Satutory Compliances Hr Ppt Statutory Compliance Management 6g6a3p

COMPLIANCE PRACTICE The present day legal climate is one of uncertainty and confusion. In most cases, a law comes to light only after its contravention, resulting in severe penalties. Compliance Management is a must in keeping you away from the long arm of the law! MCSL will help establish, evaluate, strengthen, monitor and assess your compliance management program in an environment of continuously changing needs and emerging risks.

Our Mission Providing end to end solution on Statutory Compliance Management with major thrust on:    

Knowledge Quality Innovation ability

Emergence  Overcoming traditional weakness – developing in house competencies with occasional help from external consultants  Transition from mere transactional to value added istrative role – unique service model  Focus to provide end to end solutions  Market Trend – corrective actions vis-à-vis preventive steps  Improving standard of Corporate Governance – SEBI Clause 49 (revised) and inclusion in the Companies (Amendment) Bill, 2003

Positioning

Diagnostics

Compensation

Compliance

Training Consulting

HR Systems

Public Systems Practice

USP  Large Client Base (MMCL + MCSL)  Over 90,000 payroll records – existing knowledge & capability  Compatibility with payroll solutions – limit it up to report generation for pushing this new practice – case to case basis  Presence across 45 locations – geographical spread  Unique service model – end to end solutions  Our in-depth understanding of various industries

Service Model – Our offerings

STATUTORY COMPLIANCE MANAGEMENT SERVICES

Statutory Compliance Audit

HR & Statutory Due Diligence

Statutory Advisory Services

Onsite (Help Desk Model)

INCLUDING STATUTES RELATED TO CONTRACTORS & CONTRACT EMPLOYEES

Statutory Benefit istration

Offsite (Remote Processing)

Competitors 

Big 4 consulting firms (PWC, KPMG, E&Y & Hewitt) – in Statutory Audit, HR & Statutory Due Diligence

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Limited offerings – to counter with our broad range of services

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Probable tie up with any one of the big 4

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Small Audit Firms – in statutory Audits & Statutory Advisory Services

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Lack of industry knowledge on compliance management – identification of problem areas to implementation

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Visbin Associates – based out of Bangalore (approx turnover of 5 crores) Clients – ITC, Wipro, Microland,

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Cross selling – statutory management to payroll solutions

3M, Motorola, Health Scribe, Daimler Chrysler Research Center Pvt Ltd., John Brown Technologies India Limited., Lucent Technologies Hindustan Ltd., Wipro GE Medical Systems Limited., Wipro Limited Infotech Group (Hardware Group)., UB limited. BPL Ltd

Prospects – Mapping our offerings 

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Organisation with one or more branches spread across multiple locations – integration & control Group Companies – multiple registrations and licenses Expansion & Diversification – start from scratch New Set-up – MNC’s entering Indian market Mergers & Acquisitions / New Investment

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Statutory benefit istration & Periodical Statutory Audit

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Organisation with large no. of contractors & contract employees – obligations of principal employer Chronic process failure and repetitive non compliances

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Statutory benefit istration & Periodical Statutory Audit Statutory advisory services & benefit istration Statutory advisory services & benefit istration HR & Statutory due diligence – opening up possibilities of other services Contract Labour management, Statutory advisory services & benefit istration

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HR & Statutory due diligence

Benefits - Offered  Assisting to develop good corporate governance & compliance with Sec 49 (SEBI) & AS (ing Standard) 15  To concentrate on core activities  Reduction of variable cost and headcount  Integration of the operations spread across various location  Process driven approach – focus on key deliverables  Enhancing the capability of ensuring compliances of various labour laws  To avoid litigation arising out of non-compliances and thus reducing the man-hour involvement and cost

Service Model - Life Cycle Internal & External Customers NOMINATION FORM

BILL CHECKING

CONTRACTUAL CLAUSES

HR & LEGAL DEPARTMENT COMPLIANCE AUDIT

CONTRACTORS

COMPLIANCE PRACTICE COMPLIANCE AUDIT

CONTRACT EMPLOYEES

ENROLEMENT – PF & ESIC

EMPLOYEES

COMPLIANCE

STATUTORY AUTHORITIES INSPECTION ASSISTANCE COMPLIANCE CHECK

Statutory Compliance Audit Identification of applicable statutory rules and regulations Compliance check as per provisions of various acts and rules Gap identification and recommendations Presentation of the draft report and discussion on observations / findings  Submission of final report    

HR & Statutory Due Diligence  Initial sensing – understanding clients business need  Finalisation of Check List for various processes & activities  Risk assessment & evaluation – adequacy and control measures -major area to focus  Analysing various HR & Compliance policies and checking documents pertaining to various activities  Financial liabilities associated with the processes if any is being determined – look into audited balance sheet & Annual report  Gaps being identified in the above process are transformed into observations  Observations are analysed to form recommendations  Overview of the findings are presented to the client  Submission of final report

Statutory Advisory Services  New business set-up, Business Expansion, Diversification  Mergers & Acquisitions  Identification of the applicable labour regulations based on the nature of business, project plan and geographical proximity  Drafting of the compliance report quoting the objectives, important provisions, istrative issues and penalties  Procuring Registration and Licenses  Streamlining Statutory Compliance istration with a special emphasis on Contractors and Contract Employees related issues

Statutory Benefit istration          

Preliminary system / process study Creation of necessary database Maintenance of Forms and s, Challans and Returns Ensuring compliance of provisions as per Acts and Rules Assisting employees for ensuring coverage of statutory benefits Compliance check on the applicable statutes for the contract employees and the contractors Periodical Statutory Compliance Audit for the client & contractors Assistance during the statutory audits / inspections Generating customised reports Formation of need based project team – Onsite / Offsite or combination of both.

Our Expertise Approximately 24 labour regulations             

Factories Act PF & Misc Provisions Act ESI Act Minimum Wages Act Contract Labour Regulation and Abolition Act Bonus Act Employment Exchange Compulsory Notification of Vacancies Act Apprentices Act Professional Tax Act Shop and Establishment Act Labour Welfare Fund Maternity Benefit Act Payment of Wages Act

Some Success Stories 2005  POSCO / Project Cost: 12 billion USD – Statutory Compliance Report  KWIC / Project Cost: 2100 crores – Statutory Benefit istration (MOM) 2006  Qualcomm – Statutory Benefit istration (MOM)  Fujitsu Consulting – HR & Statutory Due Diligence  Mani Group – HR Due Diligence

Challenges - POA  

Imparting continuous Training Engagement of External consultants selectively with pre defined SLA

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Multiple consultants – integration of information, lack of ability, limitation in handling multi-location assignments

Scalability in future – lack of system

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Building up a robust system that can take care of the routine activities

Involvement with Labour Unions on certain negotiations / handling legal cases / conciliation process / disciplinary proceedings

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Strict “NO” on such activities

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Lack of in-depth knowledge across consultants on compliance management

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Small players – pricing pressure

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Striving for 100% Compliance!