Helpful Info
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Frequently Asked Questions
General Compliance Questions
A: Yes, if you have employees, certain HR compliance requirements apply regardless of your business size. The specific requirements may vary based on factors like employee count and industry type, but basic compliance with labor laws is mandatory for all.
A: Basic requirements include:
- Proper employment contracts
- Shop and Establishment registration
- Professional Tax registration
- Employee documentation
- Minimum wage compliance
- Basic safety standards
A: Labour laws and compliance requirements can change multiple times throughout the year. Major changes typically occur annually, but amendments and notifications can be issued at any time.
Cost and Penalties
A: Penalties vary based on the violation but can include:
- Imprisonment in severe cases
- Monetary fines (ranging from thousands to lakhs)
- Business license suspension
- Legal proceedings
- Personal liability for directors
A: While costs vary by business size and industry, maintaining compliance is always less expensive than facing penalties. Working with an HR compliance partner like Bonitas often reduces overall costs through efficiency and risk prevention.
Implementation and Management
A: With expert help, basic compliance can typically be achieved within 30 days. However, implementing comprehensive systems and processes may take 2-3 months, depending on your current situation and business complexity.
A: Essential documents include:
- Employee records and contracts
- Attendance and leave records
- Wage and salary records
- Safety certificates
- License registrations
- Statutory forms and returns
Industry-Specific Questions
A: Yes, while basic compliance requirements are common, specific industries have additional requirements. For example:
- Manufacturing: Factory Act compliance
- IT: Special economic zone regulations
- Hospitality: Food safety and service regulations
- Education: Academic institution-specific rules
A: Additional compliance requirements typically kick in at specific employee count thresholds:
- 10+ employees: ESIC becomes applicable
- 20+ employees: PF becomes mandatory
- 50+ employees: Additional labor law requirements apply
Working with Bonitas
A: Our services include:
- Initial compliance assessment
- Documentation and registration
- Ongoing compliance management
- Audit preparation and support
- Training and updates
- Query resolution
A: We can begin immediately with:
- Day 1: Initial assessment
- Week 1: Gap analysis and action plan
- Week 2-3: Implementation of basic compliance
- Week 4+: Advanced compliance systems
A: Bonitas offers:
- 14+ years of specialized experience
- Comprehensive compliance solutions
- Industry-specific expertise
- Proactive risk management
- Dedicated support team
- Cost-effective solutions
