Dear Soniya,
The Statutory Compliances ia a vast thing, being an HR Professional you should know the basic points.
You have not specified No. of employees in your company. The Law switch to high gear as and when the No. of Employees exceeds to certain levels.
The structure and nature of Industry also affects the area of compliances.
Though u should hire a consultants for such kind of things, anyhow there is lot of expertise in the forum for Statutory Compliance, soon you will get lot of suggestions. Pls find the abstract from misc. acts from my part:
EPF:-
It is applicable on every organisation having 20 or more employee. (Voluntree option is also available for less than 20 as well).
EPF is deducted from employee salary @ 12% of Basic + DA. same contribution made from Employer. But the employe contribution is being deposited in two parts 1) Pension Fund @ 8.33% (maximum Rs. 1250/- & 2) The difference amount of Empl. contribution comes in EPF. Earlier it was difficult to calculate, but now everything has turned to Online, so it is easy to upload and deposit the challan (if you have clear salary data).
Challan is deposited under Heads A/c No. 01, 10, 2, 21 & 22. The different heads denotes different fields (you will get auto % online).
As per Rule PF can be deducted on salary upto Rs. 15000/-. But if both (empl. and empr.) are agree same can be deducted and deposited on higher salary as well.
The employee can withdraw his fund after leaving the job.
ESI:-
ESI is deducted from employee gross salary (including OT) @ 1.75% Employer Contribution is @ 4.75%.
ESI is a not refundable scheme it provides medical facility. Employee get medical cards from ESI thru which they
(Employee & his/her familty member) can get medical treatment.
There is Pension scheme as well in case the member get disability from accident/injury during working hour.
Minimum Wages Act:
Each state has defined minimum wages thru its notification/s. You can not pay salary less than the minimum wages.
Moreover you have to comply the difference category of Minimum Wages (Basic, DA, HRA, etc.) as applicable in the State Jurisdiction.
Payment of Wages Act: I have not gone thru this act very deeply, but it should be like, salary whould be paid on or before 07th of every month. Weekly off should be given to employees, salary should be transfer to Bank a/cs thru ECS or cheque should be issued. etcccc.
Gratuity Act:- Every factory, mine, oil field, plantation, port, railways, company, shop, establishment or educational institutions employing 10 or more employees. On rendering of 5 years’ service it is due. pybl @ 15 days’ wages (last drawn) for every completed year as if the month comprises of 26 days.
Maternity Act:- Women indulging temporary of unmarried are eligible for maternity benefit when she is expecting a child and has worked for her employer for at least 80 days in the 12 months immediately proceeding the date of her expected delivery.
Leave with average pay for six weeks before the delivery.
Leave with average pay for six weeks after the delivery.
An additional leave with pay up to one month if the woman shows proof of illness due to the pregnancy, delivery, miscarriage, or premature birth.
In case of miscarriage, six weeks leave with average pay from the date of miscarriage.
If the women is covered under ESI, the facility provided by ESIC dept.
Bonus Act:- Every factory where in 10 or more persons are employed with the aid of power or
An establishment in which 20 or more persons are employed without the aid of power on any day during an accounting year. Salary or wages includes D.A. but not-OT, HRA, incentive or comm. Paid @ 8.33% of the wages drawn during the year.
Hope you will find the above as per requirement, if anything you need in depth/specific point, pls put your querry.
The experience fellow members will clarify the same to the best of their knowledge area.