MANUFACTURING COMPANIES MAY NEED UP TO 2000 COMPLIANCES UNDER LAWS

 By Sushma gowda

INTRODUCTION

MANUFACTURING COMPANIES

India has 81Million businesses which comprise of Listed companies ( Public limited / Private Limited) -1.9Million, Proprietorship & Partnership firms - 6+Million, Permanent Establishments – 12Million,Other Household Business - 5Million Mobile Markets - 50 Million

There are about 1.9 million Companies in India, According to a 2009 Forbes report, India has 52 billionaires. This is with all courtesy to improve the position of India Company. India has been touted as the fastest growing wealth creator in the world.

The Compliance was flagged by Nirmala sitharaman during her Pre-budget consultation. Central and state laws are time -consuming and it also increases the cost of doing the business.

There are many laws need to be complied by the companies which are related to environment, labour laws, GST and companies Act, and it also includes Approval or fillings etc..

It has been stated that pharmaceuticals and food processing with pan India operation requires more compliance operation as compared to other.

These are few of the compliances need to be filed by the companies.

List of acts need to be complied by manufacturing companies in India.

1. Industrial Disputes Act 1947
2. The Workmen Compensation Act 1923 & AP Rules 1953
3. The Employees Provident Fund (And Miscellaneous Provisions) Act 1952 and Scheme of 1952
4. Employee Pension Act
5. The Payment of Gratuity Act 1972 & AP Rules 1972
6. The Payment of Bonus Act 1965
7. Employees State Insurance Act 1948
8. The Payment of Wages Act 1936
9. The Factories Act 1948
10. The Minimum Wages Act, 1948
11. Maternity benefit act 1961
12. Weekly Holiday's Act 1942
13. Trade Union Act 1926
14. The Apprentice's Act 1961
15. Shops & Establishment Act
16. The Industrial Emplotyment (Standing Orders) Act 1946 AP
17. Employee Liability Act 1938
18. Explosives Act 1884
19. The Contract Labour (Regulation & Abolition Act 1970
20. The Indian Electricity Act 1910 & Rules 1948 & 1956
21. The Water (Prevention & Control of Pollution) Act, 1974
22. The Air (Prevention & Control of Pollution) Act 1981
23. The Income Tax Act 1961
24. The Professional Tax Act & AP Tax on Professional Etc Act 1987
25. The Sales Tax Act (APGST/CST)
26. The Employment Exchange Compulsory notification of vacancies Act 1959
27. The AP Welfare Fund Rules 1987
28. The Petroleum Act 1934 & Rules 1976
29. The Standard Weights & Measures (Enforcement) Act of 1985
30. The Panchayat Raj Act
31. The AP Factories & Establishments (National Festivals & Other Holidays) Act 1974 & rules there under
32. The Non-Agricultural Land Assessment Tax Act
33. Central Excise Act 1944 & Rules 1985
34. Mines Rules 1955
35. Companies Act 2013
36. Co-Operative Credit Society Act
37. The Bureau of Indian Standards - Marking Fee-------
38. The Bureau of Indian Standards - Licences
39. Metallaferous Mines Regulations 1961 Register29s
40. Explosives Rules of Mines 1983
41. Mineral Conservation & Development Rules 1988
42. Mines Act - Under Electricity Rules 1956
43. Payment of Wages (Mines) Rules 1956 (Registers & Returns)
44. Mines Act - Minimum Wages (Central) Rules 1950
45. PESO
46. Any other related laws and Rules.