RJ Consultancy Services is an eminent business platform and a progressive concept, which helps end-to-end incorporation, compliance, advisory, and management consultancy services to clients in Telangana. Incorporating a Proprietorship Firm is easy, seamless, cheapest and quickest with RJ Consultancy Services! Apart from a Proprietorship Firm, RJ Consultancy Services also helps entrepreneurs with Private Limited Company Registration, Public Limited Company Registration, Partnership Registration, HUF, One Person Company and LLP Registration easily. You may get in touch with our compliance manager on Cell:- +91– 9440400069  or Email:- info@rjconsultancyservice.in for free consultation.

Shop and Establishment

The Shop and Establishment Act regulates the shops and commercial establishments operating within the state. Every state has its own Shop and Establishment Act (“Act”). However, the general provisions of the Act are the same in all states. The Labour Department of the respective states implements the Shop and Establishment Act. 

Shops are generally defined under the Act as the premises where the selling of goods take place either by retail or wholesale or where services are rendered to customers. It includes offices, godowns, storerooms and warehouses used in connection with the trade or business. 

GST Registration

GST Registration Process in India is completely online. It requires no manual intervention or no physical paper submissions. A very simple procedure has been prescribed for GST Registration.

The GST exemption limit earlier was Rs 20 lakhs for all the businesses and services. But now with latest amendment Businesses with an annual turnover of up to Rs 40 lakh are exempted from GST. Additionally, those with a turnover up to Rs 1.5 crore can opt for the Composition Scheme and pay only 1% tax. However, for services the exemption limit of turnover is still 20 lakhs. Also, service provider having turnover up to 50 lakhs can opt for composition scheme for services and pay only 6% of tax

Hence, it would be compulsory to get GST registered only for traders, manufacturers, businesses, individuals, professionals etc, whose turnover (sales) exceed INR 40 Lakh. If your sales are less than INR 40 Lakh, you may also voluntarily opt for GST Registration in case you wish to avail the benefits of Input Tax Credit. Further, all persons who make interstate purchase or sales of services or goods have to apply for GST registration. Above limits do not apply to them.

EPFO Registration

Provident Fund (PF) is one of the main platform of savings in India for nearly all people working in Government, Private or Public sector organizations. It is implemented by the Employees Provident Fund Organization (EPFO) of India. Registration has to be done within One month from the date of hiring 20th employees. PF is the best way to provide social security to the employees.

Provident Fund PF is largely an employee benefit scheme prescribed by the Government which provides facilities to the employees of an organization about medical assistance, retirement, education of children, insurance support and housing. It is created with the purpose to provide financial security and stability to employees.

Contribution towards EPF

• Contribution to EPF is to be done by both Employer and Employee.
• Employer deducts his employees’ share of EPF from his salary.
• Employer needs to deposit the amount of his contribution of EPF along with employees deducted share.
• The Employer’s contribution to EPF would be 12% and that of employee’s would be 12%.

Why is it necessary to contribute in EPF?

• The PF contribution by an employer will be tax-free.
• The amount including the amount interest will be exempt from tax on withdrawal after a specific period.
• Organizations can also enroll themselves voluntarily under PF laws.

Note: Any delay in registration of EPF (Employee Provident Fund) may result in a penalty.

ESI Registration

The government introduced the ESI scheme for Indian workers. ESI stands for Employee State Insurance managed by the Employee State Insurance Corporation (ESIC). The ESIC is an autonomous body created by the law under the Ministry of Labour and Employment, Government of India. 

ESI scheme provides social security to the workers. Employers and employees contribute a percentage of employee’s wages towards ESI every month. Huge variety of medical, monetary and other benefits are provided to workers covered under the ESI Act.

Rate of Contribution Under ESI

The ESIC is a social security system designed to provide socio-economic protection to workers, their immediate families, and dependents. The rates for the contribution are declared by the ESIC and are revised from time to time.

The contribution includes both the employe and employee contributions. The latest revision is w.e.f. 01.07.2019 and the rates are as follows:

• Employer’s Contribution – 3.25% of the wages paid/payable.
• Employee Contribution – 0.75% of the wages paid/payable.

If the employee’s daily average wage is up to Rs.176, they are exempted from making the contribution; however, the employer must make their share of the contribution.

The Employers must deduct the employee contribution from the wages bill and must pay the employer and employee contribution at the rates specified above within 15 days of the end of the month in which contributions are made.

Designated branches of the State Bank of India and some other banks are authorised to receive the contribution on behalf of ESIC.

FSSAI/Food License Registration

Every person (natural or artificial) involved in food business, such as manufacturing, processing, storage, distribution and sale of food products must compulsorily obtain FSSAI Registration or License.

FSSAI Registration is different from the FSSAI License depending on the size and nature of the business. FBOs should obtain the necessary registration or license depending on the size of their businesses.

FSSAI Registration is a 14-digit registration or a license number that is printed on all the food packages. The 14-digit registration number gives details about the assembling state and producer’s permit. This registration procedure is aimed to create more accountability on the FBO to maintain the quality of the food products. The licensing and registration procedure and requirements are regulated by Food Safety & Standards (Licensing and Registration of Food Business) Regulations, 2011.

MSME Registration

The government of India provides a MSME registration to the Micro, Small and Medium (MSME) industries. The MSME registration helps MSMEs to obtain various benefits provided by the government for their establishment and growth. MSME industries are the backbone of the economy. They are known as Small Scale Industries (SSIs).

The MSME registration is entirely online and can be obtained from the Udyam registration portal. It is not mandatory for MSMEs to obtain this registration but it is beneficial to get one’s business registered under this because it provides a lot of benefits in terms of taxation, setting up the business, credit facilities, loans etc.