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Amresh
This is an example of a partnership agreement. Be sure to consult an
attorney before finalizing this form as your business partnership
contract.
Partnership Agreement
Partnership Agreement
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Maslow’s and Herzberg’s Theories
Two-factor theory fundamentals: Attitudes and their connection with industrial mental health are related to Maslow's theory of motivation. His findings have had a considerable theoretical, as well as a practical, influence on attitudes toward administration. According to Herzberg, individuals are not content with the satisfaction of lower-order needs at work, for example, those associated with minimum salary levels or safe and pleasant working conditions. Rather, individuals look for the gratification of higher-level psychological needs having to do with achievement, recognition, responsibility, advancement, and the nature of the work itself.
THE COMPETENCIES POCKETBOOK
"Clear, concise and thought-provoking. Provides a logical step-by-step guide for deciding why and how to use competencies."
Showing posts with label Other Act. Show all posts
Showing posts with label Other Act. Show all posts
Sunday, March 10, 2013
Friday, March 8, 2013
STATEMENT SHOWING STATEWISE APPLICABILITY OF PROFESSION TAX ACT.
| Sr. No. | State | Applicability of Act |
| 1 | Andhra Pradesh | Yes |
| 2 | Arunachal Pradesh | No |
| 3 | Assam | Yes |
| 4 | Bihar | No |
| 5 | Chattisgarh | Yes |
| 6 | Chennai | Yes |
| 7 | Delhi | No |
| 8 | Goa | No |
| 9 | Gujarat | Yes |
| 10 | Haryana | No |
| 11 | Himachal Pradesh | No |
| 12 | Jammu & Kashmir | No |
| 13 | Jharkhand | No |
| 14 | Karnataka | Yes |
| 15 | Kerala | Yes |
| 16 | Madhya Pradesh | Yes |
| 17 | Maharashtra | Yes |
| 18 | Manipur | No |
| 19 | Meghalaya | Yes |
| 20 | Mizoram | No |
| 21 | Nagaland | No |
| 22 | Orissa | Yes |
| 23 | Punjab | No |
| 24 | Rajasthan | No |
| 25 | Sikkim | No |
| 26 | Tamil Nadu | Yes |
| 27 | Tripura | Yes |
| 28 | Uttar Pradesh | No |
| 29 | Uttaranchal | No |
| 30 | West Bengal | Yes |
STATEMENT SHOWING STATEWISE APPLICABILITY OF LABOUR WELFARE FUND ACT.
| STATEMENT SHOWING STATEWISE APPLICABILITY OF LABOUR WELFARE FUND ACT. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Short Term Incentives
Most
firms have annual bonus plans aimed at motivating the short-term
performance of managers and executives. Short term bonuses can easily
result in plus or minus adjustments of 25% or more to total pay. There
are three basic issues to consider when awarding short term incentives:
eligibility, fund size, and individual awards.
Eligibility: Most firms opt for broad eligibility – they include both top and lower-level managers and mainly decide who’s eligible in one of two ways. Based on one survey about 25% of companies decide eligibility based on job level or job title. About 54% decide eligibility based on a combination of factors, including job level/title, base salary level, and discretionary considerations such as identifying key jobs that have a measurable impact on profitability. Base salary level alone is the sole determinant in less then 3% of the companies polled.
The size of the bonus is usually greater for top-level executives. Thus, executive earning $150,000 in salary may be able to earn another 80% of his or her salary as a bonus, while a manager in the same firm earning $80,000 can earn only another 30%. Similarly, a supervisor might be able to earn up to 15% of his or her base salary in bonuses. Average bonuses range from a low of 10% to a high of 80% or more. A typical company might establish a plan whereby executives could earn 45% of base salary, managers 25%, and supervisory personnel 12%.
Fund Size: the firm must also decide the total amount of bonus money to make available fund size. Some use a nondeductible formula. They use a straight percentage usually of the company’s net income to create the short term incentive fund. Others use a deductible formula, on the assumption that the fund should start to accumulate only after the firm has met a specified level of earnings. Some firms don’t use a formula at all, but make that decision on a totally discretionary basis.
There are no hard-and-fast rules about proportion of profits to pay out. One alternative is to reserve a minimal amount of the profits, say, 10% for safeguarding stockholders’ investments and then to establish a fund for bonuses equal to, say 20% of the corporate operating profit before taxes in excess of this base amount. Thus, if the operating profits were $200,000 them the management bonus fund might be 20% of $180,000 or $36,000. Other illustrative formulas used for determining the executive bonus fund are as follows:
1. Ten percent of net income after deducting 5% of average capital invested in business.
Eligibility: Most firms opt for broad eligibility – they include both top and lower-level managers and mainly decide who’s eligible in one of two ways. Based on one survey about 25% of companies decide eligibility based on job level or job title. About 54% decide eligibility based on a combination of factors, including job level/title, base salary level, and discretionary considerations such as identifying key jobs that have a measurable impact on profitability. Base salary level alone is the sole determinant in less then 3% of the companies polled.
The size of the bonus is usually greater for top-level executives. Thus, executive earning $150,000 in salary may be able to earn another 80% of his or her salary as a bonus, while a manager in the same firm earning $80,000 can earn only another 30%. Similarly, a supervisor might be able to earn up to 15% of his or her base salary in bonuses. Average bonuses range from a low of 10% to a high of 80% or more. A typical company might establish a plan whereby executives could earn 45% of base salary, managers 25%, and supervisory personnel 12%.
Fund Size: the firm must also decide the total amount of bonus money to make available fund size. Some use a nondeductible formula. They use a straight percentage usually of the company’s net income to create the short term incentive fund. Others use a deductible formula, on the assumption that the fund should start to accumulate only after the firm has met a specified level of earnings. Some firms don’t use a formula at all, but make that decision on a totally discretionary basis.
There are no hard-and-fast rules about proportion of profits to pay out. One alternative is to reserve a minimal amount of the profits, say, 10% for safeguarding stockholders’ investments and then to establish a fund for bonuses equal to, say 20% of the corporate operating profit before taxes in excess of this base amount. Thus, if the operating profits were $200,000 them the management bonus fund might be 20% of $180,000 or $36,000. Other illustrative formulas used for determining the executive bonus fund are as follows:
1. Ten percent of net income after deducting 5% of average capital invested in business.
2. Twelve and half percent of the amount by which net income exceeds 6% of stockholders’ equity.
3. Twelve percent of net earnings after deducting 6% of net capital.
Individual Awards: The third task is deciding the actual individual awards. Typically, a target bonus as well as maximum amount, perhaps double the target bonus is set for each eligible position, and the actual award reflects the person’s performance. The firm computes performance ratings for each manager, computes preliminary total bonus estimates, and compares the total amount of money required with the bonus fund available. If necessary, it then adjusts the individual bonus estimates.
One question is whether managers will receive bonuses based on individual performance, corporate performance, or both. The basic rule should be: outstanding managers should receive at least their target bonuses, and marginal ones should receive at best below-average awards. Firms usually tie top-level executive bonuses to overall corporate results or divisional results if the executive heads a major division. But as one moves farther down the chain of command, corporate profit become a less accurate gauge of a manager’s contribution. Supervisors or the heads of functional departments, it often makes more sense to tie the bonus to individual performance.
Many firms tie short term bonuses to both organizational and individual performance. Perhaps the simplest way is the split-award method, which breaks the bonus into two parts. Here the manager actually gets two separate bonuses, one based on his or her individual effort and one based on the organization’s overall performance. Thus, a manager might be eligible for an individual performance bonus of up to $10,000, but receive only $2,000 at the end of the year, based on his or her individual performance evaluation. But the person might also receive a second bonus of $3,000 based on the firm’s profits for the year. Give the money you save from the poor performers to the outstanding ones.
One drawback to this approach is that it may give marginal performers too much – for instance, someone could get a company-based bonus, even if his or her open performance is mediocre. One way to get around this is to use the multiplier method. In other words, make the bonus a product of both individual and corporate performance. A manager whose own performance is poor does not even receive the company-based bonus.
Individual Awards: The third task is deciding the actual individual awards. Typically, a target bonus as well as maximum amount, perhaps double the target bonus is set for each eligible position, and the actual award reflects the person’s performance. The firm computes performance ratings for each manager, computes preliminary total bonus estimates, and compares the total amount of money required with the bonus fund available. If necessary, it then adjusts the individual bonus estimates.
One question is whether managers will receive bonuses based on individual performance, corporate performance, or both. The basic rule should be: outstanding managers should receive at least their target bonuses, and marginal ones should receive at best below-average awards. Firms usually tie top-level executive bonuses to overall corporate results or divisional results if the executive heads a major division. But as one moves farther down the chain of command, corporate profit become a less accurate gauge of a manager’s contribution. Supervisors or the heads of functional departments, it often makes more sense to tie the bonus to individual performance.
Many firms tie short term bonuses to both organizational and individual performance. Perhaps the simplest way is the split-award method, which breaks the bonus into two parts. Here the manager actually gets two separate bonuses, one based on his or her individual effort and one based on the organization’s overall performance. Thus, a manager might be eligible for an individual performance bonus of up to $10,000, but receive only $2,000 at the end of the year, based on his or her individual performance evaluation. But the person might also receive a second bonus of $3,000 based on the firm’s profits for the year. Give the money you save from the poor performers to the outstanding ones.
One drawback to this approach is that it may give marginal performers too much – for instance, someone could get a company-based bonus, even if his or her open performance is mediocre. One way to get around this is to use the multiplier method. In other words, make the bonus a product of both individual and corporate performance. A manager whose own performance is poor does not even receive the company-based bonus.
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SALES REPRESENTATIVE AGREEMENT
SALES REPRESENTATIVE AGREEMENT
Sales Representative agrees to:
1. Represent and sell the Company's ______________________ products / services in the geographic area of _____________________________________________________.
2. Accurately represent and state Company policies to all potential and present customers.
3. Promptly mail in all leads and orders to the Company.
4. Inform the sales manager of all problems concerning Company customers within the sales territory.
5. Inform the sales manager if the Sales Representative is representing, or plans to represent any other business firm. In no event shall sales representative represent a competitive company or product line either within or outside the designated sales area.
6. Telephone the Company with reasonable frequency to discuss sales activity within the territory.
7. Provide company with 30-days notice should the Representative intend to terminate this agreement.
8. Return promptly all materials and samples provided by the Company to the Representative if either party terminates this agreement.
The Company Agrees to:
1. Pay the following commissions to the Sales Representative:
(a) _________ percent of all prepaid sales, except as stated in (4) below.
(b) _________ percent of all credit sales, except as stated in (4) below.
2. To negotiate in advance of sale the commission percentage to be paid on all orders that the Company allows a quantity discount or other trade concession.
3. Commissions on refunds to customers or merchandise returned by the customer in which a commission has already been paid to the Representative shall be deducted from future commissions to be paid to the Representative by the Company.
4. Except by special arrangement, the following shall not be commissioned: _____________________________________________________
5. To provide the Sales Representative with reasonable quantities of business cards, brochures, catalogs, and any product samples required for sales purposes.
6. To set minimum monthly quotas after consultation with the Sales Representative.
7. To grant Representative 30-days' notice should the Company wish to terminate this agreement.
8. To pay commissions to the Representative on sales from existing customers for a period of _______________ months after this agreement is terminated by either party.
This constitutes the entire agreement.
This agreement shall be binding upon the parties and their successors and assigns.
Signed this _____ day of _______________ , _____.
______________________________ Company
______________________________ Sales Representative
Warning:
These
forms are provided AS IS. They may not be any good. Even if they are
good in one jurisdiction, they may not work in another. And the facts of
your situation may make these forms inappropriate for you. They are for
informational purposes only, and you should consult an attorney before
using them.
