Startup company hiring 1st employee - what needs to be done?

Hi everyone,

It's Nalini again. After struggling with finding/spending on office space/office address for company incorporation, I have successfully incorporated my company in Mumbai using registered office service from TimesOffice.in. Now the next step is to hire my first employee!

Could you please let me know what are the things that I (as a founder/CEO of the startup) must do and provide to the employee. What taxes (like professional tax, shop act etc) should I register? AND how do i set up the total compensation (PF, Gratuity, Performance Linked Variable Component, CTC)

Your direct help or pointing to an online resource about this information is greatly appreciated.

 

Replies (1)

Dear Nalini,

 

You need to register/apply for the following:

 

  1. PAN Card
  2. TAN
  3. Service Tax – If you are expected to cross Rs. 9,00,000 turnover
  4. Profession Tax – PTRC and PTEC
  5. Shop and Establishment License
  6. Gratuity and PF may not apply since the no of employees, currenctly are not above the threshold limit

 

If you need any help on any of these…please let me know

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