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The Public limited company is the company which is incorporated or registered under the Companies Act, 2013. It is different from the Private Limited Company, and therefore its compliance also changes. The shares of a Public limited company is issued to the public. These shares are then freely traded. Public Limited Company is also called as publicly held company. It can be listed on stock exchange, but for Private Limited Company it should first get converted in to a Public limited Company, only then it can be listed on stock exchange. In Public limited company, there should be a minimum paid up capital of Rupees 5 Lakhs, minimum 3 Directors and a minimum number of shareholder should be 7. Compliance for the Public Limited Company is also more as compared to other company. Features: There are many of the characteristics of the Public Limited Company like; Directors: According to the Companies Act, 2013, to start up a Public Limited Company you must require a minimum of 3 Directors and there can be an increase in a number of Directors in the future.Limited Liability: The liability of each shareholder is limited. In simple words, a shareholder of a Public Limited Company isnt personally responsible for any loss of the company for any amount greater than the amount invested by them.Paid Up Capital: A Public Limited Company is required to have a minimum paid-up capital of Rs. 5 lakh or such higher amount as prescribed under the act.Prospectus: A Prospectus is a legal document which is drafted by Public Limited Company that includes securities for sale, investment shares and many more. This is made for the Public especially.Name: This requirement comes under the Companies Act, 2013 which is a must for all the public companies to add the word limited after their name.

Previously known SSI registered entities are now known and registered as MSME, i.e.; Micro, Small and Medium Enterprises. MSME stands for Micro, Small and Medium enterprises, categorized based on the annual revenue in business. These entities possess MSME registration certificate, registered with MSME Department of the Central Government under MSME Development Act, 2006. The Act was enacted for the promotion and growth of the businesses operating at small or medium scale. Where all major activities were eligible for registration under MSME earlier, trading and other few activities are now specifically excluded from eligibility. Although the registration is voluntary, businesses prefer to obtain MSME registration online due to numerous benefits declared by the government.

Considering the recent trends in the business sector, a gradual shift of businesses is observed from the local market to the international market. To spread reach and conquer the international market, the import and export activities are undertaken which further requires the Import Export Code. Import Export Code is a 10 digit unique code allotted to the business entities that allow imports and exports. The code is allotted by the Directorate General of Foreign Trade (DGFT) to the applicants. Register for IEC code online comes with one-time registration and lifetime validity. The process for import export code registration has become simpler with online IEC application supported by a few documents.

FSSAI registration is a mandatory compliance used to ensure the safety of food products and it is essentially a food safety certificate issued by the food authority in India. This governing body, also known as Food Safety and Standards Authority of India (FSSAI) marks businesses compliant with the regulations of the Food Safety and Standards Act, 2006. FSSAI license is mandatory before starting any food business. All the manufacturers, traders, restaurants who are involved in food business must obtain a 14-digit registration or a license number which must be printed on food packages. This step is taken by governments food licensing & registration system to ensure that food products undergo certain quality checks, thereby reducing the instances of adulteration, substandard products and improve accountability of manufacturers by issuing food service license.

Trade License is a certificate/document which grants the permission to carry on a particular trade or business for which it is issued. It does not confer ownership of property or permission for any other activity other than for which it is issued.The License Department is the authorized department by the municipal corporations which issues licenses in consultation with other specialized consultative departments like Fire Brigade, Health, Engineering, Estate and others of same type. In perspective of this, it is important for any business establishments to take fundamental licenses from the License Department before starting manufacturing, exchange or storage of any activity/commodity. The application must be received from the business establishment, 3 months before the commencement of activity. Trade License is valid for the financial year only, at the end of 31st March, this license will automatically be expired and need to be renewed.

To start the Pharma business, a drug license is required. The central drugs standard control organization and state drugs standard control organization issue the drug license in India. The provisions for this has been made in Drugs & Cosmetics Act, 1940 which is applicable to whole of India. It is an Act to consolidate all the laws relating to drugs & cosmetics, which established the Drugs Control Department. In 1964, the Act was amended to include Ayurvedic & Unani drugs. However a particular business entity may require different types of drug license based on their business. Normally, the drug control organization issues two types DL one is Retail drug license which is issued to a person who runs a chemist shop and another one is a Wholesale drug license which is issued to a person who wants to sell drugs on a wholesale level. In case a business is operating in more than two states, it has to obtain drug license in every state in which business is being carried on. Drug license is location specific. If drugs are sold or stocked for sale at more than one place, application shall be made, and license shall be issued, in respect of each such place except migrant vendors. Once the license is granted to the business, all such License must ensure that all the condition in the drug license are compiled at all the time during the course of the business. All the records /registers /Forms must be maintained in the manner specified by the licensing authorities and authorities shall be kept informed for all the changes or modification in the business activities.

EPF (Employee Provident Fund) Registration is a process to give social benefits to employees. It is very best scheme for the employees which comes under Employees Provident Funds and Miscellaneous Provisions Act, 1952 which is regulated by the organization of Employees Provident Fund. According to the act, if the strength of the company is more than 20 employees then its mandatory for the establishment to obtain EIN No. If the employee strength of the company less than 20 then the company can apply for EIN. Any company can get the EPF registration certificate within 30 days from the date of the employment of 20 employees. Employee State Insurance Corporation or ESIC is a self-financing social security and health insurance scheme which provides medical benefit, sickness benefit, maternity benefit, disablement benefit and various other benefits such as funeral expenses, free supply of physical aids etc. to the employees and their family. Units or Establishments that have 10 or more employees, drawing the wages of up to Rs.15, 000 a month are required to be registered for ESIC under the ESI Act 1948. The benefits provided by the scheme are funded from the contributions raised from covered employees and their employers at the fixed percentage of wages. At present, covered employees contribute 1.75% of the wages to the ESIC and covered employers contribute 4.75% of the wages, payable to their employees. The state government also contribute 1/8th share cost of medical benefit. All Establishments and Factories employing more than 10 employees are required to mandatorily apply for ESI registration within 15 days of the ESI Act, 1948 becoming applicable to them.

Goods and Service Tax law now governs the major portion of the indirect tax system in India. The suppliers registered under this regime need to fulfill the compliance requirement regularly. Based on the turnover and the activities, the requirements and period of filing returns are prescribed under law. With online GST return filing, the taxpayers intimate the Goods and Service Tax Network (GSTN) about the inflow and outflow of supplies including the amount of tax paid and collected. While recording the taxable transactions with Government, the taxpayer is also required to pay the amount of tax collected from an outward supplier of goods or services after the deduction of Input Tax Credit (ITC).

A person who is liable to deduct tax at source has to file the TDS return as part of compliance. A TDS return is submitted by Tax Deductor in respect of every quarter with the Income Tax Department. The return is a statement that entails the details of the tax collected, source of collection and tax paid to Government for the reporting period. Generally, tax is deducted on transactions such as Salaries, payment to professionals and contractual basis, payment of rents exceeding certain amount, etc. For every such type of transaction and payment, there is prescribed rate of interest. The deductee can claim the benefit of the tax deducted while ITR filing, only if the deductor has filed the TDS return on time.

There is no issue if Income Tax Notices are sent by the Income Tax Department. It can usually send for various reasons like not filing Income Tax Notice, there is no reason to be frightened. However, the Taxpayer concentrates on the nature of the notice, the requestor order in the notice and take steps accordingly. Reasons Behind to Got a Notice There are many reasons behind to receive a notice from the Income Tax Department like; Forget to file ReturnReturn not furnish on timeTax Credit MismatchNon-Disclosure of IncomeNon- Disclosure of AssetsHigh-Value TransactionsInvestment in the name of Spouse or parentsWrong Information in ReturnFake Deductions

Limited Liability Partnership are those firms which are registered under the Indian LLP Act, 2008 and the LLP Rules, 2009 as all other Companies, LLPs are also mandatorily required to make some annual and periodic compliance with MCA, Income Tax Department, and other concerned Regulatory Bodies and Authorities whether the LLPs Partners doing business or not.LLPs really enjoys the separate status. Filing annual compliance is mandatory for any LLP, whether having a business or not. Annual Compliance for LLP requires filing two separate forms from which the first one is for annual return and another one is for the statement of Accounting and Insolvency. Requirement for LLP Compliance It must that LLPs follow their Financial Year from 1st April to 31st March. The LLP annual compliance has to be met by each and every registered LLP even if there is no business activity. In fact, it has to be met even if the LLP has been closed down and whether or not a business bank account exists. LLP annual compliance has to be met on a mandatory basis, irrespective of these conditions.

ROC stands for Registrar of Companies which is an office under the Indian Ministry of corporate affairs that deal with the administration of the Companies Act, 2013. ROC has been appointed under section 609 of the companies act covering the various States and Union Territories are vested with the primary duty of registering companies and LLPs floating in the respective states and the Union Territories and ensuring that such companies and LLPs comply with statutory requirements under the act. The office of ROC functions as registry records, related to the companies registered with them, which are available for inspection by members of public on payment of the prescribed fee. Moreover, there are currently 22 Registrars of companies (ROC) operating from offices in all major states of India. Besides, the central government exercises administrative control over these offices through the respective Regional Directors. It is important to comply with all compliances applicable to your company to avoid penalties and fines.

Filing DIR-3 KYC is a part of annual KYC conducted by Ministry of Corporate Affairs. MCA has announced mandatory annual KYC for all DIN holder w.e.f. 10th July 2018 by inserting Rule 12A to Companies (Appointment and Qualifications of Directors) Rules, 2014. This compliance is applicable to every individual holding DIN with Approved status and also to those who are disqualified. This being annual requirement, every DIN holder has to fulfill the compliance with respect to every financial year. The common due date for filing is 30th April of immediate next financial year. The last date (i.e. 15th September, 2018) for filing the form for a person holding DIN on or before 31st March, 2018 has been passed. Therefore, DIN of the person who has failed to file the form will be deactivated. To reactivate the DIN, the concerned person has to file the KYC with fee of INR 5, 000 to Government. However, considering the technical difficulties faced to comply with KYC requirements, the ministry has allowed DIR-3 KYC filing at a reduced fee of Rs 500 for 15 days starting from 21st September 2018 and October 6th 2018 onwards, fee of Rs 5, 000 will apply to reactivate DIN.

A LLP winding up can be initiated voluntarily or by striking off or by a Tribunal. If a LLP is to initiate winding up voluntarily, then the LLP must pass a resolution to wind up the LLP with approval of at least three-fourths of the total number of Partners. If the LLP has lender's, secured or unsecured, then the approval of the lenders would also be required for winding up of the LLP. To begin the process for winding up of LLP, a resolution for winding up of LLP must be passed and filed with the Registrar within 30 days of passing of the resolution. On the date of passing of resolution of winding up of LLP, the voluntary winding up shall be deemed to commence. India Filings can help you wind up your LLP quickly and easily.

Regular tracking of business transactions is very necessary. From an income of one rupee to an expense of thousand rupees, recording ensures transparent business operations by tallied account. The accounting and bookkeeping services can help in tracking every single transaction undertaken in past from learned decision of future. The part of recording the financial affairs of the business is called bookkeeping, whereas accounting is the preparation of financial accounts. Accounting for Small business is mandatory unless it is a Sole proprietorship with certain exceptions. Apart from compulsion, it is better to keep accounts updated with accuracy to avoid financial muddles. Expertise knowledge of accounting is essential even in the case of accounting for small businesses, to ensure the books are maintained as per the accounting standards. Maintenance of accounts is as an essential requirement for a home run business as it is to an industrialist.

Every Company incorporated in India is required to maintain statutory registers and records. These records can be maintained online, electronically. The statutory register and records shall be kept at the registered office of the company. Directors, Members of the company and any other person can inspect certain registers and records of the company. Non-Maintenance of the mandatory registers and statutory records attract various penalties on the company, the Directors and every other officer in default. The statutory records of the company must be kept up to date and where if any changes take place within the company, necessary adjustments must be made.

The registered office is an official address where a company is incorporated or registered. All the official communications made to the company are addressed to the registered office which is also displayed in the master data of the company. In case of any change in address, it must be updated with MCA, although the office is changed within the same city. Companies Act prescribes a specified process to be followed to change the address. The process of registered office change depends on where the office is shifted to i.e. within the city, within the jurisdiction of RoC or to other State. In all cases, consent from shareholders and the approval from concerned RoC is compulsory. Reasons to have Register for an Office There are many reasons to have Registered for a place of the company: For receiving documents, official letters and reminders by the Ministry of Corporate Affairs and other authorities.Forgoing on the activities of the business.For maintenance of books of accounts.For determining the domicile of a company.

Logos are distinct and memorable designs that are used to represent a business or enterprise. Logo designing is the process of designing a logo and is among the first tasks undertaken while starting a new venture. Hence, logos are the face of any brand - the very first impression and when executed correctly, serves a very powerful asset to the business. Further, in today's digital words, businesses have to compete for attention and credibility - far beyond the traditional confines of a business card, brochure and website. Today's businesses must address its customers through multiple touch points like sign boards, videos, mobile apps, ecommerce platforms, packaging and a myriad of social media pages like Facebook, Twitter, Google+, LinkedIn and YouTube. Hence, its important to take time and design a logo that represent the company while starting a new venture. Some of the important points to consider while designing a logo are the target audience, culture of the company, company's color scheme, font choice, business name and tag line. Logo's need not incorporate the business name or tag line. However, in case the logo must be registered as a Trademark, then it must incorporate the business name and its products like Trademark.

One of the most important legal document while applying for patent registration is provisional specification or complete specification. To increase the chances of obtaining patent registration, a provision specification can be filed along with a patent application if the applicant feels that the invention has reached a stage wherein it can be disclosed on paper, but has not attained the final stage. Hence, provisional specification are akin to draft specification filed mainly to secure a priority date for the application over any other application which could be filed in respect of the same invention being developed by a competitor. A provision specification must contain the title and description of the invention. The description should start from the second page, starting with the field of invention and containing the background of the invention, object of the invention and statement of the invention. In provisional specification, claims are not included. Claims are normally included only in the complete specification. The average time taken to file a provisional patent application is about 15-20 working days, subject to government processing time and client document submission.

A patent registration helps you to get a patent of an intellectual property right to an invention carried out by an individual or firm. IP department has been initiated by Indian government to grant you the full right to register your invention under patent (but only if it is unique). In return the inventor must produce all the proofs related to the invention as asked by the government. It also ensures that owner gets more preference over other person for your particular invention. In India, Patent is being governed by the Patent Act 1970 & Patent Rules 1972. Patent does not long for a lifetime. If you file a patent now then after a period of 20 years it falls under the public domain. The invention can be anything such as process, art, method to manufacture, particular apparatus, machine, computer software, technical application, chemicals or drugs.

Design registration is a type of intellectual property protection, under which newly created designs applying to a articles created under an industrial process can be protected from counterfeiting. Under the Design Act, 2000, a shape, configuration, pattern or ornament or composition of lines or colour or combination applied to any article can be registered. For a design to be registered, it must satisfy the following conditions: it must be new and original, the design should relate to features of shape, configuration, pattern or ornament applied to an article, the design must be applied to any article by an industrial process and the design must be visible and should appear on an article. Design registration provides the creator, exclusive rights over use of the design for a period of ten years, that can be further extended for a period of five years. In case of infringement, the owner of a registered design can seek legal remedy under the Design Act. When the design is registered, copyright is conferred upon the registered design for a period of 10 years.

An Offer Letter or an Employment Offer Letter is a formal job offer letter containing all the terms and conditions of employment usually provided in writing to a candidate who has been selected to work with a Business. The job offer letter describes briefly information about the position offered, location of the job, starting date, salary and other information pertaining to the job offered. It is customary for a candidate accepting the job offer to sign a copy of the letter and return the same to the employer within the time prescribed in the job offer letter. How to use a offer letter? We provide an easy-to-use format which can be used to draft an Offer Letter by the employer. The letter is usually drafted on a company letter head and is signed and authorised by the employer. The letter contains information such as the job position being offered, job location, starting date and other information pertaining to the job. An offer letter has to be accepted by the candidate by signing on a copy of that letter and returning the copy to the employer.

An Appointment letter is a letter given by the company to person to officially appoint him in the company as an employee. It comes after the person has accepted the job offer and now he is being appointed as an employee. Such letter is generally provide on the first day of the joining of the employee. It provides information about the position offered, salary along with benefits, various company policies and other information about the employment. The copy of letter has to be signed by the employee and return the same to the employer. When Appointment Letter is Provided? This appointment letter format can be used by a HR Manager of the Company or Manager of a Company offering a job to a prospective hire. This appointment letter puts formally and in writing all else that was still left unsaid at the time of employment, fills in the blanks and connects the dots about any questions or details the employee may still have had and gives him a feel about the daily work and day to day responsibilities expected of him. Appointment letters are provided on the day of joining of the employee, printed on the letter head of the business. One copy of the mutually signed appointment letter is retained by the Employer, while another signed document is retained by the Employee. How to Create an Appointment Letter? Appointment letters are printed on letterhead of the employer and signed by the Management or HR Manager authorized to hire the candidate. In case the candidate accepts the position, the candidate must sign a copy of the letter and return it to the employer to indicate acceptance of employment, after which a contractual obligation to be fulfilled by both parties has come into existence and become binding.

A Resignation letter is a letter given by an employee to a company when the employee wants to resign from his current position in the company and stop working in the company. This letter consists of request of date to be relieved, reasons for resignation and time of serving the notice period. The resignation letter is only valid after it has been accepted by the employer. How to Submit Resignation Letter This resignation letter format and generator can be used by an employee to quickly and easily generate a resignation letter citing various reasons. Once, the resignation letter is generated, it can be printed on a plain paper, signed and delivered to the employer. Resignation letters can also be sent via email to the concerned HR Manager. It is a good practice to provide the employer with sufficient notice period while preparing a resignation letter. How to Create Resignation Letter This resignation letter can be printed on a plain white paper, signed and delivered to the employer. A resignation letter is usually handed to human resource department or the supervisor. One copy of the document is retained by the employee and another is issued to the employer. On receiving a resignation letter, its a good practice to request the person receiving the document to acknowledge receipt of the document by signing on the document. If a resignation letter is provided through email, then a request confirming receipt of request can be requested from the recipient. Points to Remember A resignation letter is in most cases only a request to relieve you off duty, as per the employment contract or appointment letter. It is upto the Employer to accept / reject / make counter offer on receipt of a resignation letter, subject to the terms of employment contract. Most employers on accepting a resignation letter indicate a last date of employment.

An Employment contract or Contract of employment is a kind of contract used in labour law to attribute rights and responsibilities between parties to a bargain. The contract is between an "Employee" and an "employer". It has arisen out of the old master-servant law, used before the 20th century. How to use a Employment Contract? We are giving a format for employment contract which can be used by the employer. The contract should include all clauses, agreements and terms which are discussed during the employment. It should ideally be drafted on the letter head of the company and signed by the authorized employer.

Memorandum of Association of a Company sets down the constitution of a company including the permitted range of activities of the company, state of incorporation, type of company, capital clause, liability clause and more. Changes to Memorandum of Association of a company can be required while changing name of a company, changing registered office from state to state. alteration of objects clause, alteration of capital clause or increase of authorised capital. Changes to the Memorandum of Association of a company would require the passing of a special resolution and shareholders consent. Clauses in the Memorandum of Association (MOA) There are many of the clauses in the memorandum of association like; Name ClauseObject ClauseState ClauseLiability ClauseCapital Clause