1) Services related to Human resources department
i. Employees’ Provided Fund Organization registration (EPFO)(What, Why and How can we help)
ii. Employees’ State Insurance Corporation (ESIC) (What, Why and How can we help)
i. Employees’ Provided Fund Organization registration (EPFO):-
EPF registration is mandatory for all establishments-
1) which is a factory engaged in any industry having 20 or more persons, and
2) to any other establishment employing 20 or more persons or class of such establishments which the Central Government may, by notification specify in this behalf.
Where the employer and majority of employees have agreed that the provisions of
this act should be made applicable to the establishment, they may themselves apply to
the Central PF Commissioner and
Now you can get EPFO registration while forming your company. As you know the Ministry of corporate affairs has introduced the form AGILE INC-35 through which anyone who intends to incorporate company in India now they can get EPFO registration along with the registration of company.
Just provide us documents as mentioned in the checklist for getting Employees’
Provided Fund Organization registration. (EPFO)
ii. Employees’ State Insurance Corporation (ESIC)
Employee’s State Insurance (abbreviated as ESI) is a self-financing social security and health insurance scheme for Indian workers. This fund is managed by the Employee’s State Insurance Corporation (ESIC) according to rules and regulations stipulated there in the ESI Act 1948. ESIC is an autonomous corporation by a statutory creation under Ministry of Labour and Employment, Government of India.
Employee’s State Insurance or ESI is a comprehensive social security program for workers in the event of medical contingencies, such as sickness, maternity, death or disablement due to employment injury and occupational disease.
A. Medical Benefit
B. Sickness Benefit
C. Maternity Benefit
D. Funeral Expenses
E. Confinement Expenses
F. Dependant’s Benefit
Now you can get ESIC registration while forming your company. As you know the Ministry of corporate affairs has introduce form AGILE INC-35 through which anyone who intends to incorporate company in India now they can get ESIC registration along with the registration of company.
2) Compliances related to Reserve Bank of India:-
i. Online Reporting of Advance Foreign Inward Remittance FC GPR to Reserve Bank of India via RBI Firms portal: –
The money received from the foreign investor for purchase of shares in the Indian Company will be accounted under share application money. The Indian Company is required to issue shares within 180 days from the date of inward remittance to the foreign investor, to avoid violation of the FEMA regulations and required to intimate the same to the RBI within the period of 30 days from the date of issue of shares via filing of form FC-GPR on RBI firm’s portal.
ii. Annual Return (FLA Return) of Foreign Investments (FDI) by Indian Companies/ Firms:-
The annual return on Foreign Liabilities and Assets (FLA) is required to be submitted directly by all the Indian companies which have received FDI (foreign direct investment) and/or made FDI abroad (i.e. overseas investment) in the previous year(s) including the current year i.e. who holds foreign Assets or Liabilities in their Balance Sheets.
However, if the company has not ‘received any fresh FDI and/or ODI (overseas direct investment)’ in the latest year but the company has outstanding FDI and/or ODI, then that company is also required to submit the FLA Return every year by 15 th July.