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Personnel management  can be defined as obtaining, using and maintaining a satisfied workforce. It is a significant part of management concerned with employees at work and with their relationship within the organization. According to Brech, “Personnel Management is that part which is primarily concerned with human resource of organization.” Nature of Personnel Management Personnel management includes the function of employment, development and compensation- These functions are performed primarily by the personnel management in consultation with other departments. Personnel management is an extension to general management. It is concerned with promoting and stimulating competent work force to make their fullest contribution to the concern. Personnel management exist to advice and assist the line managers in personnel matters. Therefore, personnel department is a staff department of an organization. Personnel management lays emphasize on action rather than mak...

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  Courtesy: https://meraskill.com Sl No Point Companies  Act 2013 Companies Act 1956 1 Financial Year Companies must have their financial year ending on 31 Mar every year Companies were permitted to have financial year ending on a date decide by Company 2 Formats of Financial Statement Schedule III Schedule  VI 3 Maximum No of Partners As per rules, subject to Max 100.currently is 50 . 10 in banking business and 20 in any other business. 4 Max Shareholders in Pvt Ltd Company 200 excluding past and present employees 50 excluding past and present employees 5 One Person Company (OPC) Company which has only one person (natural person) as its member Did not exist 6 Issue of Share at discount Section 53 prohibits issue of shares at a discount However, Section 54   permits issue of ESOPs to its employees at a discount. Section 79 permitted issue of shares at a discount. 8 Security Premium Reser...

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Different Institutional Setups SIPCOT - State Industries Promotion Corporation of Tamil Nadu Limited Objectives SIPCOT has rendered fruitful services to the state by identifying, developing, maintaining industrial areas in backward and most backward talukas of the State, which had potential to grow. Establish, develop, maintain and manage industrial complexes, parks and growth centres at various places across the State of Tamil Nadu. SIPCOT's role in assisting the industrialization in the State is not only quantitative but also qualitative. To ensure a good impact with the available limited resources, SIPCOT has created Industrial Complexes and Parks, strategically located in Nineteen places and Twelve Districts, which occupy a place of pride in the State's industrial map. Functions of SIPCOT The Functions of State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) are ] Development of industrial complexes/parks/industrial e...

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Small Industries Service Institute (SISIs) ·     S mall Industries Service Institute, It provides a comprehensive range of services to the small scale industrial sector in Tamil Nadu in terms of technical assistance, Economic information services, provision of workshop facilities, training and other general consultancy services.        The activities of SISI Madras cover the whole of Tamilnadu and the Union Territory of Pondicherry. ·     It has two branch SISIs at Coimbatore and Tuticorin and one Extension Centre at Pondicherry. FUNCTIONS OF SISIs I. Consultancy Services           It provides following consultancy services to the large scale industries. ·         Technical ·         Managerial ·         Marketing II. Assistance to DICs SISI assists the District In...

Security Valuation . Meaning The process of determining how much a  security  is worth. Security valuation  is highly subjective, but it is easiest when one is considering the value of tangible assets, level of debt, and other quantifiable data of the company issuing a  security . What is 'Bond Valuation'? 1. Bond valuation is a technique for determining the theoretical fair value of a particular bond. 2. Bond valuation includes calculating the present value of the bond and future interest payments. 3. Its cash flow and maturity date are plays important role in calculating bond value. 4. An investor uses bond valuation to determine what  rate of return  could be get in future. 5. A bond is a debt instrument that provides a steady income stream to the investor in the form of  coupon payments. The characteristics of a regular bond include : Coupon rate : Some bonds have an interest rate, also known as the coupon rate, w...

District Industries Centre (DIC) It is an institution know for assisting to the budding entrepreneurs in terms of fulfilling financial requirements and legal filings.   Role of DIC ·          Accelerate the overall efforts for industrialisation of the district. ·          Rural industrialisation and development of rural industries and handicrafts. ·          Attainment of economic equality in various regions of the district. ·          Providing the benefit of the government schemes to the new entrepreneurs. ·       Centralisation of procedures required to start a new industrial unit and minimisation- of the   efforts and time required to obtain various permissions, licenses, registrations, subsidies etc. ·          Acts as the focal point ...

MSME Definition: The Government of India has enacted the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006. Micro, Small and Medium enterprises were defined based on the investment level. Category Manufacturing Industries Service Industries Micro Less than 25 lakh Less than 10 lakh Small 25 L to 5 crore 10L to 2 Crore Medium 5 crore to 10 crore 2 crore to 5 crore Functional contributions of MSME 1. Creates large scale employment: Since the enterprises falling in this sector require low capital to start the business, it creates huge employment opportunities for many unemployed youth. India produces about 1.2 million graduates per year. And, there is no economy in the world that can provide jobs to so many fresh graduates in one year. MSME is the boon for many of these fresh manpower. 2. Economic stability in terms of Growth and Exports: MSME is a significant growt...