Dear Dee,
Understanding of statutory compliance, though neglected, is important to know. The reason is non compliance leads to penal action.
First thing is to find out whether the organization falls in the purview of Factories act (mostly manufacturing companies) or Shop & establishment act (ITES companies).
Once you have ascertained this, go through the major acts like PF, Gratuity, Bonus, ESI, Contract labour etc, (in fact these are enough).
PF - You must be aware that the employer is obliged to deposit PF on a monthly basis; also the employer is required to submit monthly returns like form 5 and 10 pertaining to member joining or leaving. Then there is the annual return.
Gratuity - The act requires the employer to pay gratuity to all employee completing 5 years but a few know that an important thing is gratuity nomination form that the employee must fill at the time of joining (it saves a lot of trouble in case of the death of the employee)
Bonus - Now that the limit has been jacked up to 10000/- you have more employees coming in the coverage for bonus. If you are paying bonus then register for bonus is to be maintained.
ESI - All employees drawing less than 10001 are covered under ESI act and are to be insured under the act. The contribution (employee 1.75% and employer 4.75%) is to be deposited monthly. A six monthly return is to be complied also a monthly return with form 3 and 1 (nomination and declaration) is to be submitted with the ESI department every month.
Contract act - If you are engaging any contract labour (security cafeteria, house keeping etc), you will have to register your organization under the act and comply with the provisions.
You may choose to out source the same to a consultant but must make sure a timely compliance else occupier or the manager of the establishment will have to face penal action in no case the consultant will be held liable for non compliance.
Hope this will of help
Best wishes,
Sunil Joshi
PGCHRM - XLRI