Dear Raghunath, after reviewing your draft, here are my observations:
Relevant rules for your company
The relevant rules in respect of your company are the Karnataka Industrial Employment (Standing Orders) Rules, 1961. Include all workmen as defined under Section 2(S) of the ID Act, 1947, to be more specific. Replace "Firm" with "Company," since your company is a Private Limited Company.
Regarding the "Transfer" clause
Will the Certifying Authority permit its inclusion in the Standing Orders? Specify or quantify the subsistence allowance (the Karnataka Subsistence Allowance Act & Rules are applicable only to establishments to whom the Standing Orders Act does not apply).
Thank you.