Employee Benefits and Services

Employee Benefits and Services

Benefits are indirect financial and non-financial payments employees receive in addition to their regular wages or salary for continuing their employment with company.

In Bangladesh, employees get different banking companies such as government bank, non-government bank and multinational banking companies. The employees who get different benefits form different banking companies are given bellow.

Employee Benefits

Government Bank

JANATA BANK LTD.Multinational Bank

HSBC BANK LTD.Non- govt Bank

PUBALI BANK LTD.

1. Annual leave

2. Festival leave and bonus

3. Sick leave

4. Maternity leave

5. Pension

6. Gratuity

7. Lunch facility

8. Housing allowance

9. House building loan10. Promotion and

11. Rewards1. Festival bonus 2. Paid leave bonus

3. Transport facility

4. Car loan

5. Sundray loan

6. Home loan

7. Flexible working arrangement

8. Marriage leave

9. maternity leave

10. Sick leave

11. Vacation

12. Sport and club

13. Provident fund

14. Gratuity

15. Communication

16. Learning and development facility and

17. Promotion 1. Accommodation allowance 2. Conveyance allowance

3. Medical facility

4. Provident fund

5. Insurance benefit

6. Promotion facility

7. Loan facility8. Festival bonus

9. Leave with payment

10. Bonus facility11. Subsistence allowance

12. Reward

13. Scholarship benefit for the children by the welfare fund

14. Sick leave and

15. Pension

The above benefits are described bellow

Employees benefits of Government Bank (Janata Bank Ltd.)

An employee of a government bank (Janata Bank Ltd.) gets some benefits form the government, these benefits are discussed in following-1. Annual leave

Government provides 10 days casual leave to the employees of Janata Bank Ltd. each year with out public holidays.2. Festival leave and bonus

The employees of this bank enjoy two times festival leave and bonus each year equal to their basic with six days.3. Sick leave

Employees get minimum 2.5 months and minimum 4 months sick leave.4. Maternity leave

The employees of this bank enjoy 6 months maternity leave continuously.

5. Pension

The employees of Janata Bank Ltd. Enjoy the pension facilities. Pension depends on the last basic. It is given after retirement.6. Gratuity

Gratuity is provided on the basis of employees will. For example, if an employee wants to deduct 10% of basic, after his or her retirement will get 10% gratuity with interest. 7. Lunch facility

The employees of this bank also enjoy the lunch facility. The government provides tk. 150 per day for lunch to the employee.8. Housing allowance

Government provides housing allowance to the employees basis on the place. Such as an employee who works in any branch of Dhaka he will get 60% housing allowance of basic, an employee who works in outpost he gets 40% housing allowance, an employee who works in district branch he or she will get 55 housing allowance of basic and any subordinate or lower level employee gets 60% housing allowance form the government. 9. House building loan

Housing building loan also is provided to the employees. Housing building loan depends on the time and basic. An employee gets such loan in a specific rate of basic at a lower interest rate. Employee can take this loan when their need.10. Promotion Promotion is given after three years each. It depends on the banking diploma, computer literacy and employees performance. By promotion any employee can take higher position. 11. RewardsRewards is provide basis on the working performance. An employee who performs his works properly he will get such facility. It is provided to the employees so that they can perform their job properly. Md. Shamim

Officer,

Janata Bank Ltd.

Rayarbag Branch

Dania, Jatrabari, Dhaka.

Employees benefits in Multinational Bank(HSBC)

An employee of a multinational bank The Hongkong and Shanghai Banking Corporation Ltd. (HSBC) gets the following benefits with basic salary given by the employer of the bank, these benefits are given or discussed in following. 1. Festival bonus

Employees of HSBC enjoys the festive bonus form the bank authority. Employees get one time festival bonus equal to their one basic.

2. Paid leave bonus

They also enjoy the paid leave bonus at one time equal to their one basic with 14 days.3. Transport facility

Transport facility is also provided to the employees. Employees who are in branch-4 they get provided car facility. 4. Car loan

Employees get car loan 8-10 time basic. Specially, about 3% of basic is provided as a car loan. 5. Sundray loan

Employees of HSBC get surdray loan this is paid maximum tk. 5,00,000.00

6. Home loan

Home loan is also provided by the authority of HSBC. Employees home loan depends on the cost of fund. 7. Flexible working arrangement

Flexible working arrangement benefits mean that the employees can learn any time about any thing their needed.

8. Marriage leave

The employees of HSBC gets 7days marriage leave. 9. Maternity leave

The authority of HSBC provides 4 months maternity leave to the employees. 10. Sick leave

Employee enjoy sick leave until they come round fully.

11. Vacation

Employee of this bank enjoy 24 days to 30 days vacation without holidays each year. 12. Sport and club

Sports and social club depends on each departments.

13. Provident fund

About 10% of basic is provided to the provident fund.

14. Gratuity

Gratuity is provided basis on the employees work time. For example if an employee works 10 years and gets tk. 1,00,000 each year then the gratuity will be tk. 10,00,000. 15. Communication

It is the most important benefit of employee that is provided by HSBC authority. Employees can communicate at any time with their boss or with other employees about their problems and needed. 16. Learning and development facility and

If employees want to learn any difficult things they can go to the learning and development center.

17. PromotionPromotion is given basis on the employees performance so employees performance is evaluated on time each year by the higher authority. At last we can say that the above benefits differ from one employees to another.

Hasnain Mamun Manager, HR Projects and Development

Human Resources

The Hongkong and Shanghai Banking Corporation Ltd.

Dhaka main office,

Anchor Tower, 108 Bir Uttam C R Dutta Road. Dhaka 1205, Bangladesh.

Employees benefits in a Private Bank (Pubali Bank Ltd.)

An employee (Senior or Principal officer) of a private bank (Pubali bank Ltd.) enjoys the following benefits with basic salary given by the bank authority, those are discussed as follows.

1. Accommodation allowance

A senior principal officer of Pubali Bank enjoys 60% accommodation allowance of his or her basic salary.

2. Conveyance allowance

Conveyance allowance also is provided to the senior officer of this Bank, the employees get 3.75% of basic salary as the conveyance allowance.

3. Medical facility

About 10% of ones basic remuneration is given to a senior principal officer as the medical facilities.

4. Provident fund

An employee enjoys the provident fund facilities. For this an employee has to pay 10% of his or her basic salary to the provident fund and the employer also has to pay 10% to the provident fund.

5. Insurance benefit

Insurance benefit is given to each employee by the authority of the bank. Insurance facility is totally offered by the bank authority when an employee dies during his or her job period. 6. Promotion facility

Every employee enjoys the promotion facility in the Pubali Bank. Promotion facility is provided basis on the employees job performance. If an employee can perform his job properly he can get or enjoy such facility form the bank. 7. Loan facility

The employees of Pubali Bank also enjoys the loan facility from the bank. Generally the employee has the opportunity to get 75% loan facility against his or her deposited money to the provident fund.8. Festival bonus

Every employee gets two bonuses facilities in every year for two religious program. These bonus are equal to one months gross salary. 9. Leave with payment

A senior principal officer gets the two types of leave with payment. He enjoys the 20 days of a year as casual leave and 33 days of a year as privilege leave.

10. Bonus facility

Employee also gets two types of bonus facility from authority. One is festival bonus that has been discussed previously and another is incentive bonus. Incentive bonus is given to every employee when bank earns huge amount of profit. The main purpose of this bonus is the encourage and motivate the employee so that every employee perform their perspective job with interest.

11. Subsistence allowance

An employee gets the subsistence allowance for the time being, it is also paid to the employee when the price of daily necessary things increases. 12. Reward

When an employee is able to achieve the of the bank and can take vital rule by his job performance in his working time,. The bank authority gives his or her some money or maintenance promotion as the reward of his or her extra performance. 13. Scholarship benefit for the children by the welfare fund

If any boy or girl of an employee makes good result in the public examination, an employee gets tk. 20,000 for his or her children for better education. But for this facility an employees ha to become a member to the welfare society and he has to pay the fixed monthly payment.

14. Sick leave

Sick leave is provided to the employee until he or she comes round. There is no specific time for sick leave.

15. PensionEvery employee gets the pension facility when an employee goes to retirement he or she gets a large amount of money at a time. That money is deposited by the bank authority at 10% rate of basic remuneration in the provident fund.Md. Mukul Hossain Asst. Manager

Pubali Bank Ltd.

Wari Branch, Dhaka.

N.B. It is mentionable that the above benefits differ from employees rank to rank.