Dear Senior,
Greetings for the day. Recently, I joined a construction-based firm in Hyderabad. The firm has been incorporated and functioning for 13 years. However, the strange thing is that there are no statutory provisions implemented here, such as PF and ESI. This means that whatever salary is negotiated with new employees is their take-home pay at all levels without any deductions.
Implementing Statutory Requirements
As an HR person, if I want to implement all the above-mentioned statutory requirements, will it be possible now, or will it lead to any statutory complications? Kindly suggest. I am eagerly awaiting your valuable suggestions.
Thanks & Regards,
Rakesh
From India, Hyderabad
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3Greetings for the day. Recently, I joined a construction-based firm in Hyderabad. The firm has been incorporated and functioning for 13 years. However, the strange thing is that there are no statutory provisions implemented here, such as PF and ESI. This means that whatever salary is negotiated with new employees is their take-home pay at all levels without any deductions.
Implementing Statutory Requirements
As an HR person, if I want to implement all the above-mentioned statutory requirements, will it be possible now, or will it lead to any statutory complications? Kindly suggest. I am eagerly awaiting your valuable suggestions.
Thanks & Regards,
Rakesh
From India, Hyderabad
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Compliance Requirements for Construction Companies
Your company needs to comply with the BOCW Act 1996. Registration under this Act is required before starting any job. For office operations, registration under the Shops and Establishment Act is necessary. Other compliance requirements include:
1. Registration under EPFO
2. Registration under ESIC
3. Registration and Enrollment under the Professional Tax Act
4. Income Tax compliance
5. Employees Compensation Act if ESIC is not applicable
6. Registration under the Contract Labour (R&A) Act 1972
Additionally, there are several local and state acts that must be maintained.
Regards,
Soubhik
From India, Kolkata
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Your company needs to comply with the BOCW Act 1996. Registration under this Act is required before starting any job. For office operations, registration under the Shops and Establishment Act is necessary. Other compliance requirements include:
1. Registration under EPFO
2. Registration under ESIC
3. Registration and Enrollment under the Professional Tax Act
4. Income Tax compliance
5. Employees Compensation Act if ESIC is not applicable
6. Registration under the Contract Labour (R&A) Act 1972
Additionally, there are several local and state acts that must be maintained.
Regards,
Soubhik
From India, Kolkata
Acknowledge(0)Amend(0)
Approaching Higher Management with Proposals
Greetings for the day. Thank you very much for your valuable information. Yes, it's time to take a huge step for me with respect to the implementation of the above-mentioned. Could anyone suggest how I should approach and present the proposals and consequences to the higher management? Help me out...
Thanks in advance.
Regards, Rakesh
From India, Hyderabad
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Greetings for the day. Thank you very much for your valuable information. Yes, it's time to take a huge step for me with respect to the implementation of the above-mentioned. Could anyone suggest how I should approach and present the proposals and consequences to the higher management? Help me out...
Thanks in advance.
Regards, Rakesh
From India, Hyderabad
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Starting a Business: Essential Compliance Steps
To start a business, someone must take the initiative. Inform higher management that if they want to work with multinationals and other companies, they must ensure statutory compliance. Registration under the CLRA (Contract Labour Regulation and Abolition) Act 1970 is essential. Maintaining registers under the Act is required. A trade license, service tax registration, and PAN number are necessary. PF registration and compliance with the Employees' Compensation Act 1923 are needed. Before providing you with the contract, the principal employer will ask you these questions before PQ (Pre-qualification of a Vendor) or before registering you as a vendor under them. Please approach.
Regards
From India, Kolkata
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To start a business, someone must take the initiative. Inform higher management that if they want to work with multinationals and other companies, they must ensure statutory compliance. Registration under the CLRA (Contract Labour Regulation and Abolition) Act 1970 is essential. Maintaining registers under the Act is required. A trade license, service tax registration, and PAN number are necessary. PF registration and compliance with the Employees' Compensation Act 1923 are needed. Before providing you with the contract, the principal employer will ask you these questions before PQ (Pre-qualification of a Vendor) or before registering you as a vendor under them. Please approach.
Regards
From India, Kolkata
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Labr laws for Vendor compliance Management.pdf
Statutory Compliance of a Industrial or Commercial Unit.xls