INNOVATION IN AREA OF EMPLOYEE BENEFITS D. K.

Transcript:INNOVATION IN AREA OF EMPLOYEE BENEFITS D. K.:
INNOVATION IN AREA OF EMPLOYEE BENEFITS D. K. Pandit Jayesh Pandit M/s K.A. Pandit CONTRACT EMPLOYEES-- REGULAR EMPLOYEES PUBLIC SECTOR-- PRIVATE SECTOR ORGANISED SECTOR--- UNORGANISED SECTOR SELF EMPLOYED, HOME SERVENTS, FAMILY EMPLOYEES M/s K.A. Pandit FINANCIAL REQUIREMENT DURING ACTIVE LIFE AND POST ACTIVE LIFE ,CITY -TOWN -VILLAGE MINIMUM RUPEES 1OO PER DAY PER PERSON IN VILLAGE MINIMUM RUPEES 200 PER DAY PER PERSON IN SMALL TOWN MINIMUM RUPEES 300 PER DAY PER PERSON IN BIG TOWN MINIMUM RUPEES 500 PER DAY PER PERSON IN CITY MINIMUM RUPEES 1000 PER DAY PER PERSON IN METRO CITY THIS IS AS PER CURRENT FINANCIAL STANDARD EXPECTED TO RISE DUE TO INFLATION M/s K.A. Pandit AVENUES AVAILABLE - AVENUES POSSIBLE AVENUES AVAILABLE ARE PLENTY BUT NOT PROPERLY EXPLORED AS EXPANSION OF BHARAT TAKES PLACE UNDER E GOVERNANCE AVENUES WILL INCREASE. PROPER HEALTHCARE AND POST EMPLOYEMENT BENEFIT WILL BE POSSIBLE IF GOVERNMENT SOCIAL RESPONSIBILITY IS UTILISED AND PROPERLY MANAGED. IT IS ONLY AFTER ALL NEEDS DURING WORKING LIFE IS MET AND MINIMUM SAVING IS MADE FOR THE FUTURE A PLAN CAN BE DEVISED. ACTUARIAL IN PUTS ARE POSSIBLE AND WE SHOULD IMPRESS UPON OUR ABILITIES AND TOOLS. M/s K.A. Pandit BENEFITS FROM GOVERNMENT SCHEMES MANDATORY FOR ORGANISED SECTOR As per Payment of Gratuity Act M/s K.A. Pandit GOVERNMENT SCHEMES FOR ALL IN FORM PRADHAN MANTRI VARIOUS YOJANAS THESE ARE AVAILABLE ON GOVERNMENT SITE AND WE CAN IMPRESS UPON NEED TO CONSULT ACTUARIES FOR VALUING AND PROPER MANAGEMENT WHERE POSSIBLE. M/s K.A. Pandit YOUNG INDIA EXPECTATIONS RESPONSIBILITY IT IS OBSERVED AND STRESSED UPON BY OUR MODIJI THAT 65% OF OUR POPULATION IS YOUNG. THEIR EXPECTATIONS AND DREAMS ARE VERY BIG. IT IS FACT THAT THEIR RESPONSIBILITY IS TO WORK FOR BETTER FOR THEMSELVES AND NATION. IDLE MIND IS DEVIL’S WORKSHOP THEY MUST BE EMPLOYED TO DO WORK WHICH THEY CAN DO M/s K.A. Pandit NEW PENSION SCHEME NEED FOR POPULARISING THE SAME COUPLED WITH HEALTH CARE THIS IS WHERE MANY GET SELF OR SIDE EMPLOYMENT ACTUARIES ARE AND WILL BE NEEDED TIME WILL DETEREMINE M/s K.A. Pandit MORTALITY RATE IN NEW SECTORS DEFFICULT TO DETERMINE DUE TO EMPLOYEE ATTRITION RATE . THIS STATEMENT IS TRUE FOR DETERMINING MORTALITY RATE WHILE IN SERVICE OF ANY SMALL OR MEDIUM ORGANISED SECTOR . THIS CAN BE POSSIBLE PARTLY IN EPFO M/s K.A. Pandit EMPLOYEE BENEFIT AND ACTUARIAL VALUATIONS MR.JAYESH.PANDIT WILL TALK ABOUT VARIOUS POST EMPLOYEMENT BENEFITS WHICH REQUIRE ACTUARIAL