A proper germinated and conceptualized Startup can over a period of time survive, succeed and thrive once it starts calling up according to its strategic initiatives. After the initial commencement of business, and market growth and success, Startups look to scale through other different options available in the market to spread its reach. New customer […]
When you look at traditional industries in India, it is clear that many are bygone and monotonous. However, people continue to do business within these industries, because of, the absence of other practical alternatives. But when a startup emerges with modern technology, better investment options and wider market acceptance things start changing. Startups are called […]
Handling the complexities of statutory compliance in emerging businesses from central, state and local Governments is a challenge for every organization/company/startup in India. In specific, companies with limited resources find that compliance management is difficult and consider this as a barrier for business growth and sale. Let’s see some of the common problems as follows:- […]
Every employee who has worked in the establishment for not less than 30 days in an accounting year shall be paid bonus by his / her employer as per Sec 8 of, The Payment of Bonus Act. The term ‘employee’ as defined in Sec 2(13) does not include contract workers. Hence the position is clear […]
What is NBFC? The Non-Banking Financial Companies (NBFC) is a heterogeneous group of financial institutions that perform vehicle finance, equipment lease finance, personal loans, consumer loans, housing loans, etc. It is regulated by the Reserve Bank of India (RBI). Most NBFC’s are categorized as: NBFC-D NBFC-ND Core investment companies. NBFC-D is NBFCs accepting deposits from banks whereas […]
Health is considered as a state of complete physical, mental, spiritual and social well-being and not merely the absence of disease or infirmity. Dr. Ashok Kumar Saxena (Director General of Health Services) With his words, it is clear that health is one of the imperative parameters of a nation’s development. Obviously, the Healthcare industry is […]
The incoming 2(y) vis-à-vis the outgoing 2(h) Finally, the new Code on Wages, 2019 which aims to amend and consolidate the existing four legislations, viz., The Equal Remuneration Act, The Minimum Wages Act, The Payment of Bonus Act and The Payment of Wages Act has been published on 8th August 2019. The definitions for the […]
The concept of compliance is to make sure that the company can obey the statutory laws responsibly. So, why it is important for an organization? Every business starts with a profit imperative but the qualities of products and services delivered aren’t compromised for profits. To ensure such thing the government, regulatory bodies enacted statutory laws […]
Yes, of course, it is available. Nowadays cloud computing is an on-demand technology and many companies come forward to offer cloud-based compliance solution. Among them, I would recommend looking at Compfie, futuristic cloud-based compliance tool that enables companies to track, govern and do all the regulatory requirements on the cloud thereby preventing future risks.
Simply put Compliance means abiding by rules, set guidelines or norms. Though one can relate compliance to even individual citizens, who must act in accordance to set laws for the greater benefit of the society. The term Compliance mostly and more importantly pertains to business establishments, industries, business services or products.
At the centre of any organisation is the human resources (HR) function. The HR department focuses on identifying, hiring and retaining people with the right skill sets and qualities to execute the organisation’s strategy and achieve its goals. Given the importance of HR compliance, it is an important player in the organisation’s compliance structure. Organisations are […]
Waking up to Data Risks Global news in recent times has tried coming to a conclusion on Data Security. And the truth is, no one has been able to conclude. From a consumer’s perspective today, if you do anything online, you give people access to your data. And while it’s impossible to not leave a […]
Regulatory compliance shows up as one of the biggest challenges faced across all industry verticals. What is intimidating is the rising cost, number of resources and the time it takes to put together an effective compliance management system in any organization. It is not a ‘one size fits all’ solution so every organization has to […]
Why Compliance? Businesses are facing the extreme cost and operational pressures as regulatory bodies are continuously increasing mandatory compliance management system. The financial crisis of 2008 and the rising number of financial frauds being reported of late have pushed the case for further monitoring by regulatory bodies. For businesses though, finance is just one of […]