Hi All,
I am planning to start HR consulting from Home as a Sole Proprietor, kindly suggest what procedure i have to follow to start the consulting. And does i have to get register as a sole proprietor. I Stay in Bangalore, so it will be great if you can advice me according to the rules of state government.
Thanks in advance
Garima
From India, Bangalore
2I am planning to start HR consulting from Home as a Sole Proprietor, kindly suggest what procedure i have to follow to start the consulting. And does i have to get register as a sole proprietor. I Stay in Bangalore, so it will be great if you can advice me according to the rules of state government.
Thanks in advance
Garima
From India, Bangalore
Dear Garima,
Cogratulation that you are willing to start your own venture.
there are various legal and regulatory frames to start a firm,company,venture in all States, among them i would suggest you to take information about Society Act, Society Act is really a good option for small as well as for new start ups.
Very few formalities they need, as office agreement if any, PAN Card of initiator, address proof etc.
but you need 7 different people as on different designations as president,finance secretory,manager and few other members are mandatory for society act registration,but you can keep your self as a president and according to the by lodge you can open your firm's current account for financial operations also.
After some time when you are quite comfortable and you find that there must be some upgrades in firm's lay out then you can go for Companies Act, after getting enrolled in companies act you will work as a company, there will be at least 2 directors and you can write as ABC Pvt.Ltd.
In society act you can use your self as director in official documents but on bank accounts,cheques and society documents you will use your president stamp and sign.
Best Wishes.
Manish Srivastava
+91- 96707-66 888
From India, Lucknow
Cogratulation that you are willing to start your own venture.
there are various legal and regulatory frames to start a firm,company,venture in all States, among them i would suggest you to take information about Society Act, Society Act is really a good option for small as well as for new start ups.
Very few formalities they need, as office agreement if any, PAN Card of initiator, address proof etc.
but you need 7 different people as on different designations as president,finance secretory,manager and few other members are mandatory for society act registration,but you can keep your self as a president and according to the by lodge you can open your firm's current account for financial operations also.
After some time when you are quite comfortable and you find that there must be some upgrades in firm's lay out then you can go for Companies Act, after getting enrolled in companies act you will work as a company, there will be at least 2 directors and you can write as ABC Pvt.Ltd.
In society act you can use your self as director in official documents but on bank accounts,cheques and society documents you will use your president stamp and sign.
Best Wishes.
Manish Srivastava
+91- 96707-66 888
From India, Lucknow
Dear Garima
I am attaching a list which may useful for you
ALPHONSE
9443625359
attribution https://www.citehr.com/466197-planni...#ixzz2ZT12f18S
From India, Madras
I am attaching a list which may useful for you
ALPHONSE
9443625359
attribution https://www.citehr.com/466197-planni...#ixzz2ZT12f18S
From India, Madras
Hi All
My husband and I are planning to set up our own consultancy firm as partners. I am interested to know what shud be the first step in setting it up? There are many posts on this however would request some senior member to guide us on this. We are planning to start from home and our current location is Noida. Also, I have heard that it is great to take franchisee of an already established firm as one can learn the business better.
Regards
saima
From India
My husband and I are planning to set up our own consultancy firm as partners. I am interested to know what shud be the first step in setting it up? There are many posts on this however would request some senior member to guide us on this. We are planning to start from home and our current location is Noida. Also, I have heard that it is great to take franchisee of an already established firm as one can learn the business better.
Regards
saima
From India
hi garima, its nice to see that you wanted to start your own company but i would suggest you instead of a Sole Proprietor firm i would suggest you to go for a partnership firm and particularly and LLP which is a Limited liability partnership firm which is easy to setup only requires a minimum of two members and they can be anyone for that matter family friends and any social circles. you have good tax benefit as well, plz Google about LLP and reach any firm who helps you in setting the LLP company. they will collect the required documents from you and rest everything will be taken care by them.
In Sole Proprietor if unfortunate event happens and firm faces loss the owners personal assets are also gets involed. but in LLP even in such event the properties and assets in name of company only is held responsible but not even a single rupee of the owners are touched its one of the major benefit which LLP has
some extra points to consider while starting your firm.
1.) once you are naming your business make sure its unique and once you get you name and you a get a domain name (ie,, abc.com) plz go for a trademark in the name which would give you a unique advantage.
2.) make sure you have all the required documents and process properly filed (like service tax, pf, esi for employees etc)
3.) make sure you adhere to the local govt laws to avoid unwanted penalties and legal issues later.
4.) once your company has a good process and infrastructure kindly go for an ISO and similar certification which would boost your credibility.
5.) once you have enough business and reputation kindly join esteemed societies and communities like nasscom and ERA (for recruitment) to get noticed by companies and to build your brand.
Hope these might help you and also check with other seniors suggestions. but again i would suggest you to consider an LLP over Sole Proprietor firm.
Thanks
From India, Gurgaon
In Sole Proprietor if unfortunate event happens and firm faces loss the owners personal assets are also gets involed. but in LLP even in such event the properties and assets in name of company only is held responsible but not even a single rupee of the owners are touched its one of the major benefit which LLP has
some extra points to consider while starting your firm.
1.) once you are naming your business make sure its unique and once you get you name and you a get a domain name (ie,, abc.com) plz go for a trademark in the name which would give you a unique advantage.
2.) make sure you have all the required documents and process properly filed (like service tax, pf, esi for employees etc)
3.) make sure you adhere to the local govt laws to avoid unwanted penalties and legal issues later.
4.) once your company has a good process and infrastructure kindly go for an ISO and similar certification which would boost your credibility.
5.) once you have enough business and reputation kindly join esteemed societies and communities like nasscom and ERA (for recruitment) to get noticed by companies and to build your brand.
Hope these might help you and also check with other seniors suggestions. but again i would suggest you to consider an LLP over Sole Proprietor firm.
Thanks
From India, Gurgaon
Hi saima, kindly see my post above it would answer your questions. you have to check with your local govt policies if starting from home works because in certain areas starting a company other than a commercial place is against rules and will be penalized and the licence will be cancelled, kindly check on that.
Taking franchise is good but you have consider the credibility of the firm which you are planning to take but on a longer run you will not have any originality but you are one among the franchisee of that parent company, will suggest you start on your own and build your brand.
hope this helps
From India, Gurgaon
Taking franchise is good but you have consider the credibility of the firm which you are planning to take but on a longer run you will not have any originality but you are one among the franchisee of that parent company, will suggest you start on your own and build your brand.
hope this helps
From India, Gurgaon
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