Handling the complexities of statutory compliance in emerging businesses from central, state and local Governments is a challenge for every organization/company/startup in India. In specific, companies with limited resources find that compliance management is difficult and consider this as a barrier for business growth and sale. Let’s see some of the common problems as follows:-…
What is NBFC? The Non-Banking Financial Companies (NBFC) is a heterogeneous group of financial institutions that perform vehicle finance, equipment lease finance, personal loans, consumer loans, housing loans, etc. It is regulated by the Reserve Bank of India (RBI). Most NBFC’s are categorized as: NBFC-D NBFC-ND Core investment companies. NBFC-D is NBFCs accepting deposits from banks whereas…
On 24th July 2019, the Government of Maharashtra revised the basic rate of minimum wages for the workers in the “employment of Shops and Commercial Establishments”. The revision was made after a gap of 9 years. It was done for Skilled, Semi-skilled and Unskilled workers. It was a 100% hike for all the three category…
What is Flexi Staffing? Flexi staffing is a service for employing people to make them available to a third party i.e., principal company. This is a tripartite employment type that the people are hired by a staffing agency and then hired out to perform work under the supervision of a principal company. The thing is…
The Apex court’s judgment on PF wages was delivered on 28-02-2019 in a case more popularly known as Surya Roshni Ltd & Ors vs Employee Provident Fund & Ors.Hon’ble Supreme Court in the matter of Regional Provident Fund Commissioner Vs. Vivekananda Vidyamandir and other connected appeals including Surya Roshni Ltd considered the scope of ‘basic…
Yes, of course, it is available. Nowadays cloud computing is an on-demand technology and many companies come forward to offer cloud-based compliance solution. Among them, I would recommend looking at Compfie, futuristic cloud-based compliance tool that enables companies to track, govern and do all the regulatory requirements on the cloud thereby preventing future risks.
At the centre of any organisation is the human resources (HR) function. The HR department focuses on identifying, hiring and retaining people with the right skill sets and qualities to execute the organisation’s strategy and achieve its goals. Given the importance of HR compliance, it is an important player in the organisation’s compliance structure. Organisations are…
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