TAX AUDIT is review of accounts of the business organization or an individual in respect of income and deductions. Section 44AB under Income tax contains the provision for conducting the TAX AUDIT which aims to ascertain the compliance of various provisions of the Income-tax Law and the fulfillment of other requirements of the Income-tax Law. The audit is conducted by the chartered accountant and his observations are recorded in tax audit report.

Who are entitled to get tax audited?

AUDIT FOR BUSINESSES

Any person carrying on a business whose total sales, turnover or gross receipts exceeds Rs.1 crorein previous year

AUDIT FOR PROFESSION

Any person carrying on whose gross receipts exceeds Rs. 50 lakhs in previous year

Turnover Limit for Audit

(With effect from the finance act 2017)

Objectives of Tax Audit

Tax audit is being conducted to achieve the following:

• A proper system ensures maintenance of its record of income, revenue, expense etc in a correct and verified manner.
• Tax audit minimize the risk of frauds and  other illegal practices
• In case of discrepancies, there is an ease of methodical examination of the well-maintained record.
• It also facilitates the implementation of tax laws during routine verification since proper presentation of accounts saves time of the assessing officer

Due Date for Getting Account Audited

A person required to get audited should get its account audited on or before 30^th September of relevant assessment year.

PENALTY FOR NON-COMPLIANCE

If any person who is required to comply with section 44AB, does not do so, as per the prescribed manner, a penalty may be imposed by the Assessing Officer which may be:

(a) 0.5% of the total turnover, sales or gross receipts, in business, or of the gross receipts in profession of an individual, in such year or years as under scrutiny, OR

(b) Rs. 1,50,000.

Whichever is lower

However, Income tax also contain the provision that if there is a reasonable and bonafide cause penalty may not be imposed.

Source url - http://amusecandy.com/blogs/post/507665

MSME stands for Micro, Small and Medium Enterprises. MSME registration is required for each and every micro, small and medium enterprises to get benefits of various incentives provided under the Micro, Small and Medium Enterprises Development Act (MSMED Act).

In this blog, we will briefly discuss about MSME registration. Here we will cover:

• What is MSME registration?
• Who can apply for MSME registration?
• Is it mandatory to obtain MSME registration?
• Benefits of MSME registration
• MSME registration Process
• Documents required for MSME registration

Let's start the journey!

Who can apply for MSME registration? 

Any type of business entity can apply for MSME registration. List of the business entities who are entitled to apply for MSME registration is given below:

• Proprietorships
• Partnership firm
• One person company
• Limited liability partnership
• Private Limited Company
• Producer Company
• Any association of Persons

Is it mandatory to obtain MSME registration?

MSME registration is not mandatory until yet but it is advisable to obtain MSME registration because it provides a lot of benefits in terms of taxation, setting up the business, credit facilities, loans etc.

Benefits of MSME registration

There are numerous benefits of MSME registration and some are discussed below:

• Easy to get a bank loan - Once you obtain the MSME registration, then you can easily get a bank loan.
• Subsidy on Patent registration - Through MSME registration, a business entity and enterpriser can avail 50% subsidy on patent registration.
• Industrial promotion subsidy - Enterprise having MSME registration is eligible for Industrial promotion subsidy.
• Concession in electricity bills - Those who have MSME registration are entitled to get concessional benefit in respect of electricity bills.
• Protection against delay payments - By obtaining the MSME registration, any enterprise can get protection against delay payments. 
• Government Tenders - A MSME registered enterprise can be easily selected for a Government tender.

MSME registration Process

MSME registration can be done through online as well as through offline. The process of MSME registration is given below:

1) Visit the website - To obtain MSME registration, first of all, visit the website as prescribed by the government

2) Filling up Registration Form- After successful login, you have to select the register option and then need to fill up MSME registration form along with various documents like:

• Aadhar card number
• Validation of Aadhar
• Gender ID of the entrepreneur
• Name of the enterprise
• Type of your organization
• f)PAN
• Location of your plant
• Residential address
• Your previous registration details, if any
• Bank details

3) Submission of Form - After fill up the registration form you need to submit same.

4) Issuance of MSME Registration - Upon successful submission of the Registration Form and after proper verification of the Registration Form, the concerned authority will issue MSME registration certificate.

Documents required for MSME registration

List of the documents required for MSME Registration is listed below:

• PAN of the enterprise
• Bank details
• Aadhar card
• Proof of ownership of premises
• Copy of licenses and Bills of Machinery purchased
• 6)Copies of Sale/Purchase bills
• Partnership deed

Conclusion

MSME acts as an engine which helps in the growth of the economy and promoting equitable developments. Enterslice provides world's best service in a matter of MSME registration. If you are planning to apply for MSME registration, then kindly contact the expert team of Enterslice to get best and affordable service.

Source url - https://enterslice1.wordpress.com/2019/02/04/easy-steps-for-msme-registration

NGO stands for Non-government organizations which are formed to support the underprivileged sections of the society and help in the management of different issues such as social, cultural, legal, and environmental, art, science etc. There is no intervention from government in the functioning of these NGOs. People voluntarily give their name to contribute to the functioning of the NGO. In this blog we will discuss about the NGO registration.

Topics covered under this blog:

• What are the types of NGO registration?
• What is the process of NGO registration in the form of trust?
• What is the process of NGO registration in the form of society?
• What is the process of NGO registration in the form of section 8 company?

What are the types of NGO registration?

In India, NGO registration can be done in three ways. The Indian Trusts Act, 1882, Society Registration Act, 1860 and companies Act, 2013 governs the NGO in the form of Trust, society and Section 8 Company respectively.

Further, we will look into the procedure of forming these NGOs-

What is the process of NGO registration in the form of trust?

For NGO registration in the form of trust you need to clarify the following-

• Purpose of creating a trust
• Idea behind the trust
• Beneficiary details
• Properties of the trust assigned by the assignee

Further below mentioned steps will be carried out for NGO registration:

• STEP1: Naming an NGO

The first step is to come up with the name for your NGO

• STEP2: List of members of the trust 

You need to specify, who will be the settler, trustees (at least 2) and beneficiaries for your NGO.

• STEP3: Memorandum of Association (MoA)

You have to frame a Memorandum of Association (MoA) and trust deed which must include all the key provisions and clauses. Trust deed is executed on the stamp paper that should be of value in accordance with the laws prescribed by the government.

• STEP4: Submission of signed deed

All the trustees and settler has to sign the trust deed, and register it with the local registrar of the area, where the NGO will be functional.

What is the process of NGO registration in the form of society?

 There are certain steps that need to be followed for the NGO registration in the form of society-

• STEP1: Naming the Society 

The first step is to select the name for your NGO.

• STEP2: Formation of Governing Body

You need to decide upon the governing body of the proposed trust.

• STEP3: Memorandum of Association (MoA)

Then you are required to make the memorandum of Association and by-laws of the proposed society. It consists of all the rules and regulations in relation to the registration and operation of the Society.

• STEP4: Submitting Documents

At last, you just need to submit the MoA (Memorandum of Association), documents regarding the rules and regulations of an NGO, and other registration documents.

You have to submit all these documents with the registrar of the state, where the proposed NGO will be operating.

What is the process of NGO registration in the form of section 8 company?

Below are the steps to be followed for the NGO registration in the form of section 8 company registration-

• STEP1: Obtaining the Digital signatures

The first step is to obtain the digital signatures for all the proposed directors of the company. These digital signatures will be required to sign the application of incorporation and few other related documents.

• STEP2: Naming the Section 8 Company

There is a RUN service available on the MCA portal, which you can use for the name approval of the NGO. You will be allowed to propose 2 names for the proposed Company.

• STEP3: SPICE form

This is the main step under which incorporation application is filed in SPICE form along with the necessary documents like MoA (Memorandum of Association), AoA (Article of Association) of the company. If the proposed directors of the company do not posses DIN then they can directly apply for DIN (Director Identification Number) through SPICE form.

• STEP4: Form INC-12

You need to submit an online application in Form INC-12 to the respective ROC to get the license issued.

• STEP5: Formation of an NGO

After the proper inspection of the application of registration by ROC, License will be issued; along with the Company’s PAN&TAN number.

Hope you have a clearer picture regarding the NGO formation in India.

For more information please contact Enterslice.

Source url – http://enterslice.blogrip.com/2019/01/07/what-are-the-options-for-ngo-registration/

EPF stands for employees provident fund, this scheme is governed by the Employees' Provident Funds and Miscellaneous Provisions Act, 1952.  It comes under one of the largest social security organizations. It plays an important role during the retirement period of an employee.

Further, in this blog, we will discuss what is EPF? and how to register under it?

Steps involved under EPF registration

Below are the steps, need to be followed for the PF registration-

STEP1: Obtaining the EPFO registration

The first step is to visit the website of EPFO. Once you have landed upon the website, you just need to click on the option Establishment Registration.

STEP2: Go through the User Manual

When you click on the Establishment Registration, you will come across an Instruction manual. You must read the Instruction manual, if you are doing this for the first time.

STEP3: DSC registration

If the employer is already registered, then they just need to provide the credentials (Universal Account Number [UAN] and password). You can take a look at the Instruction manual for registration instructions and Digital signature certificate (DSC) of the employer.

If you are filing a fresh application, then you must have the DSC beforehand.

STEP4- Fill the details

Once you are done reading the instruction manual, you just need to move ahead to the EPF Registration process by ticking on. You will land on the new page, where you will be asked to fill the employer's detail.

STEP5: Details asked in the registration form

In the registration form, you need to mention the following list of details-

• First name, middle name, and last name. It must be similar to the name furnished to the Income-tax department. If the name doesn't match, it may lead to the problems such rejection of the application.
• Then you will be asked to enter the employer's PAN after there will be a pop up saying the employer is not registered previously. It will also be verified.
• You need to create a user name of your choice, and the system will let you whether your proposed username is available or not.
• There will be a few hint question/answer which would be helpful, in case you forget your User id or password.
• You will finally receive a PIN on your mentioned mobile number, you just need to agree with the above declaration.
• There will be an email link as well sent to your e-mail ID, to confirm the submission of an application.

We wish you all the luck for all your future ventures. For any query, please contact Enterslice.

 Source url - http://entersliceindia11.emyspot.com/blog/legal-service/what-is-epf-and-how-to-register-under-it.html

Have you ever heard people talking about import export business? I heard few talking about their import export business the other day, they were discussing few insights, I never knew. It stuck to my mind, there would be so many people like me, who must be unaware of the details of this kind of business and I decided to write this blog to educate you regarding the same business.

Further, we will discuss the detailed procedure of getting the import export license.

Online registration process of getting import export license

 There is an online application available that needs to be filed with the Directorate General of Foreign Trade (DGFT). It takes around 15 to 20 days to issue the import export code by DGFT.

Let’s a take a look at the steps need to be followed to get the import export code in India.

• STEP1: Filling an application form

The first step is to fill an application form in the specifies format (Aayat Niryaat form no. 2A) and file it with the Regional office of DGTF

• STEP2- Attaching the documents

The second step is to provide the documents such as address proof, identity proof, bank details along with a certificate in respect of ANF2A.

• STEP3- Signing of application and submitting the fees

When you are done with filling the application of import export code, you need to digitally sign the application and finally submit it to the DGFT along with the prescribed import export license fees.

• STEP4- Certificate of IEC

After the approval of your application of IEC code, you will receive a soft copy of IEC code from the government.

Let’s talk about the list of documents required for filing the application of IEC.

List of documents required for the IEC Code Online

Below the list of documents for getting the IEC code online-

• You need to submit the copy of PAN card
• You have to provide the copy of Aadhar card, or passport or voter ID
• A cancel cheque copy of the current bank account
• A copy of rent agreement or electricity bill of the business premise

If you are looking to get IEC registration for your import export business, do contact Enterslice. We have a team of professionals who has helped a number of clients in the past.

Source url - http://www.enterslice.gomilio.com/en/blog/detailed-procedure-of-getting-the-import-export-license-39

Have you ever owned a business, company or an organization, or are closely related to any of these in the past. If yes then you must be aware of the number of activities going around to make the business successful. It requires a lot of planning, decision makings, and other relevant steps.

Are you aware of the fact that, now a day any start up needs a proper business plan to work in the future to make profits. There are business consultants who are specifically dedicated to sketching out the business plan, in accordance with the needs and requirement of the company.

Further, in this blog, we will discuss the key features of any business plan,

What are the highlights of any business pan?

Any business plan must consist the following features-

• Executive summary.
• Business model.
• Marketing strategies.
• Competitive analysis.
• Technology & product plan.
• Operations and management plan.
• Revenue plan.
• Financial Projections.
• Business Valuations.
• Investment offerings.

At what point of time the business plan is required?

 There are few reasons behind hiring a business plan consultant for your company, if you are looking to make a business plan for your company, then you must know why and when the business plan and business plan consultant is required?

• Business plan consultant is required at the beginning of every financial year.
• For better growth of your business, you need to forecast your business plan annually, quarterly or even monthly at the beginning of the new fiscal period.
• Whenever you are looking to get the funding, either SEED/ Venture funding, you need to have a business plan
• To cope with the market change, avoid the future hindrances in the business management
• At the time of launching the new product, developing a new product, technology, service etc
• If there is a change in the management at the top or middle level

These were all the basics of the business plan. Hope you have a better knowledge of the business plan requirement.

For any query regarding this, please contact Enterslice.

You must have seen the ads or heard about NGOs in India. NGO basically stands for Non-profit organizations. The purpose of setting up an NGO is to promote and support the underprivileged section of the societies which include issues such as social, cultural, legal, environment, art, science etc. These NGOs are operated on a voluntary basis by the citizens, with no interference from the side of the state or central government.

Further, we will discuss the NGO registration types in India, how to register them etc.

Different modes of NGO registration in India

All the NGOs we see are registered under different acts and follow the rules and regulations accordingly.

There are three modes of registering the NGO in India-

• NGO registration in the form of trust (Regulated by The Indian Trusts Act, 1882)
• NGO registration in the form Society (Regulated by the Society Registration Act, 1860)
• NGO registration in the form of Section 8 Company (Regulated by the Companies Act, 2013)

Let’s take a look at the different NGO registration process one by one.

How do we register the NGO as a Trust?

For trust registration in India, you need to follow the steps mentioned below-

STEP1- Choosing a name

The first step is to choose the name for an NGO

STEP2- Deciding settlor, trustees etc

The second step is to determine the settlor, at least 2 trustees and clearly mentioning the beneficiaries

STEP3- MOA, by laws, trust deed

You need to draft a MOA, by laws and execute the proper trust deed, specifying all the key provisions and clauses.

STEP4- signing the deed

The trust deed must be signed by all the trustees and settlor. And it must be registered with the local registrar of the area, where the office is located.

How do we register the NGO as a Society?

If you want to register your NGO in the form of Society, then you have to follow the below mentioned steps for society registration -

STEP1- Choosing a Name

The initial step is to come up with an apt name for your NGO

STEP2-Governing body

The second step is to decide upon the governing body of the proposed trust

STEP3-MOA, by-laws

In this step, you need to draft the MOA (memorandum of association) and by-laws of the proposed society, specifying all the rules and regulations regarding the operation of NGO.

STEP4-Submission of documents

Once you are done with the preparation of the documents, you have to submit these forms with the registrar of the society of state, where the NGO will be functioning.

How do we register the NGO as Section 8 Company?

Forming an NGO in the form of section 8 company requires you to follow a really simple procedure. Below is the step by step process of section 8 Company registration-

STEP1- Digital signatures

You need to obtain the digital signatures for all the proposed signatories. As these will be required to sign the application of NGO registration and other forms as well

STEP2- Choosing a name

For this, you can propose two names that must not resemble any of the already existing registered names. There is a RUN service available on the web portal of MCA, which can be used for this.

STEP2- SPICE form

The second step is to draft the AOA (Article of Association), MOA (Memorandum of association) and other required declarations.

Along with this, you need to file the INC12 form with ROC for the issuance of the license.

STEP3- Certificate of Incorporation

Once you have submitted the application of registration, it will be thoroughly inspected by the authority. And the certification of Incorporation will be issued on approval.

Source url - https://www.youpals.com/blogs/3450/19946/explain-in-detail-ngo-registration-types-in-india

Have you ever heard about the term audit or tax audit? Who does this work tax audits? Take a deep breath we will answer all your questions one by one. It basically involves the verification of the accounts maintained by the assessee. Auditors validate the Income the tax computation and compliance with the laws of income tax. A certified chartered accountant carries out the auditing of accounts.

Further, we will discuss the tax audit limit, audit due date etc.

What do you understand by tax audit limit

There are certain tax audit procedures and tax audit limit, whose provisions are mentioned under the section 44AD of the Income Tax. Let’s take a look at what are the limits and basically who all have to undergo Tax Audits.

In accordance with the Section 44AB, a tax audit is required by the business entities, working professionals, and person who are already enrolled under the Presumptive Taxation Scheme.

In the case of Business

If you operate a business in India, and your total turnover sales or gross receipts are more than Rs. 1 crore in any of the previous year, then there would be a requirement of Tax Audit.

In accordance with section 2(3), business is defined as any trade, commerce, manufacturing activity or any adventure or concern in the nature of trade, commerce, and manufacture.

In the case of a Profession

If you are a working professional and your gross receipts in that profession are more than Rs. 50 lakhs in any of the previous year, then there would be a tax audit.

If you are wondering, what all professions are involved in this, there is a list mentioned below-

• Engineer
• Legal Professionals-Advocate or lawyer
• Technical consultant
• Accountant
• Technical Consultant
• Medical Professionals-Doctor, Physiotherapist etc
• Architect
• Authorized Representative
• Interior Decorator

In the case of the Presumptive Taxation Scheme

There is a presumptive taxation scheme available under section 44AD, if you are enrolled under this scheme or the annual turnover or sales exceeds Rs. 2 crore then there would be a requirement of a tax audit.

You have to obtain the tax audit report if you are already enrolled under the presumptive taxation scheme (Even if the profits made by you, are lower than the mentioned amount under the presumptive taxation scheme).

Hope you have an idea by now, regarding who has to obtain the tax audit reports and what are their limits.

Have you taken a note of next due date of tax audit reports? 

The tax audit due date for 2019 has not been announced yet by the Income-tax department. But still, just to give an idea; for the year of 2018, the tax audit due date was 30^th September.

Keep yourself audit ready beforehand.

For more information, please contact Enterslice.

 Source url - https://enterslice-india9.webnode.com/description-of-tax-audit-limit-and-due-date

If you have a business or an enterprise, you must have heard, recommended by someone regarding the MSME/SSI registration. MSME is known as the Micro, Small, and Medium Enterprises.

There MSMEs are regulated by the MSMED Act. MSME/SSI registration process is not mandatory. However, it is always advisable to have the certificate of MSME registration for your business so that you could avail the benefits provided under the various schemes launched by the government for MSMEs.

Further, in this article, we will discuss the MSME/SSI registration process, documents required for the MSME registration etc.

Process of online SSI registration

There are certain steps that need to be followed for the SSI registration, however, it can be canceled at any time when your business turnover crosses the limit prescribed by the government.

Let’s take a look at the steps to follow for the MSME registration-

• In accordance with the rules and regulations under the MSMED Act, you need to fill an online application with the respective department.
• Applicants have to provide the details of the business they want to operate and submit all the necessary documents.
• Applicant’s Aadhar number
• Few basic details of an applicant such as name, gender, PAN number, email ID and mobile number
• Few basic details regarding the enterprise, such as PAN, the location of setting up a plant, the address of the business place, date of starting the business, number of employees involved in the business.
• Bank Account Number and IFSC code
• The Basic activity of the business/enterprise
• NIC 2 digit code
• Details of the investment made in the plant & machinery/ Equipment

It takes around 2-3 working days for the complete documentation of MSME registration.

Let’s take a look at the documents for the MSME registration.

List of Documents required for the MSME/SSI Registration

If you are looking to register your own MSME in India, then you must keep in mind to collect all these documents at the time filing the application of MSME registration-

• PAN card of the proprietor/ all the partners/ all the directors
• Aadhar card of the proprietor/ all the partners/ all the directors
• You need to submit the ownership proof of the business premises such as allotment letter/ possession letter/ lease agreement/ property tax receipt.
• In the case of the rented premise, you have to submit the rent agreement and no objection certificate (NOC) from the landlord and attach the utility bills to it.
• Copy of sale bill of each end product
• Copy of purchase bill of each raw material purchased
• Copy of partnership deed, if you have a partnership firm
• You have to draft a Memorandum of Association, certificate of Incorporation, board’s resolution (In case of a private limited company)
• Copy of Industrial License, obtained under the Industrial Development and Regulation Act, 1951
• You need to submit an affidavit on Rs. 10 non-judicial stamp paper that has to be duly attested by the Notary Public affixed. It must mention the status of the machinery installed, power requirement etc.
• Purchase bill of the machinery installed
• Bills of all the plants and machinery purchased and their installation
• Bank Account Statement

This is the MSME registration procedure in India and list of documents required for the registration of MSMEs.

For any query do contact Enterslice.

Source url - https://www.youpals.com/blogs/3450/19929/what-is-ssi-registration-process

Before we start with the facts about Sin Tax, let us ask you a question. Are you sinning? Aren't you sure? Fine, let us then ask you a few more questions. Do you smoke, consume alcohols, eat tobacco or paan masala, take drugs, etc.? If yes, then you are unquestionably sinning. You might be thinking how these could be sins. And the answer is because such products affect human health and aren't safe to consume.

To your surprise, the Government of India has imposed the highest tax on sinning products because of certain reasons described later in this blog.

Therefore, in this blog, we aim to make you aware of the various aspects of Sin Tax in India. Here, we have discussed five facts that we are sure a very few of us know. So, let's get started without making any more delays-

What is meant by Sin Tax?

Sin tax is an excise or sales tax levied on the purchase of certain goods that are harmful to society and individuals. For instance, items such as drugs, cigarettes, alcohol and tobacco, soft drinks, fast foods, beverages, pornography, and gambling are injurious to health as well as for society.

Sin Tax is also applicable to luxury cars since they contribute to emitting pollution in excess. Everything that damages the environment and affects the people and society whether directly or indirectly comes in the category of sin.

5 Unknown facts about Sin Tax in India

Until now, we have understood what Sin Tax is and why the government has imposed this tax. But there are a few things that we aren't still aware of, and that's what we will learn in this blog. So, let's have a look below at some surprising facts on Sin Tax-

• The Government has imposed the highest tax rates on Sin goods

Yes, it's true. Currently, in India, the GST council has proposed a 4-tier rate structure with two standard rates 12% and 18%, a lower rate of 5% for the essentials and a higher rate of 28% for sin items and luxury goods.

• The reason for the highest tax is to lower the consumption of sin items

Well, it could be somewhat shocking to all, but yes that's the reason. In fact, there are two main reasons why the government of India has imposed the highest tax rates on sinning items. They are as follows:

• To discourage the consumption of undesirable goods;
• To force industries producing these goods to pay higher taxes so that they can be used to fund other welfare expenditure.
• 
  
• Panels suggest higher sin tax of 40% on tobacco and alcohol

Based on the article published in Times of India, the Niti Aayog has proposed and suggested a higher Sin tax of 40% on the items such as tobacco, alcohol, and unhealthy foods such as sugar-sweetened beverages and soda, etc.

Such items contribute to air pollution, malnutrition, and dietary risks which are the biggest contributors to disease burden in India.  The reason behind the tough measure is to upgrade the country's public and preventive health system.

• WHO recommends countries to impose at least 75% or more on Sinning goods

WHO, known as the World Health Organization, prescribes countries to impose the tax of at least 75% or more of the retail price to achieve the dual objective of reducing the use or consumption of tobacco and alcohol and for increasing government revenue?

• Sin Tax in India is very low as compared to other countries 

Despite imposing the highest tax on sinning items, India is still known to have imposed the lowest tax rates on tobacco and alcohols as compared to other middle-income countries, including those in South Asia.

Conclusion

Whatever tax percentage has been imposed on sinning items, it's clear that the prime purpose of imposing Sin Tax is to achieve the dual objective of lessening the use of tobacco and increasing the government revenue to be used for other welfare associations. If you are still in doubts, for GST Registration then contact Enterslice. Our team of experts will help you with your queries.

Almost every employee seeks medical benefits from the organization they work in, and even there's a scheme for the same. That scheme is ESI which stands for Employee State Insurance. The Employee State Insurance Corporation manages ESI. ESIC is a self-governing body formed under the Ministry of Labour and Employment, Government of India.

Under the ESIC scheme, workers or employees of the organization can avail various medical, monetary and other benefits by the employer.

Any company that consists of more than 10 employees (in some states it is 20 employees) and has a maximum salary of Rs. 21000 per month or less has to mandatorily register itself with the ESIC.

Under this scheme, the employer contributes 4.75% of the total monthly salary payable to the employee. However, an employee contributes only 1.75% of his monthly salary.

Employees whose salary is less than Rs. 100 per day are exempted from his contribution to the ESI scheme.

In this blog, we are going to talk about the documents required for ESIC registration. Apart from that, we will discuss a few more things as follows:

• The significance of ESIC registration
• Benefits of ESIC registration in India
• Documents required for online ESIC registration in India
• How many times the returns should be filed every year after the registration?

The significance of ESIC registration for Employer

We all are aware that ESIC registration helps employee as well as their dependent with excellent medical care. But a very few of us are aware of how it helps the employer. Here’s how-

Under the ESI Act, the employer secures legal liability which can arise from any mishappening, incident or accident at the workplace. If the employer is registered with ESI and any such incident occur at the workplace with the employee, the ESI Corporation will bear all the expenses of the employee.

Benefits of ESIC registration in India

Under the ESI scheme, employees and their dependents can avail the following benefits:

• A complete medical benefit to the employee and his/her family members;
• Sickness benefits at a rate of 70%;
• Maternity benefits to the pregnant women;
• In the case of employee death at the workplace, 90% of his/her salary will be given to his dependents;
• The same holds true for the disability case;
• Funeral expenses will also be borne by ESIC.

Documents required for ESIC registration in India

 In order to obtain ESIC registration, the applicant is supposed to submit the following documents:

• A registration certificate obtained under either the Factories Act or Shops and Establishments Act;
• In case of a company, Certificate of Incorporation, and Partnership Deed in case of Partnership;
• Memorandum of Association (MoA) and Articles of Association (AoA) of the company;
• One canceled cheque of the bank account of the company;
• A list of all the directors in the company;
• A list of all the shareholders of the company;
• Compensation details of all the employees in the organization;
• PAN card of the business entity as well as the employees working under it;
• A register containing the attendance of all the employees.

How many times the returns should be filed every year after the registration?

After you have obtained the registration, you need to file ESI returns twice every year. For filing the returns, you will require to submit the following documents:

• Form 6-Register;
• A register containing the attendance of all the employees;
• A register indicating the wages of the employees;
• The monthly returns and challans;
• A register containing the details of any incidents occurred at the workplace or within the premise.

Hence, these are all the documents required for ESIC registration. If you want to know the ESIC registration process or want to register your company under the ESIC scheme, then contact one of India’s leading consultant, Enterslice.

Source url - https://enterslice-india9.webnode.com/documents-required-for-esic-registration/

What is Society Registration?

A society registration is an act of registering a society under the Society Act, 1860 for the following purposes:

•        Development and promotion of fine arts;

•        Promotion of literature and science;

•        Creating awareness for charitable assistance and military orphan funds;

•        Diffusion of political education;

•        Maintenance or foundation of galleries/ public museum/reading rooms/libraries;

•        Promotion or instruction of useful knowledge.

Simple procedures for Society Registration 

A minimum of 7 persons is required to form a Society. Apart from Indian citizens, foreigners, as well as other registered societies, can also register for the Memorandum of the society.

There are just two steps involved in registering a society. For Society Registration, it is mandatory for establishing members to agree with the name of society first and then prepare the Memorandum, followed by Rules & Regulations of the society.

Step1: Selection of a Name

According to the Society Act, 1860, it is mandatory to keep in mind that the selected or chosen name for the society incorporation must not match with existing society name.

Furthermore, the proposed name must not suggest for any patronage of state government or government of India. Also, the proposed name shall not fascinate the provisions of Emblem Names Act, 1950.

Step2: Prepare Memorandum of Association

Along with Rules & Regulations of society, the Memorandum of Association must be signed by every establishing member.

Step3: Submit the application with Registrar of society

Once all the documentation is done with the application is submitted with the Registrar of society. If after due consideration of the application if the registrar is satisfied then it will approve the application and register the name of the society in its record and intimate such effected registration to the applicant.

Moreover, the memorandum should contain the details of members of the society registration along with their names, designations, and occupations.

Documents prepared, submitted, and signed for the sake of society registration are as follows:

•        A copy of Memorandum of Association of society along with certified copy;

•        A copy of Rules and Regulations of society along with a copy duly signed by all establishing members;

•        A covering letter requesting society registration, signed by all establishing members;

•        Address proof of the registered office of society;

•        No-Objection Certificate (NOC) issued by the landlord;

•        Affidavit attested by secretary or president of society declaring relationship among subscribers.

Benefits of Society Registration

There are several benefits of registration a society under the Society Registration Act, 1860. Though it is not mandatory to register, it is always recommended to get the society registration done to avail various benefits as follows:

       After the society registration process, the society becomes a separate legal entity.

       A registered society can rent, lease, buy and sell the property, borrow money and enter contracts in its own name.

       A registered society will continue to be the separate legal entity even if its membership changes.

       Members of society won't be personally liable for the debts, contracts or other obligations unless:

•        The debts or obligations are sustained from the activities accepted to obtain money for commercial gain. In this case, every member involved will be personally liable for those debts and obligations; or

•        The debts and obligations are sustained through unlawful activities. In this case, every member involved will be personally liable for the debts and obligations.

       A registered society may be entitled to an income tax exemption. 

For any queries regarding Society Registration process, you can contact our team of Enterslice.

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