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 […]
Let’s Talk Compliance – OSHWC Anamoly
Is it what is intended or an error to be rectified? Following the Code on Wages, 2019, it looks like The Occupational Safety, Health, and Working Conditions Code, 2019 is the next one to be released. A bill to that effect has already been introduced in the Lok Sabha on 23rd July 2019. The code […]
Break Complexities of compliance
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:- […]
Statutory Compliance Audit for NBFCs – An introduction
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 […]
List Of Labour Laws For Overtime Work
What is Overtime? Overtime refers to the period for which an employee has worked more than their regular working hours. As per the overtime policies in India, the working hours are 7 to 9 hours per day and 48 hours a week. The labour laws in India state that any employee who works at overtime […]
Factory Compliance Checklist 2019
A brief history of the Factories Act: In India, large scales of factories/ industries were growing up during the industrial revolution. Major Moore, chief inspector of the Bombay cotton department first raised a question for the provisions of the legislation to regulate the working conditions in factories. Hence the first Factories Act was enacted in […]