The Employee State Insurance Corporation (ESIC), which has been established by law under the Ministry of Labour and Employment of the Government of India, manages the Employee State Insurance program. A wide range of medical, monetary, and other benefits are provided to Indian workers under the ESI Act by contributions made by both employers and…
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Registration with ESI has many Benefits
An ESI Act was passed in 1948 to prevent workers from experiencing financial hardship when they are sick, pregnant, disabled, occupationally ill or die due to an employment injury – resulting in a loss of wages or earnings capacity. Factory employees of more than 10 people must register with ESI. In this article, we discuss…
Your business can benefit from a bookkeeper in five ways
If you run a very small business, you might be the bookkeeper – at least until you can afford to hire someone. Your business will start to make sense when it reaches a certain size to hire someone to do the bookkeeping. Accounting & bookkeeping services can assist you in five ways: Allows you to concentrate…
Limited liability partnerships have many benefits
LLPs are business structures that combine aspects of partnerships and limited liability companies. In 2001, the Limited Liability Partnership Act 2000 made it possible to form an LLP in the UK. For industry professionals such as accountants and solicitors, who most often operate as partnerships, the LLP is the most popular incorporated business structure. Find…
State Codes and Jurisdictions for GST
For states and unions, GST State Codes are required. Delhi’s GST state code is 07, while Karnataka’s GST state code is 19, West Bengal’s GST state code is 09, and Uttar Pradesh’s GST state code is 19. Businesses and professionals can register for GST by choosing a region, a PIN code, or another region. A…
Optimizing tax savings as an NRI while living and earning abroad: five tips
It is possible to pay tax twice as a non-resident Indian. The host country will tax your foreign income if you live and earn abroad. You will have to pay tax on the Indian income in India if you still own investments, assets, or business transactions in India. Making the most of tax deductions and…
How Does a Financial DD Report Work?
The FDD report summarizes the findings of the FDD process in an objective manner. It should provide recommendations to improve the business performance of the targeted company in light of the issues discovered during the investigation. A summary of the analysis should also be included in the report. Audit vs Financial Due Diligence The FDD…
In what way does gift deed stamp duty work?
A gift of a house in India carries a certain amount of income tax. The income tax and stamp duty associated with the gift deed in India differ from state to state. In general, gift deed stamp duty can range within the range of 2% and 7% of the property value. Charges associated with gift…
What are the Steps for Conversion of Partnership Firm Into LLP?
Limited Liability Partnerships (LLPs) are much better business vehicles than regular partnerships. They remove excess regulations of the Indian Partnership Act of 1932, which are impacted by personal liabilities. Furthermore, there are tax benefits, no audit requirements below a certain capital, and no cap with regard to the number of partners or capital contributions requirements….
Are there any benefits to freelance agreements?
Freelancers should be aware that establishing a freelance contract is crucial before starting out. Even so, it is surprising to see that only two-thirds of freelancers use them, according to the survey. There are cases of publishers changing terms on freelancers without notice, and 54% of freelancers report clients not fulfilling payment requests in a…