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Navigating EPFO: Understanding the Employee Pension Scheme
The Employee Provident Fund Organization (EPFO) is a Social Security Organization that regulates three schemes, which are (a) the Employee Provident Funds Scheme, 1952, (b) Employee Pension Scheme, 1995 (EPS), and (c) Employees’ Deposit – Linked Insurance Scheme, 1976. It mandates employees working in the organized sector to contribute along with the employers towards a provident fund, pension scheme, and insurance scheme, which will, in turn, benefit the employee.
Posted on 05-Jan-2024
Legal And Ethical Challenges In The Recruitment Process
The recruitment process is a critical part of human resources management, and it comes with various legal and ethical challenges. The success of a business depends on the quality of employees. The recruiting process is very important to any company. Arise many legal and ethical challenges when hiring new employees. Recruitment agencies ensure equal opportunity, fairness, and reputation management.
Posted on 05-Jan-2024
Preventing Payroll Errors: A Comprehensive Guide to Safeguarding Your Company’s Financial Budget from Costly Mistakes and Statutory Penalties
The most valuable assets that a Company can own are its reputation and the goodwill amongst society, stakeholders, and the general public. The reputation of a company cannot simply be bought with money. However, by ensuring that a Company undertakes and complies with all the regulatory compliances, is a contributory member of society, and is sustainable, amongst other factors, the reputation of the Company can be safeguarded and used to enhance the Company’s financials.
Posted on 03-Jan-2024
How Regulatory Compliance Is Impacting Indian Business
India is emerging as a booming economy with regard to the entrepreneurial culture. With the Government of India focusing on the growth and promotion of startups, they are equally taking steps towards ensuring the benefits for MSMEs. Various ministries are also working inter-departmentally to promote the growth of cooperation in order to ultimately boost the Indian economy. Day by day, Indian businesses are becoming diverse in nature. To maintain a business successfully, one has to take into consideration several aspects. One of the crucial aspects of a smooth run of a business is regulatory compliance. Without adhering to regulatory compliance, no Indian business will stay on track.
Posted on 03-Jan-2024
Building Trust In The Workplace
Trust means different things to different people. Stephen Covey, author of The 7 Habits of Highly Effective People, said, “Trust is the glue of life. It’s the most essential ingredient in effective communication. It’s the foundational principle that holds all relationships.” Obviously, trust matters in personal relationships, but it’s equally important in working relationships and, when present in the workplace, is highly indicative of a successful company. According to a study in Harvard Business Review, people at high-trust companies report 74% less stress, 106% more energy at work, 50% higher productivity, 13% fewer sick days, 76% more engagement, 29% more satisfaction with their lives, and 40% less burnout than people at low-trust companies. Inversely, a lack of trust can make an organization sick and dysfunctional and, some would argue, is the root cause of every organizational problem.
Posted on 03-Jan-2024
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