Hi,

I have a query regarding FEMA overseas investment. My Company a private Limited concern in India wants to set up a subsidiary in USA with 95% shareholding of the indian company and 5% shareholding of the indian company's other WOS foreign subsidiary in hongkong. The professional fees charged by the lawyers of USA for company formation is in US dollars which the Indian Company wants to remit.
My query is whether the remittance to USA will require approval of RBI. Do we have to file Form ODI for paying professional fees to lawyers? Further how will this transaction be treated in books of Indian Company and in the newly formed USA subsidiary?

Require help in this regard.

Warm Regards,
Sweta Todi
M.Com, A.C.S

Dear sir/madam,

Can you tell me the consequences if board meetings are not conducted as per company law.
If possible tell me the section.

Thanks and Regards,
Sireesha.

Dear Sir
I Want to information about Maharashtra Profession Tax Act

Dear Sir,
One of our client is a C&F Agent & He is getting commission on sales turnouver 2% and all other exp like Godown rent, Salary, light bill, Freight & Wellfare expenses are reimbursed by co. on submission of bill in this case what will be tournover of My Client for view of service tax Only 2% Commission or Commission Plus All Exp. Reimbursed by Co.

Thanking You

as per my HR department in company factory act 1948, chpater 06 ,there is rule to deduct sunday if one absentin a week

so that please send me a copy of company act 1948, ch.06
i will thank full to him

Regards
Rajendar singh

Hi Friends,

We are deducting 12% as PF from employees and also contributing 12% as PF contribution(employers). Its a 100% owned foreign company.
Now foreign company directors saying that employers contribution can be restricted to 12% on Rs. 6500 for which they also got legal opinion from reputed consultancy.

They downloaded such information from http://epfindia.com/payments.htm :

CONTRIBUTION OF EMPLOYERS


Rates of Contribution:

a) The Employees' Provident Fund Scheme

In respect of establishments employing 20 or more persons and engaged in industry notified under Section 6 of Act ( other than the Establishments. declared as sick ) 12% of the basic pay DA , Cash value of food concession and retaining allowance , if any, subject to a maximum of Rs.6500/- per month. Voluntary higher contributions are also acceptable at the joint request of the member and the employer . However, the rate of contribution is 10% in respect of the following categories of establishments:

Any establishment covered prior to 22.9.97 in which less than 20 persons are employed.


Any sick industrial company as defined in Clause(0) of Sub-Section(1) of Section 3 of the sick industrial companies ( special provisions ) Act 1985 and which has been declared as such by the Board for Industrial and Financial Reconstruction.


Any Establishment which has at the end of any financial year accumulated losses equal to or exceeding its entire net worth.


Any Establishment engaged in manufacturing of (a) Jute , (b) Beedi , (c) Brick , (d) Coir (other than spinning sector), (e) Guar Gum Industries/Factories.






Can employer contribution be restricted to Rs. 780(12% on 6500)?

Please explain with supportings. Its urgent.

Thanks in Advance.

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please suggest the procedure & related compliance to be followed.
wat compliance to be followed for authorised capital of 10cr.

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