Hr presentation related to Benefits provided in hr.pdf

Hr presentation

1. Compensation and Performance

2. Compensation and Benefits

3. •Salary
•Provident Fund
•Gratuity Fund
•Social Security
•EOBI
•Benefits during Health Issues
•Leaves
•Over Time
•Car Buy Back
Compensation and Benefits

4. Asalaryisaformofpaymentfromanemployertoanemployee,
whichmaybespecifiedinanemploymentcontract.Afixedregular
payment,typicallypaidonamonthlybasis.
Itincludes:
BasicSalary
HouseRentAllowance
UtilityAllowance
Gross Salary
Net Salary
Salary

5. Provident Fund
UnrecognizedProvidentFundNoexemptionsareavailablebutthereisnoyearly
taxability.Employer'scontributionsandinterestthereonwillbetaxableatthetime
ofpaymentstotheemployeesonly.
Providentfundisaverycommonretirementplantobenefittheemployees,which
iscontributoryinnatureandyieldsafeelingofparticipationinemployees
TherearethreetypesofProvidentfunds,whichareknownas:
StatutoryProvidentFunds,whicharesetupundertheProvidentFundAct,1925
andismaintainedbytheGovernment,semiGovernmentorganizations,local
authoritiesandothersuchinstitutions.Paymentsfromsuchfundsdoesnotneed
recognitionsfromtheCommissionerInlandRevenueandareexemptedfrom
IncomeTax.
RecognizedProvidentFund,whichisrecognizedbytheCommissionerInland
RevenueundertheSixthScheduleofIncomeTaxOrdinance,2001.Thistypeof
ProvidentFundismaintainedbyprivatesectorororganizations.Paymentsfrom
suchProvidentfundareexemptedfromIncomeTax.

6. Gratuity Fund
Gratuityisafavourofferedtotheretiringemployeeswhichisprovidedtoworkers
servingforalongtime.
Anyorganizationthatmeetsthefollowingcriteriaisobligedunderthelawtograntat
leastoftheseretirementbonuses.
•Inthecaseofcommercialorganization,iftheinstitutionemploys20ormorepersons,
eitherdirectlyorindirectly,duringanypartofthelastcompleteyear(12months).
•Inthecaseofanindustrialcompany,iftheorganizationemploys49ormoreworkers,
eitherdirectlyorindirectly,duringanypartofthelastcompleteyear(12months).
RateofGratuity
Currently,30dayswagesaretobepaidasGratuitytotheemployeeforeveryyearthat
hehasservedintheestablishmentorforanytimeexceedingsix-monthterm.
HowtocalculatetheamountofGratuitypayable?
AnyworkmanwhofulfilsthecriteriaforGratuitycancomputehistotalpayable
Gratuitybyusingthefollowingmethod:
TotalGratuity=perdaywagex30xtotalyearsserved

7. Social Security
Punjab Employees Social Security Institution: PESSI
An Ordinance to introduce a scheme of Social Security for providing benefits to
certain employees or their dependents in the event of sickness, maternity, injury
or death.
https://www.pessi.gop.pk/Download/ordinance.pdf
Social Security Maximum wage: 32,000/-to 40,000/-
Minimum Wages: 32,000/-
The Provincial Employees Social Security Ordinance, 1965 requires the employers
to contribute 6% of the wages of their employees (having wages uptoRs.
32,000/-) to the Punjab Employees Social Security Institution.

8. PESSI
The detail of Benefits provided by Punjab Social Security is as under:
Medical Facilities
TheMedicalFacilitiesincludecomprehensivemedicaltreatmentintheSocialSecurity
HospitalsandthefacilitiesnotavailableinSocialSecurityHospitalsarearranged
throughotherhospitalsatthecostofPunjabEmployeesSocialSecurityInstitution
(PESSI)whereverthosebeavailable.Incase,therequiredfacilitiesarenotavailable
withinthecountry,thesamearemanagedabroadtocatertothehealth
requirementsoftheSecuredPersons.
Cash Benefits
1.Sickness Benefits 2. Injury Benefits
3. IddatBenefits 4. Maternity Benefits
5. Gratuity 6. Disablement Pension
7. Survivor's Pension 8. Artificial Parts
9. Funeral Grant 10. Financial Assistance
11. Free Education of Secured Workers'sChildren

9. Cash Benefits
PESSIprovidesthefollowingbenefitstothesecuredworkersandtheirfamilies:
•SicknessBenefitsincludingTBandCancer
•75%ofthewagesupto121daysinayearandincaseofTB/Cancersicknessbenefitispaid
@100%ofwagesfor365days
•InjuryBenefit
•100%ofwagesupto180daysinayear
•MaternityBenefits
•Admissibletoconcernedwoman100%ofherwagesfor6weeksprenataland6weeks
postnatal
•DisablementGratuity
•AsdeterminedbytheMedicalBoard5%to20%ofdisabilitydependinguponthewagesand
percentageofdegreeofdisablementand
amountsoassessedpaidinlumpsum/onetimedispensation
•PartialDisablementPension
•Fordisabilityfrom21%to66%dependinguponwagesanddegreeofdisablementalong
withmedicalcare
•TotalDisablementPension
•Fordisabilityexceeding66%lifepension100%ofthewagesalongwithmedicalcare
PESSI

10. •Survivor’sPension
•Onthedeathofasecuredworkerduetotheemploymentinjuryhissurvivorsareentitled
tosurvivorpension@100%of
•wagesalongwithmedicalcare
•IddatBenefit
•Onthedeathofhusbandofasecuredwomen100%ofthewagesduringIddatperiod
•DeathGrant
•Onthedeathofasecuredworker100%oflastdrawnwagesispaidasdeathgrantto
dependent
•DietCharges
•Indoorpatientsarepaiddietcharges:PKR350perday
•SurvivorMedicalCare
•Incaseofnaturaldeathotherthanemploymentaccident,survivorisprovidedmedicalcare
foroneyear
•ConveyanceCharges
•Onreferraltohospitalambulanceorconveyancechargesarepaid
•HajjFacility
•PESSIsends04workerseveryyearonHajjselectedthroughballoting
•FreeMedicalEducation
•PESSIprovidesfreeMBBSeducationinthemedicalcollegesaffiliatedwithitshospitalsto
09workers’childreneveryyear
PESSI

11. Employee Old age Benefit Incentive
HowtoCalculate:
EOBIoperatesonthepartiallyfundedbasis.Theinsuredpersonaswellas
theemployeroftheinsuredpersonaresupposedtomakecontributionto
EOBIduringtheperiodofinsurableemployment.Employersaresupposed
topay5%oftheminimumwagesprescribedbythegovernmentwhile
employeesaresupposedtopay1%oftheminimumwages.
32,000/-
http://www.eobi.gov.pk/
TheEmployees'Old-AgeBenefitsInstitution(EOBI)isthepension,oldage
benefitsandsocialinsuranceinstitutionoftheGovernmentofPakistan.It
operatesunderthecontrolofMinistryofOverseasPakistanisandHuman
ResourceDevelopment.

12. EmployersnottoDismissorPunishEmployeesduringtheperiodof
Sickness:
NoEmployershalldismiss,dischargeorreduceorotherwisepunishanEmployee
duringtheperiodinwhichtheEmployeeisinreceiptofSicknessBenefit,Maternity
Benefit,InjuryBenefitorMedicalCare.
TimeLimits:
ThetimewithinwhichclaimsforbenefitspayableincashunderSections:
(35),(36),(37),(38)&(42)shallbemadeasfollows:
(a) SicknessBenefit :Within(7)daysfromthedateofCer.
(b) MaternityBenefit :Within(15)daysoftheconfinement.
(c) DeathGrant :Within(15)daysofthedateofdeath.
(d) InjuryBenefit :Within(7)daysfromthedateofCer.
Benefits during Health Issues

13. Leaves
Annual Holidays:
Every Worker who has completed a period of twelve (12) months continuous service in a office
shall be allowed , during the subsequent period of twelve (12) monthsholidays for a period of
fourteen (14) consecutive days,inclusive of the day or days , if any, on which he is entitled to a
holiday under Sub-Section: (1) of Section: (35)
CasualLeaveandSickLeave:
(1)EveryworkershallbeentitledtoCasualLeavewithfullpayforten(10)daysinayear.
(2)EveryworkershallbeentitledtoEight(8)daysSickLeaveinayear.
FestivalHolidays:
EveryworkershallbeallowedholidayswithpayonalldaysdeclaredbytheProvincial
governmenttobeFestivalHolidays.

14. Working Hours and Over time
WeeklyHours:
Noadultworkershallbeallowedorrequiredtoworkinafactoryformorethan
fortyeight(48)hoursinaweek,orwherethefactoryisaseasonalone,formore
thanfifty(50)hoursinanyweek.
Provided that an adult worker in a factory engaged in work which for technical reasons must
be continuous through-out the day may work for fiftysix (56) hours in a week.
ExtraPayforOver-time:Whereaworker
(a) Inanon-seasonalfactoryworksformorethannine(9)hoursinanydayorfor
morethanfortyeight(48)hoursinaweek;or
(b) Inaseasonalfactoryworksformorethannine(9)hoursinanydayorformore
thanfifty(50)hoursinaweek;
He shall be entitled in respect of the Over-timeworked to pay at the rate of twice
his ** ordinary rate of pay.