Small
and medium enterprises often struggle to maintain quality of services,
therefore there is a fewer chance for small and medium businesses to sustain
and grow. Thus, the most effective tool for an SME to attain sustainability in
its processes is ISO certification. ISO stands for International Organization
for Standardization that ensures quality management in small and medium
organizations.
The Employee State Insurance or ESI is a prominent scheme by Government of India, which provides medical, monetary and other benefits to workers. It is an autonomous body termed as Employee State Insurance Corporation, and its operations are managed under Ministry of Labour and Employment. According to the labor law, the companies that have more than 10 employees need to have an ESI. The taxpayers having turnover less than Rs.1.5 Cr. can apply for composition scheme to get rid of tedious GST formalities and pay GST at a fixed rate of turnover.
A
legal compliance audit is defined as the review of internal legal and
administrative structures of the business. It accesses the operations and inter-connections
of the company with its external surroundings.
It is an essential step for the business as it will administer any
potential risk and highlight the areas that require attention for ensuring full
compliance and minimal risk.
Plenty of legal aspects need to consider in business. In case, if you fail to follow any legal requirements in business, then it affects t...
