The various monetary and non monetary variables management essay

As of being an MBA students, certain research practices in the area of management is highly required to make you fare and confident enough on applying your strategic skills and to perform each of your potential by using your knowledge what you have learnt for the entire three semesters of an MBA. Research Project itself provides the perfect platform for the students pursuing MBA, that to use their analytical skills for the primary data as well as secondary data, Interpretations or arguments on various policies and other regulatory authorities in relation with the company taken for the study. MBA is considered as a highly professional program in the business world, and so that company expect to get out the maximum from the MBA in the practical world and here such kind of research projects helps students to be conceptually clear at theories what they have learnt and can better relate them with the real business world, which builds their knowledge and decision power in real practice. As part of the curriculum, students have to do research of a particular company and simultaneously find out the opportunities and threats for the same company. It enables students to implement theory of teamwork and leadership in practice so that they can make their report outstanding and effective. And for the same, we have done our comprehensive Project on ” GAIL”.

ACKNOWLEDGEMENT

We would like to admit and be grateful from the deepest portion of our heart to all the people who were always behind us, whenever we needed any help for successful completing of our report. To start with We would like to thank our institute PARUL INSITUTE OF MANAGEMENT AND RESEARCH for providing us this opportunity. We specially remember and extend our humble words of thanks to our internal guide Prof. Kosha Nair for her guidance. We are also thankful to our parents, classmates and friends who were in some or other way helpful to us in successfully completing this research study.

DECLARATION

We hereby declare that this project report titled ” Monetary and non-Monetary variables given to employees at GAIL” has been successfully completed at GAIL., student of ” Master of Business Administration” from Parul institute of Management and research , affiliated to Gujarat Technological University. This is an original manuscript developed by us and has not been furnished from any source thereof.

Date:

Location: VADODARA

OBJECTIVE OF STUDY

To study the monetary and non-monetary practices in a well established organization. To evaluate effectiveness of the monetary and non-monetary policies. To find out the satisfaction levels of the employees with the current system.

EXECUTIVE SUMMARY

The purpose of this report is to summaries our comprehensive project report for our evaluation. This project was done at GAIL LTD. in this report We have detailed the industry analysis and company analysis and the target market. These are also correlated With the concepts taught in first year of MBA. The project given and the work done has been explained in the report later. The final result, conclusion, achievements and expectation have been mentioned in the closing of the report.

LITERATURE REVIEW

The term Non-Monetary reward as a synonym to incentive and bonus. Oxford dictionary defines reward as: ” a thing given in recognition of service, effort, or achievement”. Oxford dictionary also use the synonyms: ” recompense, prize, award, honour, bonus, premium, gift, payment; informal pay-off, formal perquisite”. Recognition and rewards play an important role in work unit and agency programs to attract and retain their employees. It is the day-to-day interactions that make employees feel that their contributions are appreciated and that they are recognized for their own unique qualities. This type of recognition may contribute to high morale in the work environment. So, it’s extremely important that managers, who communicate the agency goals to employees, are included in the development of recognition programs. Non-monetary rewards and recognition is a means of providing immediate, non cash rewards to employees for contributions to the organization. We have all heard the statistics on how staff members like to be recognized and rewarded for doing a good job. That a pat on the back or a ” thank you” can mean more to a person than any amount of money. But actually putting a system into place can be easier said than done. Employee Reward covers how people are rewarded in accordance with their value to an organization. It is about both financial and non-financial rewards and embraces the strategies, policies, structures and processes used to develop and maintain reward systems. The ways in which people are valued can make a considerable impact on the effectiveness of the organization, and is at the heart of the employment relationship. The aim of employee reward policies and practices, if any the organization is to help attract, retain and motivate high-quality people. Getting it wrong can have a significant negative effect on the motivation, commitment and morale of employees. Recognition is the most cost-effective motivator there is. While the high cost of other rewards forces us to give them sparingly, recognition can be given any time, at very little cost. Recognition is a leadership tool that sends a message to employees about what is important to the leaders and the behaviors that are valued. Managers can use this tool to help employees understand how their jobs contribute to the agency’s overall goals and how their performance affects the achievement of those goals. Often people have come to accept the notion that an employee is paid to do their job. So why should they be praised for doing what they’re paid to do? Praise of an employee reinforces, recognizes and motivates behaviors that you, as the manager, want to see. To ensure that employees tie recognition into the work unit or agency’s strategic goals, be certain to tell employees what they did right and how it interacts with the goals. Include supervisors and employees in the development of your recognition program to represent the values and goals of a diverse cross-section of the work unit or agency. Provide the opportunity for recognition to come from a variety of sources. . For many employees, recognition received through the expression of genuine appreciation for the work they do is a reward. Being involved in a project or receiving special training may be another’s reward. Make no mistake, however, that most employees would not turn down a monetary, non-monetary or recognition leave reward! Non-Monetary Reward is the benefit received for performing a task. Total reward embraces everything that employee’s value in employment relationship. It means all the tools available to the employer that may be used to attract, motivate and retain employees. That Wichita State study also determined that the top five motivating techniques were: Personally congratulating employees who do a good job. Writing personal notes about good performance. Using performance as the basis for promotion. Publicly recognizing employees for good performance. Nelson adds that informal rewards make more of a positive impact with employees and are cost effective. In most cases, the simpler the better. According to the ” People, Performance and Pay” study by Houston, Texas-based American Productivity Center and the American Compensatory Association, it generally takes five to eight percent of an employee’s salary to change behavior if the reward is cash and approximately four percent of the employee’s salary if the reward is non-cash. Petroleum marketers have used informal rewards to recognize their employees’ good works. Chevron (San Francisco, CA) keeps a large box, secured with a padlock, filled with gifts. An employee being recognized on the spot for some accomplishment is brought to the ” Treasure Chest” by his or her supervisor, who holds the keys. The employee gets to choose an item from the box, which could be anything from a gift certificate, to a coupon for lunch or dinner, to movie ticketsMobil (Fairfax, VA) has formed a partnership with Carlson Marketing Group where employees can go on shopping sprees inside Carlson’s distribution center in Dayton, Ohio. Mobil officials consider the program an exciting alternative to employees selecting merchandise from a catalogSome of the most effective ways to reward your employees is to simply say thanks for doing a great job, giving them a birthday card, or keeping them posted on changes at work that directly affect them. Remember those gold stars that the 1st grade teacher put on your report? It may indeed sound childish on the surface, but people really do like to receive a gold star every now and then for a job well done. Other Inexpensive Ways to Reward Employees¨A thanks can be said¨A handwritten note can be dropped to them¨A program can be named after the employeesThe staffs can be praised at staff & other public meetingsA new training programs can be created for the staff

HISTORY OF GAIL

GAIL (India) Ltd. (erstwhile gas Authority of India Ltd), India’s principal gas transmission and marketing company, was set up by the Government of India in August 1984 to create gas sector infrastructure for sustained development of the natural gas sector in the country. The 2800 km Hazira-Vijaipur-Jagdishpur (HVJ) pipeline became operational in 1991. During 1991-93, three LPG plants were constructed and some regional pipelines acquired, enabling GAIL to begin its regional gas distribution in various parts of India. GAIL began its city gas distribution in Delhi in 1997 by setting up nine CNG stations, catering to the city’s vast public transport fleet. In 1999, Gail set up northern India’s only petrochemical plant at Pata. GAIL became the first Infrastructure Provider Category II Licensee and signed the country’s first service Level Agreement for leasing bandwidth in the Delhi-Vijaipur sector in 2001, through its telecom business GAILTEL. In 2001, GAIL commissioned world’s longest and India’s first Cross Country LPG Transmission Pipeline from Jamnagar to Loni. GAIL today has reached new milestones with its strategic diversification into Petrochemicals, Telecom and Liquid Hydrocarbons besides gas infrastructure. The company has also extended its presence in Power, Liquefied Natural Gas re-gasification, City Gas Distribution and Exploration & Production through equity and joint ventures participations. Incorporating the new-found energy into its corporate identity, Gas Authority of India was renamed GAIL (India) Limited on November 22, 2002.

DEARNESS ALLOWANCE

Though it is paid to compensate the employee against general price rise in the economy, it is wholly taxable. It is treated as part of salary. In GAIL, Dearness Allowance payable to both Executive and Non-Executive will be on Industrial pattern and will be regulated in accordance with the instructions issued by Department of Public Enterprises on the subject from time to time. DA admissible to the Executives effective amounts to Rs. 1003. 75. Similarly, DA admissible to Non-Executives amounts to Rs. 1130. 80.

HOUSE RENT ALLOWANCE

These rules will apply to all employees in the regular pay scale of the company who are not provided with accommodation by GAIL at the place of posting are entitled to House Rent Allowance at the following rates : Class of city (Place of Rates of HRA Ceiling for Drawal ofposting) HRA Without Productionof Rent Receipti) Delhi/Bombay Executives 30% of Rs. 1000/-P. M. basic pay. Non-executives30% of basic pay. ii) Other `A’ Class Cities Executives- 25% of Rs. 1000/-P. M. basic payNon-executives25% of basic pay. iii) B-1 & B-2 Class Cities Executives- 15% of Rs. 1000/-P. M. basic payNon-executives17. 5% of basic pay. iv) ‘ C’ Class Cities Executives- 10% of Rs. 500/-P. M. basic payNon-executives15% of basic pay. v) Un-Classified Cities Executives- 10% of Rs. 300/- P. M. basic payNon-executives15% of basic pay.

Employee Owing House

An Employee living in a house owned by him, his wife, children, father or mother shall also be eligible for HRA under these orders: The grant of HRA referred to above will be subject to the fulfilment of the same conditions as applicable to and employee residing in private rented accommodation. In case of an employee who owns a house at a place of duty but resides in a rented house, HRA shall be paid in respect of the rented house, if otherwise admissible.

CANTEEN SUBSIDY

All employees of the company borne on regular establishment and company trainees at work centres where on departmental canteen has been provided are eligible for this subsidy. The following categories of employees are also eligible for canteen subsidy. ProbationersDeputationistsAll eligible employees as above are entitled to a fixed amount of Rs. 100 per month as subsidy towards lunch and tea etc. while on duty.

GENERAL CONDITIONS

Canteen subsidy will be discontinued as and when departmental Canteen is provided at any work centre. Canteen Subsidy will not be payable if the employee is on leave or absent for a full calendar month

TRANSFER BENEFITS

Every employee of the company will be liable for transfer from one Office / division / Work centre to another as and when required by the company in exigency for service. Such transferees will be eligible unless otherwise stated for the transfer benefits as below: Masculine gender also refers to feminine gender.

ENTITLEMENTS

JOINING TIME :

Joining time upto a maximum of 8 days inclusive of intervening Sundays / Holidays plus journey period. Journey period admissible will be determined on the following basis : Railway : One day for each 500 km. or fraction thereof. Ocean Steamer : One day for eachRiver Steamer : One day for each 150 km or fraction thereof or any longer time actually incurred in the journey. Motor Vehicle : One day for each 150 km or fraction thereof. In any Other Way : One day for each 25 km or fraction thereof. The joining time shall commence from the date of reimbursement of charge of the post if the charge id handed over in the forenoon or the following day it the charge is handed over in the afternoon.

REIMBUERSMENT OF HOTEL EXPENSES :

Employees on transfer will be reimbursed lodging charges for self and family at rates fixed for stay in Hotels at such place as per TA entitlement for a maximum initial period of 15 days from the date of joining at the new station, if company accommodation is not provided.

TRANSFER BENEFITS PAYABLE ON TRANSFER FROM CORPORATION OFFICE TO NOIDA OFFICE AND VICE-VERSA :

The following benefits are admissible to an employee transferred from Corporate Office, New Delhi to Noida Office or vice-versa subject to the condition that the employee actually shifts his residential accommodation from Delhi to Noida and vice-versa: One day joining time¼ of the transfer grant as admissible under these rulesActual journey fare by the entitle mode of road travelTransportation of personal effects by roadLoading and unloading charges as admissible under these rules andTransportation of conveyance, if owned by the employee under own propulsion. Allowance, reimbursement of hotel expenses and insurance states for luggage in transit will however not be admissible.

CHILDERN EDUCATION ASSISTANCE SCHEME

It does not apply to persons employed on contract, casual, ad-hoc and part time basis. The following type of assistances are covered under the scheme : Children Education AllowanceMerit ScholarshipSpecial AwardHostel SubsidyReimbursement of Bus/ Transport chargesAn employee of the company shall be eligible for reimbursement the tution fee and other compulsory charges including stationery charges as mentioned below : For wards up to 12th standard reimbursement of fees actually paid upto a limit of Rs. 60 per month per child subject to a ceiling limit of Rs. 180 per monthn per employee. Within the ceiling limit mentioned above i. e. Rs. 60 per month per child and Rs. 180 per month per employee, the fixed amount per child for books and stationery shall be reimbursed as under : Upto 4th standard- Rs. 80 per annumFrom 5th to 9th standard- Rs. 110 per annumFrom 9th standard to 10th- Rs. 140 per annumStandard in a school upto10th standard and in aSchool under Higher SecondarySystem upto 12th standard.

SPECIAL AWARD :

All employees of the company who have completed at least 1 year of service in the company are eligible to avail this concession provided their ward have secured positions amongst first ten on the overall meant list of the board university concerned. The quantum of special award per child subject to maximum of three children for various courses is as under : New SSC etc. Examinations.- Rs. 550Intermediate / HSC etc. Examinations- Rs. 750Degree Examinations- Rs. 750Post Graduate Examinations- Rs. 750Professional Course Examinations- Rs. 1000Viz. Medical/ Engineering etc. All India Competitive Examinations- Rs. 1000Viz. Central Services, MBA, CA etc.

HOSTEL SUBSIDY :

The rates of hostel subsidy payable in advance are as under : For children studying in class V to- Upto a limit of Rs. 175 per month perClass XII. Child subject to a maximum of Rs. 350Per employee per month. For children studying in Degree/- Upto limit of Rs. 275 per month perPost Graduate and Professional child subject to a maximum of Rs. 550Course. Per employee per month. Actual charges will be admissible in cases where total monthly charges of the hostel are less than the amount specified above.

REIMBURSEMENT OF BUT / TRANSPORT CHARGE :

Employees posted at places where provision of Bus / transport facilities by the company is not feasible, are eligible for this facility. Bus / Transport charge upto a limit of Rs. 50 per child per month with a maximum of Rs. 100 per employees per month or the actual expenditure incurred whichever is less will be reimbursed subject to bus / transport charges/ tickets etc. along with residential address of the school. Providing that the above facility will be admissible upto a maximum of three children within the limits as specified above. Provided further that no charges for the period of summer vacation will be reimbursed but if however a school runs its own buses and claims bus charges for the period of vacation, the same will be reimbursed.

City Compensatory Allowance

Eligibility

All regular employees of Gail and probationers (excluding those appointed on casual/daily- rated/contract basis) but including company trainees unless their specific services condition exclude same.

Entitlement

Eligible employees posted at cities classified as ‘ A’, ‘ B-1’ and ‘ B-2’by7 Central Government will be entitled to city compensatory Allowance at the following rates: Class pay rates of CCA‘‘ A’ Rs. 1156/- & above 6% of pay subject to a maximum of Rs. 100/- P. M‘ B-1’ Rs. 1156/- & above 4. 5% of pay subject to a maximum of Rs, 75/- P. M‘ B-2’ Rs. 1156/- & above 3. 5% of pay subject to a maximum of Rs. 20/-P. M

GENERAL CONDITIONS

The term ‘ pay’ as stated above will include in addition to basic pay, special pay, personal pay, deputation allowance. CCA at the above rates will be admissible from the date of joining duty at the places mentioned above. Where project Allowance is granted no CCA will be payable. Payment of CCA will be regulated in terms of the instruction issued by the Govt. of India from time to time.

Death-cum-Retirement Gratuity Scheme

SHORT TITLE

This scheme may be called ‘ GAS AUTHORITY OF INDIA LIMITED death-cum-retirement Scheme.

APPLICABILITY

This scheme shall be applicable to all regular employees of the Company including chief executive and full-time Functional Directors and Ex- servicemen but exclude the following:-Govt. employees and others employed on deputation term. Employees working on contract basis. Casual & Daily rated employees. Apprentice and Trainees whether engaged under the Apprentice Act. 1961 or under company’s own training scheme. Employees covered under the payment of Gratuity Act. 1972. Person re-employed after attaining the age of 58 years.

SCOPE

Gratuity shall be granted to the whole-time employees for goods, efficient and faithful service.

DEFINITIONS

Company’ means GAS AUTHORITY OF INDIA LIMITED. Continuous service means uninterrupted service in the company and includes service which may be interrupted by authorized leave or cessation of work not due to the fault of the employee. Emoluments for the purpose of scheme would mean ‘ pay’ as defined here under plus Dearness Allowance and other relief which may be treated as pay by order of the company which an employee was receiving immediately preceding the date of leaving service or preceding the date of his death. Superannuation means the retirement of employee from company’s service on reaching the age of 58 years or such extended period as may be prescribed by the competent Authority. Qualifying services means continuous services rendered in the company after the completion of 18 years of age and does not include the period of service rendered as an apprentice or as trainee and the period of extraordinary leave without leave salary, if any.

CONDITIONS FOR GRANT OF GRATUITY

Subject to the provision mentioned here in the fire and here in after gratuity shall be paid to the employees of the company for good, efficient and faithful service andshall be granted in the following circumstances:-Discharge on abolition of the post. Permanent incapacity due to physical or mental infirmity. Superannuation. Resignation/Retirement after 5 years’ qualifying service. Death of the employee while in the service of the company. When employee moves from GAIL to the another Public Enterprise with the consent of the Management of both the Organizations, GAIL would extinguish its liability towards gratuity payment in respect of the service rendered by the concerned employee by making lump-sum payment equivalent to the gratuity earned by him in GAIL as if employee has retired from the service of the date on which the employee is relieved from GAIL.(a)Gratuity will not be paid an employee against whom disciplinary action/proceeding at the time of resignation/retirement etc.(b) the gratuity of an eligible employee whose service have been terminated for any act, wilful omission or negligence causing damage or loss to or destruction of property belonging to the company shall be forfeited to the extent of the damage or loss so caused.(c) Gratuity payable to an employee may be wholly or partially forfeited by the company:-If the service of such an eligible employee have been terminated for any act which constitute an offence involving moral turpitude provided that such offence is committed by the employee during the course of his employment.

RATE OF GRUITY PAYABLE EXCEPT IN CASE OF DEATH

Gratuity will be equal to 15/26 days emoluments for every completed year of service or part thereof in excess of six months subject to a maximum of 16 1/2 time the emoluments last drawn or Rs. 1, 00, 000/- whichever is less. RATE OF GRATUITY PAYABLE IN CASE OF DEATHIn case of death, the amount of gratuity will be as calculated under rule 6 above or as worked out below whichever is more:-During the first year of service 2 months emolumentsAfter one year but before 5 6 months emolumentsAfter completion of 5 year 12 months emoluments service but before 20 years serviceService of 20 year and more Half a months’ emoluments for completed half year of qualifying service subject to a maximum of 33 times the emoluments provided the amount of death gratuity shall in no case exceed one lakh rupees

REGULATION OF GRATUITY IN RESPECT OF PERSO JOINING GAIL FROM OTHER PUBLIC SECTOR UNDERTAKINGS

GAIL will accept pro-rata gratuity in respect of person who may join GAIL from other PSU after applying through proper channel provided the PSU agree to transfer the pro-rata gratuity to GAIL. In case where the gratuity is transferred to GAIL the total gratuity admissible in respect of such employee will be regulated as per provision of the scheme only referred to here in before and after and the employee will have no claim on the provision as applicable in the parent/previous organization from where the same was transferred.

GENERAL

INCOME TAX/DUTY ETC. PAYABLE BY THE EMPLOYEEIn case of tax super tax any of the tax/duty if any payable on the amount of gratuity the same shall not be borne by the company but shall be deducted from out of the gratuity amount payable. ADDITION AND ALTERATION TO THE SCHEMEThe company may at its discretion, alter, amend or repeal any of the provision of the scheme. INTERPRETATION OF THE PROVISION OF THE SCHEMEWherever there is any doubt about the meaning or extent of application of the scheme, the decision of the Director/C. M. D shall be final and binding.

OTHER ALLOWANCE

PROJECT ALLOWANCE

Project allowance is admissible to all regular employee of the company and shall include probationers and trainees working in the field and project offices of the company.

SHIFT ALLOWANCE

Employee of the company, both Executive and non-Executive, who works on a shift basis will be eligible for payment of shift allowance at the following rates: SHIFT SHIFT TIMING RATE OFSHIFTALLOWANCE‘ A’ 6 a. m to 2 p. m Rs. 200 per shift/day‘ B’ 2 p. m to10 p. m Rs. 200 per shift/day‘ C’ 10 p. m to 6 a. m Rs. 200 per shift/dayThe shift allowance will be admissible for attending to duties in general shiftNo shift allowance will be admissible for attending to duties in general shiftNo shift allowance will be paid during any leave or holiday available of by an employee. When an employee works on a holidays in shift, compensatory off will be given to him/her as per rules.

GUN ALLOWANCE

Security Guard who possess their own guns and bring the same at the time of duty will be paid allowance of Rs. 25/- per month toward their proper upkeep and maintenance.

CASH HANDLING ALLOWANCE

Cash Handling allowance is admissible to those non-executive employees in the accounts department who discharge the duties of a cashier, and in this capacity handle monthly cash disbursements exceeding Rs. 1. 5 lakh. the rates of cash allowance would be as follows:

.

PAY RAGE RUPEES RUPEES

Employees in the scale of Rs. 125/- p. m1456-2706and Rs. 1526-2886Employees in the scale of Rs. 100/- p. m1306-2246and below

NON PRACTISING ALLOWANCE (NPA)

NPA is payable to the Medical Officers of GAIL employed on full-time basis. NPA shall count for all service matters i. e. for calculating the amount of HRA/leased accommodation , CCA, TA/DA entitlement, allotment of company’s quarter, advances like HBA/conveyance, PF, Gratuity, pension etc. but not for fixation of pay on promotion.

LEAVE TRAVEL COCESSION

SHORT TITLE

This scheme may be called ‘ GAIL LEAVE CONCESSION SCHEME

OBJECTIVE

The objective of the scheme is to grant as a welfare measure travel assistance to the employee of the GAS AUTHORITY OF INDIA LIMITED for journeys to their HOME TOWN or ANT PLACE in India during leave.

APPLICABILITY

All regular employees of the companyPersons on deputation with the company , if they opt for GAIL schemeProbationers after completion of the year service. Persons re-employed after their retirement

SCOPE

The leave travel concession will cover the employee and his family.

ADMISSIBILITY OF LEAVE TRAVEL CONCESSION

The LTC shall be admissible to persons of categories specified in clause(a) , (c) and (d) of rule 3. 1 only if they have completed one year’s continuous services in GAIL on the date of journey performed by them or their families, as the case may be to avail of the concession. LTC shall be admissible during any leave including earned leave, casual leave special casual leave and extra-ordinary leave without pay.

ENTITLEMENT

The LTC to home town shall be admissible irrespective of the distance between the head quarter of the employee and his home town once in a block of two calendar years such as 1986-87, 1988-89 and so on. The LTC to any place in India shall be admissible irrespective of the place of visit from the head quarter of the employee, once in a block of four calendar year such as 1986-89, 1990-93 and so on.

ENCASHMENT OF LEAVE TRAVEL CONCESSION

In the case an employee want to encash leave travel concession available to him to any place in India he can do so. In that event the encashment would be restricted to 75% of the rail-fare by entitled class not exceeding the first class fare for 1500 kms each side the encashment would be further restricted to 4 tickets i. e. for self, spouse and two children no encashment will be permitted in respect of home town LTC.

REIMBURSEMENT

In respect of journey to home town & back and anywhere in India and back reimbursement will be allowed by the entitled class or actual class, by which an employee travels.

FORFEITURE OF CLAIM

A claim for reimbursement of expenditure incurred on journey under this scheme shall be submitted within three months after the completion of the return journey , if no advance had been draw. Failure to do so will entail forfeiture of claim and no relaxation shall be permissible in this regard.

FRADULENT CLAIM FOR LEAVE TRAVEL CONCESION:-

If a decision is taken by the Disciplinary Authority to initiate disciplinary proceeding against an employee on the charge of a fraudulent claim of LTC, such employee shall not be allowed the LTC till finalization of such disciplinary proceedings. If the disciplinary proceeding result in imposition of any of the penalties specified in GAIL employees rules, the employees shall not be allowed the next two sets of the LTC in addition to the sets already withheld during the tendency of the disciplinary proceedings. for reasons to be recorded in writing, the controlling officers can also disallow more than two sets of LTC.

TRAVELING AND DAILY ALLOWANCE RULES

These rules may be called GAIL travelling & Daily allowance Rules and shall be applicable to journey performed by the employees to places beyond the radius of 30 km unless otherwise specifically provided in any provision of these rules.

ELIGIBILITY

All regular employees of the company including probationers/ contract employees and deputationists if their terms of deputation so provide in respect of all travel performed on company’s duty are concerned, are eligible. Company’s trainees/apprentice are also eligible under these rules subject to such other conditions as herein specified. Masculine gender also refers to feminine gender.

ENTITLEMENT

Travelling allowance- an employee shall be eligible for travelling allowance subject to conditions laid down if journey are undertaken for the following purposes:-TourTransferRecall from leaveMedical treatment at outstation/duty stationSuperannuation/ retirementAppearing in an interviewJourney on first appointmentDuring suspensionJOURNEY ON TOUR travelling allowance will be admissible for journey on tour by train or air or road to the extent indicated herein after.

INSURANCE OF OFFFICERS TRAVELLING BY AIR TOUR

Sr. executive of the rank of General Manager and above will be covered by a personal accident insurance policy for a sum of Rs. 1 lack on annual premium basis. Other Executive entitled to travel by air on tour may claim reimbursement of charges for a personal accident insurance policy along with their TA claims.

AMOUNT OF ADVANCE

An advance may be sanctioned to an employee of the company under these rules but such advance shall not exceed the actual amount of fare or the entitled class, amount of daily allowance for the period of absence and such other expenditure on local transport etc. which is likely to be incurred by the employee while on tour. Ordinarily a second advance shall not be sanctioned to an employee until an account has been of the first advance.

GENERAL CONDITIONS

TA claims once submitted by an employee cannot supplemented. TA bills for journey, specially where TA advance has been taken should be submitted by the employee within a fortnight of the completion of the journey and balance of advance, if any should be refunded immediately and a receipt obtained. Chairman & Managing Director at their direction to be recorded by them relax any of these rules to mitigate the hardship caused to an employee. Any case which is not adequately covered these rules or which requires relaxation of all or any of the provision of these rules shall be referred to corporate office for decision. In case of any doubt regarding interpretation of any of these rules the matter shall be referred to corporate office for necessary clarification.

RESEARCH METHODOLOGY

DATA COLLECTION METHOD

For collecting primary data, questionnaires method was followed. The questionnaires were issued to collect the data.

SOURCE OF DATA:

PRIMARY DATA:

The primary data has been collected by means of questionnaires and interview method and also to the employee of GAIL.

SECONDARY DATA:

The secondary data has been collected from various public sources. Books, journals and various website

RESEARCH DESIGN:

To study and describe the satisfaction level of various monetary and non monetary variables provided to employee GAIL is descriptive research. Descriptive research includes survey and fact finding enquires of different kinds. The major purpose of descriptive research is explanation of the state relationships as it exist at present.

SAMPLING DESIGN:

50 employees has been taken from different departments.

DATA ANALYSIS AND INTERPETATION

Are you get an adequate pay for your performance as compared to your supervisors and colleagues? Strongly Agree22Agree11Neutral4Disagree8Strongly Disagree5This analysis shows that 22, 11, 4, 8, 5 are respectively Agree, Neutral, Disagree, and Strongly Disagree that they get an adequate pay for their performance as compared to their supervisors and colleagues. Are you get an adequate pay for your performance as compared to employees at similar designation in other industries? Strongly Agree20Agree12Neutral8Disagree5Strongly Disagree5This analysis shows that 20, 12, 8, 5, 5 are respectively Strongly Agree, agree, Neutral, disagree and strongly disagree that they get an adequate pay for their performance as compared to employees at similar designation in other industries. Are you satisfy with the training program conducted in the organization? Strongly Agree21Agree15Neutral5Disagree5Strongly Disagree421 employees are satisfy with the training program conducted in the organization while 15 are Agree, 5 are Neutral, 5 are Disagree, and 4 are Strongly Disagree with the training program. Education assistance provided for children education are beneficial to you? Strongly Agree25Agree10Neutral3Disagree6Strongly Disagree625 employees are Strongly Agree 10 are agree 3 are neutral 6 are disagree are 6 are Strongly disagree that the education assistance provided for children education are beneficial to them. Atmosphere at workplace is suitable to perform better work? Strongly Agree20Agree12Neutral8Disagree5Strongly Disagree520 employees says that atmosphere at workplace is suitable they are strongly agree 12 employees are agree 8 are neutral 5 are disagree and 5 are strongly disagree. Are you satisfied with the canteen facility?

Yes

30

No

60

30 employees are satisfy with the canteen facility and 60 are not satisfy with the canteen facility. Are you satisfied with house rent allowance provided by GAIL? Strongly Agree16Agree14Neutral6Disagree7Strongly Disagree716 employees are strongly agree with the house rent allowance given to them 14 are agree 6 are neutral 7 are disagree and 7 are strongly disagree. Is any appreciation & recognition given to employee for their excellence? Strongly agree20Agree13Neutral4Disagree5Strongly disagree820 employees are strongly agree that appreciation and recognition is given to employees for their excellence 13 employees are agree 4 are neutral 5 are disagree 8 are strongly disagree. Is any procedure adopted for career growth of worker? Strongly agree21Agree17Neutral2Disagree5Strongly disagree521 employees are strongly agree that career growth procedure is adopted 17 are agree 2 are neutral 5 are disagree 5 are strongly disagree. Any long service award given to employees? Strongly agree18Agree18Neutral3Disagree6Strongly disagree518 employees are strongly agree that long service award is given to employees 18 are agree 3 are neutral 6 are disagree and 5 are strongly disagree. Well paid employees may perform better on their job? Strongly agree18Agree17Neutral4Disagree3Strongly disagree818 employees are strongly agree that well paid employees may perform better on their job 17 employees are agree 4 employees are neutral 3 are disagree and 8 are strongly disagree. Are employees motivated by giving salaries, bonus, and may change the attitude toward the work? Strongly agree15Agree20Neutral3Disagree6Strongly disagree615 employees are strongly agree that salaries bonus motivated the employees 20 employees are agree 3 are neutral 6 are disagree and 6 are strongly disagree. Are fringe benefits may have any effect on the performance of the employee? Strongly agree21Agree10Neutral5Disagree9Strongly disagree521 employees are strongly agree that fringe benefits have effect on performance of the employee 10 are agree 5 are neutral 9 are disagree 5 are strongly disagree. Is training and development have any positive influence on performance? Strongly agree16Agree20Neutral5Disagree5Strongly disagree416 employees are strongly agree that training and development have positive influence on performance while 20 are agree 5 are neutral 5 are disagree and 4 are strongly disagree. Is good working condition helps in improving employees performance? Strongly agree13Agree17Neutral4Disagree8Strongly disagree8Whether good working condition helps in improving employees performance 13 employees are strongly agree 17 are agree 4 are neutral 8 are disagree and 8 are strongly disagree. Any employee/worker expect promotion and dully promoted is bound to enhance his/her efforts and performanceStrongly agree19Agree11Neutral5Disagree8Strongly disagree7This analysis 19 employees are strongly agree 11 are agree 5 are neutral 8 are disagree 7 are strongly disagree that they expect promotion and dully promoted is bound to enhance his/her efforts and performance. Employee performance appraisal may influence performance of employeesStrongly agree24Agree6Neutral2Disagree9Strongly disagree924 employee says that employee performance appraisal may influence performance of employee 6 employees are agree 2 employees were not respond 9 employees are disagree and 9 are strongly disagree. Either monetary or non-monetary incentive which one are you prefer? Monetary40Non-monetary10This case shows that 40 employees prefer monetary incentives and 10 employees prefer non-monetary incentives

FINDINGS

From the above analysis of the data, it is found that the employee that were well paid will increase in their performances of the employees. The payment which is given in the form of salaries bonus and allowances will also increase efficiency of the employees. Fringe benefits also have effect on the performance of the employee. It is also find that non- monetary variables may increase the efficiency and productivity of the employees. Employee also wants other welfare facilities such as pension, gratuity, medical allowance for their growth. And lastly employees prefers both the variables monetary as well as non-monetary but monetary incentive give raise in their productivity.

CONCLUSION

With the help of these findings we can conclude that there is the clear relationship between monetary, non-monetary incentives and the performance of the employees. By giving these incentives we can increase the productivity of the employees and reduce the turnover of the employee from the organization. Non-monetary incentives such as good working condition medical allowance also helps in increase the performance of the employees.

RECOMENDETION

In the organization incentives are the most important issue for the top level employees as well as low level of employees. Organization should give these incentives regularly so that employees can work effectivelyFringe benefits are also should be given to the employees for better performanceThese incentives helps in attracting and retaining the employeesIt is also recommended that organization should strive to introduce a satisfactory incentives package to the employeesNon-monetary incentive also should be given to the employees regularlyEmployees also should be given the pension gratuity and medical facilities etc.