I have formed a new PVT LTD company -started operation since nov-15,12. Total staff strength is 07, Myself and my brother are Directors. We are into fundraising . I wish to know (1) whether PF / ESI and any other such thing are compulsory. (or we can give a flat lumpsum salary). If Yes what is the ideal Salary Structurefor employees? (2) How many CL, sick leaves medical leaves etc. are compulsory to give to staff while operating as PVT LTD company?
From India, Mumbai
From India, Mumbai
Hello !!
PF is compulsory when employee strength increases above 20 (soon to become 10) & ESIC when it increases to 10. If you are planning to increase the manpower then yes, you'll have to register yourself accordingly.
Their is nothing like ideal salary structure. Companies form as per its requirement. You can have components of Gross salary like basic, hra, medical allowance, conveyance allowance, lta, special allowance etc. PF will be calculated on Basic & ESIC on Gross Salary.
Minimum leaves you need to give is 1 leave for every 20 days worked. Maximum is at company's discretion.
From India, Ahmedabad
204PF is compulsory when employee strength increases above 20 (soon to become 10) & ESIC when it increases to 10. If you are planning to increase the manpower then yes, you'll have to register yourself accordingly.
Their is nothing like ideal salary structure. Companies form as per its requirement. You can have components of Gross salary like basic, hra, medical allowance, conveyance allowance, lta, special allowance etc. PF will be calculated on Basic & ESIC on Gross Salary.
Minimum leaves you need to give is 1 leave for every 20 days worked. Maximum is at company's discretion.
From India, Ahmedabad
Dear Venkatesh
Rightknow you dont need to apply for PF & ESI but your in the manufacturing sector then its manadatory for your safety that u can apply for ESI PF though your strength is lesst tahn 9.
whta typr of manpower u r using its not clear but you can offer the salary atlest maintaining min wages provision.
Devendra
From India, Pune
Rightknow you dont need to apply for PF & ESI but your in the manufacturing sector then its manadatory for your safety that u can apply for ESI PF though your strength is lesst tahn 9.
whta typr of manpower u r using its not clear but you can offer the salary atlest maintaining min wages provision.
Devendra
From India, Pune
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Employee Appraisal Form new.doc