Payroll System Of Manufacturing Company Essay Example

Naraynganj, Savar, Kanchpur, Adamjee EPZ and other different areas. All readymade garments produced from these factories are exported to Europe and North American market. 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 also. But now real estate business has been separated from this group.

Objectives of This Report

Every study has an objective. Our study is not separate from that.

The general objective of this report is to identify the wage plan of a manufacturing company. We make this report on S. Nahar Garments (a manufacturing company) for preparing the incentive wage plan. Also such report gives the opportunity to prepare a real business report that will help us to makes report in future for companies.

Scopes of the Study

This study was an opportunity for us to know about the wage plan and incentives in manufacturing company.

We also gather knowledge about labor 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 entrepreneur in manufacturing company. As we study before which incentives eliminate dissatisfaction and motivate labors. So, labors become more effective, dutiful, and sincere in their work 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 100 percent bonus plan. There is no group bonus plan facility.

They do not have allowance for launch We directly visit their industry and take incentives from companies Public & Administration Manager and Deputy Technical Manager. Bangladesh govt. amended the wage law 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 workers wage by following the wage law. There are 7 different levels/grade of workers based on training and experience. Levels Basic wage House rent (30% of Basic)

So the total 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 the basic wage of a worker in Grade-6 is 1270 taka and total 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 wages 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 following rule to set up a worker’s total wage in every grade. Total Wage = Basic wage + (Basic wage ? .3) + 200 House rent Medical allowance S. Nahar

Garments Company also gives some extra benefit to motivate its workers. It gives its workers 100 taka as attendance allowance.

In this garments every worker has to work 6 days in a week and rest of the day is holiday for the worker. If any worker is present all the working days then 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 festive 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 times 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 children

Recommendation

From the survey in S. Nahar Garments, we learn that their incentives wage plan is not much encouraging. So we advise that, they should provide launch allowances and follow the piece work plan.

By using this plan they can increase their production. It is using motivation of labors.