2016-2017
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Browsing 2016-2017 by Subject "1NH14MCA14"
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Item Scruitinized Services and Legalitties(2017-09-04T12:34:35Z) Appaji, NagaviThe Business System in World which gives various services to their employees is growing very large. The companies which provide the services to the employees have to go through lot of legality aspects. The legalities of the companies which are handled by the company‟s Chartered Accountant. If there are more than 19 employees in a company, then the company has to pay ESI that is Employee‟s State Insurance Corporation services and PF that is Provident Fund to their employees. The company invest the employee‟s contribution in any other sector and provides the various services to them such as Health Card, Death Coverage and Parental Coverage. Some portion of salary goes to benefit part of employee such that the company invest on beneficial policies like share market, government bonds, short-term bonds etc. The benefit that the employees get is directly goes to employee‟s account. The company has to make sure that they get back their minimum invested money. Every company has the CFO‟s that is Chief Financial Officers and Chartered Accountant who is responsible for the Auditing. In turn these CFO‟s have huge bondage with HR‟s they are responsible for hiring and define the policies that each employee must follow. There are different companies like Private Limited, Public Limited Liability partnership (LLP) and Proprietorship. These companies have to register with government (in India- Ministry of Corporate Affair‟s). After registering they are eligible to provide services to the consumer. The registration process is very mandatory in order to make sure that all services are legal and meets the standards according to the government rules and regulation. Once registration process is completed the service provider can provide the service and make business.