• For employees (workers) covered under 12(3) settlement of Industrial Disputes Act are provided with statutory and non-statutory welfare and compensation as agreed and signed.
• There are certain organization which cover their staff under bipartite settlements (eg. L&T).
• Management staff are provided salary, perks and benefits as per policies approved for each establishment under the organization. In the last five years with subsequent changes in taxation and coverage of monetary gains of executives as earnings taxable, many corporates in India have started umbrella coverage of actual expenses (personal and social) of executive's as compensation & welfare, including credit card payments. This coverage may vary with the level, grade and position of the management staff.

With the technological developments taking place at a higher rate, the salary packages are too increasing at a much higher rate. Recently a Hewitt Associates LLC, Pleasanton, CA, study found salaries in developed economies were growing at single-digit increments, while Indian salaries were galloping at double-digit levels.

Some current trends are:

It is interesting to track the changes—some quite radical—in the Indian compensation scene. The following are true of most organizations today:

• Compensation is now viewed as the total “cost to company,” (CTC) rather than an employee’s net pay alone. As the environment gets competitive, such an approach helps organizations take a holistic view of what could be the costs and the operating margins.

• Variable pay based on individual performance is the norm, and a larger percentage of the Indian salary is based on performance.

• Organization performance also is factored in while structuring salary increases.

• Some organizations also have implemented highly evolved systems, such as the “economic value added” (EVA) framework, ensuring a performance-oriented culture throughout the organization applicable to all employees.

• Basic, guaranteed pay has seen a gradual reduction.

• Benchmarking against organizations, both nationally and internationally, has become common.

• Employee stock options (ESOPs) that were, a few years back, considered as valuable compensation components have ceased to be so given the erratic nature of the stock market and the lock-in periods.

• Non-taxable benefits, which increased the net “take-home” of an employee, are now subject to the Fringe Benefits Tax (FBT), and so organizations are forced to take second looks at these components.

• Retirement benefits are left to what is mandated by the government. Organizations that were contributing to a superannuation fund for the employee now have to pay the FBT.

• Pension benefits and other similar social security benefits are not on the radar screen of compensation experts in India today, but this component could be under significant discussion and speculation in the coming years.

http://www.worldwideerc.org/Resources/MOBILITYarticles/Pages/1106gwalani.aspx

http://businesstoday.intoday.in/story/ceo-compensation-anandorup-ghose-aon-hewitt/1/189758.html

http://www.naukrihub.com/payroll/indian-industry/

Dear Professors,

Is there any research / review articles about Compensation Management & Welfare Measure in directly or indirectly, Kindly share to me for my research please.

Thanking you in anticipation,

Kind Regards,

R.Gopinath.

Could be good for your research. As salary is mostly confidential, suggest to visit some industries around your place to gather more information.

http://www.easterncoal.gov.in/ncwa-ix.pdf

http://www.steffiwalter.de/resources/ISQ_forthcoming.SWalter.pdf

http://indianresearchjournals.com/pdf/ijmfsmr/2013/august/5.pdf

http://www.iaeme.com/MasterAdmin/UploadFolder/EXPLORING%20HUMAN%20RESOURCE%20MANAGEMENT%20PRACTICES%20IN%20SMALL%20AND%20MEDIUM%20SIZED%20ENTERPRISES%20WITH%20SPEC/EXPLORING%20HUMAN%20RESOURCE%20MANAGEMENT%20PRACTICES%20IN%20SMALL%20AND%20MEDIUM%20SIZED%20ENTERPRISES%20WITH%20SPEC.pdf

Dear Prof. Gopinath, the papers detailed as under I believe may help you a bit. Regards.

v    B.K. Punia and P. Sharma, “Role of Compensation and Reward Practices in Influencing Employees’ Retention Intentions: The Case of Indian IT Industry”, Amity Management Analyst, V (1), January-June, 2010, pp. 9-23.

v    B.K. Punia and R. Siwatch, Performance Based Payment Practices for University Faculty in India: The Case of Academia Readiness for Possible Implementation, Gumbad Business Review, 5(2), January-June 2010, pp. 51-63

v    B.K. Punia and P. Sharma, Employees’ Attribution to Compensation Practices as a Retention Tool for IT Sector. In S.C. Kundu, Vinod Kumar and Karam Pal (Eds.) Contemporary Researches in Business Management, New Delhi: Vayu Education of India, 2009, pp. 70-76.

Dear Prof.BK Punia, 

Dear Professor,

Warm Greetings!!!

Kindly send the full text / Article/Manuscript for the following your stated three references for my research review purpose please.

1) B.K. Punia and P. Sharma, “Role of Compensation and Reward Practices in Influencing Employees’ Retention Intentions: The Case of Indian IT Industry”, Amity Management Analyst, V (1), January-June, 2010, pp. 9-23.

2) B.K. Punia and R. Siwatch, Performance Based Payment Practices for University Faculty in India: The Case of Academia Readiness for Possible Implementation, Gumbad Business Review, 5(2), January-June 2010, pp. 51-63

3) B.K. Punia and P. Sharma, Employees’ Attribution to Compensation Practices as a Retention Tool for IT Sector. In S.C. Kundu, Vinod Kumar and Karam Pal (Eds.) Contemporary Researches in Business Management, New Delhi: Vayu Education of India, 2009, pp. 70-76.

Thanking you in Anticipation,

Kind Regards,

R.Gopinath