Introduction to Social Security Spirit of HR.in

SOCIAL SECURITY Investment which will fetch good returns in long run. It will cover some risks and contingencies which a person cant afford from the limited resources Security that protects against the risks Social Justice & Equality Eg: Protection Against Industrial Accidents

Improve Quality of Life Induce Confidence in them SOCIAL SECURITY – WHY??? Improve Quality of Life Induce Confidence in them Motivates the employees Benefit in long run Provide social and economic justice Manage the goodwill

Social Security – How??? SOCIAL INSURANCE SOCIAL ASSISTANCE

SOCIAL INSURANCE Concept of GROUP CONTRIBUTION by both employees & employer Giving return in contribution Cover the risks & contingencies which an employee faces ESI Act Maternity Benefit Act Provident Fund Act Gratuity Act Workmen compensation Act

SUPPORT BY THE STATE( GOVT) towards the employees SOCIAL ASSISTANCE SUPPORT BY THE STATE( GOVT) towards the employees Financed by the state

Features of Social Security Enhance the moral of the employees Covers a wide range of welfare services and health security Measures should ensure protection against common risks of employment Provide monetary benefits to the employees Help the employees during contingencies such as work injury, industrial diseases, old age, widowhood, orphanhood etc.

Characteristics/ Features of Social Security Equity Justice Risk Coverage Acceptable Lawful Attractive

AGENCIES ENGAGED in Welfare and Security Employers – TA, HRA, LTA Central Govt – PF & GRATUITY State Govt - ESI Trade Unions – Better Working conditions, Wage Hikes Charitable organisations – Medical, Legal & Educational Help

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