Statutory & Labour Compliance
Founded in 1957, Results-driven management consultancy with over 65 years of experience diagnosing a range of problems, from small businesses to multi-million dollar corporations. We are located in Maharashtra.
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Expert in the Industry
We have more than 65 years of Experience in this Industry
Protection of Rights
We help to protect employer and worker’s rights
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We have Team of Experts in HR, Statutory and Labour Complainces
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We have good reputation with Local Authorities and Government Offices
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Statutory compliance relates to the various labour and taxation laws prevalent in India. These laws change on a State and National level, and it is mandatory for companies to obey them.
It's understandable that knowing every single labour and taxes legislation and its complexities is challenging. What is the best way to guarantee that a company's statutory compliance is full and error-free? A good payroll management system is essential.
Labour law compliance refers to a set of accepted terms or conditions of employment. It refers to several regulatory compliances including minimum wages act, work men’s compensation act,contract labour act, factories act etc.
This includes assisting you in documentation and submissions for applications under various labour laws from time to time right from commencement of the business up to the closure formalities.
SVMS work with businesses to improve their performance by providing expert advice to solve problems and encourage growth. we work with businesses across a wide range of sectors, including HR and legal matters.
Employment and labour law compliance has become one of the most critical challenges that every firm doing business in India must address. Our labour and employment specialists are skilled at advising clients on the variety of regulations which must be followed by organisations doing business in India.
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About Us
Founded in 1957, Results-driven management consultancy with over 65 years of experience diagnosing a range of problems, from small businesses to multi-million dollar corporations, and ideating solutions.
SVMS specializes in HR solutions for businesses of all sizes and across all industries. Our team of 10+ professionals provides Human Resources, Payroll, related services to a base of over 150+ satisfied clients located in Maharashtra. Some of Svms services include Payroll Management, Statutory Compliance, Labour Compliance,
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A person who is employed for wages in any kind of work, manual or otherwise, in or in, connection with the work of a establishment covered under the Employees’ Provident Funds & Miscellaneous Provisions Act, 1952, and who gets his wages directly or indirectly from the employer, and includes any person employed by or through a contractor in or in connection with the work of the establishment.
At present, an employee contributes 12% of the Basic wages + Dearness allowance + Retaining allowance in EPF. The employer also pays 12% of pay out of which 8.33% of pay is diverted to Pension Fund and the rest 3.67% is diverted to EPF.
UAN (Universal Account Number) is a unique 12 digit number allotted to a member. It is a permanent number and remains valid throughout the life of a member. It does not change with the change of employment. UAN helps in automatic transfer of Funds and PF withdrawals.
Employees’ State Insurance Scheme of India is a multi-dimensional Social Security Scheme tailored to provide Socio-economic protection to the ’employees’ in the organised sector against the events of sickness, maternity, disablement and death due to employment injury and to provide medical care to the insured employees and their families.
The scheme provides full medical care to the employee registered under the ESI Act, 1948 during the period of his incapacity, restoration of his health and working capacity. It provides financial assistance to compensate for the loss of his/ her wages during the period of his abstention from work due to sickness, maternity and employment injury. The scheme provides medical care to his/her family members also.
This scheme is applicable to any company registered in Maharashtra, having 5 or more employees in the company.
In Maharashtra, the amount needs to be contributed bi-annually. Hence for the 30th of June ending 6 months, the payment needs to be done on or before the 15th of July. Similarly, for the half-year ending on the 30th of December, the payment has to be done by the 15th of January. This means that the contribution is to be deducted from the employee’s salary from the months of June and December each.
The scheme is also 2 slabs here, (for all employees except for those who work in the managerial capacity)
- For any employee earning Rs 3000/- or less, the employee contributes Rs 6/- while the employer contributes thrice that. Meaning Rs 18/-. Hence, for employees earning less than R 3000/-, the amount contributed in Rs 24/-
- For any employee earning Rs 3001/- and more, the employee contributes Rs 12/- while the employer contributes thrice that. Meaning Rs 36/-. Hence, for employees Rs 3001/- or more, the amount contributed in Rs 48/-
