Seeking HR Advice: How to Tackle Leave Policies, Salaries, and Compliance for a New Startup in Noida?

Hello Everyone, Looking for some help. As an HR consultant, I am required to work on the following aspects of a new startup firm. I appreciate your help in the same regards.

Building Leave Policy

What kind of leave policy is sufficient for a startup?

Building a Robust Performance Management System

Competitive Salary Structure for Indian Employees

Is it okay to have a simple CTC structure - Basic Pay - HRA & Special Allowance?

Mandatory Provident Fund

Is it mandatory to have PF, assuming that the millennial workforce believes in more cash at hand than long-term savings?

Best HR Service and Payroll Portal

Which is the best HR service and payroll portal that can be used to manage all employee data, etc.?

Office Space Compliance

An office space will be leased out soon - any compliances related to that which I need to follow and make a note of?

Please feel free to contribute and share your suggestions.

Thanks, Meghna

🏢 Building Leave Policy:
- Consider offering a flexible leave policy that includes a combination of sick leave, vacation leave, and any other specific leaves as per local labor laws.
- Ensure the policy is clearly communicated to all employees and is compliant with relevant regulations in India, such as the Shops and Establishments Act.

📊 Building a Robust Performance Management System:
- Develop clear performance metrics and goals aligned with the company's objectives.
- Implement regular performance reviews and feedback sessions to track progress and provide constructive feedback to employees.
- Consider using performance management software to streamline the process and enhance transparency.

💰 Salary Structure for Indian Employees:
- A simple CTC structure consisting of Basic Pay, House Rent Allowance (HRA), and Special Allowance can be effective for startups.
- Ensure the salary structure is competitive and compliant with minimum wage laws and industry standards in India.

💼 Provident Fund (PF) Requirement:
- It is mandatory for companies with more than 20 employees to register for and contribute to the Employees' Provident Fund (EPF) in India.
- While some employees may prefer more cash in hand, PF is a statutory requirement aimed at ensuring long-term financial security for employees.

🖥️ HR Service and Payroll Portal:
- Consider using popular HR service and payroll portals like Zoho People, BambooHR, or Keka to manage employee data, payroll processing, and compliance requirements efficiently.

📋 Office Space Compliance:
- Ensure compliance with local regulations related to office space leasing in Noida, India, such as fire safety norms, building codes, and environmental regulations.
- Maintain necessary documentation and permits for the leased office space to avoid any legal issues in the future.

By addressing these key aspects, you can streamline HR and compliance processes effectively in your startup firm in Noida, India.