I have carried out a similar exercise about four years back when there was a boom in the BPO/ITES industries. The company is based in Chennai. I spent a month on manual preparation, taking several considerations into account. The rules, regulations, and policies can withstand changes for the next five years, but that comes with a cost.
As an entrepreneur, please invest in systems and procedures initially. This will take care of your human/systems needs, allowing you to pay more attention and focus on core areas. Please think wisely. If you get something without any cost from any resource, it is natural that it will have no value at all.
Regards,
V. Rangarajan