Are you planning to start your own company? There are things that you need to file regularly to the government. What are these mandatory filings? How do you ensure that your business is run according to the guidelines of the government? How can you protect your business from audits? In this article, we will discuss…
Companies must file annual reports, quarterly reports, management discussion and analysis, and other filings with authorities and investors. Most businesses prepare these financial reports manually, which means they suffer challenges common to manual processes, such as a high chance of error, extended cycle times, and, most significantly, a lack of a reporting standard. With the…
PF stands for Provident Fund. Similarly, ESI stands for Employees’ State Insurance. The government made these to ensure that the workers are financially secured while they are working and after their retirement. If you are running your own business, you should register for PF/ESI. These schemes help you secure the futures of your employees. In…
The Ministry of Corporate Affairs via notice on January 22, 2021 inserted an explanation under Rule 16 of the Companies (Acceptance of Deposits) Rules, 2014. This notification states that all companies, except the government company, are under an obligation to submit form DPT-3 on a yearly basis for transactions that are not deems deposits, i.e. exempted deposits. …
The Annual General Meeting (AGM) is a crucial governance process for an organization’s members. It can provide transparency, provide updates, and allow members to vote on a variety of topics. The Companies Act of 2013 contains provisions for the compounding of annual general meetings (AGMs). A meeting is defined as “a gathering of people for…
A firm is a separate legal entity that does not have its own physical existence and so only operates through natural individuals. Directors are a group of professionals recruited by a firm to help it optimize its operations. Directors are held to a fiduciary standard when it comes to the company’s operations. The Companies Act…
Every business aims to hire high-calibre employees who can work efficiently to maximize revenues. A Company Secretary is assigned to function at various management levels, maintaining corporate governance and seamless administration of the company, in accordance with this method. As a multidisciplinary profession, they have a variety of responsibilities that must carry out in a…
The preparation of a document called a memorandum of association is one of the first steps in the establishment of a corporation (hereinafter referred to as MOA). Also, the firm’s Memorandum of Association outlines the fundamental criteria on which the company was founded. However, every registered business should have a Memorandum of Association (MOA), which…
In areas where more focus, specialization, and technical discussions are necessary, committees as a means of boosting board effectiveness and efficiency. These committees lay the framework for decision-making and report to the board of directors at the next meeting. Committees help to better manage the time of the entire board by allowing for the more…
Each entity accountable for the business is relied upon to lead an audit on a day by day, week by week, month to month, half-yearly, or yearly basis. The Company should direct an audit to decide its monetary adequacy, just as to check the Annual Accounts, Risk Policy, Compliance, and different guidelines that apply to…