Corporate Compliance
We provide expert corporate compliance services to ensure your business adheres to all regulatory requirements. Our services include monitoring legal changes, maintaining accurate records, and ensuring timely filings, helping you avoid penalties and operate smoothly. Trust us to manage your compliance needs, allowing you to focus on your core business activities with peace of mind.
Audit & Assurance
Internal audits are conducted regularly to ensure adherence to compliance standards and identify potential areas of improvement.
Regulatory Monitoring
Our regulatory monitoring services keep you updated on changes in laws and regulations, ensuring your business adapts promptly to new requirements.
Annual Filings
Annual filings include preparing and submitting required reports on time to avoid penalties and meet all statutory deadlines.
Risk Assessment
Risk assessment involves identifying and evaluating potential compliance risks to your business, allowing for proactive management and mitigation of those risks.
Licenses and Permits
Our license management services ensure your business obtains and renews all necessary licenses and permits, avoiding disruptions due to non-compliance.
Contract Compliance
Our team helps all your agreements are thoroughly vetted and your business adheres to all terms & conditions, minimizing risk and safeguarding your interests.
End to End Services
End-to-end compliance services ensure your business meets all regulatory requirements, from initial setup to ongoing management. We handle regulatory monitoring, record maintenance, annual filings, board meeting management, policy development, internal audits, risk assessments, and license management. By overseeing all aspects of compliance, we ensure smooth operations, minimize risks, and allow you to focus on growing your business confidently.
Let us Discuss
Visit us to explore all the solutions for your business challenges.
Share the details about your business and challeges, we will revert you within 2 business days.
Our Customers
“Navigating the corporate compliance landscape seemed daunting until we partnered with Uma Mahesh Associates. Their meticulous attention to detail and comprehensive services ensured our business stayed compliant and risk-free.”
“With Uma Mahesh Associates‘s investment advice, I finally feel confident about my financial future. Their insights and recommendations have helped me make informed decisions and grow my portfolio.”
“The financial planning services provided by Uma Mahesh Associates have been a game-changer for my business. Their expert advice helped us manage our resources more efficiently and grow faster than we imagined.”
Focus on Business, Leave rest to Us.
Frequently Asked Questions on Payroll & Compliance
How do I calculate ESI?
ESI is calculated on the gross salary paid to the employees. As per the ESI Act, the employer contributes 3.25% of the wages, and the employee contributes 0.75% of the wages to the contributory fund, which is then used to provide insurance cover to the employees in difficult times.
How do I Calculate PF?
Employees contribute 12 percent of their basic pay plus DA to the EPF. Employer’s EPF contribution is equal to 12% of basic pay plus DA. The employer’s contribution of 12 percent is split into two parts: 8.33 percent goes to the employee pension plan (EPS) and 3.67 percent goes to the Provident Fund.
However, To understand how to calculate EPF, let us have an example.
. Employee basic salary + dearness allowance = Rs 14,000
. Employee contribution towards the EPF = 12% * 14,000 = Rs 1,680
. Employer contribution towards the EPF = 3.67% * 14,000 = Rs 514
. Employer contribution towards EPS = 8.33% * 14,000 = Rs 1,166.
. The total contribution by the employer and employee towards the EPF account of the employee = Rs 1,680 + Rs 514 = Rs 2,194.
. Now with the Applicable interest rate 8.25% p.a, the monthly earned interest will be; 8.25%/12 = 0.679%
What is the Karnataka Shops and Establishment Act ?
The Karnataka Shops and Establishment Act defines a commercial establishment as:
The “commercial establishment” means a commercial or trading or banking or insurance establishment, an establishment or administrative service in which persons employed are mainly engaged in office work, a hotel, restaurant, boarding or eating house, a cafe or any other refreshment house, a theatre or any other place of public amusement or entertainment and includes such establishments as the State Government may by notification declared to be a commercial establishment for the purposes of this Act;”
Establishment Exempted from Karnataka Shops and Establishment Act
- Offices of or under the Central or State Governments or Local Authorities, except commercial undertakings;
- Any railway service, water transport service, postal, telegraph or telephone service, any system of public conservancy or sanitation or any industry, business or undertaking which supplies power, light or water to the public;
- Railway dining cars;
- Establishments for the treatment or care of the sick, infirm, or the mentally unfit;
- Establishments of the Food Corporate of India;
- Offices of legal practitioners and medical practitioners in which not more than three persons are employed;
- Offices of a banking company;
- Any person employed in any business from point 1 – 7 above;
- Persons occupying positions of management in any establishment;
- Persons whose work is inherently intermittent such as drivers, care-takers, watch and ward staff, or canvassers;
- Persons directly engaged in preparatory or complementary work, such as clearing and forwarding clerks responsible for the despatch of goods.
Benefits of Karnataka Shops and Establishment Registration
- will have a legal identity to conduct business with the territory.
- can avail benefits under various Government schemes.
- can operate business bank accounts.
Registers to be maintained under Karnataka Shops and Establishment act
- Form T – Combined Muster Roll cum Register of Wages
- Form U – Combined Annual Return
- Form R – Permission to allow women to work after 8 PM
- Form Q – Appointment Order
- Form P – Notice of Holiday
- Form J – Leave Details
- Form H – Leave with Wages Book
- Form F – Register of Leave with Wages
\
Registers maintained the under the Factories Rules.
- In Karnataka below Register maintained the under the Factories Rules.
- Adult Register ( Form:11)
- Register of Muster Rool (Form:22)
- Register of wage( Form:22) 5 Register of Deducation Loss / Damage( Form:) 6 Register of Fines & Unpaid Accumalation(Form:) 7 Register of Advances ( Form: )