Dear seniors, I wonder if there is any law or statute or regulation that mandates that all the firms [even small scale] have to be registered under the Companies Act 1956 or any such law? By small scale, I mean sole proprietorships.
Please kindly help me with a serious case here:
There is a really small-scale proprietary publishing firm that has been running for 10+ plus years. During these 10 years, the firm had earned its license from the Registrar of Newspapers of India, which allows it to publish books, etc. However, the license expired and was not renewed. The firm had operated in a small house. No boards or anything as such.
The firm has lot of reputed public and private sector clients, including banks, FMCG companies, medical practitioners, who give advertisements in the publishing firm's books. It publishes annual religious magazines and travel guides.
The firm has only two main employees and six contract sales boys for three different cities its books are sold in. The firm's turnover is about Rs: 1, 90,000/ - to Rs: 2, 50, 000/-. It is still running but with its office in an apartment and with just one book as its product, which was its mainstay all the time.
As far as I know [considering the period I was associated with firm], the firm did not pay any commercial taxes. I was paid 3k in the beginning. I worked there for four years [October 2002-July 2007]. At the time of leaving, my salary was 7k.
I request you all to please advise me on this case. The reason I asked this question is, it is the first employer I worked for after my MBA (2002 passout) and it is not registered under the companies act. I am in the middle of the Accenture interview process. Even TCS called me for an interview. I heard that TCS does not consider work experience from unregistered companies. Why is this a problem? Everyone in this world doesn’t have a super good beginning like campus interview big companies, etc. I am one of those with a humble or low-scale career beginning.
Depending on what our experts here suggest...I can at least argue with my prospective employers in case there is no law as such. Please help me...
Awaiting your advice.
Please kindly help me with a serious case here:
There is a really small-scale proprietary publishing firm that has been running for 10+ plus years. During these 10 years, the firm had earned its license from the Registrar of Newspapers of India, which allows it to publish books, etc. However, the license expired and was not renewed. The firm had operated in a small house. No boards or anything as such.
The firm has lot of reputed public and private sector clients, including banks, FMCG companies, medical practitioners, who give advertisements in the publishing firm's books. It publishes annual religious magazines and travel guides.
The firm has only two main employees and six contract sales boys for three different cities its books are sold in. The firm's turnover is about Rs: 1, 90,000/ - to Rs: 2, 50, 000/-. It is still running but with its office in an apartment and with just one book as its product, which was its mainstay all the time.
As far as I know [considering the period I was associated with firm], the firm did not pay any commercial taxes. I was paid 3k in the beginning. I worked there for four years [October 2002-July 2007]. At the time of leaving, my salary was 7k.
I request you all to please advise me on this case. The reason I asked this question is, it is the first employer I worked for after my MBA (2002 passout) and it is not registered under the companies act. I am in the middle of the Accenture interview process. Even TCS called me for an interview. I heard that TCS does not consider work experience from unregistered companies. Why is this a problem? Everyone in this world doesn’t have a super good beginning like campus interview big companies, etc. I am one of those with a humble or low-scale career beginning.
Depending on what our experts here suggest...I can at least argue with my prospective employers in case there is no law as such. Please help me...
Awaiting your advice.