Payroll System of Manufacturing Company Essay

Payroll is the elemental accept for an employee but employees need to a greater extent to carry step forward them. For that reason employers take for granted over to take sundry(a) kinds of remuneration techniques. Manufacturing companies be non beyond that. S. Nahar Garments, a sister concern of mohammadi Group, is one and only(a) of them. Currently this congregation doing their patronage in garments sector only. They bequeath different types of incentives it their run awayers with take. Incentives capture on employees to their duties and eliminate dissatisfaction. By incentives employees can be motivated and nark the best output signal from them.It means producers can append their issue by giving remuneration to their employees. In this assignment we tried to find out roughly the prosecute-plan of this corporation. We possess as well as t entirelyy to know that Bangladesh Government has amended the job rightfulness. So, each producer has followed that rules. Moreover we have some recommendation to improve incentives techniques for ontogeny production and motivate role players. BRIEF account Readymade garments sector is one of the most say-so sectors of Bangladesh. 75 percent of the export tax income is earned from the readymade garments sector.S. Nahar garments is one of the active gild in the garments sector to contribute in the earnings of foreign exchange. The company is a sister concern of Mohammadi group. It is an ISO 9001cc2 certified validation. It was ceremonious in 1985. Mohammadi group is one of the famous companies in Bangladesh. This group contributes a conduct in the garments sector of Bangladesh. This group has some(prenominal) garments in different beas in Bangladesh. The passing office of Mohammadi group is located at Motijheel in Dhaka. Its factories are scattered in different areas in Bangladesh.It has factory in Badda, Mirpur, Naraynganj, Savar, Kanchpur, Adamjee EPZ and other different areas. All r eadymade garments produced from these factories are exported to Europe and northeast American marketplace. 60 percent of its products are exported to European market and rests of the 40 percent are exported to North American market. Business Tycoon Md. Habibur Rahman is the owner of this group. Couple of years ago this group has real estate business besides. and now real estate business has been sepa come ind from this group. OBJECTIVES OF THIS REPORT E rattling permit word has an objective. Our field of honor is non separate from that.The universal objective of this identify is to identify the salary plan of a manufacturing company. We make this field on S. Nahar Garments (a manufacturing company) for preparing the incentive lease plan. similarly such field of study gives the opportunity to rig out a real business report that leave behind help us to makes report in future for companies. SCOPES OF THE STUDY This study was an opportunity for us to know about the wag e plan and incentives in manufacturing company. We also gather cognition about hollow demands, and how to satisfy them. This kind of information helps us to know what incentives would be effective.All this knowledge will be helpful in our future career, when we will be a production manager or enterpriser in manufacturing company. As we study onwards which incentives eliminate dissatisfaction and motivate labors. So, labors become more effective, dutiful, and sincere in their cultivate by incentives. LIMITATIONS We found that all manufacturing companies do not take same incentives plan. There are some limitations in S. NAHAR GARMENTS. These are as follows ? There is no piece work plan facility. ?They does not have hundred percent bonus plan. ? There is no group bonus plan facility. They do not have grant for dismiss We directly visit their industry and take incentives from companies Public & Administration Manager and surrogate Technical Manager. Bangladesh govt. amended the wage lawfulness few years ago. According to this law there is a minimum wage and every garments and factories must follow these rules. S. Nahar garments is not exceptional from that. It gives its players wage by avocation the wage law. There are 7 different levels/grade of workers based on training and experience. Levels Basic wage foretoken rent (30% of Basic)Medical earnings fare thoroughgoing(a) wage Grade-7 1125 337. 5 cc 1662. 50 Grade-6 1270 381 cc 1851 Grade-5 1420 426 cc 2046 Grade-4 1577 473. 1 200 2250. 10 Grade-3 1730 519 200 2449 Grade-2 2800 840 200 3840 Grade-1 3800 1140 200 5140 charter table primed(p) by The Govt. of Bangladesh The above table shows that, in Grade-7 the elementary wage of a worker is 1125 taka. He or she will get 30 percent of grassroots as a house rent and 200 taka medical allowance which is fixed. So the make out wage of a worker in grade-7 is 1662. 50 taka. And this is the minimum wage rate for every garments and factory.As same as th e basic wage of a worker in Grade-6 is 1270 taka and contribute wage is 1851 taka. The basic wage of a worker in Grade-5 is 1420 taka and total wage is 2046 taka. In Grade-4 basic wage is 1577 taka and total wage is 2250. 10 taka. In Grade-3 basic wage is 1730 taka and total wage is 2449 taka. The basic wage for Grade-2 and 1 are 2800 taka and 3800 taka respectively and total proceeds are 3840 taka and 5140 taka respectively. So in every grade the worker will get a basic wage, plus he or she will get 30 percent house rent of basic and 200 taka fixed medical allowance.Bangladesh govt. follows the side by side(p) rule to set up a workers total wage in every grade. Total Wage = Basic wage + (Basic wage ? .3) + 200 House rent Medical allowance S. Nahar Garments community also gives some bare benefit to motivate its workers. It gives its workers 100 taka as attendance allowance. In this garments every worker has to work 6 eld in a week and rest of the day is holiday for the worker. If any worker is nonplus all the working days so he or she will be given 100 taka as attendance allowance.If he or she in 2 or less than 2 days then he or she will get 50 taka as attendance allowance. If any worker is absent in more than 2 working days then no attendance allowance is applicable. This allowance is on monthly basis. The company also provides bonus on the braw season. That means on Eid, Puja the worker gets 50 percent bonus on his gross wage. There are overtime facilities for the workers in this garment. Every worker has to work 8 hours in a day and 48 hours in a week. He or she is allowed to work up to 60 hours in a week. For the overtime hours he or she will get 2 quantify wage of basic.This company does not provide any production bonus. The garments company also provides some others facilities. It provides drugs for its sick workers. The female workers get 16 week leave as maternity benefit. There is also a daycare centre for those female workers who have chil dren RECOMMENDATION From the survey in S. Nahar Garments, we perk up that their incentives wage plan is not practically encouraging. So we advise that, they should provide launch allowances and follow the piece work plan. By using this plan they can cast up their production. It is using motivation of labors.Because piece work plan give value of the labors work, and make up their wage. This plan also increases production, which can spawn companys revenue. That means increase profits. So this plan will be effective and profitable for the company refinement At the end of the report it is kinda evident that the wage plan of the S. Nahar Company is not very high. But, to increase this the likely S. Nahar Garments must plan its way very carefully. We have formulated all the strategies involve to gain substantial wage plan. at one time S. Nahar Company must follow all those strategies.Any lack of commitment in S. Nahar Garments part would result in a disaster. But after establi shing themselves in organization they must not feel like winners. Making a greater wage for employees is not the end of the story it wont be living blithely ever after. Because it is nothing about the pantywaist tales, rather the real world that is acquire more and more dynamic and shy and where it is to believe that problems are there perpetually but along with the solutions. It is just the opening night that should be taken at that importation to find the solution.