Fix Your Salary under 8th Pay Scale BD, 2015

Posted by Ripon Abu Hasnat on Thursday, December 17, 2015 | 0 comments | Leave a comment...

Moving away from the paper-based lengthy system of updating employees’ salaries, this year the government has decided to carry out the “Pay Fixation” process through online forms.

The public servants have been told that their salaries will not be updated under the upcoming 8th pay scale unless they input their national identity (NID) card numbers in the online form.

The circular says that this new system will be launched immediately after a gazette notification is published for the 8th pay scale, slated to be implemented in a few months’ time.

Until now, every time there has been a new pay scale, public servants had to get their salaries updated by filling up and submitting printed forms to the Office of the Comptroller and Auditor General of Bangladesh.

You can fix your salary by using this Website. To fix your salary you have careful about this. When you will go to fill up the pay fixation form, you ensure that the following documents and information are available:

1.    National ID
2.    Joining Date, Division/Department and Designation
3.    Your Grade, Scale and Basic Salary as on 30.06.2015
4.    Selection and Time Scale Information (If any)
5.    Printing Option.

Salary Fixation System based on 8th Pay Scale provided by Bangladesh Govt. 2015 are discussed in Bangla below:

অনলাইনে বেতন নির্ধারণী ওয়েবসাইটটি ব্যবহার করে সরকারি কর্মচারীগণ অনলাইনে হিসাবরক্ষণ কার্যালয়ে বেতন নির্ধারণী ফরম দাখিল করতে পারবেন। হিসাবরক্ষণ কার্যালয় নতুন জাতীয় বেতনস্কেল ২০১৫ অনুযায়ী দাখিলকৃত তথ্যাদি যাচাই/প্রতিপাদনকপূর্বক বেতন নির্ধারণ চূড়ান্ত করবেন। ১৭ ডিসেম্বর ২০১৫ তারিখ (বৃহস্পতিবার) বেলা ২:০০ ঘটিকা থেকে ওয়েবসাইটটি উন্মুক্ত হবে। বেতন নির্ধারণ কার্যক্রম সম্পন্ন করার জন্য কোন সময়সীমা বেঁধে দেয়া নেই। কাজেই, তাড়াহুড়ো করতে গিয়ে ভুল না করে সময় নিয়ে ধীর-স্থিরভাবে বেতন নির্ধারণের কাজটি সম্পন্ন করুন


অনলাইনে বেতন নির্ধারণের পূর্ব প্রস্তুতি

১. জাতীয় পরিচয়পত্র
২. চাকুরীতে প্রথম যোগদানের তারিখ, দপ্তর ও পদবি সংক্রান্ত তথ্যাবলি
৩. ৩০ জুন ২০১৫ তারিখের গ্রেড/বেতন ও গৃহীত মূলবেতন সম্পর্কিত তথ্য
৪. এ পর্যন্ত প্রাপ্ত সিলেকশন গ্রেড ও টাইম স্কেল সংক্রান্ত তথ্যাদি
৫. প্রিন্ট করার ব্যবস্থা
 

Management Accounting Short Note-'Industrial sickness and its causes'

Posted by Ripon Abu Hasnat on Wednesday, December 16, 2015 | 0 comments | Leave a comment...

Industrial sickness is defined as"an industrial company which has, at the end of any financial year, accumulated losses equal to, or exceeding, its entire net worth and has also suffered cash losses in such financial year and the financial year immediately preceding such financial year".

Internal causes for sickness:


1) Lack of finance; 
2) Bad production policies; 
3) Marketing and Sickness; 
4) Inappropriate personnel management; 
5) Ineffective Corporate management

External causes for sickness:

1) Personnel Constraint; 
2) Marketing Constraint; 
3) Production Constraint; 
4) Finance Constraint;

Management Accounting Short Note-'Project Profile'

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A project profile is a simplified description of an eventual project. In addition to defining the purpose and ownership of the project, it presents a first estimate of the activities involved and the total investment that will be required, as well as the annual operating costs and, in the case of income generating projects, the annual income.


It is simplified in a number of senses; costs may still not be well defined, minor items may be excluded, and assumptions as to the demand for the output of the investment, whether it be a childcare facility, a bridge, or canned vegetables, are probably just that – assumptions.

Download the 8th Pay Scale Gazette by Bangladesh Govt.

Posted by Ripon Abu Hasnat on Tuesday, December 15, 2015 | 0 comments | Leave a comment...

8th Pay Scale Gazette by the Peoples Republic of Bangladesh will publish after few hours. You cand download this gazette from this site after publishing the gazette. Government same Government employees are facilities in this pay scale. There is no 1st class, 2nd class, 3rd and 4th class employee’s category in this 8th pay scale gazette.  




The 8th Pay Scale of Bangladesh includes Bangla Noboborsho allowances of 20% on the basic salary. The government on Sep 7 approved the new pay scale for its employees with a highest basic pay of Tk 78,000 and a minimum of Tk 8,250. The basic pay for officers and other employees would take retroactive effect from July 1 this year, while the allowances would be paid from July 1, 2016. 8th Pay Scale is so helpful for all Government and semi Government employees which will declare in 8th Pay Scale Gazette. 



You can find the 8th Pay Scale Gazette by Bangladesh Govt. from the Gazettes Archive of Finance Ministry website. To find the 8th Pay Scale Gazette visit 8th Pay Scale Gazette. If you do not find the 8th Pay Scale Gazette to download 8th Pay Scale Gazette, then puts your eye in this site.


Pay Scale 2015 (Civil)
Pay Scale 2015 (Public Bodies & Autonomous)
Pay Scale 2015 (Bank, Insurance & Financial Institutions)
Pay Scale 2015 (Police)
Pay Scale 2015 (Border Guard Bangladesh, BGB)

Discuss the Importance of Management

Posted by Ripon Abu Hasnat on Thursday, December 10, 2015 | 0 comments | Leave a comment...

1. Management helps in Achieving Group Goals:
It arranges the factors of production, assembles & organizes the resources, integrates the resources in effective manner to achieve goals. It directs group efforts towards achievement of pre-determined goals. By defining objective of Organization clearly there would be no wastage of time, money & effort. Mgt converts disorganized resources of men, machines, money etc. into useful enterprise. These resources are coordinated, directed & controlled in such a manner that enterprise work towards attainment of goals.
2. Management Ensure Optimum Utilization of Resources:
Management utilizes all the physical & human resources productively. This leads to efficacy in management. Management provides maximum utilization of scarce resources by selecting its best possible alternate use in industry from out of various uses. It makes use of experts, professional & these services leads to use of their skills, knowledge, & proper utilization & avoids wastage. If employees & machines are producing its maximum there is no under employment of any resources.
3. Management Reduces Costs:
It gets maximum results through minimum input by proper planning & by using minimum input & getting maximum output. Mgt uses physical, human & financial resources in such a manner which results in best combination. This helps in cost reduction.
4. Management Establishes Sound organization:
No overlapping of efforts (smooth & coordinated fns). To establish sound organization structure is one of the objective of mgt which is in tune with objective of organization & for fulfillment of this, it establishes effective authority & responsibility relationship i.e. who is accountable to whom, who can give instructions to whom, who are superiors & who are subordinates. Mgt fills up various positions with right persons, having right skills, training & qualification. All jobs should be cleared to everyone.

5. ManagementEstablishes Equilibrium:
It enables the Organization to survive in changing environment. It keeps in touch with the changing environment. With the change is external environment; the initial co-ordination of organization must be changed. So it adapts organization to changing demand of market / changing needs of societies. It is responsible for growth & survival of organization.
6. Management Essentials for Prosperity of Society:
Efficient mgt leads to better economical production, which helps in turn to increase the welfare of people. Good mgt makes a difficult task easier by avoiding wastage of scarce resource. It improves standard of living. It increases the profit, which is beneficial to business, & society will get maximum output at minimum cost by creating employment opportunities which generate income in hands. Organization comes with new products & researches beneficial for society.

Explain the Objectives of Management

Posted by Ripon Abu Hasnat on Wednesday, December 9, 2015 | 0 comments | Leave a comment...

1. Getting Maximum Results with Minimum Efforts:
The main objective of management is to secure maximum outputs with minimum efforts & resources. management is basically concerned with thinking & utilizing human, material & financial resources in such a manner that would result in best combination. This combination results in reduction of various costs.

2. Increasing the Efficiency of factors of Production:
Through proper utilization of various factors of production, their efficiency can be increased to a great extent which can be obtained by reducing spoilage, wastage & breakage of all kinds, this in turn leads to saving of time, effort & money which is essential for the growth & prosperity of the enterprise.

3. Maximum Prosperity for Employer & Employees:
Management ensures smooth & coordinated functioning of the enterprise. This in turn helps in providing maximum benefits to the employee in the shape of good working condition, suitable wage system, incentive plans on the one h& & higher profits to the employer on the other h&.

4. Human betterment & Social Justice:
Management serves as a tool for the upper lift men as well as betterment of the society. Through increased productivity & employment, mgt ensures better standards of living for the society. It provides justice through its uniform policies.

Law Short Notes on Risk-Weighted Asset

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Risk-weighted asset is a bank's assets weighted according to credit risk. Some assets, such as debentures, are assigned a higher risk than others, such as cash or government securities/bonds. Since different types of assets have different risk profiles, weighing assets based on the level of risk associated with them primarily adjusts for assets that are less risky by allowing banks to "discount" lower-risk assets.
This sort of asset calculation is used in determining the capital requirement or Capital Adequacy Ratio (CAR) for a financial institution, and is regulated by the Local Central Banks or other National financial regulators. The specifics of CAR calculation vary from country to country, but general approaches tend to be similar for countries that apply the Basel Accords. In the most basic application, government debt is allowed a 0% "risk weighting" - that is, they are subtracted from total assets for purposes of calculating the CAR.

Law Short Notes on Treasury Bills

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Treasury Bills issued by the government as an important tool of raising public finance and up to 1994, were of three types, although all of them were 90-day bills. Among these three types, bulk was represented by ad-hoc treasury bills issued to meet the cash balance need of the government. A second type was the 3-months treasury bills on tap introduced in August 1972 and their purpose was to mop up the excess liquidity of banks. 
 
The third type was the 3-months treasury bills introduced for subscription exclusively by the non-bank financial institutions, non-financial enterprises and the public.Initially, a limit of Tk 250 million was set for the issue of such treasury bills. Later this limit was withdrawn and Bangladesh Bank was empowered to issue any amount of treasury bills for the non-bank public. Despite the withdrawal of the limit, the holdings of non-banking sectors remained small and commercial banks comprised the main market for the treasury bills. These bills continued to be reissued in every ninety days. In December 1994, however, treasury bills on tap and the treasury bills for nonbanks were abolished.

The holdings of treasury bills by the deposit money banks generally did not exceed the amount needed to meet the liquidity requirement. A substantial part of the treasury bills issued, therefore, needed to be held by Bangladesh Bank. Of the total Treasury bill holdings, the amount of holdings by the deposit money banks was 57% at the end of 1973 and amidst fluctuation, they came down to 27% at the end of June 1982. Later, the share started to rise and stood at 68% at the end of 1992. Thereafter, it fell sharply and came down to a lowest minimum of 4% at the end of June 1995.

Law Short Notes on mutual fund

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A mutual fund is a professionally managed type of collective investment scheme that pools money from many investors and invests typically in investment securities (stocks, bonds, short-term money market instruments, other mutual funds, other securities, and/or commodities such as precious metals). The mutual fund will have a fund manager that trades (buys and sells) the fund's investments in accordance with the fund's investment objective. It is registered in Securities and Exchange Commission.
Mutual funds raise money by selling shares of the fund to the public, much like any other type of company can sell stock in itself to the public. Mutual funds then take the money they receive from the sale of their shares (along with any money made from previous investments) and use it to purchase various investment vehicles, such as stocks, bonds and money market instruments. In return for the money they give to the fund when purchasing shares, shareholders receive an equity position in the fund and, in effect, in each of its underlying securities.

For most mutual funds, shareholders are free to sell their shares at any time, although the price of a share in a mutual fund will fluctuate daily, depending upon the performance of the securities held by the fund.

Benefits of mutual funds include diversification and professional money management. Mutual funds offer choice, liquidity, and convenience, but charge fees and often require a minimum investment.

Law Short Notes on credit card

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A credit card is a small plastic card measuring about 85 mm by 54 mm bearing the name, date, computer number and specimen signature of the holder and the validity with raised letters to facilitate machine readability issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services. 

The issuer of the card creates a revolving account and grants a line of credit to the consumer (or the user) from which the user can borrow money for payment to a merchant or as a cash advance to the user. Usage of the term "credit card" to imply a credit card account is a metonym.

As per instruction given in the application form or later on in writing, the credit card issuing authority will dispatch the periodic bill to the card holder and realize the bill amount from his account as instructed earlier. In other way, the card holder may pay the periodic bill in cash or by cheque within specific period. If not paid within the grace free specific period, profit or interest or service charge on the bill amount will be charged before full payment of the bill amount.

Discuss the steps involve in Training program

Posted by Ripon Abu Hasnat on Tuesday, December 8, 2015 | 0 comments | Leave a comment...

Training program involves the following steps:
 
1. Identifying the training needs- The training needs of each employee should be identified. Programs should be developed that are best suited to their needs.

2. Prepare the trainer- The trainer must do his home work well. He should know both what to teach & how to teach. Time mgt is required by the trainer. Training should be delivered in such a manner that the trainee should not lose the interest in the job.
3. Prepare the trainee- The trainee should remain active during training. He should know that why is he being trained. He should put across the trainer questions & doubts. The trainee should be put at ease during the training program.

4. Explain & demonstrate the operations- The trainer should explain the logical sequence of the job. The trainee should perform the job systematically & explain the complete job he is performing. His mistakes should be rectified & the complex step should be done for him once. When the trainee demonstrates that he can do the job in right manner, he is left to himself. Through repetitive practices, the trainee acquires more skill.

5. Follow up & feedback- The trainee should be given feedback on how well he performed the job. He should be asked to give a feedback on the effectiveness of training program.

Authority and responsibility are one and the same thing. Discuss.

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Authority and responsibility is not the same thing. The difference between these two is as follows:

RESPONSIBILITY:
Responsibility is the obligation to accomplish the goals related to the position and the organization. Managers, at no matter what level of the organization, typically have the same basic responsibilities when it comes to managing the work force: Direct employees toward objectives, oversee the work effort of employees, deal with immediate problems, and report on the progress of work to their superiors. Managers’ primary responsibilities are to examine tasks, problems, or opportunities in relationship to the company’s short-and long-range goals. They must be quick to identify areas of potential problems, continually search for solutions, and be alert to new opportunities and ways to take advantage of the best ones. How effectively goals and objectives are accomplished depends on how well the company goals are broken down into jobs and assignments and how well these are identified and communicated throughout the organization.

AUTHORITY:
Authority is seen as the legitimate right of a person to exercise influence or the legitimate right to make decisions, to carry out actions, and to direct others. For example, managers expect to have the authority to assign work, hire employees, or order merchandise and supplies. As part of their structure, organizations have a formal authority system that depicts the authority relationships between people and their work. Different types of authority are found in this structure: line, staff, and functional authority. Line authority is represented by the chain of command; an individual positioned above another in the hierarchy has the right to make decisions, issue directives, and expect compliance from lower-level employees. Staff authority is advisory authority; it takes the form of counsel, advice, and recommendation. People with staff authority derive their power from their expert knowledge and the legitimacy established in their relationships with line managers. Functional authority allows managers to direct specific processes, practices, or policies affecting people in other departments; functional authority cuts across the hierarchical structure. For example, the human resources department may create policies and procedures related to promoting and hiring employees throughout the entire organization. Authority can also be viewed as arising from interpersonal relationships rather than a formal hierarchy. Authority is sometimes equated with legitimate power. Authority and power and how these elements are interrelated can explain the elements of managing and their effectiveness.

What is critical is how subordinates perceive a manager’s legitimacy. Legitimate authority occurs when people use power for good and have acquired power by proper and honest means. When people perceive an attempt at influence as legitimate, they recognize it and willingly comply. Power acquired through improper means, such as lying, withholding information, gossip, or manipulation, is seen as illegitimate. When people perceive the authority of others as illegitimate, they are less likely to willingly comply.

Ways/ Methods of Training

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Training is generally imparted in two ways:

1. On the job training- On the job training methods are those which are given to the employees within the everyday working of a concern. It is a simple and cost-effective training method. The in proficient as well as semi- proficient employees can be well trained by using such training method.
The employees are trained in actual working scenario. The motto of such training is “learning by doing.” Instances of such on-job training methods are job-rotation, coaching, temporary promotions, etc.

2. Off the job training- Off the job training methods are those in which training is provided away from the actual working condition. It is generally used in case of new employees.

Instances of off the job training methods are workshops, seminars, conferences, etc. Such method is costly and is effective if and only if large number of employees have to be trained within a short time period. Off the job training is also called as vestibule training i.e., the employees are trained in a separate area( may be a hall, entrance, reception area etc. known as a vestibule) where the actual working conditions are duplicated.

Advantages of Performance Appraisal

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It is said that performance appraisal is an investment for the company which can be justified by following advantages:
 
1. Promotion:
Performance Appraisal helps the supervisors to chalk out the promotion programs for efficient employees. In this regards, inefficient workers can be dismissed or demoted in case.

2. Compensation:
Performance Appraisal helps in chalking out compensation packages for employees. Merit rating is possible through performance appraisal. Performance Appraisal tries to give worth to a performance. A compensation package which includes bonus, high salary rates, extra benefits, allowances and pre-requisites are dependent on performance appraisal. The criteria should be merit rather than seniority.

3. Employees Development:
The systematic procedure of performance appraisal helps the supervisors to frame training policies and programs. It helps to analyze strengths and weaknesses of employees so that new jobs can be designed for efficient employees. It also helps in framing future development programs.

4. Selection Validation:
Performance Appraisal helps the supervisors to understand the validity and importance of the selection procedure. The supervisors come to know the validity and thereby the strengths and weaknesses of selection procedure. Future changes in selection methods can be made in this regard.

5. Communication:
For an organization, effective communication between employees and employers is very important. Through performance appraisal, communication can be sought for in the following ways:

a. Through performance appraisal, the employers can understand and accept skills of subordinates.

b. The subordinates can also understand and create a trust and confidence in superiors.

c. It also helps in maintaining cordial and congenial labour management relationship.

d. It develops the spirit of work and boosts the morale of employees.

All the above factors ensure effective communication.

6. Motivation:
Performance appraisal serves as a motivation tool. Through evaluating performance of employees, a person’s efficiency can be determined if the targets are achieved. This very well motivates a person for better job and helps him to improve his performance in the future.

Define Performance Appraisal with its objectives

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Performance Appraisal is the systematic evaluation of the performance of employees and to understand the abilities of a person for further growth and development. Performance appraisal is generally done in systematic ways which are as follows:
 
1. The supervisors measure the pay of employees and compare it with targets and plans.
 
2. The supervisor analyses the factors behind work performances of employees.
 
The employers are in position to guide the employees for a better performance.

Objectives of Performance Appraisal
Performance Appraisal can be done with following objectives in mind:
1. To maintain records in order to determine compensation packages, wage structure, salaries raises, etc.

2. To identify the strengths and weaknesses of employees to place right men on right job.

3. To maintain and assess the potential present in a person for further growth and development.

4. To provide a feedback to employees regarding their performance and related status.

5. To provide a feedback to employees regarding their performance and related status.

6. It serves as a basis for influencing working habits of the employees.

7. To review and retain the promotional and other training programs.

Discuss different Types of Organization Culture

Posted by Ripon Abu Hasnat on Monday, December 7, 2015 | 0 comments | Leave a comment...

The practices, principles, policies and values of an organization form its culture. The culture of an organization decides the way employees behave amongst themselves as well as the people outside the organization.

Let us understand the various types of organization culture:

Normative Culture:
In such a culture, the norms and procedures of the organization are predefined and the rules and regulations are set as per the existing guidelines. The employees behave in an ideal way and strictly adhere to the policies of the organization. No employee dares to break the rules and sticks to the already laid policies.

Pragmatic Culture:
In a pragmatic culture, more emphasis is placed on the clients and the external parties. Customer satisfaction is the main motive of the employees in a pragmatic culture. Such organizations treat their clients as Gods and do not follow any set rules. Every employee strives hard to satisfy his clients to expect maximum business from their side.

Academy Culture:
Organizations following academy culture hire skilled individuals. The roles and responsibilities are delegated according to the back ground, educational qualification and work experience of the employees. Organizations following academy culture are very particular about training the existing employees. They ensure that various training programmes are being conducted at the workplace to hone the skills of the employees. The management makes sincere efforts to upgrade the knowledge of the employees to improve their professional competence. The employees in an academy culture stick to the organization for a longer duration and also grow within it. Educational institutions, universities, hospitals practice such a culture.

Baseball team Culture:
A baseball team culture considers the employees as the most treasured possession of the organization. The employees are the true assets of the organization who have a major role in its successful functioning. In such a culture, the individuals always have an upper edge and they do not bother much about their organization. Advertising agencies, event management companies, financial institutions follow such a culture.

Club Culture:
Organizations following a club culture are very particular about the employees they recruit. The individuals are hired as per their specialization, educational qualification and interests. Each one does what he is best at. The high potential employees are promoted suitably and appraisals are a regular feature of such a culture.

Fortress Culture:
There are certain organizations where the employees are not very sure about their career and longevity. Such organizations follow fortress culture. The employees are terminated if the organization is not performing well. Individuals suffer the most when the organization is at a loss. Stock broking industries follow such a culture.

Tough Guy Culture:
In a tough guy culture, feedbacks are essential. The performance of the employees is reviewed from time to time and their work is thoroughly monitored. Team managers are appointed to discuss queries with the team members and guide them whenever required. The employees are under constant watch in such a culture.

Bet your company Culture:
Organizations, which follow, bet your company culture take decisions which involve a huge amount of risk and the consequences are also unforeseen. The principles and policies of such an organization are formulated to address sensitive issues and it takes time to get the results.

Process Culture:
As the name suggests the employees in such a culture adhere to the processes and procedures of the organization. Feedbacks and performance reviews do not matter much in such organizations. The employees abide by the rules and regulations and work according to the ideologies of the workplace. All government organizations follow such a culture.

Differences between Leadership and Management

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Leadership differs from management in a sense that:

1. While managers lay down the structure and delegates authority and responsibility, leaders provides direction by developing the organizational vision and communicating it to the employees and inspiring them to achieve it.

2. While management includes focus on planning, organizing, staffing, directing and controlling; leadership is mainly a part of directing function of management. Leaders focus on listening, building relationships, teamwork, inspiring, motivating and persuading the followers.
3. While a leader gets his authority from his followers, a manager gets his authority by virtue of his position in the organization.

4. While managers follow the organization’s policies and procedure, the leaders follow their own instinct.

5. Management is more of science as the managers are exact, planned, standard, logical and more of mind. Leadership, on the other hand, is an art. In an organization, if the managers are required, then leaders are a must/essential.

6. While management deals with the technical dimension in an organization or the job content; leadership deals with the people aspect in an organization.

7. While management measures/evaluates people by their name, past records, present performance; leadership sees and evaluates individuals as having potential for things that can’t be measured, i.e., it deals with future and the performance of people if their potential is fully extracted.

8. If management is reactive, leadership is proactive.

9. Management is based more on written communication, while leadership is based more on verbal communication.
The organizations which are over managed and under-led do not perform upto the benchmark.

Leadership accompanied by management sets a new direction and makes efficient use of resources to achieve it. Both leadership and management are essential for individual as well as organizationalsuccess.

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