A Study on Social Security Schemes in Selected Non Banking Financial Companies

This paper explores satisfaction level of employees’ on social security schemes provided by Non Banking Financial Companies and also to study what extend these schemes helps to improve standard of living, motivation level, reducing the risk factor and cost burden of the employees’. The researcher has chosen selected NBFCs such as Equitas Finance Ltd., Cholamandalam Investment and Finance company Ltd.,
Magma Fincorp Ltd., HDB financial Service Company Ltd., in Chennai city. The primary data are collected from employees through structured questionnaire. The researcher has used simple random sampling method for collecting data from 90 respondents. The study revealed that employees are satisfied with medical facilities, maternity benefits and accidents benefits and its promotes standard of living, maintenance of
dependency, motivation of employee and lesser positive impact on protection from risk factors and reducing
cost burden. The study suggested that NBFCs need to concentrate other factor which has lesser impact and
also to improve sickness benefits, retirement benefits and staff welfare funds.