Hi Guys,
I am just in the process of starting up my own sole proprietorship. We work in the area of web content development and SEO content. We have been working through my personal acct for a year now, and now i am taking the bull by the horns and registering my baby :)
Few questions though. My writers are all part time, so i have some concerns here, as follows:
1. How do I pay them every month? Check(to an account, does it have to be their OWN account?) or cash(with a signed receipt from them) Their individual pay doesn't cross 3000/- owing to the hours they put in.
2. Can I give them letters saying they have worked with me for so and so period of time and have done so good/bad and do you think it would have any good value for them later on?
3. What are the receipts i would have to save up with me? (I stay in a town, and I am registering the company in my birthplace city, Chennai.) I have telephone bills coming to my residence in the town I'm staying in. can i include those as bills? What about fuel expenses, anything else that I should be saving up(reciepts)?
4. Which is the best bank you would suggest for a sole proprietorship account?
Thanks for the help in advance, I appreciate it!
I'm new here, hope to see and learn a lot more !
Thanks!
With Best Regards,
Krshna
From India, Madras
I am just in the process of starting up my own sole proprietorship. We work in the area of web content development and SEO content. We have been working through my personal acct for a year now, and now i am taking the bull by the horns and registering my baby :)
Few questions though. My writers are all part time, so i have some concerns here, as follows:
1. How do I pay them every month? Check(to an account, does it have to be their OWN account?) or cash(with a signed receipt from them) Their individual pay doesn't cross 3000/- owing to the hours they put in.
2. Can I give them letters saying they have worked with me for so and so period of time and have done so good/bad and do you think it would have any good value for them later on?
3. What are the receipts i would have to save up with me? (I stay in a town, and I am registering the company in my birthplace city, Chennai.) I have telephone bills coming to my residence in the town I'm staying in. can i include those as bills? What about fuel expenses, anything else that I should be saving up(reciepts)?
4. Which is the best bank you would suggest for a sole proprietorship account?
Thanks for the help in advance, I appreciate it!
I'm new here, hope to see and learn a lot more !
Thanks!
With Best Regards,
Krshna
From India, Madras
Hi Krishna, Do you have any plans to set your office in Triavandrum , kerla bcoz i ahve also started up a company where we do RPO bsuiness. can we merge together and make a suuceesful one? Anil
From India, Kochi
1From India, Kochi
Hi Krshna,
First & foremost would like to congratulate you on your decsion to launch your baby!!!
regards to the queries raised:
1) I would suggest since your going to register your organisation, for the long term I would advise you to credit the salary to the employees a/c which shld be in his name only. The cash method is very tedious and again it gives rise to disputes.
2) Giving them work exp letters is absolutely must as they are putting in work at your place and it will also act as a branding for your company when these guys go to other companies for jobs and present ur work exp letters
3) You need to save all the bills which your incurring as expenses for your business. Also in that case you would need to show your home city address as teh reguistered office address.
4) dont know about the bank, but check out the co operative banks after doing their reference checks with the RBI if you have any source there. They would be much flexible with a sole proprietor company rather than a big pvt or mnc bank.
Rgds,
Ranjit
From India, Mumbai
First & foremost would like to congratulate you on your decsion to launch your baby!!!
regards to the queries raised:
1) I would suggest since your going to register your organisation, for the long term I would advise you to credit the salary to the employees a/c which shld be in his name only. The cash method is very tedious and again it gives rise to disputes.
2) Giving them work exp letters is absolutely must as they are putting in work at your place and it will also act as a branding for your company when these guys go to other companies for jobs and present ur work exp letters
3) You need to save all the bills which your incurring as expenses for your business. Also in that case you would need to show your home city address as teh reguistered office address.
4) dont know about the bank, but check out the co operative banks after doing their reference checks with the RBI if you have any source there. They would be much flexible with a sole proprietor company rather than a big pvt or mnc bank.
Rgds,
Ranjit
From India, Mumbai
Hi Ranjit,
Thanks, so much for your reply. It feels great to know that there are people here who can help you get started and moving ! Your reply has really thrown light over my doubts and now I think I can get it done confidently :)
Thanks again!
Cheers,
Krshna
From India, Madras
Thanks, so much for your reply. It feels great to know that there are people here who can help you get started and moving ! Your reply has really thrown light over my doubts and now I think I can get it done confidently :)
Thanks again!
Cheers,
Krshna
From India, Madras
My team is fully experienced and we have the expertise's of developing many desktop/web application/ SMS Marketing products using .Net platform and J2ME/J2EE and WML technologies.We have sound expertise in Web design and Development work. We have vast experience in various web Language ( PHP, ASP.NET 2, C#, Java, Joomla, OSCommerec, Web 2.0…) .. My team comprises of highly skilled professionals which are trained in developing desktop and web applications as well as complex programming applications not only using Java Technology and PHP but also have high expertise in using Microsoft Tools and Technologies.
We do Data entry and BPO projects and we have team working on Article writing, Proof reading, Content Writing, Data Converting, Copy Writing. We have 100 seater capacity to full fill your requirement within specified time.
Kindly provide us your projects.
From India, Bangalore
We do Data entry and BPO projects and we have team working on Article writing, Proof reading, Content Writing, Data Converting, Copy Writing. We have 100 seater capacity to full fill your requirement within specified time.
Kindly provide us your projects.
From India, Bangalore
Hi KRSNA,
Nice to read your letter. I am also into the same field of content writing and have my own firm but not yet opened an office. I stay at Bangalore and need a few freelancers for my firm. I have a regular flow of projects. I am proposing to open an office by the end of this year or the begining of next year as I feel I cannot concentrate much of now whole heartedly on my new office as I have a small baby. As of your questions concerned as per my experience save all the reciepts you pay for your writers and you can open an account with axis bank which has lots of facilities or why not try with IcIcI because you can do a lot of online transfers but before opening one consult your concerned manager that they should not charge you with any unconcerned charges like NEFTY which at times they do and you may also pay your writers thro' cash or check. And can you do me a favour? Can you help me with some writers who can write for me as I take up bulk projects for SEOs and other websites and write articles for them. But as of now i am in short of writers. If you are interested please mail me at
. Even if you want you may merge with me for taking up projects as you stay at chennai and me at Bangalore but I am also from TN basically.:)
From India, Bangalore
Nice to read your letter. I am also into the same field of content writing and have my own firm but not yet opened an office. I stay at Bangalore and need a few freelancers for my firm. I have a regular flow of projects. I am proposing to open an office by the end of this year or the begining of next year as I feel I cannot concentrate much of now whole heartedly on my new office as I have a small baby. As of your questions concerned as per my experience save all the reciepts you pay for your writers and you can open an account with axis bank which has lots of facilities or why not try with IcIcI because you can do a lot of online transfers but before opening one consult your concerned manager that they should not charge you with any unconcerned charges like NEFTY which at times they do and you may also pay your writers thro' cash or check. And can you do me a favour? Can you help me with some writers who can write for me as I take up bulk projects for SEOs and other websites and write articles for them. But as of now i am in short of writers. If you are interested please mail me at
From India, Bangalore
Hi Krshna ,
Is it possible to work for you sitting in my house in New Delhi as I have ample spare time and have the relevant infrastructure . U can mail me @
.
Thanks
Gurpreet Singh
From India, Delhi
Is it possible to work for you sitting in my house in New Delhi as I have ample spare time and have the relevant infrastructure . U can mail me @
Thanks
Gurpreet Singh
From India, Delhi
Hai Krishna,
you need to register with 1 local municipal authorities 2 you need to have your PAN card 3 shall also maintain books of accounts 4 prepare a small book conataing employement rules etc & every employee need to give you a recepit that they have read the conditions in case of anhy dispute it will save yal ou from legal process. 5 try to keep low your fixed costs 6 open ur bank account with any public sector bank with national presence since you may need branches of that bank depending upon your business needs.Private sector bank levy very high charges on business accounts. before opeing pl copare the terms of bank account . There are some hessels in Public sector bank but you save lot of money . If your account is going to maintain high balances then among private sector IDBI bank is a better choice.best of luck
From India, Gurgaon
you need to register with 1 local municipal authorities 2 you need to have your PAN card 3 shall also maintain books of accounts 4 prepare a small book conataing employement rules etc & every employee need to give you a recepit that they have read the conditions in case of anhy dispute it will save yal ou from legal process. 5 try to keep low your fixed costs 6 open ur bank account with any public sector bank with national presence since you may need branches of that bank depending upon your business needs.Private sector bank levy very high charges on business accounts. before opeing pl copare the terms of bank account . There are some hessels in Public sector bank but you save lot of money . If your account is going to maintain high balances then among private sector IDBI bank is a better choice.best of luck
From India, Gurgaon
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