venkatesh838
I have formed a new PVT LTD company -started operation since nov-15,12. Total staff strength is 07, Myself and my brother are Directors. We are into fundraising . I wish to know (1) whether PF / ESI and any other such thing are compulsory. (or we can give a flat lumpsum salary). If Yes what is the ideal Salary Structurefor employees? (2) How many CL, sick leaves medical leaves etc. are compulsory to give to staff while operating as PVT LTD company?
From India, Mumbai
HR Hiral Mehta
204

Hello !!
PF is compulsory when employee strength increases above 20 (soon to become 10) & ESIC when it increases to 10. If you are planning to increase the manpower then yes, you'll have to register yourself accordingly.
Their is nothing like ideal salary structure. Companies form as per its requirement. You can have components of Gross salary like basic, hra, medical allowance, conveyance allowance, lta, special allowance etc. PF will be calculated on Basic & ESIC on Gross Salary.
Minimum leaves you need to give is 1 leave for every 20 days worked. Maximum is at company's discretion.

From India, Ahmedabad
deven_123
16

Dear Venkatesh
Rightknow you dont need to apply for PF & ESI but your in the manufacturing sector then its manadatory for your safety that u can apply for ESI PF though your strength is lesst tahn 9.
whta typr of manpower u r using its not clear but you can offer the salary atlest maintaining min wages provision.
Devendra

From India, Pune
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.





Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.