The Rewarding Function of Human Resource Management at EFU General
Letter of Transmittal
December 6th 2010
Mr Abdullah Patoli
Faculty HRM
Institute of Business Management
Korangi Creek Karachi, Pakistan
Dear Mr. Patoli
Here is a report on the ‘Practice of Rewarding function of Human Resource Management at EFU general’ (PPLK), authorized by you on 19th October 2008 and submitted to you on 6th December 2010.
This purpose of this report is to analyze how the rewarding function of Human Resource management is practiced at EFU general in Pakistan, a leading insurance company in the country. For this reason a process consisting of thorough primary and secondary research was carried out. We analyzed the data on EFU from the internet and had a detailed meeting with Mr. Altaf Baig Hear Human Resource department at EFU who provided us with all the details.
Throughout this process we got many experiences by witnessing ourselves the corporate pay structures and incentive plans. We would like to help you whenever you require our skills and would like to offer you, in case you need us, in interpreting this report or a section of it.
It was a great pleasure working with the people at EFU. Thank you for providing us with such a great opportunity.
Yours Sincerely
Tasawwur Zubair ()
Hayat Omer Malik (7608)
Uzair Farhat
Ahsan
Mohammed Shoaib Qureshi
Table of Contents
Background of the Company: 4
EFU’s compensation structure 5
Direct Compensation 5 Pay structures and Grades 6 Benefits and Allowances 7 House Rent Allowance 7 Medical Allowance 7 Travelling Allowance: 7 Technical allowance 8 Utility Allowance 8 Entertainment Allowance: 8 Hotel Accommodation 9 Motor Vehicle 9 Club Subscription 11 Mobile Phone and Air Time 11 Bonuses 11
Incentives and Recognition 12
Indirect Compensation 13 Vacations 13 Various Kinds of insurance 13 Sick Leaves 13
Conclusion 14
Background of the Company:
EFU was established in 1932. After the partition EFU transferred its head office
December 6th 2010
Mr Abdullah Patoli
Faculty HRM
Institute of Business Management
Korangi Creek Karachi, Pakistan
Dear Mr. Patoli
Here is a report on the ‘Practice of Rewarding function of Human Resource Management at EFU general’ (PPLK), authorized by you on 19th October 2008 and submitted to you on 6th December 2010.
This purpose of this report is to analyze how the rewarding function of Human Resource management is practiced at EFU general in Pakistan, a leading insurance company in the country. For this reason a process consisting of thorough primary and secondary research was carried out. We analyzed the data on EFU from the internet and had a detailed meeting with Mr. Altaf Baig Hear Human Resource department at EFU who provided us with all the details.
Throughout this process we got many experiences by witnessing ourselves the corporate pay structures and incentive plans. We would like to help you whenever you require our skills and would like to offer you, in case you need us, in interpreting this report or a section of it.
It was a great pleasure working with the people at EFU. Thank you for providing us with such a great opportunity.
Yours Sincerely
Tasawwur Zubair ()
Hayat Omer Malik (7608)
Uzair Farhat
Ahsan
Mohammed Shoaib Qureshi
Table of Contents
Background of the Company: 4
EFU’s compensation structure 5
Direct Compensation 5 Pay structures and Grades 6 Benefits and Allowances 7 House Rent Allowance 7 Medical Allowance 7 Travelling Allowance: 7 Technical allowance 8 Utility Allowance 8 Entertainment Allowance: 8 Hotel Accommodation 9 Motor Vehicle 9 Club Subscription 11 Mobile Phone and Air Time 11 Bonuses 11
Incentives and Recognition 12
Indirect Compensation 13 Vacations 13 Various Kinds of insurance 13 Sick Leaves 13
Conclusion 14
Background of the Company:
EFU was established in 1932. After the partition EFU transferred its head office