Provident Fund
The Employees’ Provident Fund (EPF) is a savings scheme introduced under Employees’ Provident Fund and Miscellaneous Act, 1952. It is managed by the central board of trustees consisting of the government, employer and employees; it is assisted by The Employees’ Provident Fund Organization. EPFO works under the direct jurisdiction of the government and is managed through the Ministry of Labour and Employment.
EPF is commonly known as PF in India and is a scheme through which a portion of employee’s income is set aside for use during any emergency or post-retirement. The employer and employees deposit a certain percentage towards PF every month. The percentage of money to be deducted from the employee’s salary and percentage to be contributed by the employer is predefined under EPF Act.
Requirements / Conditions
- To be eligible for ESI registration is to have more than 10 workers. In some regions, ESI registration is possible for establishments only if there are more than 20 employees.
- The total contribution to ESI is 4% of the gross salary and it can be further divided as:
- 3.25% by the employer
- 0.75% of the employee
- For industrial units where there are chances of occurrence of injury or health issues all the employees with a salary less than Rs.21,000 compulsorily need to get ESI registration.
Employee State Insurance
ESIC stands for Employee State Insurance Corporation is an autonomous body created by law and is under the control of the Ministry of Labour and Employment, Government of India. It regulates the ESI scheme as per ESI Act of 1948. ESI scheme is set to cater the health and insurance needs of the employees and is funded by the employees and the employer.
Requirements / Conditions
For Employer
PF Registration is mandatory for all the establishments – That has engaged 20 or more than 20 people.
For any other establishment that has less than 20 people then the central government has to specify the same in the notification on the behalf.
For Employee
Employees drawing less than Rs.15000 per month need to mandatorily become members of the EPF. According to the guidelines, employees whose basic pay is more than Rs. 15000 a month at the time of joining are not required to make any PF contributions.
But an employee who is drawing pay of more than Rs.15,000 can still be a member and make contributions with the employer and the Assistant PF commissioner.
Goods and Service Tax
GST Registration is an online process involving submission of several business details along with certain supporting documents. Prior to the GST registration, a critical analysis of various business and transaction aspects like – nature of business, types of supplies/ services, category of registration etc. are required to be undertaken. We are equipped to provide qualitative value added services through the entire process of GST registration. Our dedicated team is available to offer end to end services in accordance with your requirements and clarify your questions.
Requirements / Conditions
For small business, registration is not compulsory up to a turnover limit as below:
- In case of exclusive supply of goods by a business entity situated in Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Puducherry, Sikkim, Telengana, Tripura & Uttarakhand – Rs. 20 Lakhs
- In case of exclusive Supply of goods by a business entity situated in rest of India – Rs. 40 Lakhs
- In case of supply of services or mixed supply by an entity situated in Manipur, Mizoram, Nagaland & Tripura – Rs. 10 Lakhs
- In case of supply of services or mixed supply by an entity situated in rest of India – Rs. 20 Lakhs
FSSAI
All food business operators involved in the manufacturing, processing, delivering, storage distribution, and sale of food products must compulsorily need FSSAI Registration or License. Needless to say, FSSAI Registration is a bit different from FSSAI License, depending on the size and nature of the business. Each FBO should necessarily obtain the registration or license. FSSAI Registration a 14-digit registration or a license number must be printed on all the food packages. This registration procedure is aimed to create more accountability on the FBO to maintain the quality of the food products. We are always at your service to help you get your FSSAI Registration or FSSAI License.
Requirements / Conditions
FBOs like wholesalers, distributors, suppliers, retailers, food vending establishments, hawkers, clubs, canteens, Dhabas, hotels, restaurants, and storage facilities with an annual turnover of less than Rs.12 lakh, between Rs.12 Lakh- Rs.20 crores or more than Rs.20 crores.
Petty producers manufacturing by itself
A makeshift stall selling food products.
Businesses involved in selling food at a social or a religious gathering, other than a caterer.
Cottage industries associated with food products
Production or processing units of vegetable oil by the process of solvent extraction and refineries including oil expeller system. With a capacity to provide not more than 100 kg/liter per day (except milk or meat).
Dairy units, involved in procurement/collection/handling/chilling of milk, having a capacity of not more than 500 liters per day, or up to 2.5 Metric Ton of milk solids annually.
A slaughtering capacity of not more than 2 large animals or 10 small animals or 50 poultry birds per day.
Proprietary Foods
Production and processing units of vegetable oil by the process of solvent extraction and refineries including oil expeller unit. With a turnover within Rs. 12 lacs to Rs. 20 crores annually.
Hotels of 4-star ratings or less or that have been rated 5-star or more.
Storages having a capacity of less than 50,000 metric tonnes yearly or with a capacity of more than 50,000 metric tonnes.
All food processing units including re-packers, with a daily capacity of not less than 100 kg/liter to up to 2 metric tonnes.
100 % export oriented units involved in food production or processing.
Every Importer including the import of food ingredients or additives.
Caterers working under Central Government or related agencies such as Railways, Airlines and airport, Seaport, Defence, etc.
All food processing units including re-packers and excluding the grains, pulses & cereals milling units with a capacity of over 2 metric tonnes per day.
All FBOs involved in producing an item of food, additive or it’s ingredient, using some new process or technology, and/or a combination thereof, whose safety has not been established yet by the FSSAI. Or they may not have a history of safe usage. It covers the food articles being introduced in the country, for the first time.
Micro, Small and Medium Enterprises
MSME registration helps Micro, Small and Medium Enterprises to obtain various benefits provided by the government for their growth. In a developing country like India, MSME industries are the backbone of the economy. When these industries grow, the country’s economy grows and flourishes. These industries are also known as small-scale industries or SSIs.The MSME registration is not yet made mandatory by the Government of India but it is beneficial to get one’s business registered under this because it provides a lot of benefits in terms of taxation, setting up the business, credit facilities, loans etc.
Requirements / Conditions
Not all businesses require to obtain Udyam registration in India. The entities that are mentioned below that are classified as micro, small or medium enterprises based on the investment in plant and machinery are eligible for Udyam registration.
Classification of Enterprise
Classification Manufacturing Sector
- Micro Enterprises Up to Rs. 25 lakh investment in plant and machinery.
- Small Enterprises Up to Rs. 5 crore investment in plant and machinery.
- Medium Enterprises Up to Rs. 10 crore investment in plant and machinery.
The enterprise was founded by Chartered Accountant Mr. Jothilingam S.
