APEC Kolath pride themselves on being an enlightened employer providing additional facilities for their employees such as residential accommodation, a subsidised health centre and workplace nursery. These facilities are considered an important way to attract works as many of them are rural-urban migrants, a number of whom are unable to read or write. Many workers tend to remain with APEC Kolath for 2-3 years until they have made enough money to return to their home villages. However, because of this relatively short timescale expenditure on education, training and risk assessments are considered unnecessary.
There is a clause in all contracts that states employment terms can be changed by putting a notice on the noticeboard in the factory. The clause says “with immediate effect” but the company generally gives 2 days’ notice.
Pension contributions are made for the Senior Management team. No pensions are supported for shop floor workers or middle management.
Pension Plans
2021 | 2020 | 2019 | |
Fund Assets | 316,000 | 434,600 | 434,600 |
Plan Obligations | 430,100 | 411,000 | 410,800 |
Percent Funded | 73% | 110% | 106% |
Post-Retirement Benefit Plans
2021 | 2020 | 2019 | |
Fund Assets | 101,000 | 140,000 | 130,200 |
Plan Obligations | 184,300 | 177,300 | 181,800 |
Percent Funded | 55% | 79% | 72% |
Leave a Reply
You must be logged in to post a comment.