A Study on the cases related to On-site Accidents at "MY Solar Plant".

1. Project Tittle
A Study on the cases related to on-site accidents
at “MY solar plant” and calculation of
workman’s Compensation.
Presented by
- Nisha D. Kakde
Project Guide
- Dr. Soma Sharma
Datta Meghe Institute of Management Studies

2. INTRODUCTION
Industrial Revolution gave birth to the factory system. Substantial replacement of man-
power by machine -power took place. Being surrounded by dangerous machineries .Workers were
exposed to industrial accidents and resultant injuries. With the advance of industrialization,
industrial accidents and injuries are on the increase.
Employees need to be compensated for their efforts based on volume of predication.
Compensation refers to all forms of financial rewards received by employees. It arises from their
employment. It occupies an important place in the life of the employee. It is considerable cost
to the employer compensation dissasfiaction can lead to absenteeism, turnover, job
dissatisfaction, low performance, strikes and grievances. Majority of labor managements
disputes relate to compensation. Compensation refers to the extrinsic that employees receive in
exchange for their work. It is compared of the base wage or salary and incentives or bonuses and
benefits. Compensation is a key factor in attracting and keeping the best employees and
ensuring that the organization has the competitive edge in an increasingly competitive world .
The compensation management component enables to differentiate between the remuneration
strategies and those of competitors while still allowing flexibility, control and cost effectiveness.

3. “MY SOLAR PLANT”
COMPANY PROFILE
“MY SOLAR PLANT” introducing innovative technology in the field of solar energy from
2014. The company is directed by its team of experienced professionals, specialized in the areas
of Renewable Energies. MY SOLAR PLANT's team of dedicated professionals committed to
customers and dealers satisfaction in the field of Solar Energy all over the India. We are
specialized in domestic as well as industrial energy audits to meet the customer's expectation as
per their need.
MY SOLAR PLANT is one of the biggest emerging manufacturers of solar equipment in India.
Our products include Solar Home light Systems, Solar Lanterns, Solar Street Lights, Solar Battery
Chargers, Solar Hoarding Light, Solar Power Pack and Solar Water Heating System (ETC) with the
several ranges. MY SOLAR PLANT also accepts the industrial as well as domestic projects as per
their requirement and executes it within time with non-compromising quality.

4. OBJECTIVES
 To study Various On-Site accidents occurred at Company.
 To study the compensation benefits given to the accident Victims or there families.
 To find out and suggest various preventive measures to minimize accident and lower
the cost of compensation.

5. RESEARCH METHODOLOGY
 Research methodology is a way to systematically show the research problem.
Selection of Area:-
The Survey is conducted in Butibori (On-site).
Selection of Sample:-
The primary data are collected through survey method. The survey are conducted using
well formulated Questionnaire. Simple Random Sampling is applied for collecting the
data. The Questionnaires we circulated among the employees .
Among all the sites, Totally 60 Questionnaires were distributed and 52 were collected, out of which 50
completed questionnaires were found productive.

6. Collection of data:-
To gain the information of present project, the data will be collected in the following
manner.
Primary data:-
Primary data will consist of general survey, which will be done with the help of
questionnaire. The questionnaire used hospital both optional type and Statements in
Liker’s 5 point scale.
Secondary data:-
Secondary data will consist of Information which will be collected through Books
and Internet.

7. FINDINGS
 Site Inspection for finding the various cases of On- Site accidents.
 Employee satisfaction for given compensation benefit's (PF,ESIC) and insurance facility.
 List of the problem faced by the victim’s family for insurance claiming.
 Various alternative benefits or safety precautions for risky work . (Bonus ,Mediclaim )
 Unskilled worker’s no idea about the insurance because maximum work done by daily
wages workers.

8. CONCLUSION
 The company faces a large amount of competition. The compensation Committee
reviews the overall compensation structure and policies of the bank with a view to
attract, retain and motivate employees, consider grant of stock options to employees,
reviewing compensation levels of the bank’s employees.
 The project was very satisfying experience for me, not only practically and
academically. It also helped me in enriched my knowledge also.
 The management grooms every individual to realize his potential in all facets while
contributing to attain higher organization and personal goals.
 The management builds team and foster team work as the primary instrument in all
activities.

9. Recommendation
 MY SOLAR PLANT Should increase other benefits according to their promotion and
efforts. Moreover, company should try to increase compensation and benefits according
to market standard analysis. One thing I like to mention that MY SOLAR PLANT does not
provide any life insurance Management which I have come to know while working
there.
 The absence of life insurance may discourage the employees to settle there. I think it
would be better and satisfactory for the employee if they get other incentives and
benefits along with the salary when they are promoted.

10. Thank you