Sualiha Anwar - 20267

Topic#1 JD functional:

The functional aspects of job details in Human Resource Management (HRM),

we focus on the specific responsibilities, tasks, and qualifications required for
HR roles. Here's a breakdown of the functional aspects typically included in
HRM job details:

*Recruitment and Selection*:

Developing job descriptions and specifications.
Posting job advertisements and managing recruitment channels.
Screening resumes, conducting interviews, and selecting candidates.
Coordinating onboarding processes for new hires.

*Employee Relations*:
Handling employee grievances and conflict resolution.
Conducting investigations into workplace issues or complaints.
Advising managers and employees on company policies and procedures.
Mediating disputes between employees or between employees and management.

*Training and Development*:

Identifying training needs and designing training programs.
Organizing and facilitating training sessions or workshops.
Tracking employee training progress and evaluating training effectiveness.
Developing career development plans and succession planning strategies.

*Performance Management*:
Developing performance appraisal systems and processes.
Conducting performance reviews and providing feedback to employees.
Setting performance goals and objectives in alignment with organizational
objectives.
Implementing performance improvement plans as needed.

*Compensation and Benefits*:

Administering employee compensation and benefits programs.
Conducting salary surveys and analyzing compensation trends.
Managing employee payroll processing and ensuring accuracy.
Communicating benefit plans and assisting employees with benefit-related
inquiries.

*HR Policies and Compliance*:

Developing, implementing, and enforcing HR policies and procedures.
Ensuring compliance with employment laws and regulations.
Keeping abreast of changes in labor laws and updating policies accordingly.
Conducting audits to ensure HR practices align with legal requirements.

*Employee Engagement and Retention*:

Implementing strategies to foster employee engagement and morale.
Conducting employee satisfaction surveys and analyzing feedback.
Developing retention initiatives such as recognition programs or career
development opportunities.
Monitoring turnover rates and implementing strategies to reduce turnover.

*HR Administration and Record-Keeping*:

Maintaining accurate employee records and databases.
Processing HR-related paperwork, such as employment contracts and termination
documents.
Managing HR documentation, including employee handbooks and policy manuals.
Ensuring compliance with data privacy and confidentiality regulations.

By including these functional aspects in job details for HRM roles,

organizations can effectively communicate the scope of responsibilities
and qualifications required for the position.
Ammara Abubaker - 20325

Topic # 2 : JS Behavioral :

In HRM, job satisfaction behavior refers to the observable actions, attitudes, and
reactions exhibited by employees in response to their level of satisfaction with
their job roles, work environment, and overall experiences within the
organization. These behaviors can manifest in various ways:

*Engagement:* Engaged employees are enthusiastic about their work,

motivated to contribute, and willing to go above and beyond their job
requirements.

*Productivity:* Satisfied employees tend to be more productive, efficient, and

focused on achieving organizational goals.

*Retention:* Employees who are satisfied with their jobs are more likely to stay
with the organization for longer periods, reducing turnover rates and associated
costs.

*Collaboration:* Satisfied employees are often more collaborative, willing to

work with others, share knowledge, and contribute to team success.

*Innovation:* Job satisfaction can foster a conducive environment for

creativity and innovation, as satisfied employees feel empowered to propose
new ideas and solutions.

*Customer Service:* Satisfied employees are more likely to deliver high-

quality customer service, as they are motivated to meet customer needs and
exceed expectations.
*Absenteeism:* Job satisfaction can influence absenteeism rates, with satisfied
employees being less likely to take unplanned absences or sick leave.

*Work Relationships:* Satisfied employees tend to build positive

relationships with colleagues, managers, and clients, leading to a more
harmonious work environment.
*Job Crafting:* Employees who are satisfied with their jobs may engage in
job crafting, where they proactively modify their job roles and tasks to better
align with their skills, interests, and values.

*Organizational Citizenship Behaviors (OCBs):* Satisfied employees are

more likely to engage in OCBs, such as volunteering for additional tasks,
helping coworkers, and participating in organizational initiatives beyond their
formal job responsibilities.

Overall, job satisfaction behavior in HRM reflects the extent to which

employees are content, committed, and actively engaged in their work,
which can have significant implications for organizational performance
and success.

Abdul Mateen-19930
Topic#3 : Payroll

Refers to the process of managing and administering the financial aspects of

paying employees within a company or organization. It involves calculating
employees' wages or salaries, deducting taxes and other withholdings, and issuing
payments to employees. Additionally, payroll may include managing employee
benefits, keeping accurate records, and ensuring compliance with tax and labor
laws. Essentially, payroll encompasses all tasks related to compensating
employees for their work.

The elements of payroll

*Employee Information*: Collect and maintain accurate records of employee

details such as name, address, social security number, and tax withholding
information.
*Timekeeping*: Track hours worked by employees, including regular hours,
overtime, vacation time, sick leave, and any other types of leave.

*Salary/Wage Calculation*: Calculate employee wages or salaries based on

their hourly rate, salary, or other compensation agreements.
*Deductions*: Deduct various items from employees' gross pay, such as
federal, state, and local taxes, social security contributions, health insurance
premiums, retirement plan contributions, and other voluntary deductions.

*Benefits Administration*: Manage employee benefits programs,

including health insurance, retirement plans, life insurance, and other
perks offered by the company.

*Payroll Taxes*: Withhold and remit payroll taxes to the appropriate

government agencies, including federal income tax, state income tax, social
security tax, and Medicare tax.

*Payroll Processing*: Process payroll on a regular schedule, whether weekly,

bi-weekly, or monthly, and ensure accurate and timely payments to employees.

*Recordkeeping*: Maintain detailed records of payroll transactions,

including employee earnings, deductions, tax withholdings, and other relevant
information.

*Compliance*: Ensure compliance with all relevant federal, state, and local
laws and regulations governing payroll, including labor laws, tax laws, and
reporting requirements.

*Reporting*: Generate reports and documents as required by law or company

policy, such as year- end tax forms (e.g., W-2s), payroll registers, and financial
reports.

These elements collectively form the payroll process, which is essential for
accurately compensating employees and maintaining legal compliance
Muhammad Bilal - 20329

Topic # 4 : Compensation and policies:

Compensation and benefits refers to the monetary and non-monetary rewards an

employee receives from their employer in exchange for their work. Together,
they make up a total compensation package, which may include salary, bonuses,
insurance, retirement contributions, and various other perks aimed at attracting,
motivating, and retaining employees.

Overall compensation is the top factor that job seekers consider when accepting
a new job. At the same time, compensation, benefits, and related taxes can
account for up to 70% of business costs, highlighting the importance of getting
comp & ben right at your company.
What is the difference between compensation and benefits?
The main difference between compensation and benefits is that compensation
is a financial form of remuneration, while benefits are non-financial.

Compensation is the money an employee receives in exchange for their labor,

which could be a salary, wages, commission, and bonuses. This money is
subject to taxation. HR uses compensation to attract top talent and boost
retention rates.

Benefits are extra perks or rewards that an organization provides to an employee,

and they may have a financial value, but the employee doesn’t receive any cash
directly. This includes health insurance, stock options, gym memberships,
flexible working hours, “summer Fridays,” learning and development
opportunities, and retirement savings plans. Some benefits are exempt from
taxation.

HR utilizes benefits to motivate employees, increase engagement and

performance, and accommodate the different needs that different candidates and
team members have.
For example, an employee in their 40s is likely to value a pension plan or
parental leave more than a recent graduate would. These desires may change
depending on personal life circumstances as well as changes in the economy.
TYPES OF COMPENSATION
Direct compensation:
Direct compensation is the financial compensation, or cash, given from the
employer to the employee for their services.

Base pay:
Base pay (also known as basic salary or base salary) refers to the fixed
financial amount that an organization pays its employees in exchange for the
services they perform. This amount is negotiated during the hiring process and
agreed upon before the employment contract begins. It is typically an annual or
monthly salary or an hourly rate.

Overtime pay:
Overtime pay is the amount of extra pay an employee receives for working
extra hours on top of their scheduled contract hours.

Every company should establish a set of normal working hours to clarify

overtime. For example, if the normal working week hours are 30, then an
employee who works 40 hours is eligible for overtime pay for those additional
10 hours.

All employees covered by The Fair Labor Standards Act (FLSA) – nonexempt
employees – who work over 40 hours per week are eligible for overtime pay. The
Federal Overtime law states that employers must compensate workers at least
time and a half for the overtime worked.

Variable compensation:
Variable compensation (also known as variable pay) is compensation given to an
employee that is based on performance. The aim of variable compensation is to
reward and encourage a specific behavior or result.

These pay programs are typically implemented with sales teams and are often
given in the form of bonuses and commissions. For example, if an individual
employee achieves a professional milestone, an entire team meets a goal, or the
entire company meets a specific target, then those people are rewarded
accordingly.

These performance goals will be pre-determined and outlined with a target

date. There may also be a range of payouts, which is based on how close the
results are to the original target.
Sales compensation:
A sales compensation strategy is often used to motivate a sales team to achieve
its goals. It will typically comprise a base salary and be topped up with
commissions, bonuses, and other performance-based incentives, all of which are
tailored to the role and company in question.

In this form of direct compensation, the base salary will often be minimal,
while the commissions and bonuses are lucrative. That is to incentivize
employees to achieve certain performance goals and contribute to the success
of the company.

GET ADDITIONAL INSIGHTS:

Types of Compensation: Everything HR
Professionals Need to Know Indirect compensation
Indirect compensation refers to monetary and non-monetary incentives given to
an employee to increase their overall engagement and motivation at work. This
type of compensation still has a financial value, but employees don’t receive it in
cash form.

Here are some of the common forms of indirect compensation. Note that
there’s an overlap between what’s considered indirect compensation and
what’s regarded as benefits.

Equity:
The employee is offered equity in the company via shares of stock or the option
to buy shares. This is a common part of compensation packages within startups
where cash is low, and they desire to reward employees who are the first
through the door.

When the company succeeds, the employee succeeds too, which incentivizes them
to work to achieve
the company’s goals.
Benefits to protect employees
Employees often offer a wide range of benefits that are meant to protect
employees’ future, including
health insurance, life insurance, pet insurance, pension plans, and more.

Health insurance is a big consideration for people working in countries without

access to free healthcare, such as the US. However, private healthcare can still
be a huge incentive to people living in countries with access to free healthcare
because it can mean reduced waiting times and access to more specialist
consultants.
According to research by Harvard Business Review, 88% of people surveyed
said that private health insurance would be a factor when considering a job
offer.

Non-monetary incentives
Non-monetary perks include experiential rewards, time to work on self-
determined projects, additional time off, flexible working, extra opportunities for
development, wellness programs, restaurant vouchers, free snacks or meals at the
office, and branded merchandise.

The new generation of workers care more about the benefits offered in a
compensation package than ever before, and companies are listening.

For example, Atlassian prioritizes its employee’s health and wellbeing and
offers care plans to manage and improve mental health. Beauty Pie gives
employees a full day off on their birthday, in addition to mental health days.

Facebook provides four months of parental leave for parents within the first
year of birth or adoption and reimbursement for egg-freezing and adoption
fees.

Incentives like these can go a long way to improving the happiness and
wellbeing of your employees in and out of the workplace. However, it’s
essential that you offer a variety of incentives that your ideal candidate (now
and in the future) is looking for.

DIVE IN
11 Top Non-Monetary Incentives to Reward
Your Employees Total compensation
A total compensation package is the combination of direct and indirect forms of
compensation, which is then presented to an employee as part of their contract.
It’s an important part of a company’s talent acquisition strategy. Benefits are
often also considered part of the total compensation package.

Every new hire should receive a clear report of their compensation package and
know who to contact if they have any questions. Splitting direct and indirect
compensation into two columns can make it easier for your employees to
understand what they will receive and are entitled to.
The law requires all companies to provide a basic set of compensation to
employees, but an attractive compensation package will help you stand out
from the crowd and win the war on talent, as well as retain your best
employees.

Types of employee benefits Total rewards platform Benify has identified four
distinct categories, which are:

Benefits at
work
Benefits for
health
Benefits for financial
security Lifestyle
benefits
Let’s take a closer look at these benefit categories.

Benefits at
work Flexible
working hours
Flexible working hours mean that employees are able to have some control over
their schedule and work at times most convenient for them. This is especially
important for parents, pet owners and carers.

According to a survey by Future Forum, 95% of respondents care more about

flexible hours than remote work, while a report by Adobe found that 84% of
enterprise employees would like some flexibility.
On top of this, HBR’s survey found more flexible hours to be second on the list of
the most desirable
employee benefits.

Paid time off

Paid time off is usually given to salaried employees and termed as annual
leave. This is typically in the range of two to four weeks each year, which the
employee can use as and when they like.

Some companies, such as Airbnb, have introduced an unlimited PTO benefit,

which gives employees much more flexibility to manage their own leave as long
as they continue to meet their responsibilities.
The added benefit of this to the organization is that they don’t have to pay back
employees for any
unused paid time off when they leave the organization, which can be costly.

Leave:
There are many other types of leave that an organization can offer its
employees, including sick leave, parental leave, public holidays, bereavement
leave, study leave, adverse weather leave, volunteer time off, and more.

Sometimes, this leave will be paid, and other times, it won’t, depending on the
company policy.

Skills development:
Another benefit that employers can offer is funding for extra tuition or
student loans, as well as budgeting for online courses, workshops, and
certification programs that help employees learn new skills and progress in
their careers.

Food & beverages:

Offering free or discounted food and beverages at work is a popular voluntary
benefit, particularly in Europe, and can go a long way in improving the
happiness of your staff.

Whether you offer snacks or free tea and coffee in the break room, subsidized
meals, or vouchers that cover your employee’s food while at work, this can
really set you apart from your competition. Plus, offering healthy snacks, food,
and plenty of water machines or free bottles of water will keep your employees
energized and productive throughout the day.

Gifts & activities:

Whether it’s a team bonding experience, an evening out, company swag,
recognition rewards, or even a birthday gift, these small perks all contribute to a
happy and positive work environment. For example, Zappos recognizes
employees achievements by rewarding them with “Zollars,” which can be spent
in store, at the movies, or used to make a donation to charity.

Benefits for
health :

Healthcare:
This includes common healthcare such as health insurance, dental plans, and
vision plans. But some companies go the extra mile by offering more
specialized services such as massage therapy, physiotherapy, acupuncture,
fertility treatment, and more.

Apple’s major campuses provide all employees with access to an on-site

doctor, nurse, dietician, and acupuncturist.

Wellness incentives
As a society, we are starting to acknowledge that health does not just relate to
the physical body but also the emotional, mental, and spiritual body.
Therefore, many companies are taking a more holistic approach to health and
offering more encompassing wellness incentives for employees. This includes
therapy sessions, a care plan for each employee, sleep pods to take a quick
power nap at work, and more.

Career platform Zippia compiled numerous statistics and reports that effective
employee wellness programs reduce absenteeism by 14-19%, and over 85% of
employees in these programs intend to stay in their jobs.
Example 1: A full-time hourly
employee in retail Compensation
Benefits
Base pay: $12 per hour (up to 40 hours per week)
Overtime pay: $18 per hour for any overtime worked 3 weeks of paid leave
per year for full-time employees
$200 clothing allowance
15% discount on everything in store and online, and 25% discount after 12 months
of employment.
Syed
Jehanzaib
ID: 20224

Topic # 5. Right Job Size:

Right Job Size within an organization, when viewed through a humanistic lens,
emphasizes the well- being and fulfillment of employees alongside
organizational goals. It's about ensuring that each person's workload is
reasonable, aligns with their skills and abilities, and fosters a sense of purpose
and satisfaction. Let's delve into this concept with clear, straightforward language
and real-world examples:

Recognizing Individual Talents: Picture a software development company.

Within this organization, there's a programmer named Alex who excels at
problem-solving and coding complex algorithms. Assigning Alex to projects that
capitalize on these strengths, such as developing innovative software features,
illustrates right job sizing. It's akin to placing the right tool in the hands of a
skilled craftsman to maximize efficiency and quality.

Avoiding Overwhelm: Now, imagine if Alex was tasked with managing multiple
projects simultaneously, each with tight deadlines and competing priorities. This
could lead to burnout and decreased productivity. Right job sizing involves
ensuring that employees like Alex have a manageable workload, allowing them
to focus and deliver their best work without undue stress. It's like balancing a
load on a seesaw to prevent it from tipping too far in one direction.

Encouraging Growth Opportunities: Consider another scenario: Emily, a

marketing associate, expresses an interest in learning more about social media
advertising. The organization responds by enrolling her in relevant training
programs and gradually entrusting her with more responsibility in that area. This
demonstrates a commitment to nurturing talent and providing opportunities for
personal and professional development. It's akin to planting a seed and
providing the right nutrients for it to grow into a flourishing plant.

Promoting Work-Life Balance: In our software development company, managers

prioritize work-life balance by encouraging employees to take regular breaks,
disconnect after hours, and use their vacation time. This shows respect for
employees' well-being and acknowledges that productivity isn't solely determined
by hours worked. It's like recognizing that a rechargeable battery needs time to
rest and regain its power.
Fostering Collaboration and Support: Within teams, colleagues readily offer
assistance and support to one another, ensuring that no one feels overwhelmed or
isolated. This collaborative spirit fosters a sense of belonging and reinforces the
idea that everyone's contributions are valued. It's like a relay race where each
team member passes the baton smoothly, knowing that they're all working
towards a common goal.

By adopting a humanistic approach to right job sizing, organizations can create a

work environment where employees feel appreciated, motivated, and empowered
to excel. When individuals are placed in roles that leverage their strengths,
provide opportunities for growth, and prioritize their well-being, both the
organization and its employees reap the benefits of increased productivity,
morale, and success.

Shahzaib Ahmed - 19765

Topic # 06: Computer Literacy :

Introduction:

Computer literacy is a crucial topic in the context of managing human capital,

especially in today's digital age where technology plays a significant role in
nearly every aspect of business operations. Here's how computer literacy
intersects with managing human capital:

Workforce Efficiency:

Computer literacy ensures that employees can efficiently use various software
applications and tools to perform their tasks. A workforce proficient in computer
skills can complete assignments more quickly and accurately, leading to
increased productivity and efficiency.
 Communication and Collaboration:

In a business environment, effective communication and collaboration are

essential. Computer literacy enables employees to utilize email, instant
messaging, video conferencing, and collaboration platforms effectively. Managers
must ensure that their workforce is proficient in these technologies to facilitate
seamless communication and collaboration among team members.
Data Management and Analysis:

Managing human capital involves analyzing data related to employee

performance, productivity, and engagement. Computer literacy equips employees
with the skills needed to collect, analyze, and interpret data using various
software tools such as spreadsheets, databases, and analytics software. This
enables managers to make informed decisions based on data-driven insights.

Adaptability and Innovation:

Technology is constantly evolving, and businesses must adapt to new tools and
software to stay competitive. A workforce that is computer literate is more
adaptable to technological changes and can quickly learn and adopt new
software and technologies. Moreover, computer-literate employees can
contribute to innovation by leveraging technology to develop new processes,
products, and services.

Training and Development:

Managing human capital involves investing in the training and development of

employees. Computer literacy training programs can help employees enhance
their skills and stay updated with the latest technology trends. These programs
can be tailored to meet the specific needs of different departments or job roles
within the organization.

Cybersecurity Awareness:
In an age of increasing cybersecurity threats, computer literacy also encompasses
knowledge of cybersecurity best practices. Employees need to understand how to
recognize and mitigate cybersecurity risks such as phishing attacks, malware, and
data breaches. Managers should incorporate cybersecurity awareness training
into computer literacy programs to ensure that employees can protect sensitive
information and assets.

Conclusion:
Overall, integrating computer literacy into managing human capital prepares
individuals to effectively leverage technology in the workplace and manage the
technological aspects of human resource management. It equips future
managers with the skills needed to maximize workforce productivity, foster
collaboration, and drive innovation in a digital business environment.
Fareed
19766

Topic no. 7: Payroll Software

Payroll software is a crucial tool for organizations, streamlining the complex

process of managing employee compensation, taxes, and benefits. From an
organizational perspective, here's a detailed description of what payroll
software offers:

Automated Payroll Processing: Payroll software automates the calculation of

employee wages, including salaries, hourly rates, overtime, bonuses, and
deductions. This automation reduces the risk of human error and ensures accurate
payments to employees.

Tax Compliance: Payroll software keeps organizations compliant with tax

regulations by automatically calculating and deducting federal, state, and local
taxes from employee paychecks. It also generates tax forms, such as W-2s and
1099s, and ensures timely tax filings, reducing the risk of penalties for non-
compliance.

Direct Deposit and Payment Options: Most payroll software allows

organizations to offer direct deposit as a payment option, eliminating the need
for paper checks and reducing administrative costs.
Additionally, some software supports alternative payment methods, such as
paycards or electronic wallets, providing flexibility for employees.

Employee Self-Service: Payroll software often includes employee self-service

portals where staff can access their pay stubs, tax documents, and benefit
information online. This empowers employees to manage their payroll-related
tasks independently, reducing the administrative burden on HR staff.
Benefits Administration: Many payroll software solutions integrate with benefits
administration systems to manage employee benefits, such as health insurance,
retirement plans, and flexible spending accounts. This integration ensures
accurate deductions and simplifies benefits enrollment and management.

Time and Attendance Tracking Integration: Some payroll software solutions

integrate with time and attendance tracking systems to accurately calculate
employee hours worked, including regular time, overtime, and paid time off.
This integration streamlines payroll processing and ensures accurate payment
for hours worked.
Reporting and Analytics: Payroll software generates various reports and
analytics to help organizations monitor payroll expenses, track labor costs, and
analyze workforce trends. These insights enable informed decision-making and
strategic planning related to staffing and budgeting.

Compliance Monitoring: Payroll software helps organizations stay compliant

with labor laws and regulations by tracking employee classifications, such as
exempt or non-exempt status, and ensuring adherence to minimum wage
requirements, overtime rules, and other employment regulations.

Integration with Accounting Software: Payroll software often integrates with

accounting software to streamline financial processes and ensure accurate
recording of payroll expenses in the organization's general ledger. This integration
simplifies financial reporting and reconciliation.

Security and Data Protection: Payroll software prioritizes the security and
protection of sensitive employee data, implementing robust security measures
such as encryption, multi-factor authentication, and regular data backups to
safeguard against data breaches and unauthorized access.

In summary, payroll software serves as a comprehensive solution for

organizations to efficiently manage payroll processes, ensure compliance with tax
and labor regulations, empower employees with self- service tools, and generate
insights to support strategic decision-making. Its features and capabilities
contribute to increased accuracy, efficiency, and compliance in managing
employee compensation and benefits.
DANIS
H 19771
TOPIC #08 : NUMERICAL SKILL OF HRM:

Numerical skills in Human Resource Management (HRM) refer to the ability to

analyze, interpret, and manipulate numerical data and statistics related to
various HR functions. Some examples of numerical skills in HRM include:

Data Analysis: HR professionals need to analyze data related to employee

performance, turnover rates, compensation, and benefits to identify trends,
patterns, and areas for improvement.

Budgeting: HR managers often handle budgeting and financial planning for

activities such as recruitment, training, and employee development. They need
to be able to accurately estimate costs and allocate resources effectively.

Statistical Analysis: Understanding statistical concepts and techniques

is important for HR professionals when conducting surveys, analyzing
survey data, and interpreting results.
Forecasting: HR managers may use numerical skills to forecast future
workforce needs based on factors such as company growth, industry trends,
and turnover rates.

Payroll Processing: HR professionals need to be proficient in processing

payroll, calculating salaries, wages, taxes, and deductions accurately.

Performance Metrics: HR professionals use numerical metrics such as Key

Performance Indicators (KPIs) to evaluate employee performance, track
progress towards organizational goals, and assess the effectiveness of HR
initiatives.
Compliance and Regulations: HR managers must ensure compliance with labor
laws, regulations, and company policies, which may involve interpreting and
applying numerical data related to legal requirements such as minimum wage
laws, overtime regulations, and benefits eligibility.

Overall, strong numerical skills are essential for HR professionals to effectively

manage various aspects of human capital and contribute to organizational
success.
Abdul Rehman - 19860

Topic # 9 ( Payroll SOPs) :

Essential Payroll SOPs (Standard Operating Procedures) might include:

Employee Onboarding:
Process: Detailing the steps for collecting necessary payroll information
from new hires, setting up payroll accounts, and explaining payment
schedules.

Timekeeping Procedures: Outlining how employees record their work hours,

whether through a digital system, time clocks, or manual timesheets, and how
this data is verified and processed for payroll.

Payroll Processing: Describing the steps involved in calculating wages,

including deductions for taxes, benefits, and other withholdings, and ensuring
accuracy in payment distribution.

Tax Compliance: Addressing how to handle payroll taxes, including

federal, state, and local tax requirements, filing deadlines, and procedures
for issuing tax forms such as W-2s and 1099s.

Benefits Administration: Explaining the procedures for managing

employee benefits such as health insurance, retirement plans, and other
deductions that impact payroll.

Payroll Reporting: Detailing the creation and distribution of payroll reports

to stakeholders, including management, accounting, and regulatory agencies,
to ensure transparency and compliance.
Record Keeping: Establishing guidelines for maintaining payroll records,
including how long to retain records, where to store them, and who has access
to sensitive payroll information.

Payroll Audits: Outlining procedures for conducting regular audits of payroll

processes to identify errors, discrepancies, or potential areas for improvement.
M. Shahzaib - 19769

Topic # 10 : Relation with bank and Money:

The relationship with banks and money primarily involves payroll management,
employee benefits administration, and financial wellness programs. Here's how
banks and money relate to HR concepts:

*Payroll Management*: HR departments often work closely with banks to

ensure smooth payroll processing. This includes setting up direct deposit
accounts for employees, managing salary payments, and addressing any
payroll-related issues or discrepancies.

*Employee Benefits Administration*: Many companies offer various

benefits such as retirement plans, health insurance, and flexible spending
accounts. HR professionals coordinate with banks to administer these
benefits efficiently, including contributions, withdrawals, and investment
management.

*Financial Wellness Programs*: HR may collaborate with banks to provide

financial education and wellness programs to employees. These programs aim to
improve financial literacy, budgeting skills, and overall financial well-being.

*Employee Banking Services*: Some companies partner with banks to offer

exclusive banking services or discounts to their employees. This can include
preferential interest rates on loans, waived fees, or special account packages
tailored for employees.

Overall, the relationship between HR, banks, and money revolves around
ensuring the financial stability and well-being of employees, while also
streamlining administrative processes related to payroll and benefits.
MUHAMMAD
FAISAL -
POINT#11 (PROVIDENT FUNDS OF EOBI) :

The Employees' Old-Age Benefits Institution (EOBI)

in Pakistan manages the Employees' Old-Age Benefits Scheme (EOB Scheme),
which provides social security benefits to employees in the private sector. One
of the benefits provided under this scheme is the old-age pension, which is
essentially a form of provident fund.
Employees and their employers contribute to this fund during the employee's
working years, and upon reaching retirement age, the employee becomes
eligible to receive a monthly pension based on their contributions and the terms
of the scheme.
The EOBI plays a crucial role in managing these provident funds, ensuring that
they are adequately funded and that eligible retirees receive their pensions in a
timely manner. The EOBI also administers other benefits such as survivor's
pension, invalidity pension, old-age grant, and survivor's grant.

ELEMENTS OF EOBI:

Old-Age Pension
EOBI provides a monthly pension to retired employees who have contributed to
the scheme during their working years. The pension amount is based on the
individual's contributions and the terms of the scheme.

Contributions
Both employees and their employers contribute to the EOBI fund during the
employee's working years. These contributions form the basis for providing
benefits to employees upon retirement.

Survivor's Pension
In the event of an employee's death, EOBI provides a survivor's pension to the
deceased employee's spouse and dependent children.

Invalidity Pension
EOBI also offers an invalidity pension to employees who become permanently
disabled and are unable to work due to a disability.
Old-Age Grant:
Apart from the pension, EOBI may provide a one-time lump sum payment
known as an old-age grant to eligible individuals who have reached retirement
age but have not completed the required years of service to qualify for a pension.

Administration EOBI: is responsible for administering the entire social

security scheme, including collecting contributions, managing funds,
determining eligibility criteria, and disbursing benefits to eligible
individuals.

Registration:
Employers are required to register their employees with EOBI and make
regular contributions to the fund on behalf of their employees.

Legal Framework:
EOBI operates under the Employees' Old-Age Benefits Act, 1976, which lays
down the legal framework for the institution's functions, powers, and
responsibilities.

SUMMARY:
Overall, EOBI plays a crucial role in providing social security benefits to
employees in the private sector in Pakistan, ensuring their financial well-being
during retirement and in times of need.
 Arsalan
-ul-haq
- 19867

Topic #12: Excel - Power BI :

Introduction:
Excel and Power BI are two powerful tools developed by Microsoft that cater to
different aspects of data analysis and visualization. Excel is a versatile spreadsheet
application used for organizing and analyzing data, While Power BI is a robust
business analytics tool designed for interactive data visualization and business
intelligence. Both tools have their unique features and benefits, and understanding
how to leverage them effectively can greatly enhance data-driven decision-making
processes.

Uses:
Excel is commonly used for various tasks such as financial analysis, budgeting,
data entry, and basic data visualization. It allows users to perform calculations,
create charts and graphs, and organize data in tabular format. On the other hand,
Power BI is ideal for creating interactive reports and dashboards, performing
advanced data modeling, and analyzing large datasets. It can connect to multiple
data sources, transform and clean data, and generate insights through
visualizations and analytics.

Benefits:
Excel:
Versatile: Excel can handle a wide range of tasks, from simple calculations to
complex data analysis.
Familiarity: Many users are already familiar with Excel's interface and
functions, making it easy to get started.
Accessibility: Excel is available as part of the Microsoft Office suite and is
 widely used in various industries and sectors dashboards that can be easily
shared and explored.
Advanced Analytics: Power BI offers advanced data modeling and analytics
capabilities, enabling users to gain deepe r insights from their data.
 Scalability: Power BI can handle large datasets and is suitable for
enterprise-level business intelligence needs.

Example:
Consider a retail company that wants to analyze its sales data to identify trends
and opportunities for growth. The company can use Excel to organize and clean
the sales data, calculate metrics such as revenue and profit margins, and create
basic charts to visualize sales performance by region or product category.

Once the data is prepared in Excel, the company can import it into Power BI to
create interactive dashboards that provide real-time insights into sales
performance. Power BI can connect to additional data sources such as customer
demographics or market trends to enrich the analysis further. The company can
then share these dashboards with stakeholders across the organization, enabling
informed decision-making based on actionable insights.

Conclusion:
In conclusion, Excel and Power BI are both valuable tools for data analysis and
visualization, each offering its own set of features and benefits. While Excel is
suitable for basic data manipulation and visualization tasks, Power BI provides
more advanced capabilities for interactive reporting and business intelligence.
By understanding the strengths of each tool and how they complement each
other, organizations can leverage their data more effectively to drive informed
decision-making and achieve their business objectives.
Marya
m Noor
- 20185

Topic #13: Benefits of Calculation sheet :

Unveiling the Humanistic Approach to Calculation Sheets: Simplifying

Complexity with Clarity and Compassion

Introduction:
Calculation sheets are more than just a tool for number crunching; they are a
medium to communicate complex data in a concise, understandable manner. By
infusing a humanistic approach into these sheets, we unlock a realm of benefits
that extend beyond mere calculations.

Enhanced Clarity:
Humanistic calculation sheets prioritize clarity over complexity. By using easy
and crisp language, these sheets ensure that anyone, regardless of their
expertise, can grasp the information effortlessly.
Example: Instead of using technical jargon, a humanistic calculation sheet for
budget planning might state, "Projected Expenses" instead of "Forecasted
Expenditures."

Improved Understanding:
Through the use of relatable language and real-life examples, humanistic
calculation sheets foster a deeper understanding of the data presented.
Example: In a financial report, instead of solely presenting numbers, a
humanistic approach may include a brief narrative explaining the significance of
those figures, such as "Increased revenue by 10% due to successful marketing
campaigns."
Empathy in Communication:
Humanistic calculation sheets consider the end-users' perspective,
recognizing that behind every number lies a human story. They convey
information with empathy, acknowledging the impact of decisions on
individuals.
Example: In a project cost analysis, instead of just stating the total expenses, a
humanistic approach may highlight the implications for stakeholders, such as
"Investing in sustainable practices not only reduces costs but also benefits the
environment."
Encouraging Collaboration:
By making information accessible and understandable, humanistic
calculation sheets facilitate collaboration among team members, fostering a
sense of inclusivity and shared ownership.
Example: A project timeline spreadsheet could include clear milestones and
deadlines, allowing team members to coordinate efforts effectively and support
each other in achieving goals.

Building Trust:
Humanistic calculation sheets build trust by being transparent and honest in their
communication. By presenting information in a straightforward manner, they
foster confidence in decision-making processes.
Example: A sales performance report may include not only successful
outcomes but also areas for improvement, demonstrating a commitment to
continuous growth and honesty.

Conclusion:
Incorporating a humanistic approach into calculation sheets transforms them
from mere data repositories into powerful tools for communication and
collaboration. By prioritizing clarity, understanding, empathy, collaboration, and
trust, these sheets become catalysts for informed decision- making and positive
outcomes in any scenario.