Benefit to employees Essay

In a professional course like IMPAIR , the significance Of practical knowledge through training is enormous. During this period, one gets an opportunity to learn about the corporate activities as well as field activities in a clear way. In other words the training offers an opportunity to learn and develop managerial capabilities. This sort of study has given me a real exposure of the benefits the employees gets at BANANAS BEADS LTD. It has been my best and sincere effort to collect information from various sources -though the time limit was short I have tries my best to do the justice.

Any errors and omission that might have occurred are totally unintentional and unfortunate. I shall always be obliged to everybody whoever put his/her valuable comments on this report. Brief content S. NO 2. 3. 4. 5. 6. 7. 8 9. 10 11. 12. CONTENTS Company profile Introduction to employees Benefit Employees’ State Insurance Act, 1948 Employees’ provident fund act 1 952 The factories act, 1 948 The Payment of bonus act , 1965 The Maternity act, 1951 The Payment of Gratuity Act, 1972 Research methodology Data analysis and interpretation Findings and Recommendations

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Bibliography PAGE NO 8-15 16 17-24 25-30 31-35 36-43 44-45 46-50 51-53 54-69 70-71 72 COMPANY PROFILE BACKGROUND M/S Bananas beads Ltd established in the year 1940 is a pioneer in the field of glass beads industry of India. Today it is one of the largest exporters of glass beads holding 80% of market share of Indian’s glass beads export. The company has earned several laurels and awards for consecutive years from national and international bodies like chemical allied products ‘carpets ‘silk/ handicrafts export promotion council (India). The company has won president f India award for excellence export in July 1997.

The company is an export house recognized by government of India, ministry of commerce and industries. The main business is export of handicraft like glass beads, necklaces etc. As well as carpets and other related items. The company manufactures and exports quality product of glass beads, necklaces, imitation jewelry, task, fashion accessories and wide range of handicraft item etc. .Company has set up manufacturing unit at Tania near Varnish where imported exclusive machinery are installed with Czech technical knowledge or manufacturing of glass buttons and international standard.

It believes in long term relationship. HISTORICAL BACKGROUND How the ABLE has taken birth in Varnish is an interesting story. AS Mr.. Gymkhana Ala Guppy, the founder of this firm, was very much interested in the development of the industry, was always in search of a renowned technologist. Fortunately Mr.. And Mrs.. Henries, two renowned technologist of Czechoslovakia our country. According “Messes” Bananas Beads manufacturing company was established in 1940. Later it was incorporated as a private limited company on 10th April 1980.

Subsequently it became a deemed public limited company by virtue of section 43(A) (l) of the Companies ACT, 1956 and obtained a certificate with a changed name “Bananas Beads Limited” and on tachometer , 1994 the company was converted into a public company. The company initially commenced its operations with manufacturing of glass beads imitation jewelry and then diversified into wooden products, various silk products; hand knotted woolen carpets and druggists, handicrafts & leather garments . The glass beads and carpet division functions from the work site located at Industrial

Estate, Varnish and later with expansion of carpet division , the company acquired land and a constructed a full-fledged workshop at Tad, to carry out the finishing activities of carpet division. The company’s export turnover during 1989-1990 was proxy. 92. 5 million but during the current fiscal year it has reached up to the mark of about 1 50 million.