Manufacturing
What are the compliance requirements for a company?
There are several legislations brought by the Ministry of Corporate Affairs or otherwise which require healthy operations by the corporations. Some of those important laws have been briefly explained below:
- Factories Act, 1948: An Act dedicated to the occupational safety, health and welfare of workmen employed at factories or manufacturing units.
- Employees Provident Fund (EPF) Act, 1952: Provisions dedicated for the security of an employee after retirement from service.
- Employees’ State Insurance (ESI) Act, 1948: An Act containing health safety provisions to grant security to employees against risks during employment.
- Professional Tax Act (State Laws): Some states in India like Telangana, Maharashtra have imposed tax on certain professions including trades and employment.
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Trading
Starting a trading business requires a lot of initial research related to the product to be traded. What should be traded, what’s the market availability, what’s the competition level, what’s the expected durability of the product in the market, what will be the cost, what will be the profit margin, what will be the customer satisfaction, etc. Apart from all this, the effects of various laws and regulations applicable to the trading business should be evaluated. To start a trading business in India, you are required to comply with some legal formalities which are discussed below:
1. Incorporation
A trading business can be carried out by any form of entity, i.e., by sole proprietorship, partnership, limited liability partnership (LLP), company, etc. Depending upon the type of entity, incorporation is to be done. A sole proprietorship concern does not require any specific legal incorporation
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Information Technology
- Registration: Identity creation thru Sole Prop, LLP, Pvt Limited, OPC or Partnership.
- GST Registration
- Trade Mark Registration to protect your brand
- Patent registration for technology
- Software License agreements
- Labour law compliances, if applicable.
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Banking/NBFC
RBI Act
The RBI Act was enacted to establish and set out functions of the RBI. It grants the RBI powers to regulate the monetary policy of India and lays down the constitution, incorporation, capital, management, business and functions of the RBI.
BR Act
The BR Act provides a framework for supervision and regulation of all banks. It also gives the RBI the power to grant licences to banks and regulate their business operation.
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Construction
- Shop Act Registration
- Professional Tax Registration
- GST Registration
- Rera Registration
- Income Tax Return filing
- GST Return Filing
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Hospital
Health is considered as a state of complete physical, mental, spiritual and social well-being and not merely the absence of disease or infirmity.
With his words, it is clear that health is one of the imperative parameters of a nation’s development. Obviously, the Healthcare industry is highly responsible for society and the environment.
In India, the Ministry of health and family welfare is an authoritative body that regulates the healthcare industry. The Directorate General of Health Services is an attached organization that acts as a technical knowledge repository concerning Public Health, Medical Education and Health Care.
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