Respected Members, Can I help my father in his small travel business by managing the current account/proprietorship under my name? I am working in an MNC. Will there be any conflict of interest? I don't work with him as such, just help him with the account and reading/writing. I have informed my HR about this. Kindly help with your suggestions.
Regards, Sam
From India, Bengaluru
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Regards, Sam
From India, Bengaluru
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Hi, Without affecting your day-to-day office work, you can support your father after your office working hours. It is not necessary to inform your HR as you are just supporting your father and not working with another employer after your office hours.
From India, Madras
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1015From India, Madras
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Thank you for reaching out, Sam. I have received a show cause notice from my employer, and I have also received a document from the bank stating that I am the owner/proprietor of the account. As I work in IT services and consulting, I wanted to inquire if engaging in a travel business could pose a conflict of interest for them. Your guidance on this matter would be greatly appreciated.
Thank you.
From India, Bengaluru
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Thank you.
From India, Bengaluru
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Dear Sam, You can do accounting work; however, ensure that you neither sign the balance sheet nor receive any personal monetary benefits. Secondly, do not sign any checks either. You can do behind-the-scenes spadework, but let your father be at the forefront.
Thanks,
Dinesh Divekar
From India, Bangalore
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Thanks,
Dinesh Divekar
From India, Bangalore
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Dear Dinesh Sir, The company is not a private Ltd, with only one person. However, the registration of travel is in my name since my dad is not educated. We never issue any cheques. Thanks a lot for your reply.
Regards, Sam
From India, Bengaluru
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Regards, Sam
From India, Bengaluru
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Hi, I don't know why your employer issued a show-cause notice to you. You can simply reply to your employer stating that you were in no way connected to your father's business. Owning a company bank account in your name is not a crime, and you are not an owner of a private limited company duly registered. You can explain to your employer that it is a family business run by your father, and only the bank account is opened in your name.
From India, Madras
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From India, Madras
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Dear Sam, If you have already received a show-cause notice, then you need to admit that it was done to help your father. Nevertheless, the documentary evidence of your involvement without taking consent from the authorities concerned has weakened your case. The company administration may perceive it as a conflict of interest.
As far as travel is concerned, nobody can prove it is for personal purposes or for the purposes of your father's business.
I wish you had been cautious before involving yourself in your father's business activities. In life, on whose shoulder the gun is that matters, not who shoots the gun.
Thanks,
Dinesh Divekar
From India, Bangalore
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As far as travel is concerned, nobody can prove it is for personal purposes or for the purposes of your father's business.
I wish you had been cautious before involving yourself in your father's business activities. In life, on whose shoulder the gun is that matters, not who shoots the gun.
Thanks,
Dinesh Divekar
From India, Bangalore
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Many major organizations have a rule that employees work exclusively for them, forbidding involvement in any other commercial activity. The travel business is a commercial activity and hence is considered objectionable. If you have not been involved in its operations at all, you can defend yourself by stating that you are a silent partner and have no involvement in it.
From India, Mumbai
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From India, Mumbai
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Succession Planning in Family Business.pdf
Format for Show Cause Notice.doc