Worcester Business School

APEC Kolath – Employee Benefits

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 

  2024 2023 2022 
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 

  2024 2023 2022 
Fund Assets 101,000 140,000 130,200 
Plan Obligations 184,300 177,300 181,800 
Percent Funded 55% 79% 72% 


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