Starting a Pvt. Ltd. Firm: What Are the Compensation Rules and Appointment Letter Essentials?

We are going to start a new business. It is a Pvt. Ltd. firm, and we have a staff of 10 people. Kindly inform me about the rules for compensation in a Pvt. Ltd. firm, for example, PF, ESI, bonus, and all those rules. Also, I would like to know the style of an appointment letter.

Good evening! It will be hard to describe all the rules of PF, ESI, Bonus, and other things. I believe that your company is coming under the "Shops and Establishment Act Uttar Pradesh 1962."

Suggestions for Your Query

1. **PF:** Not applicable in your case as the number of employees is less than 20.
2. **ESIC:** Applicable on Gross Salary. 1.75% Employees' contribution & 4.75% employers' contribution.
3. **Bonus:** Not applicable in your case as the number of employees is less than 20.

For the appointment letter, you can find hundreds of formats available on this site. Just type your query in the "What Do You Need?" box.

Hope this will help. Revert if you require more information.

All the best.