by Startup Expert | Jan 29, 2025 | PF Registration
1. Long-Term Financial Security Ensures employees accumulate savings during their working years, providing a financial safety net for retirement. 2. Employer Contribution Employers contribute 12% of the employee’s basic salary and dearness allowance (DA), effectively...
by Startup Expert | Jan 29, 2025 | PF and ESI Registration
1. PF Registration (Under EPF Act, 1952) Eligibility Mandatory for establishments with 20 or more employees. Voluntary registration is allowed for businesses with fewer employees. Step-by-Step Process Visit the EPFO Portal: Go to the Portal. Sign Up as an Employer:...
by Startup Expert | Jan 29, 2025 | Income Tax Returns
Step 1: Determine the Type of Business and ITR Form The type of business entity determines the applicable ITR form: Sole Proprietorship: File ITR-3 or ITR-4 (if eligible for presumptive taxation). Partnership Firm: File ITR-5. LLP: File ITR-5. Private Limited Company:...
by Startup Expert | Jan 29, 2025 | Ownership Basis
1. Avoiding Penalties and Late Fees No Late Filing Penalty: Filing GST returns on time helps you avoid late fees of: ₹20 per day (₹10 for CGST and ₹10 for SGST) for NIL returns. ₹50 per day for regular returns. No Interest: Prevents interest charges (18% per annum) on...
by Startup Expert | Jan 29, 2025 | Ownership Basis
Step 1: Determine Eligibility for GST Registration Mandatory Registration: Businesses with an annual turnover exceeding ₹40 lakh (₹20 lakh for special category states or service providers). Interstate supply of goods/services. E-commerce operators or sellers. Reverse...
