Himanshu Sharma (n/a) 31 December 2007

Checklist Required

Dear Friends

I am working in an IT company with offices all across India. I am expected to carry out Statutory audit under below mentioned acts.

1. Minimum Wages Act.
2. Shops & Establishment Act.
3. Factory Act.
4. Contract labour Act.
5. ESI Act.
6. PF Act.
7. Payment of Gratuity Act.
8. Payment of Bonus Act.
9. Contract labour Act.

I would request you all to please send to me the checklist under the respective acts which I could use to carry out the Audit.

Looking forward to positive and prompt reply from your side.

Thanks

Himanshu Sharma

Reply Follow

10 Replies

Shambasiv (n/a) 31 December 2007

I have attached the compiiance check list for various acts

pradeepiyengar (n/a) 10 January 2008

Quite Good. :)

nivedita kaushik (n/a) 16 January 2008

[user=1031]manojkelker[/user] wrote: I have attached the compiiance check list for various acts"

Dear

Manoj

Could u tell me plz the ctc means.

for exmpl. in our company salary breakup is like this.

basic,hra,conveyence allow.,special allwn,edu all,washing all,uniform allwn,.

and if we offer 84000/pa ctc.

so how can i make salary breakup.

we pay extra money for mobile exp.,we provide food facility without any charge.

m still confuse about ctc.

please reply me about standard breakup rule in this case.

nivedita

Shambasiv (n/a) 16 January 2008

The contents of the salary break up is as below, you can prepare it at the suitability of your own. HRA would be 40 to 60% of basic.

Basic
HRA
TA
Other Allowance
Mobile Reimbursement / Month
Gross Per Month = Sum of all the above.
Gross Per Annum= 12*Gross/Month
PF Contribution= 12% of Basic/Annum
ESI Contribution = 4.75% of Gross/Annum
Medical = The mediclaim facility provided to an employee who are not covered under ESI as the maximum ceiling for ESI is 10000/Month.
Getting more than this will be covered under Mediclaim or it depends on company policy

EX-Gratia/Bonus = A fixed amount as Bonus

Annual Fixed Gross Cost= Gross/Annum+ Ex-gratia

Annual Total Cost = AFGC + PF+ESIC

Annual total cost is also called as CTC.

nivedita kaushik (n/a) 16 January 2008

thanks

should we devide the basic according to the minimum wages rule ,then hra 50 % of basic or how?

m little bit understand .

let take 7000 ctc /month.

pls tell me the breakup.

nivedita

KRISHNAMOORTHY (n/a) 28 January 2008

Dear Mr. Himanshu Sharma

Hi. I am working as a senior person in CONSTRUCTION INDUSTRY where lot of the contractual labourers are being employed. Could you please send us any information about leave policy prevailing in the construction industry (may be under contract labour act) to formulate a policy for us.

Thanking you in advance for your kind co-operation.

KRISHNAMOORTHY