As an HR professional, there are several important compliance regulations and practices that you should be aware of and follow. Here are some key HR compliance areas to consider for a healthcare-related startup company in Bangalore with around 30 employees:
Employment Contracts
Ensure that all employees have signed valid employment contracts that outline their terms of employment, including job responsibilities, compensation, benefits, and termination provisions.
Statutory Compliance
Comply with various statutory requirements, such as obtaining and maintaining necessary licenses and registrations, adhering to labor laws, and following applicable industrial and employment laws.
Minimum Wages and Payment of Wages
Ensure that employees are paid at least the minimum wages mandated by the state government and that their wages are paid within the specified timeframes.
Provident Fund (PF)
Register your company for the Employees' Provident Fund (EPF) and ensure that all eligible employees are enrolled and their contributions are deposited on time. The current contribution rate is 12% of basic wages, dearness allowance, and retaining allowance.
Employee State Insurance (ESI)
Register your company for the Employee State Insurance (ESI) scheme if you have more than 10 eligible employees. Ensure that all eligible employees are enrolled, and their contributions are deducted and deposited on time. The current contribution rate is 1.75% of wages.
Professional Tax
Deduct and deposit professional tax from employees' salaries as per the state government regulations. The rates vary based on the employee's salary slab.
Income Tax
Deduct and deposit income tax from employees' salaries as per the Income Tax Act. Provide employees with Form 16 and issue tax deduction certificates as required.
Sexual Harassment
Establish an Internal Complaints Committee (ICC) to address any complaints of sexual harassment at the workplace, as mandated by the Sexual Harassment of Women at Workplace (Prevention, Prohibition, and Redressal) Act, 2013.
Maternity Benefits
Comply with the Maternity Benefit Act, which provides for paid maternity leave and other benefits to eligible female employees.
Leave Policies
Establish and communicate clear policies on leave entitlements, including annual leave, sick leave, and other types of leave as per applicable laws and company policies.
Employee Records and Documentation
Maintain accurate and up-to-date employee records, including personal details, employment contracts, attendance records, salary slips, and other relevant documents as required by law.
Health and Safety
Ensure compliance with health and safety regulations, including maintaining a safe work environment, providing necessary safety equipment, and conducting regular safety audits.
It is important to note that HR compliance requirements may vary based on the specific nature of your business and the location.
Additionally, consider seeking guidance from industry associations, attending HR workshops or seminars, and staying updated with changes in labor laws and regulations to ensure ongoing compliance. Prioritize compliance and seek professional advice whenever necessary to ensure that you meet all legal requirements.