys in the international market to earn su!stantial foreign e'change for the country. Howe"er$

the performance of the industry started deteriorating from the midBsi'ties$ due to "arious reasons$

the foremost !eing$ steep increase in the power tariff$ fuel$ oil$ raw materials and transport

charges.

('ports started sliding from 1:@ onwards. The eighties witnessed the ma'imum

erosion in the e'port performance of the #erro %lloy ,ndustry. Howe"er$ after init

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