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DECLARATION
I Pratiksha Borkakoty student of BBA (6th SEM), Skyline Business School
Gurgaon (Delhi), do hereby declare that this project report entitled,
“Study on Financial benefits of employees at Delta Energy Systems
Gurgaon” is my own work, to the best of my knowledge and belief. It
contains no material previously published or written by another person
nor material which to a substantial extent has been accepted for the
award of any other degree or diploma of any other institute, except
where due acknowledge has been made in the text.
I further certify that I have no objection and grant the rights to
Pratiksha Borkakoty
Roll No.SMU11MBA-1765
ACKNOWLEDGEMENT
On the successful completion of the project, first and foremost I thank
God, the Almighty without whose blessings the project would not have
been a success.
I take this opportunity to express my sincere gratitude towards Ms.
Shelly Jain, senior executive HR at Hello Kids Wonder World for giving
me the opportunity to complete my training at Hello Kids Wonder
World, Gurugram.
I thank Mrs. Renuka under whose guidance I completed this project. I
would also like to thank all the others in the HR Dept. at Hello Kids for
being extremely co-operative and guiding me throughout my project.
I would also like to express my thanks to Mr. V. Subramaniam Director,
Skyline Business School for giving me an opportunity to gain practical
knowledge about corporate working through this project.
Not forgetting the guidance given by Ms. Priti Patwal regarding
corporate working which helped me during my training period at Hello
Kids for which I thank her.
Lastly special thanks to my family members for being extremely
supportive during my training period.
Pratiksha Borkakoty
PREFACE
The well planned, properly executed and evaluated project helps both
the management trainee (student) as well as industry. The
management trainee gets first hand line industry experience of the
current corporate scenario, market condition and business
environment which are not available in the textbooks. With the help of
above tools, they develop themselves, as the perfect business
personality of future business would have excellence in all trade.
On the other hand, with the help of young blood and fresh brain full of
innovative thoughts ideas, industry came to know about current market
strength and weakness, competitor strategies, problem of customer
and service etc.
In this project my area of concern is to study: -
Financial and Non-Financial benefits of employees provided by
Hello Kids.
TABLE OF CONTENTS
EXECUTIVE SUMMARY
Educational
Benefits
Retirement Employee
& Savings Incentive
Benefits Benefits
Employee
Benefits
(Mandatory &
Supplementay)
Health &
Family
Lifestyle
Benefits
Benefits
Governme
nt Benefits
Background:
According to Times of India (November 25, 2017), India aces in employee
benefits. Companies in India offer more and better benefits than those in the Asia
Pacific (APAC) region in general, says a study by Willis Towers Watson, the London
headquartered insurance brokerage company. The study which surveyed more
than 1,000 companies in APAC, including 100 from India (MNCs and India-
headquartered companies), said almost 70% of companies in India provide more
choice and flexibility around employee benefits, compared to 50% for the rest of
the companies in the APAC region.
Purpose and Objective:
The purpose of this project is to learn about employee benefits provided by
organizations that helps employees to feel engaged and motivated to work with
them for a long run. To study the same, I have chosen the employees of “Hello
Kids Gurugram (Haryana), so that I can understand all the benefits and services
provided by “Hello Kids Gurugram (Haryana)” to their employees. Along with that
the purpose is to understand and analyze the issues, grievances, challenges and
threats that are experienced by both employee and employer while working in
this organization. In my project, I will also investigate in detail about some
possible remedies that are recommended to avoid and control these issues in
near future.
Many organizations now days provide medical security to their employees like
facility of group medical insurance for the employee and their dependents as
well. If the organization is small (>10) and the average salary of employee are
less, it is a mandate that company will have to get their employees enrolled
into ESIC facility. However, this is not applicable for Hello Kids Employees as
they are less than 10 in numbers. Complete medical care and attention are
provided by the scheme to the employees registered under the ESI Act, 1948
at the time of their incapacity, restoration of their health and working
capacity. During absenteeism from work due to illness, maternity or factories
accidents which result in loss of wages complete financial assistance is
provided to the employees to compensate for the wage loss.
Every study or analysis has specific boundaries over which we do not have a hold.
Despite everything I have endeavor my level best to eliminate barrier, I still had
the following limitations as mentioned below:
Since my study sample were the Employees of the school itself, so it was very
hard and challenging to catch their precise time for discussion for which I had
made a questionnaire and ask question from them as all of them were not
having time to fill it.
Respondents were not ready to provide certain information and were a bit
apprehensive in filling the questionnaire fearing that their names will be
revealed.
Study Methodology
Definition of Population
A research population is also known as a well-defined collection of
individuals or objects known to have similar characteristics. All
individuals or objects within a certain population usually have a
common, binding characteristic or trait. In our study our population are
all teachers of Hello Kids Gurugram.
Scope of Study
Our scope of study is limited to the employees of Hello Kids Gurugram.
To obtain an idea about what benefits they are enjoying and what
benefits they look forward for or think should be part of Hello Kids, I
have undertaken this project and have conducted some Surveys and
some interviews for the teaching staff of this school to understand
these in detail.
Sampling Technique
The sampling technique that is used in this study is the Total Population
Sampling which is a type of purposive sampling technique. It is used for
studying the entire population as the population is small in number.
and had characteristics that are always common.
Sample Size
The sample size is 7 employees of Hello Kids and the uncommon
characteristic of our sample is that we have only picked the teaching
staff of the school for our study. This sample does not include the non-
teaching and administrative staff, and this is how the Total Population
sampling technique works.
Sources of Data
Our study of and source of data is primarily divided into the categories:
Primary Data Source:
A primary data source is an original data source. That means, in this
source the data is collected firsthand by the researcher for a specific
research purpose or project. The most common techniques of
collecting primary data are self-administered surveys, interviews, field
observation, and experiments.
In our case, we have used Interviews and Data from Questionnaire as
our primary source of data.
Secondary Data Source:
Secondary data refers to data which is collected by someone who is
someone other than the user or the researcher. Common sources of
secondary data include research notes conducted by others, details
available on websites, textbooks, magazine articles etc.
In our case, our secondary data sources are exit interview details of
previous employees, details from Hello Kids Website and Other Articles
on Employee Benefits (Google).
Questionaries’
Result
Conclusion
Recommendation
About Hello Kids
Type of benefits in Hello Kids