Study on employees perception towards financial planning at welspun India ltd.

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Summer Internship Project Report
On
‘STUDY ON EMPLOYEES PERCEPTION TOWARDS FINANCIAL PLANNING’
At
Welspun India Ltd.
Institute Code: 716
GIDC RAJJU SHROFF ROFEL INSTITUTE OF MANAGEMENT STUDIES
Under the Guidance of
Prof. Dr. Aabha S. Shingvi
Professor
In partial fulfillment of the requirement of the award of the degree of
Master of Business Administration (MBA)
Offered By
Gujarat Technological University
Ahmedabad
Prepared By:
Singh Anjali Kumari Vijay Singh
197160592064
MBA (Semester-III)
July 2020

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STUDENT DECLARATION
I hereby declare that the summer internship project report titled “ Study
on employees perception towards financial planning” in Welspun
India limited is a result of my own work and my indebtedness towards
work publications,refrences, if any, have been duly acknowledged. If I
am found guilty of copying from any other report or published
information and showing as my original work, or extending plagiarism
limit, I understand that I shall be liable and punishable by the university,
which may include ‘ fail’ in examination or any other punishment that
university may decide.
Enrollment No. Name
197160592064 Singh Anjali Kumari Vijay Singh
Place: Vapi Date: 05/06/2020

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CERTIFICATE OF EXAMINER
This is certify that project work embodied in this report title ‘ Study on employees
perception towards financial planning” was carried out by Miss Singh Anjali
Kumari Vijay Singh and her Enrollement No.197160592064 of GIDC Rajju Shroff
Rofel Institute of Management Studies, Vapi and code:713.
The report is approved/ not approved
This report is for the partial fulfillment of the requirement of the award of the degree
of master of business administration offered by Gujarat Technological University.
--------------------------------------------------
(Examiner’s Sign)
Name of Examiner:
External Examiner’s Institute Name:
External Examiner’s Institute Code:
Date:----------------------------------- Place:------------------------------

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PREFACE
To be an MBA student is a matter of pride because we are in a field that helps us to
develop our self from a normal human being into a disciplined and professional. In
the management field you cannot create success stories if you are not a good learner.
You need to be a good knowledge to sharpen your knowledge in the particular field to
achieve and attain the desired goals and heights.
Summer training is an integrate part of master of business administration program.
The main objective of summer training is to work in the organization for a stipulated
period and gain the valuable knowledge of management skills so that the student can
learn how to work as a team instead of individual and how to handle critical situation
in the business.
The knowledge gained by reading the book is just theoretical in nature. Summer
training is an opportunity to every student to learn practical aspect, a part from
academic knowledge. As a practical point of view, I completed my summer training
in ‘WELSPUN INDIA LIMITED’ which gave me the practical knowledge of
handling the workers with the perfect leadership style of the supervisors in various
situation and how to achieve the organizational objective learn a lot from this training
about a corporate life, which will be useful further in my professional life.

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ACKNOWLEDGMENT
It is indeed a great pleasure to express our thanks and gratitude to all who helped us
during this project.
I will like to thank Prof. Dr. Aabha S. Singhvi for her guidance and encouragement
throughout the project. Her experience and unending patience could see us and who
showed us the right path I was faltered or had doubt.
Also we would like to thank our Director Dr. kedar Shukla for allowing us to carry
out this project. Also we are grateful to staff of GRIMS for their suggestion and
inspiration.
In addition I will like to express our profound gratitude to Mr Nilesh Kapadia for
giving us a valuable opportunity to learn in WELSPUN INDIA LTD without his
guidance and information the project would not have been completed.
I will like to express our most sincere thanks to GUJARAT TECHNOLOGICAL
UNIVERSITY for giving us an unmatchable opportunity to learn and progress. This
will surely enable us to move forward in the field of management. It was a great
practical experience where we could learn how the books were implied into
industries.
I will also like to thank our family members and all our classmates who helped us a
lot and gave new ideas for project.

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EXECUTIVE SUMMARY
This project is an attempt to know how the theories can be applied to practical
situation. As the student of MBA, it is a part of study for everyone to undergo
project at some good institute or organization. So for this purpose, I got the
opportunity to do the project at “WELSPUN India Ltd.”.
This project is in two parts, First of the project reports include general
information regarding company i.e. company profile, product profile,
company’s departments and company organization structure.
While later part includes “Study on employees perception towards financial
planning” for which the primary data has been gathered through questionnaire
method and sample has been selected on convenience basis.
After analyzing and interpretation of the data, some findings have being
presented.
The research report is fully prepared by me and the confidential information is
being secret so that the others can’t take advantage of. The project report is
prepared with best of my knowledge and skills.

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PLAGIARISM REPORT
Document Information
Analyzeddocument Anjali( SIP project).docx(D75148965)
Submitted 6/17/2020 3:39:00PM
Submittedby Rofelmba
Submitter email mba716owner@gtu.edu.in
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Analysisaddress mba716owner.gtuni@analysis.urkund.com
Sources included in the report
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ARATI.docx
Fetched: 5/21/2020 9:42:00 AM
URL: https://download.atlantis-press.com/article/125907895.pdf
Fetched: 6/17/2020 3:42:00 PM
URL: https://www.slideshare.net/shubhamtandan1/dissertation-
financial-plannning-of-indi ...
Fetched: 10/7/2019 5:10:54 AM
URL: A STUDY OF FINANCIAL PLANNING OF INDIVIDUALS
WITH.pdf
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involved-in-financial-planning/
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URL: priya singh.doc
Fetched: 5/25/2020 1:52:00 PM

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INDEX
SR.NO. PARTICULARS PAGE NO:
1. Company study 12
1.1 Company history 13-14
1.2 Company profile 15
1.3 Key people 16
1.4 Company capital 17
1.5 Vision 17-18
1.6 Motto 18
1.7 Product profile 19-24
1.8 Brand portfolio 25-26
1.9 Organizational chart 28
1.10 Competitors of company 29
1.11 Departmental study 30-32
1.12 Awards 33
2 Introduction of study 34
2.1 Literature review 35-38
2.2 Background of the study 39-51
2.3 Problem statement 52
2.4 Objective of the study 52
2.5 Hypothesis 53-56
3 Research methodology 57-58
3.1 Research design 57-58
3.2 Sources of data 57-58
3.3 Data collection method 57-58
3.4 Limitations of study 57-58
4 Data analysis and interpretation 59-102
5 Findings 103-105
6 Suggestions 106-107
7 Conclusion 108-109

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8 Bibliography 110-111
9 Annexure 112-116

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1.1 ABOUT WELSPUN INDIA LIMITED
(Figure 1.1 Welspun India Limited)
➢ On 17 January 1985, Welspun India Ltd. Was established as a private
Limited Company.
➢ In the initial stage the name of Welspun India Limited Is ‘Welspun
Winilon Silk Mills pvt. Limited’ which is a synthetic yarn business
which went on to become ‘Welspun Polyster Limited’ But, in 1995 the
name changed from Welspun polyster to ‘WELSPUN INDIA
LIMITED’.
➢ Today Welspun India Limited is Asia’s largest and second largest terry
towels producers in the world, with a network across 50 countries.
➢ About 95% of Welspun India Limited’s production is exported to
various countries across the world.
➢ It is classified as Non-government Company and is registered at
registrar of companies, Ahmedabad.
➢ The main purpose of establishment of Welspun India Limited is to
manufacture Polyster filament yarns (PFY) and polyster texturised
yarns (PTY). But slowly and gradually it cames in the business of
spinning, weaving and finishing of textiles.
➢ The company has got ‘ISO 9002’ for its state of the art technology.
➢ The authorized share capital of Welspun India Limited is
Rs.1560000000 and it’s paid up share capital is Rs.1004725120.
➢ The registered office of Welspun India Limited is ‘Welspun city
village Versamedi Anjar GJ 370110.
➢ Welspun India Limited’s corporate identification number is (CIN)
L17110GJ1985PLC033271 and its registration Number is 33271.

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➢ The last general meeting of Welspun India Limited was held on 12
August 2019, as per the records from ministry of corporate affairs
(MCA).
➢ The company had published their last balance sheet on 31st
March
2019.
➢ The manufacturing facility of Welspun India limited is established in
Anjar and Vapi located in Gujarat, Mexico, Portugal and in UK.
➢ The distribution network of company is in more than 50 countries is
the key driver of our exports edge, making us the largest exporter of
home textiles products from India.
➢ Welspun is proactively involved in a highly developed CSR
programme. Like:-Education, Empowerment and health and
Environment.
➢ The company has also been awarded with the ‘OKOTEX Certification’
for its environment friendly manufacturing process.
➢ The product range of Welspun India Limited covers the followings:-
-Bedding,
-Bed sheets,
-Pillow cases,
-Comforters,
-Quilt,
-Bath rugs,
-Terry Towels,
-Bath Robes,
-carpets,
-Infrastructure,
-Power/Energy,
-pipes,
-Steel,
-Plates and Coils.

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1.2 COMPANY PROFILE
Founder Gopi Ram Goenka
CIN L17110GJ1985PLC033271
Company Status Active
Registration No 33271
Date of Incorporation 1985,Mumbai
Class of company Private Company
Industry Textile
Key people B.K. Goenka( chairman)
Dipali Goenka(CEOand Joint MD)
Products Terry Towels and home furnishing
Parent Welspun group
Subsidiaries Welspun USA
Welspun Tabular LLC
Welspun Middle East
Welspun UK
Website https://www.WelspunIndia.com
Company E-Mail Companysecretary-WIL@welspun.com
Company Category Limited by shares
Company Sub Category Non-Government company
Listing Status Unlisted
Date of last general meeting 12th
August 2019
Date of latest Balance Sheet 31st
March 2019

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1.3 KEY PEOPLE OF WELSPUN INDIA LIMITED.
DIPALI GOENKA
(CEO AND JOINT MD)
B.K.GOENKA
(CHAIRMAN)
RAJESH R. MANDAWEWALA (MANAGING DIRECTOR)

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1.4 COMPANY CAPITAL
Authorized Capital= Rs.156000000
Paid up share capital= Rs.1004725120
1.5 VISION
Delight our customer through innovation and technology; achieve
exclusive and sustainable growth to remain eminent in all our
business. Our employees are our most important assets through
which we can achieve our mission that is why we are committed to
providing our employees ongoing training and lifestyle benefits.
We are committed for the continuous growth of the company, so as
to fulfill the expectations of our customers, employees and
shareholders. We want be a globally innovative and competitive
business providing 100% honest services to our customer. We are
enthusiastic to total customer satisfaction by providing quality
products and services.
We aim to …………..
Emerge as a global leader…
Authorised
capital
Paid Up Share
Capital
Company Capital

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Preferred by every home serve…….
With passion grow………@ speed innovative……
With quality excel………With ethics delighting all
stakeholders………
We are…..WELSPUN
We commit ourselves to continuous growth so as to fulfill the
aspirations of our customers, Employees and shareholders.
1.6 MOTTO:-
“DARE TO COMMIT”

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1.7 PRODUCT PROFIL
1) Terry Towels: - Welspun manufacture terry towels in
different shape and sizes. Some of the towels are intended for
use in a particular setting, such as beach towels, or for a
particular purpose, such as kitchen towels and baby hood
towels, or in a size convenient for a special use, such as hand
towels, face towels and bath sheets. Being woven out of 100%
cotton yarn, these fabric acquire significant hygroscopic
property, which is a prime reason for using terry fabrics in
home textiles in general and towels and bath robes in particular
2) Bed sheets:-Welspun manufacture bed sheets in
different shapes and size based on different bed sizes
and mattress depth. Our bed sheets are made from
cotton or various blends, such as polyster cotton, cotton
bamboo and cotton eucalyptus.

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3) Bed Rugs:-Welspun is able to make rugs of various
designs. Our rugs are generally made of cotton, nylon or
micro fiber and can be latex-backed, depending on
consumer preferences.
4) Carpets:-The Company is a recent entrants in a carpet
segments. The carpet facility was completed in FY 2014 and is
expected to start generating revenues in FY 2015. The company
will be initially focusing on decorative carpets.
5) Flooring solutions
6) Pillow cases: - It is one of the basic bedding and decorative
bedding products. Most of these products are made of polyster

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fiber fill wadding. The fill we use for each product varies
according to customer requirements.
7) Rugs
8) Bath Robes:- Welspun manufactures bath robes in different
designs, shades and weights as per customer requirements. It has
the ability to make piece dyed, yarn dyed, jacquard and velour
bath robes. The bath robes are manufactures in different styles
such as KIMONO, HOOD, ZIPPER and SHAWL. Welspun
specializes in the manufacture of a specific category of bath
robes called WRAPS. It also provides embellishments,
embroidery and prints as per customer requirements. The fabric
for our bath robes is similar to the fabric of our towels.

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9) Steel Alloy:-Alloy steel are made of iron, carbon and other
elements such as vanadium, silicon,nickel,manganese,copper
and chromium. When other elements comprising metals and
non-metals are added to carbon steel, alloy steel is formed.
10) Hot Rolled MS Coil: - It is steel that has been roll pressed at
very high temperatures over 1700 degree farenhight.

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11) Construction Services
12) Iron Pipe

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1.8 Brand Portfolio
1) Spaces: - Spaces brand are high on the premium quotient, engaging with the
luxury seeking costumers in domestic and international markets respectively. Spaces
brand was launched in the year 2004.
2) Christy: - Christy is one of the other premium brands which are used by the
company. Christy has emerged as the prefferd choice for consumers in the UK with
its luxury towels, bed linen and home accessories. The Christy brand is not only
popular in UK but also in the US, China and the Middle East. Christy is Inspired by
innovation, luxury, integrity and trust.
3) Welhome: - it is one of the domestic brand of Welspun India
Limited.

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5) Kingsley Home:-Mass brand in the UK with a focus on
bedding. Growing aggressively in affordable fashion.
6) Wimbledon Towels:-Suppliers of the Wimbledon towels. A
souvenir that even the star tennis players covet.
5) Other Brands are as follows:-

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1.9 Organizational Chart of Welspun India limited
WELSPUN GROUP
TEXTILES LINE PIPES, PLATE AND
COILS, INFRASTRUCTURE
OIL AND GAS
COILS
STEEL ENERGY
Y
WELSPUN INDIA LTD.
WELSPUN MEXICO
S.A.DE.C.V.
WELSPUN ZUCCHI
TEXTILE LTD.
WELSPUN GLOBAL
BRAND LTD.
WELSPUN USA INC.
WELSPUN UK LTD.
WELSPUN SOREMA
EUROPE S.A.
WELSPUN RETAIL
LTD.
WELSPUN SYNTEX
LTD.
WELSPUN CORP LTD.
PLATE AND COIL
DIVISION
PIPES DIVISION
WELSPUN PIPES
INC.
WELSPUN
TABULAR LLC.
WELSPUN GLOBAL
TABULAR LLC.
WELSPUN NATURAL
RESOURCES PVT.LTD.
WELSPUN
INFRATECH LTD.
MSK PROJECTS
(INDIA) LTD.
WELSPUN STEEL
LTD.
REMI METALS
GUJARAT LTD.
WELSPUN
MAXSTEEL
LTD.
SOLAR

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1.10 Competitors of Welspun India ltd.
➢ BOMBAY DYEING
➢ ALOK INDUSTRIES
➢ LUMAX Industries LTD.
➢ Agrim Components Pvt. Ltd.
➢ Piramal Group
➢ Indo Count Industries Limited
➢ TRIDENT GROUP
➢ Siddhi Engineering Company
➢ Vardhaman Group
➢ Raymond Industries
➢ Arvind Mills Limited
➢ Wall mart

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1.11 Departmental Study:-
1. Finance and Accounting Department
a. Finance Department Activity:-
-Arranging day to day fund requirement of company
-Fund arrangements include collection from customer, bills discounting,
buyer’s credit, taking cash on credit and overdraft limits from banks.
-Arrangements of long term loan from bank for project finance.
-Activity includes preparation of cash flow, profit and loss statement and
balance sheet of company.
-It also reveals the value and nature of a firm’s assets, liabilities, and
owner’s equity.
-They are also performing internal audit.
- They are providing valuable information on taxation matters.
b. Accounting Department Activity:-
-Accounting is a systematic process of identifying, recording, measuring,
classifying, verifying, summarizing, interpreting and communicating
financial information.
-As one of the jobs of accounting department is to maintain records they
perform the activities mention below:
1. Sales and purchase entries are made in SAP through its bills.
2. Expenses entries are made in SAP through its bills.
3. Recording of collection from customers.
4. Recording of payment to vendors.
5. Finalization of accounts is done by verifying their values.
6. ETC.

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2) Purchased and Store Department Activity:-
- Selection of raw material suppliers
- Storage of raw materials.
- Steps taken for safety of raw materials.
-Dispatch of raw material whenever required by the production
department.
- ETC.
3) Marketing department Activity:-
- All the finished products have been stored in warehouse and have
been dispatched at the time of requirements.
-It conducts market research.
-It makes policy to deals with the competition.
4) Manufacturing and Production Department
Activity:-
- The numbers of employees in the production departments
are 5-6 thousands.
- They work in three shifts:-
First shift: - 8:00 AM To 4:00 PM
Second shift: - 4:00PM To 12:00 AM
Third Shift: - 12:00 AM To 8:00 AM
Steps in Production Process:-
1) Cultivating and harvesting
2) Preparatory Process
3) Spinning
4) Weaving
5) Finishing

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5) Human Resource Department Activity:-
➢ Recruitment and Selection
➢ The Welspun company specially prefers to use the direct
method of recruitment and selection and the followings
are the direct methods:-
Waiting List
Friends and Relatives of present employees
➢ Welfare and motivation of employees.
➢ They use motivational tool like PF, Bonus, Retirement
benefit, medical facility, ESI, Child Education Scheme
Etc.
➢ Maintaining of attendance and identity card.
➢ Increment and promotion
➢ Induction of new recruits.
➢ Induction of internal employees
➢ Training of employees, which include on the job and off
the job training. In on the job training personal
development trainings like seminars are organized for
employees. Off the job training include different exercise
like team building exercises are organized.
➢ ETC.
6) Total Quality Management Department Activity:-
➢ Checking of incoming yarn.
➢ Checking of cabling and heat checking.
➢ Checking of Machine tufting quality.
➢ Checking of table tufting quality.
➢ Checking printing quality.
➢ Checking of coating quality.
7) Logistic department
8) Costing Department
9) Weaving Department

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1.13 AWARDS
➢ India shining Star CSR awards-2011.
➢ Earth care awards by times of India and Jindal steel limited-2008.
➢ Social Corporate governance award-2008.
➢ Sustainability Award-2007.
➢ Top 10 green IT enterprise award-2011.
➢ Ramakrishna Bajaj National quality merit Award for Welspun
Vidhya mandie-2012.
➢ CI0100 Award-2011.
➢ Top exporter for the year 2010-2011- Gold Trophy.
➢ 7th
Indo American Corporate excellence awards -2011.
➢ All India Export Excellence Awards-2010.
➢ Star performer Award for the year 2008-09.

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CHAPTER-2
INTRODUCTION OF STUDY

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LITERATURE REVIEW
➢ Dr. Vikas Shrotria in his research paper “Budgeting: A
financial planning tool for individuals” (2019) stated that each
and every one is doing financial planning and their planning is
affected by various factors like economic, social factors etc. He
said that before doing financial planning, it is necessary to create
budget which will be helpful you in deciding you have a surplus
and deficit finance and with the help of this you can decide wether
you are going to invest or borrow. According to him budgeting
should be short term and long term. So, in this way you can make a
proper financial planning.
➢ M.cull (University of western Sidney) in his research paper
(2009) “The rise of the financial planning industry” stated that
along with the financial planning, development of financial
planning industry is also important. The concept of financial
planning and financial planning industry is not new; it is coming
from the ancient times. Slowly and gradually financial planning
and financial planning industry had grown but the picture is
different from ancient times. There is huge difference between
ancient time’s financial planning industry and modern time
industry. Due to this professionalism like agents, advisors etc had
grown.
➢ Tan Hui Boon (university of Nottingham Malaysia) (2011) in
his research paper “Financial literacy and personal financial
planning” stated that financial literacy is the most important
factors for the financial planning. If an individual have the
knowledge related to finance and how they can use these finance?
Then only he/ she can make a better financial planning. According
to him education level is also one of the most important factors
which are affecting financial planning of an individual. If an
individual is educated then only he/she can manage their assets and
liabilities.

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➢Douglas A. Hershey in his research paper “ Psychological
foundations of financial planning for retirement stated that
Most studies of financial planning have used demographic
indicators like age, gender, income etc but in this study a model of
planning is tested with psychological indicators like future time
perceptive, retirement goal clarity and self related financial
knowledge. He uses path analytic techniques to test the model,
based on data from 265 middle aged working adults. Their findings
suggest that a psychological factor is providing substantial support
for the retirement planning process.
➢Stephen Rudolph in his research “ FINVIS: Applied Visual
Analytics for person Financial planning” Stated that Finvis is a
visual analytics tool that allows the non-expert user to interpret the
return, risk and it is helpful to an individuals in making financial
decision. With the help of this tool an individuals can quickly
choose the best financial portfolio and can view possible outcomes.
He stated in his research paper that this Finvis tool is better
compare to the tabular version.
➢David S. Murphy, Scott Yetmar in his research paper “
Personal Financial Planning Attitudes: A Preliminary study of
graduate students” Stated that His main purpose of study is to
find out the attitudes regarding financial planning of MBA students
in the USA. After making a survey of 206 MBA students they
found that most of the students says that financial planning is
important and they are interested in developing a financial plan.
13% students said that they are doing financial planning by
himself/herself and remaining are taking support of financial
advisors.

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➢ Ming –Ming lai, Wei Khong Tan in his research paper “An
empirical analysis of personal financial planning in an
emerging economy stated that financial planning includes money
management, insurance planning, investment planning, retirement
planning and estate planning. They make a survey from 400
Malaysians by using structured questionarriee. They use three
parameters for measures of the financial planning. First is Attitude
towards personal financial planning, second is factors influencing
and third is frequency of managing various aspects of personal
financial planning. From this research they came on the conclusion
that employed and self-employed respondents are to be more
positive and active in money management, insurance and
investment planning.
➢ Edmond J. Walters in his research paper title (2002) “
Financial planning method and computer system “stated that
Now a day’s computer system has become most integral part of
taking financial decision . Once you feed all data into computer
and computer will provide important analysis regarding investment
portfolio. He provide model for the data feeding and conclusion
driving process from the customers.
Start
Process client data from database
Generate customized client questionnaire
Receive responses from client
Update client profile
All customers’ data received
Recommendations Module

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➢ Natalie chieffe and Ganas K. Rakes (1999) in his research
paper titled “An integrated model for financial planning”
stated that financial planning is a broad subject and they had
developed a financial planning model. On the basis of time and the
expected nature of financial events this module includes.1) Money
management issues. 2) Issues of meeting unexpected financial
events through an emergency fund and insurance. 3) Investing to
reach an individual goals wether it is short term or long term. This
model is applicable for “Do it yourself”, investors, Financial
planners and students.
➢ Sherman D. Hanna, Willian Waller and Michael Finke in their
research paper titled “The concept of risk tolerance in personal
financial planning stated that Risk factor is one of the most
important aspects of financial planning. It is usually misunderstood
concept and risk factor is difficult to measure. In this study author
has describe different risk capacity of an investment portfolio.
They discuss the relationship between risk aversion and portfolio
recommendations based on an expected utility approach.

39
2.2 BACKGROUND OF THE STUDY
Introduction of financial planning
When we heard about the term finance, the first question came in our
mind is: What the term finance means and from where it comes? Term
finance came from the French word ‘FINER’ which means is to make an
end and settle a debt. The term finance can be defined as the process of
managing the money and the process of acquiring needed fund and every
amount of finance needs planning. If an individual’s want to achieve their
life goals then he/she can achieve those goals only with the help of proper
management of finances. And for making proper management of finances
financial planning become a most important part. We heard the name like
career planning, future planning etc. There is also one more planning
without these planning all above planning is useless.
“Financial planning is a process that a person goes through to find out
where they are now (Financially), determine where they want to be in
future and what they are going to do to get there.”
In simple financial planning is what a person does with their money.
Individuals have been practicing financial planning for centuries. Every
individual who received money had to make a decision about the best
way to use it. Everyone have to make the same decision every time they
receive money. Does it need should be spend now or to save it to spend it
later? Today financial planning means only investing money in the tax
savings instruments. This has brought a situation where people invest
money without really understanding the logic and the reason behind the
instrument made. Sometimes people follow their friends and relatives
while making an investment decision. Ex: - If my friends had taken a LIC
then only I am going to take LIC without making the proper
investigation. Sometimes people appoint agent and advisor but those
people are more concern about their own commission instead of our
benefit.

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PROCESS OF FINANCIAL PLANNING:-
Step-1: Determine your current financial situation
The first step of financial planning is to determine your current financial
situation with respect to income, savings, living expenses and debts.
Preparation of financial budget helps us to determine what our income is
and what are the expenses?
FORMAT OF PREPARING BUDGET
Month Particulars January February March April
Income(a)
Household
expenses (b)
EMI (c)
Transportation(d)
Misc. Expenses (e)
Total Expenses(f)
(b+c+d+e)
Surplus or Deficit
(a-f)
In the first step of determine the current financial position, an individuals
also make a self assessment check like:-
➢ Prospective retirement age
➢ Main source of income
➢ Dependents in family
➢ Expenses and monthly savings
➢ Current investment status
Step 2: Develop Financial Goals
You should periodically analyze your financial values and goals. This
involves identifying how you feel about money and why you feel that
way. The purpose of this analysis is to differentiate your needs from your
wants.

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Specific financial goals are vital to financial planning. Others can suggest
financial goals for you; however you must decide which goals to pursue.
Your financial goals can range from spending all of your current income
to developing an extensive savings and investment program for your
future financial security.
One of the most important things kept in your mind is that your financial
goal should be SMART. Here Smart Means:
S: Specific = Clearly Define what are going to do with your money.
M: Measurable= It should be measurable means exactly what amount of
money you are going to invest in your financial goals.
A: Attainable= Specify how you are going to achieve your financial
goals.
R: Realistic = your goal should not be unrealistic.
T: Time Bound= clearly define how much time is going to be taken for
the completition of the financial goals.
Step-3: Identifying Alternative courses of action
Developing alternatives is crucial for making good decisions. Although
many factors will influence the available alternatives, possible course of
action usually fall into these categories:
➢ Continue the same course of action.
➢ Expand the current situation.
➢ Change the current situation.
➢ Take a new course of action.
Step-4: Evaluate Alternatives
Now review various investment options such as stocks, mutual funds,
debt instruments such as PPF, bonds, fixed deposits etc. and identify
which instrument or a combination thereof best suits the need. The time
frame for investment must correspond with the time period for goals.

42
Step-5: Create and implement a financial action plan
In this step of the financial planning process, you develop an action plan.
This requires choosing ways to achieve your goals. As you achieve your
immediate or short term goals, the goals next in priority will come into
focus. To implement your financial action plan, you may need assistance
from others.
Step 6: Reevaluate and Revise your plan
Financial planning is a dynamic process that doesn’t end when you take a
particular action. You need to regularly assess your financial decisions.
Changing personal, social and economic factors may require more
frequent assessments. When life events affect your financial needs, this
financial planning process will provide a vehicle for adapting to those
changes. Regularly reviewing this decision making process will help you
make priority adjustments that will bring your financial goals and
activities in line with your current life situation.

43
NEED OF FINANCIAL PLANNING:-
Financial planning is needed for an individual’s to achieve the
below mention life goals:-
➢ Acquiring a new luxuries car,
➢ Acquiring a new house,
➢ Career planning,
➢ Retirement planning,
➢ Child Education ( Future),
➢ Tax Savings,
➢ Protection against uncertainties like accident,
➢ Etc.

44
Investment Avenues:-
The following are the different investment avenues where an individual
can make investments:-
➢ Life Insurance,
➢ Others Insurances Schemes like:- Motor Insurance etc,
➢ Mutual Funds,
➢ Certificate of Deposits,
➢ Public Provident Fund,
➢ Real estate Investment,
➢ Gold,
➢ SIP= Systematic Investment Plan,
➢ NSC=National Savings Certificate,
➢ Equity Market,
➢ Investment in Different banking schemes,
➢ Investment through post office,
➢ ETC

45
NEED ANALYSIS IN LIFE STAGES
The followings are the different life stages of an individual and in each
and every life stages there are certain needs and wants. So, each and
every life stages require certain financial planning.
Stage: 1 High School Stage 13-17 years
Stage: 2 Young Adult Stages 18-24 years
Stage: 3 Adult With or Without Children ages 25-34 years
Stage: 4 Working Parent or Adult Ages 35-44 years
Stage: 5 Middle Stage 45-54 years
Stage: 6 Pre- Retirement Stages 55-64 years
Stage: 7 Retired stage Above 65
Stage: 1 High School Stage 13-17 years
This is the most common life stage where an individual’s start thinking
about his/ her career. She/he starts thinking about what will be there
financial needs and from where he or she going to fulfill these need and
wants. This is the stage where an individual’s start thinking about
financial planning. They started learning about what is financial
planning? They start thinking about developing a plan for independence.
If an individual’s neglect financial planning in this stage he/ she is going
to suffer whole life.
According to ROBERT T. KIYOSAKI:
“If you want to give something to your children give them financial
knowledge. Because financial knowledge is the weapon with the help of
this a child can survive their whole life otherwise he/she faces many
difficulties, does not matter how much he/she is earnings.

46
Stage: 2 Young Adult Stage 18-24 years
This is the second life stage of individuals. In this stage an individual’s is
thinking about:-
Training For a career
Establishing a households
Determining Insurance needs
Establishing Savings
Creating a spending plan etc.
Stage: 3 Adult With or Without Children 25-34 years
The followings are the need of an individual in this stages:-
Child bearing and raising
Starting an education fund for children
Expanding Career goals
Discussing and managing additional insurance needs
Etc.
Stage:4 Working Parent or Adult Stage 35-44 years
In this stage an individual’s is thinking about to earn more income due to
their expanding needs. They are started thinking about their retirement
goals.

47
Stage:5 Midlife Stage 45-54 years
The followings are the needs of an individual in this stage:-
Started Savings money for the higher education for children.
They start making investment in developing real estate plans.
They are reviewing their retirement plans.
Etc.
Stage: 6 Pre-Retirement ages 55-64 years
In this stage an individual’s is thinking about their future security. They
are started thinking about their expenses for retirement.
Stage: 7 Retired Stage 65 and Above
This stage is the enjoyment stage of an individual. If an individual’s has p
follow the above six stages properly then he/ she will not face any
problem during retirement.

48
FACTORS WHICH AFFECT FINANCIAL PLANNING OF AN
INDIVIDUALS
➢ Life Style
Life style is one of the most important factors which are affecting
financial planning for an individual. In India There are three types
of life style first is lower level which includes poor people, daily
wage workers etc. Second is middle level which includes salaried
employees and small business man. Third is Top level which
includes big business man, celebrity, investors etc.
The first priority of lower level people to invest money in their
basic necessity, so financial planning is what they are not able to
afford. As we know that the first priority of middle level people are
already fulfilled that is Roti, Kapada and Makan. So they are
thinking about financial planning and they are investing their
savings in different investment avenues like SIP, NSC etc.
The financial planning is most suitable for the top level individuals
their basic and middle level needs are already fulfilled so they are
investing their money in different investment avenues after making
proper financial planning.
➢ Appetite for Risk
Investing your saving incomes in different investment avenues
does not provide always a positive interest and profit. Sometimes
the result will be negative and people lost their whole money. Due
to such risk factors people don’t want to make investment.
➢ Scarcity of Financial Knowledge
Most of the people have not knowledge related to financial
planning and investment avenues. This is also going to affect
financial planning

49
➢ Socio- Economic Factors
Socio-economic factors include economic cycle of a country,
political and global issues. If a country is doing good then it
provide good return on their investments and vice –versa.
➢ Interest
It is one of the most important factors which are affecting financial
planning for an individual. People are only ready to invest their
savings finance in the investment avenues if an avenue is providing
more interest otherwise not.
➢ Attitude of an individuals
Attitude of an individual is one of the most important factors which
are going to affect financial planning for an individual.
The attitude of an individual can be described as follows:
I cannot afford to save enough.
I am overwhelmed with debt.
I don’t have the time or knowledge to manage my investments.
➢ Number of dependents
If an individual’s is the only earning member of their family then
he/ she cannot afford to take risk with their incomes.
But If an individuals have a support of their father income and
brother income then he is ready to take risk with their income.

50
IMPACT OF COVID-19 PANDEMIC ON FINANCIAL
PLANNING OF AN INDIVIDUAL
Before going to describe the effect of covid-19 pandemic on
financial planning for an individual’s let’s understand what is
covid-19 pandemic.
Covid-19 Pandemic:
A Corona virus is a new type of common virus that causes an
infection in your noise, sinuses or upper throat. It is caused by a
corona virus named SARS COVID-2. In early 2020, after a
December 2019 it’s outbreak in china, the WHO is identified this
as a new type of corona virus. The outbreak quickly spread around
the world.
Effect of Covid-19
Covid-19 has affected the whole economy of the world. More than
6 million are people are getting affected from this virus and more
than 3 lakhs people lost their lives. It does not affect only the lives
of a person but it affected the whole economy as well.
The following are the affected sector:-
Education Sector
Manufacturing and production sector
Agricultural sector
Banking and Insurance sector etc.
In short each and every sectors are being affected by covid-19.

51
IMPACT OF COVID-19 ON FINANCIAL PLANNING
As we know that each and every sector is affected by the covid-19 crises,
then how financial planning remains unaffected. Financial planning of an
individual is also affected by covid-19 pandemic.
During the crises people don’t want to invest their money, they want to
keep the money safe so that he/she can utilize this money when the
situations get worse.
During the covid-19 survival is the first priority of an individual,
investment is the second priority.
Before covid-19 people invest their extra amount in the financial planning
instrument but during and after covid-19 the first priority of people to
keep their money safe. They think that one situation gets handle they are
going to invest in the financial planning instrument and other luxuries
things.
Ex: Before Covid-19 crises I want to purchase a scooty from my savings
but within a few days, I heard news about the crises and I think that this is
not the perfect time for purchasing the scooty. And I decided to keep this
money safe for the future survival purpose.

52
2.3 PROBLEM STATEMENT OF STUDY
This study is designed to help Welspun India limited. As there is
lot of misconceptions among an employee’s regarding financial
planning. Welspun India limited usually conducts the seminars
for their employees to keep aware about financial planning.
Through this study, they will know their employees view
towards financial planning and misconceptions about financial
planning. So, this study will help them conduct seminars on
their employees view and solve their misconceptions.
2.4 OBJECTIVE
➢ To know the perception of an employee’s towards financial
planning.
➢ To identify the significance difference between the perceptions of
an employee towards financial planning based on some
demographic characters.
SCOPE OF THE STUDY
The Study was conducted in Welspun India Limited to analyze and
understood about the overall perception of an employee towards financial
planning and it was based on the survey method. The main aim of study
was to find out the significance difference between the perceptions of an
employee’s towards financial planning based on some demographical
factors.

53
2.5 HYPOTHESIS
➢ H0: There is no difference of opinion of male and female regarding
financial planning complexity.
H1: There is difference of opinion of male and female regarding
➢ Ho: There is no difference of opinion of male and female regarding
benefits received from financial planning.
financial planning is the best practices adopted by an individuals.
financial planning helpful during covid-19.
satisfaction level from financial planning.

54
➢ H0: There is no difference of opinion of different age people
regarding financial planning complexity.
H1: There is difference of opinion of different age people
➢ Ho: There is no difference of opinion of different age people
regarding benefits received from financial planning.
regarding financial planning is the best practices adopted by an
individuals.
individuals.
regarding financial planning helpful during covid-19.
regarding satisfaction level from financial planning.

55
➢ H0: There is no difference of opinion of different qualified people
H1: There is difference of opinion of different qualified people
➢ Ho: There is no difference of opinion of different qualified people
individuals.
individuals.

56
➢ H0: There is no difference of opinion of different income group
people regarding financial planning complexity.
H1: There is difference of opinion of different income group
➢ Ho: There is no difference of opinion of different income group
people regarding benefits received from financial planning.
people regarding financial planning is the best practices adopted by
an individuals.
an individuals.
people regarding financial planning helpful during covid-19.
people regarding satisfaction level from financial planning.

57
CHAPTER-3
RESEARCH METHODOLOGY

58
Research type ➢ Descriptive research
➢ Quantitative research
Source of data Primary data as well as secondary data
Survey method Questionnaire
Types of questions Closed ended questions (likert scale)
Target population Employees of Welspun India limited
Sample size 75
Sampling method Convenience sampling
Sample Design Data has been presented with the help of
bar graph.
3.4 Limitations of study
➢ The time was limited for the completion of research.
➢ The Survey was restricted to the employees of Welspun
India limited.
➢ The numbers of respondents were also limited i. e. 75
only.
➢ The survey is subjected to the bias and prejudice of the
respondents. Hence, 100% accuracy cannot be assured.
➢ The lack of knowledge of an employee about the financial
planning can be the major limitation.

59
CHAPTER-4
DATA ANALYSIS AND INTERPRETATION

60
A) Gender
Frequency Percentage
Valid Male
Female
Total
56
19
75
75%
25%
Interpretation:-
From the above table and chart, it can be said that male respondents is 56
and female respondents is 19. Here male respondents are 37 more than
female respondents.
B) Age
Valid 20-29 years
30-39 years
40-49 years
50 years above
Total
20
26
19
10
75
26.67%
34.67%
25.34%
13.33%
0
10
20
30
40
50
60
Male Female
count
Gender

61
Interpretation:-
From the above table and chart it can be said that major respondents
belongs to 30-39 years i.e. 26 , 20 belongs to 20-29 years , 19 belongs to
40-49 years and 10 belongs to 50 years above.
C) Qualification
Valid Under Graduate
Graduate
Post Graduate
Professional courses
Total
5
42
20
8
75
0.67%
56%
26.67%
10.67%
0
5
10
15
20
25
30
20-29 years 30-39 years 40-49 years 50 years above
count
Age
0
5
10
15
20
25
30
35
40
45
Under Gratuate Gratuate Post Gratuate Professional courses
Count
Qualification

62
Interpretation:-
belong to graduate that is 42, 20 belong to post graduate, 8 belong to
professional courses and 5 belong to under graduate.
D) Income
Valid 3-4 lacs
4-5 lacs
5-6 lacs
Above 6 lacs
Total
29
13
16
17
75
38.67
17.34
21.33
22.67
Interpretation:-
From the above table and chart it can be said that the major respondents
belong to 3 -4 lacs that is 29, 16 belongs to 5-6 lacs, 17 belongs to above
6 lacs and 13 belongs to 4- 5 lacs.
0
5
10
15
20
25
30
35
3-4 lacs 4-5 lacs 5-6 lacs Above 6 lacs
Count
Income

63
1) Financial planning is complex to understand
Agree
Highly Agree
Neutral
Disagree
Highly Disagree
Total
13
3
33
24
2
75
17.34
4
44
32
2.64
Interpretation:-
From the above table and chart it can said that 33 people believe that
financial planning is neutral to understand, 24 people disagree about
financial planning complicity, 13 people agree and 3 people highly agree
about financial planning complicity and 2 people are highly disagree
about financial planning complicity.
0
5
10
15
20
25
30
35
Agree Highly Agree neutral Disagree Highly
Disagree
Count

64
Q2) Beneficiary of financial planning
Agree
Highly Agree
Neutral
Disagree
Highly Disagree
Total
51
10
14
0
0
75
68%
13.33%
18.65%
Interpretation:-
From the above table and chart it can be said that 51 people are getting
benefited from doing financial planning, 14 people are neutral, 10 people
are highly agree. O people are disagree it means that no one is facing
problem by doing financial planning.
0
10
20
30
40
50
60
Agree Highly Agree Neutral
Count

65
Q3) Habit of adopting Financial Planning
Agree
Highly Agree
Neutral
Disagree
Highly Disagree
55
15
5
0
0
73.34%
20%
6.67%
Total 75
Interpretation:-
From the above table and chart it can be said that 55 believe that financial
planning is the practices which is adopted by people, 15 people are highly
agree and 5 people are neutral about habit of financial planning. No one
said that habit of financial planning is bad.
0
10
20
30
40
50
60
Count

66
Q 4) Financial planning has reduced burden of an individuals.
a) In case of contingency
Agree
Highly Agree
Disagree
45
9
21
60%
12%
28%
Total 75
Interpretation:-
believe that financial planning is helpful during contingency,9
respondents are highly agree and 21 respondents are disagree it means
they said that financial planning is not useful during contingency.
0
5
10
15
20
25
30
35
40
45
50
Agree Highly Agree Disagree
Frequency

67
b) In case of Tax Savings
Agree
Highly Agree
Neutral
50
23
2
66.67%
30.67%
2.67%
Total 75
Interpretation:-
From the above table and chart it can be said that major respondents are
agreed that financial planning has reduced burden of an individuals in
case of tax savings i. e. 50, 23 respondents are highly agree and 2
respondents are neutral about tax savings burden. But no respondents are
disagree about it means everyone believes that financial planning some or
somewhat has reduced the burden of an individuals.
0
10
20
30
40
50
60
Agree highly Agree Neutral
Frequency

68
c) In case of child future
Agree
Highly Agree
37
38
49.33%
50.67%
total 75
Interpretation:-
From the above table and chart it can be said that 38 respondents are
highly agree and 37 respondents are agree that financial planning has
reduced burden of an individuals in case of child future. The fact is that
no one is disagree and even neutral.
36.4
36.6
36.8
37
37.2
37.4
37.6
37.8
38
38.2
Agree Highly Agree
Frequency

69
d) Acquiring new car and house
Agree
Highly Agree
Neutral
Disagree
35
11
28
1
46.67%
14.67%
37.33%
1.33%
Total 75
Interpretation:-
agree that financial planning is useful in acquiring a car and house i. e.
35, 11 respondents are highly agree, 28 respondents are neutral and 1
respondents are disagree.
0
5
10
15
20
25
30
35
40
Agree highly Agree Neutral Disagree
Frequency

70
e) In case of career planning
Agree
Highly Agree
Neutral
Disagree
34
37
3
1
45.33%
49.33%
4%
1.33%
Total 75
Interpretation:-
agreed that in case of career planning , financial planning has reduced the
burden of an individuals. 3 respondents are neutral and 1 respondent are
disagree.
0
5
10
15
20
25
30
35
40
Agree Highly Agree Neutral Disagree
frequency

71
f) At the time of retirement.
Agree
Highly agree
Neutral
30
43
2
40%
57.335
2.67%
Total 75
Interpretation:-
highly agreed that financial planning has reduced the burden of an
individual’s at the time of retirements, 30 respondents are agree and 2
respondents are neutral. No one is disagreed.
0
5
10
15
20
25
30
35
40
45
50
Frequency

72
Q5) Amount of Income You are savings
Less Than 10%
From 10%- 30%
From 30%- 50%
Above 50%
32
38
4
1
42.67%
50.67%
5.33%
1.33%
Total 75
Interpretation:-
From the above table and chart it can be said that major respondents save
their money between 10 to 30 percent that is 38, 32 people save less than
10%, 4 people save between 30-50 percent and 1 people save above 1
percent.
0
5
10
15
20
25
30
35
40
less than 10% From10%-30% From 30%-50% Above 50%
Count

73
Q6) Financial planning is helpful during Covid-19
frequency Percentage
Agree
Highly Agree
Disagree
Neutral
Highly Disagree
44
9
1
21
58.67%
12%
1.33%
28%
Total 75
Interpretation:-
agreed that financial planning is helpful during covid-19, 21 respondents
are neutral,9 respondent are highly agree and 1 respondent is disagree.
0
5
10
15
20
25
30
35
40
45
50
Agree Highly Agree Disagree Neutral
Count

74
Q 7) Factors consider by the people during Financial planning
Yes
No
Neutral
51
4
20
68%
5.33%
26.67%
Total 75
Interpretation:-
From the above table and chart it can be said that major responds
consider the factors which are going to affect the financial planning i.e.
51,20 respondents are neutral about financial planning factors and 4
people did not consider the factors which is going to affect the financial
planning.
0
10
20
30
40
50
60
Yes No Neutral
Count

75
Q8) Factors which is consider most during investing in any investing
avenues.
Safety of Principal
Low Risk
Higher Return
Maturity Period
30
22
20
3
40%
29.33%
26.67%
4%
Total 75
Interpretation:-
consider safety of principal before choosing any investment avenues
i.e.30, 22 respondents consider low risk, 20 respondents consider higher
return and 3 respondents consider maturity period.
0
5
10
15
20
25
30
35
Safety of principal Low Risk higher Return Maturity Period
frequency

76
Q 9) Age when an individual’s started their financial planning
15-20 years
20-25 years
25-30 years
30-35 years
8
40
12
15
10.67%
53.33%
16%
20%
total 75
Interpretation:-
From the above table and chart it can be said that major respondents start
their financial planning at the age between 20-25 years i.e. 40, 8
respondents start their planning between 15-20 years, 12 respondents start
their planning between 25-30 years and 15 people start their financial
planning between 30-35 years.
0
5
10
15
20
25
30
35
40
45
15-20 years 20-25 years 25-30 years 30-35 years
Frerquency

77
Q 10) Company Provide Financial Knowledge.
Yes
No
Neutral
11
36
28
14.67%
48%
37.33%
Total 75
Interpretation:-
From the above table and chart major respondents said that their company
is not providing any training on financial planning i. e. 36, 28 respondents
said that sometimes company is providing financial knowledge and 11
respondents said that their company is providing financial knowledge.
0
5
10
15
20
25
30
35
40
yes No Neutral
Frequency

78
Q 11) Satisfaction Level from Financial Planning
Satisfied
Highly Satisfied
Neutral
Unsatisfied
Highly Unsatisfied
48
9
18
-
-
64%
12%
24%
Total 75
Interpretation:-
satisfied by doing financial planning i.e. 48, 18 respondents are neutral
about satisfaction level of financial planning and 9 respondents are are
highly satisfied. But the fact is that no one is dissatisfied from doing
financial planning.
0
10
20
30
40
50
60
Satisfied Highly Satisfied Neutral
frequency

79
Q 12) Purpose of doing financial planning
Protection
Savings
Child Future
Investments
46
58
38
32
61.33%
77.33%
50.67%
42.67%
Interpretation:-
doing financial planning for the purpose of savings i. e. 58 out of 75
respondents, 46 respondents are doing for the purpose of protection out of
75 respondents, 38 respondents are doing financial planning for the
purpose of child future out of 75 respondents and 32 respondents are
doing financial planning for the purpose of investments out of 75
respondents.
0
10
20
30
40
50
60
70
Protection Savings Child Future Investments
Frequency

80
Q 13) Investment Avenues
Life Insurance
Fixed deposit
Mutual Funds
Equity market
Gold
PPF
Post office deposit
66
57
15
10
19
47
23
88%
76%
20%
13.33%
25.33%
62.67%
30.67%
Interpretation:-
From the above table and chart it can be said that 66 respondents are
invested their money in life insurance out of 75, 57 respondents are
invested their money in fixed deposit out of 75 respondents, 15
respondents are invested their money in mutual funds out of 75
respondents, 10 respondents are invested their money in equity market
out of 75 respondents, 19 respondents are invested their money in gold
out of 75 respondents, 47 respondents are invested their money in PPF
out of 75 respondents and 23 respondents are invested their money in
Post office deposit out of 75 respondents.
0
10
20
30
40
50
60
70
Frequency

81
Q 14) How you are doing your financial planning
frequency percentage
By Himself and herself
With the help of advisors or agents
58
17
77.33%
22.67%
Total 75
Interpretation:-
From the above table and charts it can be said that major respondents are
doing financial planning by himself and herself and 17 respondents take
help of agents and advisors.
0
10
20
30
40
50
60
70
By himself and herself With the help of Agents
frequency

82
Q 15) Satisfaction level in terms of returns on investments
Frequency percentage
Yes
No
Neutral
43
1
31
57.33%
1.33%
41.33%
total 75
Interpretation:-
satisfied in terms of respondents i.e. 43, 31 respondents are neutral about
satisfaction level and 1 respondents are not satisfied with the return.
0
5
10
15
20
25
30
35
40
45
50
Yes No neutral
frequency

83
Observed Frequency:
Expected Frequency:
Row Labels Agree
Highly
Agree neutral Disagree
Highly
Disagree
Grand
Total
Male 9.706666667 2.24 24.64 17.92 1.493333333 56
Female 3.293333333 0.76 8.36 6.08 0.506666667 19
Grand Total 13 3 33 24 2 75
P-value= 0.376
Interpretation:-From the above table we can say that p value is more than
0.05, so we fail to reject Ho. So, there is no difference of opinion of male
and female regarding financial planning complexity.
Agree
Highly
Highly
Disagree
Grand
Total
Male 7 2 25 20 2 56
Female 6 1 8 4 19
Grand Total 13 3 33 24 2 75

84
➢ Ho: There is no difference of opinion of male and female regarding
Observed Frequency:-
Row Labels Agree
Highly
Agree Neutral
Grand
Total
Male 37 9 10 56
Female 14 1 4 19
Grand Total 51 10 14 75
Expected Frequency:-
Row Labels Agree Highly Agree Neutral
Grand
Total
Male 38.08 7.466666667 10.4533 56
Female 12.92 2.533333333 3.54667 19
P value=0.486
Interpretation:-From the above table we can say that p value is more than
0.05, so we fail to reject Ho. So, there is no difference of opinion of male
and female regarding benefits received from financial planning.

85
Row Labels Agree
Highly
Agree Neutral
Grand
Total
Male 38 14 4 56
Female 17 1 1 19
Expected Frequency
Row Labels Agree
Highly
Agree Neutral
Grand
Total
Male 41.06666667 11.2 3.73333 56
Female 13.93333333 3.8 1.26667 19
P-value=0.154
Interpretation:-From the above table we can say that p value is more
than 0.05, so we fail to reject Ho. So, there is no difference of opinion of
male and female regarding financial planning is the best practices adopted
by an individuals.

86
Row Labels Agree
Highly
Agree Disagree Neutral
Grand
Total
Male 34 7 1 14 56
Female 10 2 7 19
Grand Total 44 9 1 21 75
Row Labels Agree
Highly
Grand
Total
Male 32.85333333 6.72 0.746667 15.68 56
Female 11.14666667 2.28 0.253333 5.32 19
P-value=0.801
male and female regarding financial planning helpful during covid-19.

87
Row Labels Satisfied
Highly
Satisfied Neutral
Grand
Total
Male 36 7 13 56
Female 12 2 5 19
Highly
Satisfied Neutral
Grand
Total
Male 35.84 6.72 13.44 56
Female 12.16 2.28 4.56 19
P- Value= 0.948
male and female regarding satisfaction level from financial planning.

88
Observed frequency:-
P- Value= 0.519
Interpretation:-From the above table we can say that p value is
more than 0.05, so we fail to reject Ho. So there is no difference of
opinion of different age people regarding financial planning
complexity.
Row Labels Agree
Highly
Highly
Disagree
Grand
Total
20-29 Years 6 1 8 5 20
30-39 Years 2 1 13 10 26
40-49 Years 5 7 5 2 19
50 years Above 1 5 4 10
Grand Total 13 3 33 24 2 75
Row Labels Agree
Highly
Highly
Disagree
Grand
Total
20-29 Years 3.466666667 0.8 8.8 6.4 0.533333333 20
30-39 Years 4.506666667 1.04 11.44 8.32 0.693333333 26
40-49 Years 3.293333333 0.76 8.36 6.08 0.506666667 19
50 years Above 1.733333333 0.4 4.4 3.2 0.266666667 10
Grand Total 13 3 33 24 2 75

89
➢ Ho: There is no difference of opinion of different age people
P Value=0.124
more than 0.05, so we fail to reject Ho. So, there is no difference of
opinion of different age people regarding benefits received from
financial planning.
Row Labels Agree
Highly
Agree Neutral
Grand
Total
20-29 years 12 2 6 20
30-39 years 22 3 1 26
40-49 years 13 3 3 19
50 years above 4 2 4 10
Grand
Total
20-29 years 13.6 2.666666667 3.73333 20
30-39 years 17.68 3.466666667 4.85333 26
40-49 years 12.92 2.533333333 3.54667 19
50 years above 6.8 1.333333333 1.86667 10

90
individuals.
individuals.
Row Labels Agree
Highly
Agree Neutral
Grand
Total
20-29 years 14 6 20
30-39 years 18 6 2 26
40-49 years 17 1 1 19
50 years above 6 2 2 10
Row Labels Agree
Highly
Agree Neutral
Grand
Total
20-29 years 14.66666667 4 1.33333 20
30-39 years 19.06666667 5.2 1.73333 26
40-49 years 13.93333333 3.8 1.26667 19
50 years above 7.333333333 2 0.66667 10
P value= 0.324
opinion of different age people regarding financial planning is the
best practices adopted by an individuals.

91
P Value=0.649
opinion of different age people regarding financial planning
helpful during covid-19.
Row Labels Agree
Highly
Grand
Total
20-29 years 14 2 4 20
30-39 Years 14 5 1 6 26
40-49 Years 12 1 6 19
50 years Above 4 1 5 10
Row Labels Agree
Highly
Grand
Total
20-29 years 11.73333333 2.4 0.266667 5.6 20
30-39 Years 15.25333333 3.12 0.346667 7.28 26
40-49 Years 11.14666667 2.28 0.253333 5.32 19
50 years Above 5.866666667 1.2 0.133333 2.8 10

92
P Value=0.024
less than 0.05, so we can reject Ho. So there is difference of
opinion of different age people regarding satisfaction level from
financial planning.
Highly
Satisfied Neutral
Grand
Total
20-29 years 12 2 6 20
30-39 Years 16 5 5 26
40-49 years 17 1 1 19
Above 50 Years 3 1 6 10
Highly
Satisfied Neutral
Grand
Total
20-29 years 12.8 2.4 4.8 20
30-39 Years 16.64 3.12 6.24 26
40-49 years 12.16 2.28 4.56 19
Above 50 Years 6.4 1.2 2.4 10

93
P Value= 0.00025
less than 0.05, so we can reject Ho. So there is difference of
opinion of different qualified people regarding financial planning
complexity.
Row Labels Agree
Highly
Highly
Disagree
Grand
Total
Under Graduate 3 1 1 5
Graduate 8 1 25 8 42
Post Graduate 2 1 7 10 20
Professional Courses 6 2 8
Grand Total 13 3 33 24 2 75
Row Labels Agree
Highly
Highly
Disagree
Grand
Total
Under Graduate 0.866666667 0.2 2.2 1.6 0.133333333 5
Graduate 7.28 1.68 18.48 13.44 1.12 42
Post Graduate 3.466666667 0.8 8.8 6.4 0.533333333 20
Professional Courses 1.386666667 0.32 3.52 2.56 0.213333333 8
Grand Total 13 3 33 24 2 75

94
➢ Ho: There is no difference of opinion of different qualified people
P Value= 0.009
less than 0.05, so we can reject Ho. So, there is difference of
opinion of different qualified people regarding benefits received
from financial planning.
Row Labels Agree
Highly
Agree Neutral
Grand
Total
Under Graduate 1 4 5
Graduate 30 4 8 42
Post Graduate 15 3 2 20
professional Courses 5 3 8
Grand
Total
Under Graduate 3.4 0.666666667 0.93333 5
Graduate 28.56 5.6 7.84 42
Post Graduate 13.6 2.666666667 3.73333 20
Professional Courses 5.44 1.066666667 1.49333 8

95
individuals.
individuals.
Row Labels Agree
Highly
Agree Neutral
Grand
Total
Under Graduate 3.666666667 1 0.33333 5
Graduate 30.8 8.4 2.8 42
Post Graduate 14.66666667 4 1.33333 20
P Value=0.445
opinion of different qualified people regarding financial planning is
the best practices adopted by an individuals.
Row Labels Agree
Highly
Agree Neutral
Grand
Total
Under Graduate 2 2 1 5
Graduate 32 6 4 42
Post Graduate 14 6 20

96
P Value= 0.942
opinion of different qualified people regarding financial planning
helpful during covid-19.
Row Labels Agree
Highly
Grand
Total
Graduate 24 7 1 10 42
Row Labels Agree
Highly
Grand
Total
Under Graduate 2.933333333 0.6 0.066667 1.4 5
Graduate 24.64 5.04 0.56 11.76 42
Post Graduate 11.73333333 2.4 0.266667 5.6 20
Professional Courses 4.693333333 0.96 0.106667 2.24 8

97
P Value= 0.008
opinion of different qualified people regarding satisfaction level
Highly
Satisfied Neutral
Grand
Total
Graduate 30 2 10 42
Professional Courses 6 1 1 8
Highly
Satisfied Neutral
Grand
Total
Under Graduate 3.2 0.6 1.2 5
Graduate 26.88 5.04 10.08 42
Post Graduate 12.8 2.4 4.8 20

98
Observed Frequency;-
P Value= 0.09
more than 0.05, so we fail to reject Ho. So, there is no difference of
opinion of different income group people regarding financial
planning complexity.
Row Labels Agree
Highly
Highly
Disagree
Grand
Total
3 lacs- 4 lacs 9 2 13 5 29
4 lacs- 5 lacs 1 1 7 4 13
5 lacs- 6 lacs 10 6 16
Above 6 lacs 3 3 9 2 17
Grand Total 13 3 33 24 2 75
Row Labels Agree
Highly
Highly
Disagree
Grand
Total
3 lacs- 4 lacs 5.026666667 1.16 12.76 9.28 0.773333333 29
4 lacs- 5 lacs 2.253333333 0.52 5.72 4.16 0.346666667 13
5 lacs- 6 lacs 2.773333333 0.64 7.04 5.12 0.426666667 16
Above 6 lacs 2.946666667 0.68 7.48 5.44 0.453333333 17
Grand Total 13 3 33 24 2 75

99
➢ Ho: There is no difference of opinion of different income group
Grand
Total
3 lacs- 4 lacs 19.72 3.866666667 5.41333 29
4 lacs- 5 lacs 8.84 1.733333333 2.42667 13
5 lacs- 6 lacs 10.88 2.133333333 2.98667 16
Above 6 lacs 11.56 2.266666667 3.17333 17
P Value=0.427
than 0.05, so we fail to reject Ho. So there is no difference of opinion of
different income group people regarding benefits received from financial
planning.
Row Labels Agree
Highly
Agree Neutral
Grand
Total
3 lacs- 4 lacs 17 3 9 29
4 lacs- 5 lacs 10 1 2 13
5 lacs- 6 lacs 12 3 1 16
Above 6 lacs 12 3 2 17

100
an individuals.
an individuals.
Row Labels Agree
Highly
Agree Neutral
Grand
Total
3 lacs- 4 lacs 21 8 29
4 lacs- 5 lacs 7 3 3 13
5 lacs- 6 lacs 14 1 1 16
Row Labels Agree
Highly
Agree Neutral
Grand
Total
3 lacs- 4 lacs 21.26666667 5.8 1.93333 29
4 lacs- 5 lacs 9.533333333 2.6 0.86667 13
5 lacs- 6 lacs 11.73333333 3.2 1.06667 16
Above 6 lacs 12.46666667 3.4 1.13333 17
P value= 0.181
different income group people regarding financial planning is the best
practices adopted by an individuals.

101
Row Labels Agree
Highly
Grand
Total
3 lacs- 4 lacs 22 2 5 29
4- lacs-5 lacs 5 5 1 2 13
5 lacs- 6 lacs 7 1 8 16
Row Labels Agree
Highly
Grand
Total
3 lacs- 4 lacs 17.01333333 3.48 0.386667 8.12 29
4- lacs-5 lacs 7.626666667 1.56 0.173333 3.64 13
5 lacs- 6 lacs 9.386666667 1.92 0.213333 19.7647 16
Above 6 lacs 9.973333333 2.04 0.226667 4.76 17
P Value= 0.002
opinion of different income group people regarding financial
planning helpful during covid-19.

102
Observed frequency:-
Highly
Satisfied Neutral
Grand
Total
3 lacs- 4 lacs 15 3 11 29
4 lacs- 5 lacs 12 1 13
5lacs- 6 lacs 10 3 3 16
Expected frequency:-
Highly
Satisfied Neutral
Grand
Total
3 lacs- 4 lacs 18.56 3.48 6.96 29
4 lacs- 5 lacs 8.32 1.56 3.12 13
5lacs- 6 lacs 10.24 1.92 3.84 16
Above 6 lacs 10.88 2.04 4.08 17
P Value=0.261
➢ Interpretation:-From the above table we can say that p value is
more than 0.05, so we fail to reject Ho. So There is no difference of
opinion of different income group people regarding satisfaction
level from financial planning.

104
• It is understood from the survey that males were more than the
females.
• It is found out that most respondents were from 30-39 years
slab.
• It is found out from the survey that most of the respondents
were graduates.
• It is found out that most of the respondents were belongs to 3-4
lacs slab.
• About 44% respondents are neutral about financial planning
complexities. They said that sometimes it is easy but sometimes
it is difficult.
• About 68% respondents are agreed that they are getting
benefitted from doing financial planning.
• About 73.34% respondents agreed that financial planning is the
best practices which are adopted by an individual.
• About 60% respondents agreed that financial planning has
reduced the burden of an employee in case of contingency.
• About 66.67% respondents agreed that financial planning has
reduced the burden of an employee in case of tax savings.
• About 100% respondents are agreed and highly agreed that
financial planning has reduced the burden of an employees in
case of child future.
• About 46.67% respondents are agreed that financial planning has
reduced the burden of an employee in case of acquiring new car
and house.
• About 94.66% respondents agreed and highly agreed that
financial planning has reduced burden of an employees in case of
career planning.
• About 50% people save their money from 10%-30%.
• About 58.67% respondents agreed that financial planning is
helpful during covid-19 pandemic.
• About 68% respondents consider the factors which are going to
affect the financial planning.
• About 53.33% respondents started their financial planning at the
age 20-25 years.
• About 48% respondents said that company is not providing any
knowledge related to financial planning.
• About 64% respondents are satisfied by doing financial planning.

105
• About 77.33% respondents are doing their financial planning by
him and her.
• About 57.33% respondents are satisfied in terms of returns
received from the investments.
• Through test it is found out that in most cases, there Is no
relationship between demographic factors and Financial
planning of an individual’s except in 5 hypothesis:
• There is difference of opinion of different age people
• There is difference of opinion of different qualified people
• There is difference of opinion of different income group

107
• Welspun India Limited should find out the reason that why there is
differences of opinion of different age people related to satisfaction
level from financial planning.
• Welspun India limited should also organize the training program
on financial planning so that the employees of the organization are
well aware about financial planning and different investments
avenues.
differences of opinion of different qualified people regarding
• Welspun India limited also find out that why there is difference of
opinion of different qualified people regarding satisfaction level
differences of opinion of different qualified people regarding
• The company should also find out the reason behind differences of
opinion between different income group people regarding Financial
planning helpful during covid-19

109
This Study proves that still most of the people are not sure about financial
planning is complex or not. They still don’t have proper knowledge about
financial planning, different financial instruments and factors which is
going to affect financial planning. This study also proves that most of the
people are not sure about the financial planning is done by him /her is
useful during covid-19 or not. In most of the cases there is no difference
of opinion of people on basis of demographic factors i. e. gender, age,
qualification and income. The differences of opinion is only there related
to satisfaction level, benefits received, complexity and financial planning
is useful during covid-19 or not respectively with age, qualification and
income.

111
https://en.m.wikipedia.org
https://www.Zaubacorp.com
https://m.Indiamart.com
https://in.mobile.reuters.com
www.welspun.com
www.researchgate.net
https://scholar.google.com
Welspun India annual report 2015
Welspun India annual report 2019

113
QUESTIONARRIEE
“Study on Employees Perception towards Financial Planning”
Name:-
Position:-
1) Demographic Details:-
A) Gender: Male Female
B) Age: 20-29 years
30-39 years
40-49 years
50 years above
C) Qualification: - Under Graduate
Graduate
Post Graduate
Professional courses
D) Income: - 3 lacs – 4 lacs
4 lacs-5 lacs
5 lacs – 6 lacs
Above 6 lacs
1) In Your opinion, is financial planning is complex to understand?
a) Agree
b) Highly Agree
c) Neutral
d) Disagree
e) Highly Disagree

114
2) Are you benefitted from doing financial planning?
a) Agree
b) Highly Agree
c) Neutral
d) Disagree
e) Highly Disagree
3) Do you think that financial planning is the best practices adopted by an
individual’s?
a) Agree
b) Highly Agree
c) Neutral
d) Highly Disagree
e) Disagree
4) Do you feel financial planning has reduced burden of an individuals in the
following cases?
Questions Agree Highly
Agree
Neutral Disagree Highly
Disagree
a) in case of
contingency
b)Tax savings
c)child Future
d)Acquiring new car
and house
e)career planning
f)At the time of
retirement
5) What percentage of your monthly salary income do you save?
a) Less than 10%
b) From 10%- 30%
c) From 30%-50%
d) Above 50%
6) The financial planning which is done by you in the past is helpful during
covid-19 pandemic?
a) Agree
b) Highly Agree
c) Disagree

115
d) Neutral
e) Highly Disagree
7) Are you considering the factors which are going to affect your financial
planning, like economic factors, social factors, Life Style etc?
a) Yes
b) No
c) Neutral
8) Which factor do you consider most before investing in any investment
avenues?
a) Safety of principal
b) Low risk
c) Higher return
d) Maturity Period
9) At what age you started doing your financial planning?
a) 15-20 years
b) 20-25 years
c) 25-30 years
d) 30-35 years
e) Above 35 years
10) Are your company is providing knowledge related to financial planning?
a) Yes
b) No
c) Neutral
11) Are you satisfied by doing financial planning?
a) Satisfied
b) Highly Satisfied
c) Neutral
d) Unsatisfied
e) Highly unsatisfied
12) What is your main purpose of doing financial planning? You can choose more
than one option.

116
a) Protection
b) Savings
c) Child future
d) Investments
13) Have you made investment in the following different avenues available? You
can choose more than one option.
a) Life insurance
b) Fixed Deposits
c) Mutual Funds
d) Equity market
e) Gold
f) PPF
g) Post office deposit
14) How you are doing your financial planning?
a) By himself/herself
b) With the help of advisors pr agents
15) Are you satisfied with your previous investment in terms of returns?
a) Yes
b) No
c) Neutral

Study on employees perception towards financial planning at welspun India ltd.

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Study on employees perception towards financial planning at welspun India ltd.