Thursday, August 28, 2008

Income Tax


COMPUTATION OF INCOME UNDER THE HEAD “SALARIES”.

WHAT IS “SALARY”?

Relationship between payer and payee-
The relationship between payer and payee should be
of an employer and employee, or master or servant.
Only then the amount received will be treated as salary.

Employer may be:
· An individual, firm,
· Association of persons,
· Company, and corporation,
· Central Government,
· State Government,
· Public body or a local authority.

Employer may be operating in India or abroad. The employee may be full time or part time.

The important point is that payment received by an individual from a person other than his employer cannot be termed as salary and

consequently such income is not chargeable to tax under the head “Salaries”.

Salaries and wages not conceptually different.

SALARIES UNDER SEC 17(1)

Under Sec17 (1) salary is defined to include the following:

(a) Wages;

(b) Any annuity or pension;

(c) Any gratuity;

(d) or in addition to any salary or wages;

(e) Any advance of salary;

(f) Any payment received by an employee in respect of any period of leave not availed by him,

(g) The portion of the annual accretion in any previous year to the balance at the credit of an employee participating in a recognized provident fund to the extent it is taxable.

(h) Transferred balance in the recognized provident fund to the extent it is taxable
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Wednesday, August 27, 2008

MANAGERIAL STYLE

MANAGERIAL STYLE

DEDICATED INDICATORS
• Determined
• Aggressive
• Confident
• Busy-Driving
• Sets Tasks- Fixes responsibilities
• Demands performance
• Independent – Ambitious
• Uses rewards & punishment for control
• Workaholic
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What Determines Organizational Structure?

À To what degree are tasks subdivided into separate jobs?
Á On what basis will jobs be grouped together?
 To whom do individuals and groups report?
à How many individuals can a manager efficiently and effectively direct?
Ä Where does decision-making authority lie?
Å To what degree will there be rules and regulations to direct employees and managers?
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CRM in insurance companies(WHY)
The insurance industry has been booming in India and companies are going overboard to get and retain customers.CRM has proved to be an effective tool for better customer relationships for the insurance companies.The aspects where insurance companies have been able to apply CRM.
•Appointing insurance advisers.
•In order to extend the reach of the company,
1.Advertise on mass media.
2.Internet websites to establish contact with potential customers.
3.Through these websites a suitable insurance products are offered to the prospect for investment
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HRM OUTSOURCING
As we know that one of the biggest impacts to the HR profession is HR outsourcing business… it is also one of the biggest areas of opportunity.
Outsourcing of HR function is to be the part of an integrated business strategy.
The key factor for the senior management team and HR professionals to identify the core HR processes, and the non-core processes that can be outsourced. It is increasingly being recognized that human resources are a source of competitive advantage for organizations, particularly in the information and knowledge sectors.
Various stakeholders in the organization such as the line managers, CEOs and employees have urged the HR department to play the role of a strategic partner. The core aspects of HR function related to transformation consist of attracting and retaining talent, building people capability in the organization, developing a leadership pipeline and creating a learning organization.
HR Outsourcing is the outsourcing of one or more HR processes to a third party provider. Total HR Outsourcing (HR BPO) is the outsourcing of a majority of HR processes.

Present scenario of HRM outsourcing
HR Outsourcing today is a $32.7B business and growing at a rate of more than 25% per year… and projected to grow at that rate through 2008. It is a faster growing business than HR Consulting.

YES, HR- outsourcing is accepting in INDIA in some of the companies that I have mentioned below:
The HR outsourcing business opportunity is large and India is likely to garner a larger and larger piece of this pie in the future. India, with its intrinsic advantages such as low cost, ready pool of English speaking manpower and geographic positioning, is emerging as a viable destination for HR outsourcing companies to set up their businesses.
But still here people are not very clear about what exactly is manpower outsourcing all about, and issues like quality and trust needs to be addressed properly. Experts say the basic reasons hampering the growth of HR outsourcing in India are confidentiality and cost factors. Moreover, the fear of losing jobs, losing control over confidential data, ethics and quality of outsourcing vendors, security breaches and overall confidence in the vendors deters many organizations. The biggest problem - and this is why the HR outsourcing industry in India is on the back foot - is the government and the industry's failure to tackle issues like data security and data privacy. This is where Indian HR outsourcing companies face a major handicap. The Indian government is still grappling with drafting a data protection law designed to quell growing privacy concerns from their offshore clients.

Companies under HR-Outsourcing:

· XENSA
· Jaisons Technologies
· Pinnac Infotech Services
· SwarajComm Technologies Pvt Ltd
QBmedia

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This project report bears the imprint of those who had rendered their wholehearted support and encouragement without whose help this effort of mine would be in vain. I express my deep sense of gratitude and sincere thanks to my project guide Mr. Amit Kumar Singh and Ms.Shikhy Khanna for his directions, suggestion and information provided which were of utmost importance for the successful completion of the project. I am also thankful to Pro. Balraj Singh for his proper guidance.
At last, I also thank the employees of National HDFC Bank for assisting me in the timely completion of project.

Distribution Network
HDFC Bank is headquartered in Mumbai. The Bank at present has an enviable network of over 761 branches spread over 327 cities across India. All branches are linked on an online real-time basis. Customers in over 120 locations are also serviced through Telephone Banking. The Bank's expansion plans take into account the need to have a presence in all major industrial and commercial centres where its corporate customers are located as well as the need to build a strong retail customer base for both deposits and loan products. Being a clearing/settlement bank to various leading stock exchanges, the Bank has branches in the centers where the NSE/BSE have a strong and active member base.
The Bank also has a network of about over 1977-networked ATMs across these cities. Moreover, all domestic and international Visa/MasterCard, Visa Electron/Maestro, Plus/Cirrus and American Express Credit/Charge cardholders can access HDFC BANK’s ATM network
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Monday, August 25, 2008

What is a Product?

A product concept is the idea of a product as conceived by the user. Definition of Product concepts will often be driven by user’s needs and by the user defined usage scenario. It represents the idea of a product based on the user viewpoint. The basic relationships are showed in the simplified Express G.
Product Mix Decisions
Ø A firm may lengthen or widen its product mix
Ø A Company may decide to add variations that will attract new users
Ø A product may be pruned or altered, and new product may extend the product life cycle
Ø Line extension: introduction of a new product that is closely related to other products in the firm’s existing line
Product has a life cycle is to assert four things:
Ø Products have a limited life.
Ø Product sales pass through distinct stages,each posing different challenges,opportunities,and problems to the seller.
Ø Profits rise and fall at different stages of the product life cycle.
Ø Products require different marketing,financial,manufacturing,purchasing,and human resource strategies in each life-cycle stage (For More)

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Thursday, August 21, 2008

Case study on Financial Management

Case study:
Mr. A who is working in government department at the post of clerk? His monthly income is Rs. 10,000 and he is saving Rs 2000 per month. Now, he want to invest these 2000 Rs in some activities but he is confused that where should I invest?
He has many options like:
Insurance
Fixed deposit
Real Estates
Mutual funds
Shares

He took the advice from relative, office mate’s etc. Finally, he decided to invest in mutual funds. He went to karvy office and understood the concepts of Mutual funds.
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Wednesday, August 13, 2008

Mergers and Acquisitions

The phrase mergers and acquisitions (abbreviated M&A) refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling and combining of different companies that can aid, finance, or help a growing company in a given industry grow rapidly without having to create another business entity.Merger is a tool used by companies for the purpose of expanding their operations often aiming at an increase of their long term profitability. There are 15 different types of actions that a company can take when deciding to move forward using M&A. Usually mergers occur in a consensual (occurring by mutual consent) setting where executives from the target company help those from the purchaser in a due diligence process to ensure that the deal is beneficial to both parties. Acquisitions can also happen through a hostile takeover by purchasing the majority of outstanding shares of a company in the open market against the wishes of the target's board. In the United States, business laws vary from state to state whereby some companies have limited protection against hostile takeovers. One form of protection against a hostile takeover is the shareholder rights plan, otherwise known as the "poison pill".Historically, mergers have often failed to add significantly to the value of the acquiring firm's shares. Corporate mergers may be aimed at reducing market competition, cutting costs (for example, laying off employees, operating at a more technologically efficient scale, etc.), reducing taxes, removing management, "empire building" by the acquiring managers, or other purposes which may or may not be consistent with public policy or public welfare. Thus they can be heavily regulated, for example, in the U.S. requiring approval by both the Federal Trade Commission and the Department of Justice.

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HUMAN RESOURCE MANAGEMENT
The objective of the research is to find out the reasons responsible for voluntary employee attrition in Easy Bill Ltd. For the period of April 2007- April 2008 and suggest major areas where work should be done to reduce it.


FINDINGS:
•At 44 % annually there is a very high attrition rate in Easy Bill Ltd. which is much more than the sector average for services sector.
•When considered grade wise there is highest attrition at the middle level followed by the junior level
•More than three fourth of the employees left the their jobs within two years of joining the organization in the specific period contrary to the general tendency of shifting jobs within2-4 years of joining an organization
•Telephonic interviews conducted with the former employees revealed that salary package was the main reason for leaving the organization though the analysis of the graphs revealed that the employees were satisfied with the salaries/perks given
•Expectations like higher position and better or more reputed company were also sighted by a large number of respondents which means their professional expectations were not fulfilled.
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Friday, August 8, 2008

Summer Training Project on PEPSICO.


"TO STUDY AND ANALYZE THE MARKET OF PLASTIC BOTTELS AND GLASS IN FORTHCOMING DAYS"

I have completed this project on “TO STUDY AND ANALYZE THE MARKET OF PLASTIC BOTTELS AND GLASS IN FORTHCOMING DAYZ , as practical training targeting towards acquiring total knowledge of company working in the SALES department.

The objective of having a summer project is to have an opportunity to learn various Sales & Marketing practices which are actually practiced by top managers and executives.

I choose VARUN BEVERAGES , Greator Noida, which is one of the franchise of a big soft drinks company that is PEPSI CO..

This report includes first hand study of MARKETING AND SALES to acquire vivid knowledge??????????????????????

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Motherson Sumi Systems Ltd. (MSSL) is the flagship company of Sumi Motherson Group. The wiring harness division of MSSL is the largest manufacturer of wiring harnesses in India, Serving the entire cross-section of the automotive industry. The main objective for carrying out the study is:

· To find out the effectiveness of the recruitment process at MSSL on the basis of the data available for the last six months
· To find out the areas where the recruitment process is lacking using different tools of management
· To give recommendations to correct the recruitment process as per the findings

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?????????????????? (for more)

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Monday, August 4, 2008

Summer Training Project on PEPSICO.

"TO STUDY AND ANALYSE PRE SALE ORDER BOOKING SYSTEM"
In summers with rise in mercury level the demand for cold drink springs up to quench the thirst of millions of people. As competition is on its apex between two major cold drink giants’ PepsiCo and coca cola they are trying to catch every customer with their wide range of products and making these available everywhere. For this distribution system is main area of focus.
This project deals with PepsiCo new distribution technique called Pre sale order booking system. As Pepsi got a wide range products and no. of SKU is increasing day by day. Main objective of this scheme is making Pepsi range available everywhere. It is important to select right retailer and build good relation with them to ensure availability of products in retail shops, which is a very important aspect of this business. Retailers and PSR are very important part of this system. For this reason the project was assigned to me, titled as TO STUDY AND ANALYSE PRE SALE ORDER BOOKING SYSTEM. For that I prepared a questionnaire for retailer to collect relevant information..........................????????????????????


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"DESCRIPTIVE STUDY OF MUTUAL FUNDS AND STUDY OF INVESTORS PERCEPTION ABOUT INVESTMENT IN MUTUAL FUNDS"

“Expression of feelings by words makes them less significant when it comes to make statement of gratitude”
It gives me pleasure to express my most profound regards and sense of great indebtedness and sincere gratitude to my Company Guide Mr. Tarun Singh (Regional Manager, MAHINDRA Finance ltd. Gurgaon).
I would also like to thank my co employees who gave guidance and support during the completion of the project.
Investment in share markets are influenced by the analysis & reasoning which help in predicting the market to some extent. Over the past years a number of technical & theories for analysis have evolved, these combined with modern technology guides the investor. The big players in the market, like Foreign Institutional Investors, Mutual Funds, etc. have the expertise for various analytical tools & make use of them.......................................................................


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THIS PROJECT IS BASED ON "Distribution channel of JAY PEE "

A project of this nature calls for intellectual nourishment, professional help and encouragement from quarters. I would like to express my gratitude to Mr. Sunny Gaur, in-charge for granting me permission to granting me permission to my training in plant.
Journey of my summer training thus far has been made possible with the support and encouragement by INMANTEC & JAY PEE CEMENT LIMITED.Special thanks to Mr. Pankaj gupta who is the Executive Director of my collage & Mr. A.K.Antony he is senior journal manager of training and development deportment ............................................................

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