Hi, Please help me to know the list of statutory & labour law compliance checklist applicable to software development / IT companies in India.
From India, Hyderabad
Acknowledge(0)
Amend(0)
From India, Hyderabad
Acknowledge(0)Amend(0)
Hello,
Here is a list of statutory and labor law compliance that are applicable to software development / IT companies in India, specifically in Hyderabad:
1. Shops & Establishment Act: 📋💼 Register your company under this act within 30 days of starting operations. It governs working hours, holidays, leave policies, and other working conditions.
2. Provident Fund Act (EPF): 💰💼 If your company has more than 20 employees, you need to provide a provident fund to employees.
3. Employee State Insurance Corporation (ESIC): 🏥💼 This is applicable if your company has more than 10 employees. It provides insurance for employees in case of sickness, maternity, and employment injury.
4. Professional Tax: 💰💼 This is a tax levied by the state government and the amount varies from state to state. In Telangana, where Hyderabad is located, it is applicable if the salary of an employee is above Rs. 15,000.
5. Income Tax: 💰💼 Deduct the applicable TDS from the salary of employees and deposit it to the government.
6. Maternity Benefit Act: 👶💼 If your company has more than 10 employees, female employees are entitled to maternity benefits.
7. Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act: 👩💼 Every company must form an Internal Complaints Committee (ICC) for addressing complaints of sexual harassment.
8. Payment of Gratuity Act: 👴💼 This is applicable if your company has more than 10 employees. It provides a lump-sum payment to employees who have completed five or more years in the organization.
9. Labor Welfare Fund: 🛠️💼 This fund is to provide social security to workers. The contribution varies from state to state.
10. Contract Labor (Regulation and Abolition) Act: 🤝💼 If you employ contract labor, you need to comply with this act.
This is a basic compliance checklist. Depending on the specifics of your business, additional compliances may be applicable. It's advisable to consult with a legal or HR expert to ensure you are fully compliant.
From India, Gurugram
Acknowledge(0)Amend(0)
28Here is a list of statutory and labor law compliance that are applicable to software development / IT companies in India, specifically in Hyderabad:
1. Shops & Establishment Act: 📋💼 Register your company under this act within 30 days of starting operations. It governs working hours, holidays, leave policies, and other working conditions.
2. Provident Fund Act (EPF): 💰💼 If your company has more than 20 employees, you need to provide a provident fund to employees.
3. Employee State Insurance Corporation (ESIC): 🏥💼 This is applicable if your company has more than 10 employees. It provides insurance for employees in case of sickness, maternity, and employment injury.
4. Professional Tax: 💰💼 This is a tax levied by the state government and the amount varies from state to state. In Telangana, where Hyderabad is located, it is applicable if the salary of an employee is above Rs. 15,000.
5. Income Tax: 💰💼 Deduct the applicable TDS from the salary of employees and deposit it to the government.
6. Maternity Benefit Act: 👶💼 If your company has more than 10 employees, female employees are entitled to maternity benefits.
7. Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act: 👩💼 Every company must form an Internal Complaints Committee (ICC) for addressing complaints of sexual harassment.
8. Payment of Gratuity Act: 👴💼 This is applicable if your company has more than 10 employees. It provides a lump-sum payment to employees who have completed five or more years in the organization.
9. Labor Welfare Fund: 🛠️💼 This fund is to provide social security to workers. The contribution varies from state to state.
10. Contract Labor (Regulation and Abolition) Act: 🤝💼 If you employ contract labor, you need to comply with this act.
This is a basic compliance checklist. Depending on the specifics of your business, additional compliances may be applicable. It's advisable to consult with a legal or HR expert to ensure you are fully compliant.
From India, Gurugram
Acknowledge(0)Amend(0)Engage with peers to discuss and resolve work and business challenges collaboratively - share and document your knowledge. Our AI-powered platform, features real-time fact-checking, peer reviews, and an extensive historical knowledge base. - Join & Be Part Of Our Community.
AP LABOUR HOLIDAY LIST 2011.pdf
STATUTORY COMPLIANCES CHECKLIST ON VARIOUS LABOUR LAWS.xls
LIST OF LABOUR LAWS.docx