Dear All, Please find attached herewith the Monthwise Statutory Compliance Checklist. Regards, Vishvajeet
From India, Delhi
Acknowledge(0)
Amend(0)
From India, Delhi
Acknowledge(0)Amend(0)
Dear Vishvajeet,
Thank you for sharing your Monthwise Statutory Compliance Checklist. The statutory compliance checklist will differ from organization to organization depending on the nature of their business, size, type, etc. However, some of the general statutory compliances which are applicable in Delhi, India are:
1. 💼 **Factories Act, 1948**: Ensure that the company is complying with health, safety, and welfare measures prescribed under the Act.
2. 🏢 **Shops and Establishments Act**: Check if the business is registered under this Act. The Act regulates payment of wages, hours of work, leave, holidays, terms of service, and other work conditions of people employed in shop and commercial establishments.
3. 💰 **Payment of Wages Act, 1936**: Make sure wages are paid to the employees on time as per this Act.
4. 🎯 **Minimum Wages Act, 1948**: Ensure the company is paying minimum wages to the employees as prescribed under the Act.
5. ⏰ **Payment of Bonus Act, 1965**: Check if the company is paying a bonus to the employees as per the provisions of this Act.
6. 📝 **Contract Labour (Regulation and Abolition) Act, 1970**: If contract labor is used, ensure that the company is complying with the provisions of this Act.
7. 👨‍💼 **Employees’ Provident Fund Act, 1952**: Ensure that the company is making its contribution towards the provident fund as per this Act.
8. 🏥 **Employees’ State Insurance Act, 1948**: Check if the company is making its contribution towards the state insurance fund as per this Act.
9. 🚧 **Workmen’s Compensation Act, 1923**: If an accident occurs at the workplace, ensure that compensation is paid as per the provisions of this Act.
10. 🛡️ **Maternity Benefit Act, 1961**: Ensure that maternity benefits are given to female employees as per this Act.
11. 🔔 **Payment of Gratuity Act, 1972**: Check if gratuity is paid to employees as per the provisions of this Act.
12. 🧾 **Professional Tax**: Professional Tax should be deducted as per the rates prescribed by the state government.
13. 📊 **TDS Deductions**: TDS should be deducted as per the rates prescribed under the Income Tax Act, 1961.
14. 🚀 **Employee Stock Option Plans (ESOPs)**: If ESOPs are granted to employees, ensure that they are in compliance with the Companies Act, 2013, and Income Tax Act, 1961.
Please make sure to keep your statutory compliance checklist updated regularly, as the laws are dynamic and can change from time to time. You may also consider hiring a compliance expert or a legal counsel to ensure you are in line with all the necessary compliances.
I hope this helps you in managing your statutory compliances effectively!
Best,
[Your name]
From India, Gurugram
Acknowledge(0)Amend(0)
32Thank you for sharing your Monthwise Statutory Compliance Checklist. The statutory compliance checklist will differ from organization to organization depending on the nature of their business, size, type, etc. However, some of the general statutory compliances which are applicable in Delhi, India are:
1. 💼 **Factories Act, 1948**: Ensure that the company is complying with health, safety, and welfare measures prescribed under the Act.
2. 🏢 **Shops and Establishments Act**: Check if the business is registered under this Act. The Act regulates payment of wages, hours of work, leave, holidays, terms of service, and other work conditions of people employed in shop and commercial establishments.
3. 💰 **Payment of Wages Act, 1936**: Make sure wages are paid to the employees on time as per this Act.
4. 🎯 **Minimum Wages Act, 1948**: Ensure the company is paying minimum wages to the employees as prescribed under the Act.
5. ⏰ **Payment of Bonus Act, 1965**: Check if the company is paying a bonus to the employees as per the provisions of this Act.
6. 📝 **Contract Labour (Regulation and Abolition) Act, 1970**: If contract labor is used, ensure that the company is complying with the provisions of this Act.
7. 👨‍💼 **Employees’ Provident Fund Act, 1952**: Ensure that the company is making its contribution towards the provident fund as per this Act.
8. 🏥 **Employees’ State Insurance Act, 1948**: Check if the company is making its contribution towards the state insurance fund as per this Act.
9. 🚧 **Workmen’s Compensation Act, 1923**: If an accident occurs at the workplace, ensure that compensation is paid as per the provisions of this Act.
10. 🛡️ **Maternity Benefit Act, 1961**: Ensure that maternity benefits are given to female employees as per this Act.
11. 🔔 **Payment of Gratuity Act, 1972**: Check if gratuity is paid to employees as per the provisions of this Act.
12. 🧾 **Professional Tax**: Professional Tax should be deducted as per the rates prescribed by the state government.
13. 📊 **TDS Deductions**: TDS should be deducted as per the rates prescribed under the Income Tax Act, 1961.
14. 🚀 **Employee Stock Option Plans (ESOPs)**: If ESOPs are granted to employees, ensure that they are in compliance with the Companies Act, 2013, and Income Tax Act, 1961.
Please make sure to keep your statutory compliance checklist updated regularly, as the laws are dynamic and can change from time to time. You may also consider hiring a compliance expert or a legal counsel to ensure you are in line with all the necessary compliances.
I hope this helps you in managing your statutory compliances effectively!
Best,
[Your name]
From India, Gurugram
Acknowledge(0)Amend(0)Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.