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1.

1 INTRODUCTION TO EMPLOYEE WELFARE


Welfare includes anything that is done for the comfort and improvement of employees
and is provided over and above the wages. Welfare helps in keeping the morale and
motivation of the employees high so as to retain the employees for longer duration. The
welfare measures need not be in monetary terms only but in any kind/forms. Employee
welfare includes monitoring of working conditions, creation of industrial harmony
through infrastructure for health, industrial relations and insurance against disease,
accident

and

unemployment

for

the

workers

and

their

families.

Labor welfare entails all those activities of employer which are directed towards
providing the employees with certain facilities and services in addition to wages or
salaries.

1.1.1 Welfare:
Welfare is the provision and maintenance of the conditions of life for individuals by
the community.Welfare has a positive and negative aspect. Negative welfare is the
provision by the state or other institutions of a safety net or the distribution of
benefits according to some criteria; so-called positive welfare is the provision of
opportunities for people to help themselves. This contrast lies behind foreign-aid
strategies which concentrate on providing skills or seed capital rather than food
parcels, for example. The concept of positive and negative welfare is related to the
concepts of positive and negative freedom.
Marxists support both positive and negative welfare, but recognise that the market
inevitably generates inequality and a class of people inevitably the recipients of
welfare, who have nothing to sell but their labour power, alongside a class of people
who live off the proceeds of exploitation, invariably the providers of welfare. Only
by bringing the means of production under thorough going proletarian democracy
can the very need for welfare be abolished.
1.1.2 Employee and Employee Welfare
Employee sector addresses multidimensional socio-economic aspects affecting
employee welfare, productivity, raising living standard of labour force and social
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security. To raise earnings of work force and achieve higher productivity, skill
upgradation through suitable training is of utmost importance. Manpower
development to provide adequate employee force of appropriate skills and quality
to different sectors essential for rapid socio-economic development and
elimination of the mismatch between skills required and skills available has been a
major focus of human resource development activities during the last fifty years.
Employment generation in all the productive sectors is one of the basic objectives.
In this context, providing enabling environment for self employment has received
special attention both in urban and rural areas. Objective is also to eliminate
bonded labour, employment of children and women in hazardous industries, and
minimize occupational health hazards. During the Ninth Plan period, elimination
of such undesirable practices as child labour, bonded labour, ensuring workers
safety and social security, looking after employee welfare and providing of the
necessary support measures for sorting out problem relating to employment of
both men and women workers in different sectors will receive priority attention. It
is also envisaged that the employment exchanges will be reoriented so that they
become the source of employee related information, employment opportunities
and provide counseling and guidance to employment seekers.

1.1.3 Principles of Employee Welfare


Certain fundamental considerations are involved in the concept of employee
welfare. The following are the more important among them.
Social responsibility of industry
This principle is based on the social conception of industry and its role in the
society that is, the understanding that social responsibility of the state is
manifested through industry. It is assumed that employee welfare is an expression
of industrys duty towards its employees.Social responsibility means that the
obligation of the industry to pursue those policies, to take such decisions, and to
follow those lines of action which are desirable in terms of the objectives and
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values currently obtaining in the society.


Democratic values
The principle of democratic values of employee welfare concedes that workers
may have certain unmet needs for no fault of their own, that industry has an
obligation to render them help in gratifying those needs, and that workers have a
right of determining the manner in which these needs can be met and of
participating in the administration of the mechanism of need gratification.
Efficiency
The fourth principle of labour welfare lays stress on the dictum that to cultivate
welfare is to cultivate efficiency. Even those who deny any social responsibility for
industry do accept that an enterprise must introduce all such labour welfare
measures which promote efficiency (Marshall, 1950). It has been often mentioned
that workers education and training, housing, and diet are the three most important
aspects of labour welfare, which always accentuate labour efficiency.
Re-personalization
Since industrial organisation is rigid and impersonal, the goal of welfare in
industry is the enrichment and growth of human personality. The labour welfare
movement seeks to bring cheer, comfort, and warmth in the human relationship by
treating man as an individual, with quiet distinct needs and aspirations. Social and
cultural programmes, recreation and other measures designed after taking into
consideration the workers interests go a long way in counteracting the effects of
monotony, boredom, and cheerlessness.
Co-responsibility
The sixth principle of employee welfare recognises that the responsibility for
employee welfare

lies on both employers and workers and not on employers

alone (Moorthy, 1958). Employee welfare measures are likely to be of little


success unless mutuality of interest and responsibilities are accepted and
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understood by both the parties, in particular the quality of responsibility at the


attitudinal and organisational level.
Totality of welfare
The final principle of employee welfare is that the concept of employee welfare
must permeate throughout the hierarchy of an organisation, and accepted by all
levels of functionaries in the enterprise.

1.1.4 Approaches
The issue of employee welfare may be studied from different angles, such as:
The location, where these amenities are provided, within and outside the industrial
undertakings; The nature of amenities such as those concerned conditions of
employment and The welfare activities termed as statutory, voluntary and
mutual. The agencies which provide living conditions of work people; these
amenities.On the basis of location of welfare activities, employee welfare work has
been

classified

by

Broughton

in

two

specific

categories,

namely,

(a)intramural(b)extra-mural
(a)Intra-mural activities: consist of such welfare schemes provided within the
factories as medical facilities, provision of crches, and canteens, supply of
drinking water, washing and bathing facilities, provision of safety measures such
as fencing and covering of machines, good lay-out of machinery and plant,
sufficient lighting, first-aid appliances; activities relating to improving conditions
of employment, recruitment and discipline and provision of provident fund and
gratuity, maternity benefits, etc.
(b)Extra-mural activities: cover the services and facilities provided outside the
factory such as, housing accommodation, indoor and outdoor recreation facilities,
amusement and sports, educational facilities for adults and children, provision of
libraries and reading rooms.
In the welfare activities concerned with conditions of employment are included
activities for the management of problems arising out of hours of work, wages,
holidays with pay, rest intervals, sanitation, continuity of employment, control
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over the recruitment of female, while all such schemes of benefits as co-operative
societies, legal and medical aid, and housing are included in the category of
activities concerned with conditions of employees.
1.1.5 Scope of employee welfare work
It is somewhat difficult to accurately lay down the scope of employee welfare
work, especially because of the fact that class is composed of dynamic individuals
with complex needs. In a world of changing values, where ideologies are rapidly
undergoing transformation, rigid statements about the field of employee welfare
need to be revised. Employee welfare work is increasing with the growing
knowledge and experience of techniques. An able welfare officer would, therefore,
include in his welfare program the activities that would be conducive to the wellbeing of the worker and his family.
The following list, which is by no means exhaustive, gives the items under which
welfare work should be conducted inside and outside the work place:
1. Conditions of work environment:
The workshop sanitation and cleanliness, humidity, ventilation, lighting,
elimination of dust, smoke, fumes and gases, convenience and comfort during
work, operative postures, sitting arrangements etc; distribution of work hours and
provision for rest times, breaks and workmens safety measures.
2. Workers health services.
These should include factory health centre; medical examination of workers,
factory dispensary and clinic for general treatment; infant welfare; womens
general education; workers recreation facilities; education, etc;
3. Employee welfare program:
These should cover factory council consisting of representatives of employers;
social welfare departments; interview and vocational testing; employment, followup, research bureau; workmens arbitration council.
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4. Employees Economic welfare program:


These should include co-operatives or fair price shops for consumer necessities;
co-operative credit society, thrift schemes and savings bank; health insurance;
employment bureau; etc.
5. General welfare work:
This should relate to housing and family care.
-Central Sector
There are Four types of initiatives through the Plan for the Employee and
Employee Welfare Sector. They are:

Training for skills development

Services to job seekers

Welfare of Employees

Administration of Employee regulations

Many initiatives are taken for the benefit of workers through the plans of a number
of Intensive Sectors. These are not discussed here because they fall under the
purview of respective sectoral programmes of the plan.

Vocational Training/Skill Development Training


The primary purpose of vocational training is to prepare individuals, especially the
youth in the age group of 15-25 years, for the world of work and make them
employable for a broad group of occupations. The main vocational training
schemes comprise of Craftsmen Training scheme, Apprenticeship Training
scheme, Training of Skilled Workers, Training of Women as a special target group,
Training of Craft Instructors, Training of Supervisors and Foremen. Applied
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research on vocational training problems is carried out. Preparation and


development of instructional material is another area where appropriate attention is
being paid.

1.1.6 Employee Welfare Schemes


Organizations provide welfare facilities to their employees to keep their motivation levels
high. The employee welfare schemes can be classified into two categories viz. statutory
and non-statutory welfare schemes. The statutory schemes are those schemes that are
compulsory to provide by an organization as compliance to the laws governing employee
health and safety. These include provisions provided in industrial acts like Factories Act
1948, Dock Workers Act (safety, health and welfare) 1986, Mines Act 1962. The non
statutory schemes differ from organization to organization and from industry to industry.
1. Statuatory Welfare Schemes
The statutory welfare schemes include the following provisions:
1. Drinking Water: At all the working places safe hygienic drinking water
should be provided.
2. Facilities for sitting: In every organization, especially factories, suitable
seating arrangements are to be provided.
3. First aid appliances: First aid appliances are to be provided and should be
readily assessable so that in case of any minor accident initial medication
can be provided to the needed employee.
4. Latrines and Urinals: A sufficient number of latrines and urinals are to be
provided in the office and factory premises and are also to be maintained in
a neat and clean condition.
5. Canteen facilities: Cafeteria or canteens are to be provided by the
employer so as to provide hygienic and nutritious food to the employees.
6. Spittoons: In every work place, such as ware houses, store places, in the
dock area and office premises spittoons are to be provided in convenient
places and same are to be maintained in a hygienic condition.
7. Lighting: Proper and sufficient lights are to be provided for employees so
that they can work safely during the night shifts.
8. Washing places: Adequate washing places such as bathrooms, wash basins
with tap and tap on the stand pipe are provided in the port area in the
vicinity of the work places.
9. Changing rooms: Adequate changing rooms are to be provided for
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workers to change their cloth in the factory area and office premises.
Adequate lockers are also provided to the workers to keep their clothes and
belongings.
10. Rest rooms: Adequate numbers of restrooms are provided to the workers
with provisions of water supply, wash basins, toilets, bathrooms, etc.
2. Non Statutory Schemes
Many non statutory schemes welfare schemes may include the following
schemes:
1. Personal Health Care (Regular medical check-ups): Some of the
companies provide the facility for extensive health check-up
2. Flexi-time: The main objective of the flextime policy is to provide
opportunity to employees to work with flexible working schedules. Flexible
work schedules are initiated by employees and approved by management to
meet business commitments while supporting employee personal life needs
3. Employee Assistance Programs: Various assistant programs are arranged
like external counseling service so that employees or members of their
immediate family can get counseling on various matters.
4. Harassment Policy: To protect an employee from harassments of any kind,
guidelines are provided for proper action and also for protecting the
aggrieved employee.
5. Maternity & Adoption Leave Employees can avail maternity or adoption
leaves. Paternity leave policies have also been introduced by various
companies.
6. Medi-claim Insurance Scheme: This insurance scheme provides adequate
insurance coverage of employees for expenses related to hospitalization due
to illness, disease or injury or pregnancy.
7. Employee Referral Scheme: In several companies employee referral
scheme is implemented to encourage employees to refer friends and
relatives for employment in the organization.
The very logic behind providing welfare schemes is to create efficient, healthy, loyal
and satisfied labor force for the organization. The purpose of providing such
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facilities is to make their work life better and also to raise their standard of living.
The important benefits of welfare measures can be summarized as follows:

They provide better physical and mental health to workers and thus promote a
healthy work environment

Facilities like housing schemes, medical benefits, and education and recreation
facilities for workers families help in raising their standards of living. This makes
workers to pay more attention towards work and thus increases their productivity.

Employers get stable labor force by providing welfare facilities. Workers take
active interest in their jobs and work with a feeling of involvement and participation.

Employee welfare measures increase the productivity of organization and promote


healthy industrial relations thereby maintaining industrial peace.

1.1.7 Welfare Schemes offered by Axis Bank


Following are the welfare schemes which are offered by Axis Bank:
1. Benevolent Scheme:
In terms of Benevolent Scheme, in the event of death of an employee of Axis Bank, in
any circumstances during services, all employees of the company contribute an
amount of Rs 25 each from their salary and the total amount so collected is paid to the
nominee of the deceased employee. There is however, no contribution from the
management side. This scheme was introduced in Axis Bank, w.e.f , 1st
November,1994.
2. Special Welfare Fund Scheme:
A special welfare fund has been constituted for undertaking welfare projects in the
neighborhood of the companys offices or for giving relief to hard cases inside the
establishment. All employees contribute @Re. 2/-p.m. towards this fund and
management also contribute similar amount. The fund is administered by a managing
committee consisting of representatives of management and employees.
3. Relief measure to the families of the deceased employees in case of
death/permanent total disablement while in service:
a) In the event of death of an employee at any place, other than at the plant while on
duty, the company should arrange for the transportation of the body.
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b) An amount of Rs 2000/- shall be payable to the family of deceased employees as


funeral expenses.
c) All dues should be settled and paid with on 15 days from the date of the
employees.
d) The company has introduced a social security scheme, w.e.f. 11.12.1998. The
existing scheme
of providing compassionate employment to the dependents/death/retirement on
account of

permanent while in service of the company shall cease to operate.

4. Axis Banks Social Security Scheme:


On separation from the service of the company on account of permanent total
disablement/retirement on medical grounds, the employee/dependent family members
shall be provided lump sum benefit equivalent to basic pay + DA for 50% of the left
over months of service limited to 60 months pay, whichever is less, to be released in a
phased manner. Subject to tax deduction under the income tax law or Rs. 1 lakh
whichever is ever.
5. Group Saving Linked Insurance Scheme:
The group saving linked insurance of LIC has been introduced in all units/office of the
company providing a coverage of insurance amount ranging from Rs 30000/- to Rs.
1.20 lakhs in the event of death of an employees. The scheme provides for a monthly
contribution @1% of the total sum insured, out of which 35% is appropriated towards
risk for insurance cover and 65% is credited to saving portion.
The saving portion earns interest @11% p.a. The contributions paid under the scheme
are eligible for exemption under the income tax act 1961 the maturity proceeds or
claim amount are free from income tax. The contributions are payable on monthly
basis through deduction from employees salary.
6. Welfare Excursion Scheme:
Two excursion trips in a calendar year are arranged by the club at units however trips
are arranged by the concerned welfare/industrial relations department. Under the
scheme, the places to be visited during such excursion trips are arranged within a
distance of

400 kms each ways from the township/place of work. Management

provides hire charges for two buses for each trip at units and total buses for the trips
at C.O& CMO.
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7. Long Service Award Scheme:


In terms of companys policy regarding grant of long service award, employees are given
an award on completing specified length of service of 10/15/20/30&35 years.
8. Welfare and Sports Grants/Facilities:
Following grants/facilities are providing for this purpose:
Sports Grants:
Under this head, budget allocations are made for the following:a) Annual Sports/Welfare Grants.
b) Grants for holding inter-unit tournaments.
c) Sponsored Tournament.

1.2 Introduction of Axis Bank


Axis Bank is a leading commercial bank in India. Founded in Kolkata in 1943, Axis Bank
is one of the oldest Indian banks as well. It was the eminent Indian industrialist
Ghanshyam Das Birla who, during the Quit India Movement of 1942, thought of
establishing a commercial bank with Indian capital and management. United Commercial
Bank was the outcome of that idea. It, along with 13 others, was nationalized on July 19,
1969. In the year 1985, its name was changed to Axis Bank. Currently, Axis Bank has
around 2000 Service Unites spread all across the nation. It also has two overseas
branches in Hong Kong and Singapore.
Axis Bank has its presence in all segments of the economy including Industry,
Agriculture, Infrastructure Sector, Service Sector and Trade & Commerce. It works
towards becoming one of the most trusted and admired financial institution as well as the
most sought-after destination for the customers and investors.
Axis Bank has a large number of Service Units (around 2000) located across the nation
and overseas. These also include specialized and computerized branches. It also has its
Correspondents / Agency arrangements all across the world. Axis Bank also carries out
Foreign Exchange Business in more than 50 centers across the nation with 4 Foreign
Exchange Dealing Operations centers.

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1.2.1 Offerings
Axis Bank offers a range of products and services to its customers, which include various
deposit schemes, loan schemes, services for the NRIs, international banking etc.
1.2.2 Deposit Schemes
Following deposit schemes are offered by Axis Bank:

No-frills Savings Bank Account


Money Back Recurring Deposits
Friend-in-Need Scheme
Two-way Deposit Scheme
Lakshmi Yojana
Kuber Yojana
Flexible Fixed Deposit Scheme
Special Deposit Scheme for Senior Citizens
Current Account in Foreign Currency at Indian Branches
Fixed Deposits in Foreign Currency at Overseas Branches
Revised Minimum Balance Schedule
Axis Tax Saver deposit Scheme 2006
Axis Premium Plus

1.2.3 Loan schemes


Following loan schemes are offered:

Axis Shelter
Axis Car
Axis Trader
Education Loan
Axis Cash
Axis Rent
Axis Mortgage
Axis Securities
Axis Real Estate
Axis Nari Shakti
Axis Shopper
Axis Pensioner
Axis Emd Loan
Axis Swabhiman - Reverse Mortgage Loan Scheme for Senior Citizen
Interest Subsidy Scheme for Housing the Urban Poor (ISHUP)
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1.2.4 NRI Corner


Axis Bank offers a range of services for the NRIs. Following are the services that NRIs
can choose from

Deposit Schemes
Foreign Currency Non Resident (FCNR-B) Deposits
Resident Foreign Currency (RFC) Deposits
Non Resident External (NRE) Deposits
Non Resident Ordinary (NRO) Deposits
Remittance to India
Loans to NRIs
Against Deposits
NRI Home Loans

1.2.5 International Banking


Following international banking services are offered;

Products & Services


NRI Banking
Foreign Currency Loans
Finance/Services to Exporters
Finance/Services to Importers
Remittances
Forex & Treasury Services
Resident Foreign Currency (Domestic) Deposits
Correspondent Banking Services
General Banking Services
Foreign Currency Loans
Finance/Services to Exporters
Finance/Services to Importer
Remittances
Forex & Treasury Services
Forex Inter Bank Placements/Borrowings
Sale & Purchase of currency on behalf of customers
Forward Cover Bookings
Cross Currency Swaps
Interest Rate Swaps (IRS)
Forward Rate Arrangements (FRAs)
Forex Money Market Operations
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Resident Foreign Currency (Domestic) A/Cs


Correspondent Banking Services

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REVIEWS OF LITERATURE
A literature review is a body of text that aims to review the critical points of
current knowledge on a particular topic. Literature reviews are secondary sources, and as
such, do not report any new or original experimental work. Reviews covering some of the
areas related to employee welfare are mentioned below:
Davis and Gibson (2006) described a process through which organizations might seek to
implement interventions relating to employee wellbeing. Emphasizes the importance of a
comprehensive needs assessment both in obtaining the breadth of information needed to
design appropriate interventions and also in providing baseline information against which
to evaluate programme effectiveness.. Finally, provides guidance on programme
implementation and evaluation, and discusses some of the advantages and disadvantages
of different approaches to tertiary welfare provision.
Osterman (2009) revealed that High Performance Work Organizations (HPWOs) took
root in the early 1990s but then faced an environment of organizational turmoil and
restructuring. This paper, drawing on a second-round survey of employers that replicated
and extended a 1992 survey, addressed two questions: whether HPWO practices
continued to spread, and whether their productivity and quality gains redounded to
employees' benefit. The results show that HPWO practices continued to diffuse at a rapid
rate between the 1992 and 1997 survey dates, although more slowly for self-managed
teams than for other practices. With regard to the second question, however, the author
found that adoption of HPWO practices in 1992 was associated with increased layoff
rates in subsequent years and no compensation gains--patterns that appear to result
largely because HPWO practices are linked to employment reorganization, such as
reductions in contingent and managerial employment.
Kasza (2010) proposed the concept of welfare regimes has become a centerpiece of
comparative welfare research. Most criticism of the concept thus far has focused on
whether this or that country fits a particular regime type or deserves its own regime
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category. This article offered a more radical critique of this concept. It argued that most
countries practice a disjointed set of welfare policies due to the following typical features
of welfare policymaking: (1) the cumulative nature of welfare policies, (2) the diverse
histories of policies in different welfare fields, (3) the involvement of different sets of
policy actors, (4) variations in the policymaking process. It concludes that few national
welfare systems are likely to exhibit the internal consistency necessary to validate the
regime concept, and that policy-specific comparisons may be a more promising avenue
for comparative research.
Fong, Brian et al. (2012) processed to make a company more efficient and cost effective
by eliminating nonvalue-added work processes and people. Unfortunately, it has become
a common business practice in todays firms in order to stay competitive and strong. The
practice, however, can be disastrous if the company does not treat the human aspect of
the process. During and after downsizing the workforce may suffer from what is known
as the survivor syndrome. This article addresses the work overload felt by employees in
the aftermath of a downsizing. A firms effective management of downsizing is intricately
related to the possible strategies of alleviating work overload and addressing employees
concerns. This relationship is especially important between the organisation and the
employees during and after the change. The success or failure of downsizing relies on the
remaining workforce.
White (2012) assessed the impact of unions on management practices to reduce labour
costs, implement high-performance work systems, and make employee welfare
provisions using British national survey data. Relative to non-union workplaces, those
with unions are found to have practices which are consistent with mutual gains
outcomes. Cooperative unionism and employee welfare.
Benko

(2012) examined that Employee Benefits Law was complex and often

misunderstood. This article explained the regulatory systems developed by Congress over
nearly a century. Initially Congress created tax preferences to encourage employers to
offer retirement and healthcare benefits to employees. Several decades later, Congress
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enacted the Employee Retirement Income Security Act of 1974 ("ERISA"), providing
substantive regulation under labor law and tax law. Since ERISA, there have been about
three dozen public laws which have changed the systems. Not surprisingly, confusion has
accompanied the regular modifications to a very technical area of law. Nevertheless, the
multitude of laws can be simplified. This was possible with an understanding of how the
parts combine to form cohesive regulatory systems. In short, Congress overlapped tax
law and labor law to create the bounds of the regulatory systems for employer-provided
retirement and healthcare benefits. Within these systems, two types of rules were
employed: incentives and sanctions. This article explained how all of the pieces fit
together to promote retirement and healthcare security, and suggests that a systematic
method of analysis may be the best approach for creating the benefits law of tomorrow.
Habeman (2013) described the significant developments of the last year (August 2004August 2005), the authors discuss changes in the rules of qualified retirement plans and
the taxation of employee welfare benefits. The authors discuss: final, updated regulations
for Internal Revenue Code (IRC) section 401(k) cash-or-deferred arrangements; proposed
"Roth 401(k)" regulations; Internal Revenue Service (IRS) guidance on actuarial
assumptions to be used for lump-sum distributions from defined benefit plans during
2004 and 2005; rumblings at the IRS over application of qualified plan nondiscrimination
rules; temporary and proposed regulations for Employee Stock Ownership Plans holding
stock of subchapter S corporations; guidance from both the Department of Labor (DOL)
and IRS regarding automatic rollovers from qualified plans to IRAs; DOL guidance
regarding the accounts of missing participants, abandoned defined contribution plans, and
a simplified Voluntary Fiduciary Correction Program; additional guidance on both Health
Savings Accounts (HSAs) and Health Reimbursement Accounts (HRAs); IRS guidance
on medical reimbursement accounts within profit sharing plans; and initial proposed
regulations to implement the Uniformed Services Employment and Reemployment
Rights Act (USERRA).
Smith (2013) examined the legal struggle to organize and represent family child care
providers who provide publicly-subsidized child care. In 2005, the Service Employees
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International Union (SEIU) achieved the largest child-care union victory in United States
history when it won the right to represent more than 49,000 child care workers in Illinois.
The victory, remarkable in its own right, was all the more stunning as the workers were
family child care providers, who provide child care for compensation from within their
private homes and who are generally regarded as independent contractors who lack
collective bargaining rights. SEIU's success was made possible by the increasingly public
character of family child care. In the aftermath of welfare reform, local and state
governments are compensating family child care providers to care for the children
of welfare-to-work recipients. Yet while family child care has become critical to lowincome

families,

rarely

do

providers

receive

adequate

compensation

from

the government. Providers claim that they are de facto state employees - paid by the state
and regulated by the state - and as such are entitled to negotiate with the state regarding
the terms of their labor arrangements. In the course of exploring this claim, the Article
considers the independent contractor/employee distinction as applied to family child care
providers and examines how unions can use the state action doctrine under antitrust law
to grant collective bargaining rights to providers.
Brown, Forde, et. al. (2014) examined that their significant increase in satisfaction with
the sense of achievement from work between 1998 and 2004; a number of other measures
of job quality are found to have increased over this period as well. It also found a decline
in the incidence of many formal human resource management practices. The paper
reports a weak association between formal human resource management practices and
satisfaction with sense of achievement. Improvements in perceptions of job security, the
climate of employment relations and managerial responsiveness were the most important
factors in explaining the rise satisfaction with sense of achievement was due in large part
to the existence of falling unemployment during the period under study, which has driven
employers to make improvements in the quality of work in satisfaction with sense of
achievement between 1998 and 2004.
Duman (2014) suggested that collective bargaining was closely related to social policy
making to the extent that the outcomes of the former inform. It was widely held,
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however, that trade unions in Central Eastern Europe (CEE) do not have a strong
bargaining position and thus exert little impact on policy decisions. This paper challenges
the view of CEE labour as a uniformly weak actor. It argues that CEE unions ability to
shape the bargaining agenda and social policies depends largely on the degree of
privatization, which overlaps with sectoral divisions. We found that unions in exposed
sectors are unable to oppose greater flexibility even when there are no considerable wage
gains, whereas workers in protected sectors manage to maintain their status and at times
even enhance their welfare, both in terms of higher wages and better working conditions.
The perusal of literature revealed that there had been many researches regarding
programme effectiveness, advantages and disadvantages of different approaches to
welfare provisions, downsizing concept, Employee benefits like retirement and
healthcare benefits. So all the studies that were conducted were not focused on the
welfare schemes that Axis Bank must provides to their Employees.

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3.1 NEED OF THE STUDY


The studies that were conducted earlier were based on job satisfaction level, as far as
there was less concern regarding the employee welfare schemes and working conditions
in the private sector banks. This was identified from the review of literature because the
researches that were conducted earlier did not talk about the welfare of employees in Axis
Bank.

3.2 SCOPE OF THE STUDY


The study of Employee Welfare is purely based on secondary data and all information
was available within the organization itself. So, the scope of the study was limited to Axis
Bank, Adampur.

3.3 OBJECTIVES OF THE STUDY


The main objectives of the study are as under:
1. To determine the level of awareness of various welfare policies of Axis Bank.
2. To determine the level of satisfaction of various welfare polices of Axis Bank.
3. To determine whether the working conditions in company are good enough of
Axis Bank.
4. To determine how people feel and react to the nature of job given to them of Axis
Bank.
5. To study the various welfare schemes offered by the of Axis Bank.
6. To analyze the of Axis Banks working environment.

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RESEARCH METHODOLOGY
Research Methodology is a way to systematically solve the research problem. The
Research Methodology includes the various methods and techniques for conducting a
Research. Marketing Research is the systematic design, collection, analysis and
reporting of data and finding relevant solution to a specific marketing situation or
problem. D. Slesinger and M. Stephenson in the encyclopedia of Social Sciences define
Research as the manipulation of things, concepts or symbols for the purpose of
generalizing to extend, correct or verify knowledge, whether that knowledge aids in
construction of theory or in the practice of an art.
Research is, thus, an original contribution to the existing stock of knowledge making for
its advancement. The purpose of Research is to discover answers to the Questions
through the application of scientific procedures. Our project has a specified framework
for collecting data in an effective manner. Such framework is called Research Design.
The research process followed by us consists of following steps:
4.1 Research Design
Research Design is a blueprint or framework for conducting the marketing research
project. It specifies the details of the procedures necessary for obtaining the information
needed to structure and solve marketing research problem. The research design used in
study is descriptive research. Descriptive research is that type of research in which one
can explain what had happened and what is happening, but cannot change the variables;
like in this study employee welfare is done.
4.2 Sample Design
Sampling can be defined as the section of some part of an aggregate or totality on the
basis of which judgement or an inference about aggregate or totality is made. The
sampling design helps in decision making in the following areas.

Universe of the study- Universe refers to the total of the units in field of inquiry.
Present study was restricted to the Employees of Axis Bank.

26

Sample size- Sample size was the number of elements to be included in a study.
Keeping in mind all the constraints 50 respondents of Adampur city were
selected.

Sample unit- Sampling unit is the basic unit containing the elements of the
universe to be sampled. The sampling unit of the present study were the
Employees of Axis Bank

4.3 Methods of Data Collection


Research work is exploratory in nature. Information has been collected from both
Primary and Secondary data.

Primary sources- Primary data are those, which are collected are fresh and for
the first time and thus happen to be original in character. Primary data has been
collected by conducting surveys through questionnaire, which include both openended and close-ended questions and personal and telephonic interview.

Secondary sources- Secondary data are those which have already been collected
by someone else which already had been passed through the statistical process.
Secondary data has been collected through magazines, websites, newspapers and
journals.

4.4 Tools of Analysis & Presentation


To analyze the data obtained with the help of questionnaire, following tools were used.

Tables: This is a tool to present the data in tabular form.

Percentage, Bar Graphs and Pie Charts: These tools were used for analysis of
data.

4.5 Limitations of the Study


The limitations of the study are:

Due to shortage of time available at disposal, we were not able to collect as much
information as needed for the study.

There may be untrue information provided by the respondents for the study.
27

Biasness in the responses of respondents may be there.

The sample may not be a true representative, as due to location factor, the respondents
may not be representative of the whole universe.

As there is always a cost factor involved in every research, so it is not possible to


include large universe.

Although the staff of Axis Bank, Adampur was highly co-operative and devoted
enough to its valuable time on me but because of their busy schedules, I feel that I
unable to gain complete knowledge. Furthermore, I was allotted a limited time period
for study. Both of these became the limiting feature to get thoroughly facilitate with
entire organizational activities.

28

29

DATA ANALYSIS AND INTERPRETATION


Statement 1: To know the Working Experience of the Employee in the Axis Bank
Table 5.1 Working Experience
Years of Experience

No. of Respondents

Percentage of Respondents

Below 5 Years
6-10 Years

5
10

10
20

11-15 Years

10

16-20 Years

10

20

Above 21 Years

20

40

Total

50

100

Figure 5.1 Working Experience

Percentage of Respondents
Below 5 Years; 10%
Above 21 Years; 40% 6-10 Years; 20%

11-15 Years; 10%


16-20 Years; 20%

Analysis and Interpretation:The figure above examined that 40% of employees have working experience above 21
years, 20% of respondents have working experience 16-20 tears and 6-10 years, and 10%
of employees have working experience 11-15 years and below 5 years.So by this it has
been found that majority of the employees have working experience above 21 years.
30

Statement 2: To know whether the employees are satisfied with the bank and
supervision of employees as per the welfare work provided:
Table 5.2 Satisfaction Level of Employees
statement

No. of Respondents

Percentage of Respondents

Highly Satisfied
Satisfied

25
10

50
20

Neutral

15

30

Dissatisfied

00

Highly Dissatisfied

00

Total

50

100

Figure 5.2 Satisfaction level of Employees

No. of Respondents

Neutral; 30%
Highly Satisfied; 50%

Satisfied; 20%

Analysis and Interpretation:As shown above majority i.e. 50% of the employees were highly satisfied with the
organizational supervision of employee welfare provided by Axis Bank. About 20% of
the employees were satisfied and 30% were neutral, whereas none of the employee was
dissatisfied respectively.
31

Statement 3: To know whether the employees are aware of all the welfare schemes
or not
Table 5.3 Awareness of Welfare Schemes
Satisfy with salary
Yes
No
Total

No. of Respondents
40
10
50

Percentage of Respondents
80
20
100

Figure 5.3 Awareness of Welfare Schemes

No. of Respondents
No; 20%

Yes; 80%

Analysis and Interpretation:As shown above majority i.e. 80% of the employees were aware of all the welfare
schemes provided by the organization, whereas 20% of the employees thought that they
were not fully aware about all the schemes provided.

32

Statement 4: To know the opinion of employees about the banks welfare schemes.
Table 5.4 Opinion of Employees
Opinion

No. of Respondents

Percentage of Respondents

Excellent
Good

30
15

60
30

Fair

10

Poor

00

00

Very Poor

00

00

Total

50

100

Figure 5.4 Opinion of Employees

No. of Respondents
Fair; 10%

Good; 30%
Excellent; 60%

Analysis and Interpretation:- As shown above majority i.e. 60% of the employees
thought that the banks welfare schemes were excellent and about 30% thought that they
were good and 10% thought that the schemes were fair respectively.

33

Statement 5: To know the ranking of employees which they think are best on the
scale of 1 to 5 (1 being more preferred, 5 being least preferred)
Table 5.5 Preference of Schemes
Schemes

Rank 1

Rank 2

Rank 3

Rank 4

Rank 5

Total

Rate

Social security scheme

10

21

138

Welfare Excursion

20

16

110

scheme
Medical
Housing

17
5

20
2

7
12

2
23

4
8

103
173

1
4

Number of respondents- 50
Rank 1- Most Preferred
Rank 5-Least Preferred
Analysis and Interpretation:In this above table weighted average score method was used where 1 rank was the most
preferred rank and 5 was the least preferred rank.
As in the above table various schemes were being ranked. The above table depicted that
majority of the respondents felt that the medical scheme was best and was most preferred
scheme . Then welfare excrusion scheme was given Rank 2. Then social security, housing
schemes were considered as Rank 3, Rank 4 and Rank 5 respectively.

34

Statement 6: To know the nature of job given to the employees


Table 5.6 Nature of job given to the Employees
Nature of job

No. of Respondents

Percentage of Respondents

Interesting

24

48

Quite Boring

10

Challenging

18

36

According to Skills

Total

50

100

Figure 5.5 Nature of job given to the Employees

Percentage of Respondents
According to Skills; 6%

Challenging; 36%

Interesting; 48%

Quite Boring; 10%

Analysis and Interpretation:The figure above examined that 48% of the employees thought that interesting type of
jobs were given to them, 36% of the employees thinks that challenging type of jobs are
given to them, 10% of the employees thought that quite boring type of jobs were given to
them while only 6% of the employees thought that jobs were given to them according to
skills. So the majority of the employees thought that interesting type of jobs were given
to them.
35

Statement 7: To rate the statements:


(HS- Highly Satisfied, S- Satisfied, N- Neutral, D- Dissatisfied, HD- Highly
Dissatisfied)
Table 5.7 Satisfaction level of Respondents
Statements

SA

D SD Summated

8.1) The procedure adopted for career growth of

10

20

15

Score
167

Employee.
8.2) Working environment of Axis Bank

22

16

204

8.3) Safety practices for the welfare of its workers

23

17

210

8.4) Recreation of employees

11

21

10

185

8.5) Educational assistance provided for childrens

17

16

10

191

education
8.6) Staff Benevolent Fund

20

13

10

193

8.7) Medical facilities

33

15

234

Number of respondents -50


Maximum Score
Highly satisfied (50*5) - 250
Satisfied (50*4) 200
Neutral (50*3) 150
Dissatisfied (50*2) 100
Highly Dissatisfied (50*1) - 50
Analysis and Interpretation:
As from the above table no 5.11 comparison was done between maximum score and
summated score. Maximum score is the score which represents the strongly agree level
among the respondents. So, information related to the level of agreement or least
agreement to various factors Axis Bank infuencing the agreement level of respondents
was interpreted in following manner-:

36

The first statement has summated score as 167, which lies between 200 and 150. That
means either the people were satisfied or neutral.
The second statement has summated score as 204, which lies between 200 and 250. That
means either the persons were highly satisfied or satisfied. This value was more towards
200. So, we can say that people were satisfied towards this statement.
The third statements summated score was 210, which lies between 200 and 250. That
means either the persons were highly satisfied or satisfied. This value was more towards
200. So, we can say that people were satisfied towards this statement.
The fourth statements summated score was 185, which lies between 200 and 150. That
means either the persons were satisfied or neutral. This value was more towards 200. So,
we can say that people were satisfied towards this statement.
The fifth statement has summated score was 191, which lies between 150 and 200. It
means either the persons were agreed or neutral. But the value was more inclined towards
200. So, the persons were agreed regarding this statement.
The sixth statements summated score was 193, which lies between 150 and 200. It
means either the persons were agreed or neutral. But the value was more inclined towards
200. So, the persons were agreed regarding this statement.
The seventh statements summated score was 234, which lies between 250 and 200. It
means either the persons were highly satisfied or satisfied. But the value was more
inclined towards 250. So, the persons were highly satisfied regarding this statement.
The eighth statements summated score was 177, which lies between 150 and 200. It
means either the persons were satisfied or neutral. But the value was more inclined
towards 200. So, the persons were satisfied regarding this statement.

37

Statement 8: To rate the statements as per conditions and work environment:


(HS- Highly Satisfied, S- Satisfied, N- Neutral, D- Dissatisfied, HD- Highly
Dissatisfied)
Table 5.8 Satisfaction as per conditions
Statements

SA

D SD Summated

9.1) Ventilation and temperature

10

20

15

score
203

9.2) Lighting

22

20

206

9.3) Working hours

30

15

221

9.4) Meal time/rest time

15

20

10

193

9.5) Safety measures

17

16

10

195

Maximum Score
Highly satisfied (50*5) - 250
Satisfied (50*4) 200
Neutral (50*3) 150
Dissatisfied (50*2) 100
Highly Dissatisfied (50*1) - 50
Analysis and Interpretation:
As from the above table no 5.11 comparison was done between maximum score and
summated score. Maximum score is the score which represents the strongly agree level
among the respondents. So, information related to the level of agreement or least
agreement to various factors Axis Bank influencing the agreement level of respondents
was interpreted in following manner-:
The first statement has summated score as 203 , which lies between 200 and 150. That
means either the people were satisfied or neutral.
The second statement has summated score as 206, which lies between 200 and 250. That
means either the persons were highly satisfied or satisfied. This value was more towards
200. So the people were satisfied towards this statement.

38

The third statements summated score was 221, which lies between 200 and 250. That
means either the persons were highly satisfied or satisfied. This value was more towards
200. So the people were satisfied towards this statement.
The fourth statements summated score was 193, which lies between 200 and 150. That
means either the persons were satisfied or neutral. This value was more towards 200. So,
we can say that people were satisfied towards this statement.
The fifth statement has summated score was 195, which lies between 150 and 200. It
means either the persons were agreed or neutral. But the value was more inclined towards
200. So, the persons were agreed regarding this statement.

39

Statement 9: To rate the statements as per employee economic welfare:


(HS- Highly Satisfied, S- Satisfied, N- Neutral, D- Dissatisfied, HD- Highly
Dissatisfied)
Table 5.9 Satisfaction as per Economic Schemes
Statements

SA

D SD

Summated

10.1) Housing

30

15

score
225

10.2) Transportation benefits

22

20

206

10.3) Retirement benefits

30

15

221

10.4) Insurance

15

20

10

193

Maximum Score
Highly satisfied (50*5) - 250
Satisfied (50*4) 200
Neutral (50*3) 150
Dissatisfied (50*2) 100
Highly Dissatisfied (50*1) - 50
Analysis and Interpretation:
As from the above table no 5.11 comparison was done between maximum score and
summated score. Maximum score was the score which represents the strongly agree level
among the respondents. So, information related to the level of agreement or least
agreement to various factors Axis Bank influencing the agreement level of respondents
was interpreted in following manner-:
The first statement has summated score as 225, which lies between 250 and 200. That
means either the people were highly satisfied or satisfied.
The second statement has summated score as 206, which lies between 200 and 250. That
means either the persons were Highly satisfied or satisfied. This value was more towards
200. So, we can say that people were satisfied towards this statement.

40

The third statements summated score was 221, which lies between 200 and 250. That
means either the persons were highly satisfied or satisfied. This value was more towards
200. So, we can say that people were satisfied towards this statement.
The fourth statements summated score was 193, which lies between 200 and 150. That
means either the persons were satisfied or neutral. This value was more towards 200. So,
we can say that people were satisfied towards this statement.

41

Statement 10: To know after how much time the welfare policy should be amended
in Axis Bank.
Table 5.12 Amendment of Welfare Policy
Time period

No. of Respondents

Percentage of Respondents

After every year

24

48

After two years

20

40

After 3 years

After five years

Total

50

100

Figure: 5.7 Amendment of Welfare Policy

No. of Respondents
After five years; 4%
After 3 years; 8%
After every year; 48%
After two years; 40%

Analysis and Interpretation:As shown above majority i.e. 48% of the employees suggest that the welfare policies
should be amended every year. About 40% of the employees suggest that the policies

42

should be amended after every two years, whereas 8% said after 3 years and only 4% said
after 5 years respectively.

43

44

FINDINGS OF THE STUDY

From the above tables and figures, the analysis was regarding employee welfare of Axis
Bank Pvt. Ltd, Adampur Based on the analysis the following results had been found out: Most of the employees were aware of the welfare schemes offered by the
organization.
Most of the employees were satisfied with their working hours.
Most of the employees thought that company have excellent policies and practices
and none of the employee thought that companys policies and practices were very
poor.
Most of respondents thought that interesting type of job was given to them and very
few of them thought that job were given according to skills.
Most of the employees said that workers were co-operative among themselves.
Most of the employees think that the medical scheme, housing and social security
schemes are best.
Most of the employees were satisfied with the working conditions and environment.
Majority of the employees think that the welfare schemes should be amended every
year and very few almost negligible think that the polices should be amended after 5
years

45

46

7.1 CONCLUSION
To conclude, Welfare Schemes plays an important role in the employees working life.
The welfare schemes plays a vital role in the development of human resources as well as
the organization as a whole. A proper control should be implemented in the organization
in order to check whether welfare polices are followed or not.
The Axis Bank provides welfare schemes which are better than any other private
organization. The schemes provided here as per mentioned in the Factory Act 1948.
The major findings of the study were that most of the employees were aware and satisfied
with the welfare schemes provided by the organization, work assigned to them and also
with the welfare facilities provided to them. They said that interesting type of jobs was
given to them. According to them working conditions are satisfactory and the economic
welfare schemes alike housing, transportation& retirement benefits and insurance are also
satisfactory. In a whole we can conclude that the employees here are fully satisfied with
the schemes and their job profile.

47

7.2 RECOMMENDATIONS

After carrying on the study, the following recommendations have been made: -

1. More stress should be laid on motivating the employees for giving out good
performance in order to achieve awards under welfare schemes.
2. Employees should work sincerely to avail the various welfare facilities.
3. Welfare policies available are quite good i.e. there is need for further
improvement.
4. Time to Time counseling should be given if any changes made by the
organization.
5. Employees should be more aware regarding the welfare schemes to gain benefits.
6. Working conditions need to improve as per the changing work environment.

48

49

REFERENCES
Benko (2012) Job Attitude and Employees Performance of Public Sector
Organizations in Jaffna District, Sri Lanka. GITAM Journal of Management, 6(2),
66-73.
Brown, J. et al. (2014). Changes in HRM and employee welfare, 19982004:
evidence from the Workplace Employment Relations Survey. Journal of Human
Resource Management, 18(2), 97195.
Davis, A. and Gibson, L. (2006). Designing Employee Welfare Provision. Personnel
Review, Vol. 23 Iss: 7, pp.33 45
Duman, D. (2014). Labour welfare In Human Service Employment. Journal of
Leadership & Organizational Studies. 14(2),106-116.
Gregory, J. (2003). Employee Welfare and Strategic planning session. Nonprofit and
Voluntary Sector Quarterly. 35(2), 225-248.
Habeman, M. (2013). Culture component of Employee Welfare. Human Relations.
31(4), 297-308.
Kasza (2010) New development concerning the effect of work overload on
employees. Management Research News, Vol. 27 Iss: 4/5, pp.9 16
Smith (2013) Justice Theory to the performance evaluation process. Nonprofit and
Voluntary Sector Quarterly. 35(2), 225-248.
Osterman(2009) A Study on Employee Welfare & Satisfaction in Scot Edil Pharmacia
Pvt. Ltd., Baddi (H.P). Review of Public Personnel Administration. 24(1), 18-40.
White, M. (2005). Cooperative unionism and employee welfare.
Relations Journal Volume 36, Issue 5, pages 348366, September 2005.
www.google.com
www.employer-employee.com
www.sajejournalsonline.com

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Industrial

51

QUESTIONNAIRE
I,

Karandeep Kaur, MBA student of Apeejay Institute of Management Technical

Campus are conducting a research on, Employee Welfare in Axis Bank. So, I request
you to spare a few minutes from your busy schedule and fill this form. I assure you that
the information will be kept confidential.

(A) Demographic Features:Name


Age

20-30

30-40

40-50

Qualification Graduate

above 50

Post Graduate

Others please specify


Gender

Male

Female

Work experience:
Upto 2 years

2 -6 years

6 -10 years

above 10 years

(B) Questions
Q1.From how many years are you working in the Axis Bank?
a) Below 5 years

b) 6-10 years

c) 11-15 years

d) 16-20 years

e) Above 21 years

52

Q3. Are you satisfied with the organization and supervision of employees welfare
work provided by Axis Bank?
a) Highly Satisfied

b) Satisfied

c) Neutral

d) Dissatisfied

e) Highly Dissatisfied
Q4. Are you aware of all the welfare schemes provided by Axis Bank?
a) Yes

b) No

Q5. Give your opinion about companys welfare schemes?


a)Excellent

b) Good

c) Fair

d) Poor

e) Very Poor
Q6.Rate the schemes which you think are best for employees on the scale of 1-5: (1
Most preferred, 5 Least preferred)
a) Social security scheme
b) Welfare Excrusion scheme
c) Medical
Q7. What type of nature of job you are given?
a) Interesting

b) Quite Boring.

c) Challenging.

d) According to Skills

Q8. Rate the following statements as HS(highly satisfied), S(satisfied), N(neutral),


D(dissatisfied), and HD(highly dissatisfied)
Statements
1. The procedure adopted for career growth of
Employees
2. Working environment of Axis Bank
3. Safety practices for the welfare of its workers

53

HS

HD

4. Recreation of employees
5. Educational assistance provided for childrens
education
6. Staff Benevolent Fund
7. Medical facilities

Q9. Rate the following conditions and work environment:


Statements
1. Ventilation and temperature
2. Lightening
3. Working hours
4. Meal time/rest time
5. Safety measures

HS

54

HD

Q10. Rate the following Labour economic welfare:


Statements
1. Housing
2. Transportation benefits
3. Retirement benefits
4. Insurance

HS

HD

Q11. After how much time the welfare policy should be amended?
a) After every year

b) After two years.

c) After 3 years.

d) After 5 years

Q12. Give your suggestions to the organization to improve welfare measures for the
employees

Thank you

55