Dear Amit,
You have got many reviews and suggestion from members. I would like to add the below:-
1 As I suggested, pls release some amount which is enough for distributing the salary. Holding only 5% is not enough. Bcoz may be agency refused to even distribute the salary. Though they have submitted u the PF-ESI challan, but it is not confirmed that security staff deployed at your bank are covered under the challan or not.
(can be confirmed only after checking the ECR and challan altogether). Since it is new contract may be they have not deposited the PF-ESI. Being a PE, lastly you will be hold responsible for the compliances.
2 I would not suggest to change the agency. Since you are following DGR rules. If the agency is also complying DGR standards in r/o other site, that indicates the agency is not any ordinary one. You need to handle the situation with some techniques and strategy. Dont give them much scope, so that the agency escaped and leave the liability on you. But paralally dont HOLD/Deduct that much amount which make them unable to operate day to day operational activities.
3 Call upon persons from Marketing and F&A Team to discuss the matter. Convince them about the compliances. Always Hold one month payment. If they have much shortage of fund release the payment agst submission of BG.
4. I am giving below a format, pls compare the quotation with the contents and ask the agency to provide the proof accordingly on monthly basis.
1 Basic
2 D.A
3 Total (A)=(1+2)
4 Washing allowance
5 (Total B)=(3+4)
6 PF @ 13.36% (On Total A)
7 ESIC @ 4.75% (On Total A)
8 Total (C )=(5+6+7)
9 Reliever Charges @ 16.67% or 1/6th (Weekly off) on wages part (Total B)
10 ESIC @ 4.75% on Reliever
11 Total (D)=(9+10)
12 Service Charges @ ===
13 Total (E)-(11+12)
5 At the end if after doing all the above effort the agency is not working as per your requirement, process to release new tender.
But give them adequate notice period (01 month). Before choosing the L1, pls check all the contents regarding Compliances, Welfare, Payment Terms etc.
You have got many reviews and suggestion from members. I would like to add the below:-
1 As I suggested, pls release some amount which is enough for distributing the salary. Holding only 5% is not enough. Bcoz may be agency refused to even distribute the salary. Though they have submitted u the PF-ESI challan, but it is not confirmed that security staff deployed at your bank are covered under the challan or not.
(can be confirmed only after checking the ECR and challan altogether). Since it is new contract may be they have not deposited the PF-ESI. Being a PE, lastly you will be hold responsible for the compliances.
2 I would not suggest to change the agency. Since you are following DGR rules. If the agency is also complying DGR standards in r/o other site, that indicates the agency is not any ordinary one. You need to handle the situation with some techniques and strategy. Dont give them much scope, so that the agency escaped and leave the liability on you. But paralally dont HOLD/Deduct that much amount which make them unable to operate day to day operational activities.
3 Call upon persons from Marketing and F&A Team to discuss the matter. Convince them about the compliances. Always Hold one month payment. If they have much shortage of fund release the payment agst submission of BG.
4. I am giving below a format, pls compare the quotation with the contents and ask the agency to provide the proof accordingly on monthly basis.
1 Basic
2 D.A
3 Total (A)=(1+2)
4 Washing allowance
5 (Total B)=(3+4)
6 PF @ 13.36% (On Total A)
7 ESIC @ 4.75% (On Total A)
8 Total (C )=(5+6+7)
9 Reliever Charges @ 16.67% or 1/6th (Weekly off) on wages part (Total B)
10 ESIC @ 4.75% on Reliever
11 Total (D)=(9+10)
12 Service Charges @ ===
13 Total (E)-(11+12)
5 At the end if after doing all the above effort the agency is not working as per your requirement, process to release new tender.
But give them adequate notice period (01 month). Before choosing the L1, pls check all the contents regarding Compliances, Welfare, Payment Terms etc.