LABOUR WELFARE FACILITIES The company provides a lot of non -monitory benefits to their employees.

Some of them are as follows:1 . T r a n s p o r t a t i o n Transportation is provided to the employees to different destination points @ a subsidized rate.2 . C a n t e e n f a c i l i t i e s All the employees are given free food at Eastern

38 3.Personal Protective Equipments. Personal protective equipments like head wears; aprons anduniforms are provided to the worker.4 . M e d i c a l I n s u r a n c e . The employees are provided with medi-claim policy, which gives freemedical insurance to the employee and his/her family.5 . P e n s i o n S c h e m e . The scheme has been formulated for those employees who have retiredfrom their job.6. Annual Medical Check up.The employees are provided with free annual medical check-up7 . T o u r s a n d P i c n i c s . Tours and Picnics are conducting once in a year which increasesthe motivation and initiatives of the employees. PAYROLL PROCESSING In eastern, payroll processing is done by the process of bookRecording GRIEVANCES REDRESSAL Generally, grievances mean any factors involving wages, hours of work or condition of work environment. In Eastern, all work as a family andall workers are free to make know his superior, if he has any grievance OBJECTIVES OF FINANCIAL DEPARTMENT Financial statement are prepared by the firm. The generally accepted principle and procedure are followed to prepare these statements. The basic objectiveof financial statement is to assist decision making.1)To provide reliable financial information about economic resourcesand obligation of a business enterprises.2)To provide financial information that assist in estimating theearning potential of the enterprise.3)To provide other needed information about change in economicresources and obligation.4)To disclosed to the extent possible other information relation tothe financial statement that is relevant to statement users. FUNCTIONS OF FINANCE DEPARTMENT

46 1. To create budget among financial year.2. To record day to day financial transacti on.3. Keep and maintain financial recorded.4. Tax payment and pay of cash for other purpose

56 which is included raw materials, machine parts, and new machines.The purchase s y s t e m s t a r t s f r o m t h e i n t e n d i n t h e p r e s c r i b e d f o r m a t g i v e n b y t h e r e s p e c t i v e department according to their requirement. As per ISO the supplier of raw materialsshould be an authorised supplier. The management committe in the management review meetings gives the authorization. Purchse Department should be responsible t h e t i m e l y supply of all items required in the factory. It should all so f i n d n e w supplires, raw materials, market, comparative study of price and quality and presentmarketing scenario.Purchase means procurement of various raw materials required for production. Performance of manufacturing firm always depends on the efficieancydepartment. The various raw materials need for production are purchased by this department. The materials are purchased at right time at the right quality from theright suppliers. It results in materials are produced as per the request of the inventorycontrol selection.The main purchase office is at Ernakulam. Row material purchase from Gundar (Chilly, Coriander) Adimaly (spices), Theny(vegitable and other items). PURCHASE PROCESS Marketing department will give a statement of required material toProduction Planning and Control. Production Planning and Control will design amaterial requirement plan they will make a weekly indent for purchase. It will be given to purchase department purchase. Department will invite quotation for the abovematerial.Purchase is based on the predetermined standards specification will given tosuppliers. Before purchase sample will be received from supplires and it will be testedin the case of approved suppliers direct purchase is accepted. In the case of new

57 suppliers two trial purchase is done to text their performance, company is maintainingapproved list of suppliers payment is made with a month through bank.Purchase of machining a vehicle and its spare parts are done from Adimalyitself. Majour purchase is done through brokers spices are purchased from localmarket purchase department is always advised to keep some additional stock for emergency stock is kept in Theny ware house. STRUCTURE OF PURCHASE DEPARTMENT AGMPurchaseAssistantManagerSr.OfficersOfficers

58 The purchase department come under AGM Purchase followed by Assistant manager, Sr officers and officers