Various registrations are required to be taken under respective acts within 30 days from the date of incorporation or commencement of business.
Registration under Shop and Establishment Act – This registration is compulsory for every business place of work except those who falls under Factories Act 1948. It is a state regulation and each state has separate shop & establishment regulation.
Employee Provident Fund – This registration is governed by The Employee Provident Funds and Miscellaneous Provisions Act, 1952. EPF registration is compulsory for all the organizations employing more than 20 individuals, including both temporary and permanent employees and if employee’s salary is less than Rs.15000 p.m. If company expands and threshold of 20 employees is crossed then the company needs to get itself registered within 30 days of such expansion.
Employee State Insurance – This registration is governed by Employee state Insurance Act, 1948 aims to provide social security to employees to protect their interest. ESI registration is compulsory for all the organizations employing more than 10 individuals, including both temporary and permanent employees and if employee’s salary is less than Rs.15000 p.m.
GST – This registration is applicable on businesses whose turnover is 20 lakhs and above. On being registered the entity is recognized as supplier of goods and services, entity can collect tax from its customer and pass on the credit of tax paid on the goods and services supplied to the purchasers, avails benefits of input tax credit etc. It is the most fundamental tax compliance requirement in the country.