Do I Hire People On Purely Annual Contractual Basis - New Pvt Ltd Company

- Pvt Ltd Company based in Gurgaon, Haryana. Going to employ around 15-20 people in middle to senior levels of the company.

I am not very clear on the concepts of labor laws applicable to my type of industry (Service). Do I hire people on a purely annual contractual basis? Do I still have to maintain PF, GF, Bonus, or any such formalities for employees on contract? I would like to get an idea of what the most basic legalities are that I, as an employer, need to adhere to!

Please furnish the proposed service or nature of service provided. What do you mean by GF? The question of payment of bonus does not arise without the generation of a single balance sheet. As an employer, you are required to provide factual information to conclude. Based on hypothetical or incorrect information, it is very difficult to come to a conclusion.

You have not provided complete information required to express the opinion to help you.

You can appoint on an annual fixed-term contract basis. But all labor laws will apply subject to conditions therein. Nowadays, courts consider artificial breaks of contract by employers also as service.