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Tax Compliances


Tax compliance means making tax payments and producing and submitting information to the tax authorities on time and in the required formats. We have developed a tax compliance management software which helps to manage the tax compliance of your organization.

GST

Goods and Services Tax (GST) is an indirect tax applicable throughout India which replaced multiple cascading taxes levied by the central and state governments. It was introduced as The Constitution (One Hundred and First Amendment) Act 2017.

GST Registration is an online process where the GST Law implies that any business entity should obtain a unique number by concerned tax authority for collecting the tax and for availing Input Tax Credit (ITC). It is a PAN-based and state-specific registration.

Goods and services are divided into five tax slabs for collection of tax - 0%, 5%, 12%, 18% and 28%. However, Petroleum products, alcoholic drinks, electricity, are not taxed under GST and instead are taxed separately by the individual state governments, as per the previous tax regime.[citation needed] There is a special rate of 0.25% on rough precious and semi-precious stones and 3% on gold.

In addition a cess of 22% or other rates on top of 28% GST applies on few items like aerated drinks, luxury cars and tobacco products

Pre-GST, the statutory tax rate for most goods was about 26.5%, Post-GST, most goods are expected to be in the 18% tax range.

The filing of GST return is one of the most important aspects of Goods and Services Tax (GST). One needs to be cautious at every step. Let’s first try and understand the meaning of GST returns and the various types of returns that need to be filed.

What is a GST return?

GST return is a document where a taxpayer furnishes all the details of income that he is supposed to file with the Government. The return forms the base for the calculation of the tax liability.

What are the types of returns?
  • GSTR-1

    GSTR-1 is a monthly return of sales or outward supplies.

    Who is supposed to file GSTR-1?

    Every business registered under Goods and Services Tax must file GSTR-1

    When is the due date?

    10th of every month.

  • GSTR-1A

    It is an amendment form used to correct the GSTR-1 for any mismatches between the GSTR-1 and GSTR-2.

  • GSTR-2

    GSTR-2 is a monthly return of purchases or inward supplies.

    Who is supposed to file GSTR-2?

    Every registered person must file GSTR-2 except:

    • Input Service Distributor
    • Non-residential taxable person
    • Person required to deduct the TDS or e-commerce operator system

    When is the due date?

    15th of every month.

  • GSTR-2A

    GSTR-2A includes mismatches in GSTR-1 and GSTR-2. It is not used for filing purpose as it involves reconciliation of mismatches.

    The reasons for a mismatch can be:

    • Wrong GSTIN of the user or the counter-party.
    • Wrong invoice date or invoice no.
    • Wrong tax value.
  • GSTR-3

    GSTR-3 is a monthly GST return that is divided into the following parts:

    • Part A
    • Part B

    It contains the information that is furnished through returns in forms GSTR-1 and GSTR-2, based on other liabilities of previous tax periods. Part-A is generated electronically.

    It contains the tax liability, interest, penalty, and refund claimed from cash ledger. Also, it is auto-populated. The tax liability is calculated based on GSTR-1 and after making adjustments for Input Tax Credit claimed in GSTR-2.

    Who is supposed to file GSTR-3?

    Every registered person must file GSTR-3 except for the following:

    • Input Service Distributor
    • Non-residential taxable person
    • Person required to deduct the TDS or e-commerce operator system

    When is the due date?

    20th of every month.

  • GSTR-4

    Return by composition dealer
    18th of the following month

  • GSTR-5

    Return for non – resident foreign taxable person
    20th of the following month

  • GSTR-6

    Return for Input service distributor
    13th of the following month

  • GSTR-7

    Return for taxpayers deducting TDS
    10th of the following month

  • GSTR-8

    Details of supplies effected through ecommerce
    10th of the following month

  • GSTR-9

    Annual return
    31st December of this financial year.

  • GSTR-10

    Final Return
    Within 3 months of the date of cancellation.

  • GSTR-11

    Details of inward supplies by UIN
    28th of the following month

ESI

Employee's State Insurance (abbreviated as ESI) is a self-financing social security and health insurance scheme for Indian workers. This fund is managed by the Employees' State Insurance Corporation (ESIC) according to rules and regulations stipulated there in the ESI Act 1948. ESIC is an autonomous corporation by a statutory creation under Ministry of Labour and Employment, Government of India.

Applicability of ESI

ESI is a compulsory for entities employing 10 or more persons, Earlier it was 20 revised to 10. ESI contribution is required for all the employees earning wages less than Rs. 21,000/- per month.

Wage Limit under ESI Registration:
  • Employees earning 21,000 INR per month or less are applicable for ESI contribution. Employees with higher wages are exempt.

  • Wage limit for Employees with ‘Disability’ is 25000INR per month.

  • Employee contribution: 1.75% of total salaries.

  • Employer Contribution: 4.75% of total wages.

BENEFITS TO AN INSURED PERSON:-

Under Section 46, Subject to the provisions of this Act, the insured persons, their dependants or the persons hereinafter mentioned, as the case may be, shall be entitled to the following benefits, namely,-

  • Periodical payments to any insured person in case of his sickness certified by a duly appointed medical practitioner or by any other person possessing such qualifications and experience as the Corporation may, by regulations, specify in this behalf (hereinafter referred to as sickness benefit).

  • Periodical payments to an insured woman in case of confinement or miscarriage or sickness arising out of pregnancy, confinement, premature birth of child or miscarriage, such woman being certified to be eligible for such payments by an authority specified in this behalf by the regulations (hereinafter referred to as maternity benefit)

  • Periodical payments to an insured person suffering from disablement as a result of an employment injury sustained as an employee under this Act and certified to be eligible for such payments by an authority specified in this behalf by the regulations (hereinafter referred to as disablement benefit)

  • Periodical payments to such dependants of an insured person who dies as a result of an employment injury sustained as an employee under this Act, as are entitled to compensation under this Act (hereinafter referred to as dependants' benefit)

  • Medical treatment for and attendance on insured persons (hereinafter referred to as medical benefit) and

  • Payment to the eldest surviving member of the family of an insured person who has died, towards the expenditure on the funeral of the deceased insured person or, where the insured person did not have a family or was not living with his family at the time of his death, to the person who actually incurs the expenditure on the funeral of the deceased insured person up to Rs 10,000 (to be known as [funeral expenses]

  • PROVIDED that the amount of such payment shall not exceed such amount as may be prescribed by the Central Government] and the claim for such payment shall be made within three months of the death of the insured person or within such extended period as the Corporation or any officer or authority authorised by it in this behalf may allow

  • The Corporation may, at the request of the appropriate government, and subject to such conditions as may be laid down in the regulations, extend the medical benefit to the family of an insured person

ESI Wage Limit Has Been Increased From 15000 to 21000 R

Provident Fund (PF)

A retirement plan for the private and public sectors in Malaysia, enacted by the Employees Provident Fund (EPF) Act of 1991, intended to help employees save a portion of their salary in the event of retirement, disability, sickness or unemployment. As of 2007, employees are required to contribute at least 11% of their pay check, with their employers contributing at least an additional 12%. The savings can then be used by the EPF for a wide variety of investments, and the participating employees are repaid through reinvested dividends. Employees may withdraw 30% of their accumulated EPF savings at age 50, and 100% at age 55.

A provident fund is created with a purpose of providing financial security and stability to elderly people. Generally one contributes to these funds when one starts as an employee, and the contributions are made on a regular basis (monthly in most cases). Its purpose is to help employees save a fraction of their salary every month, to be used in an event that the employee is temporarily or no longer fit to work or at retirement. The investments made by a number of people / employees are pooled together and invested by a trust.

Professional Tax

Professional tax is a tax that is levied by a state government on all individuals who earn a living through any medium. This should not be confused with the definition of professionals that indicates people such as doctors. This is a tax that is to be paid by every single earning individual. The calculation and amount collected may differ from one state to another but it has a limit of Rs. 2500 per year.

Professional tax is the tax by the state governments in India. Anyone earning an income from salary or anyone practicing a profession such as chartered accountant, company secretary, lawyer, doctor etc. are required to pay this professional tax. Different states have different rates and methods of collection. In India, professional tax is imposed at the state level. However, not all states impose this tax. The states which impose professional tax are Karnataka, Bihar, West Bengal, Andhra Pradesh, Telangana, Maharashtra, Tamil Nadu, Gujarat, Assam, Chhattisgarh, Kerala, Meghalaya, Odisha, Tripura, Madhya Pradesh, and Sikkim. Business owners, working individuals, merchants and people carrying out various occupations comes under the purview of this tax

Professional tax is the tax by the state governments in India. Anyone earning an income from salary or anyone practicing a profession such as chartered accountant, company secretary, lawyer, doctor etc. are required to pay this.

TDS

TDS stands for tax deducted at source. As per the Income Tax Act, any company or person making a payment is required to deduct tax at source if the payment exceeds certain threshold limits. TDS has to be deducted at the rates prescribed by the tax department.

The company or person that makes the payment after deducting TDS is called a deductor and the company or person receiving the payment is called the deductee. It is the deductor’s responsibility to deduct TDS before making the payment and deposit the same with the government. TDS is deducted irrespective of the mode of payment–cash, cheque or credit–and is linked to the PAN of the deductor and deducted.

TDS is deducted on the following types of payments:
  • Salaries

  • Interest payments by banks

  • Commission payments

  • Rent payments

  • Consultation fees

  • Professional fees

Income Tax

Income tax is paying tax on what you are earning income from profession, trading and any business. This tax will applicable as per tax rules .in India everyone who is earning more 2.5 lacks per year they need to pay the tax as per slabs applicable.

The slabs in India
  • 0–2.5 lacs -Nill

  • 2.5 -5 lacs -10%(2.5 lacs)= 25k

  • 5–10 lacs -20%(5 lacks )= 1 lac

  • More than 10 lacks-30 % (on 10 lacks above)

Above are the slab taxes in India, we need to pay the above percentages as a tax on your income. After paying the tax you need to file the tax return .means you are confirming your income where did you earned (which sources) .this filing only called Tax returns

Income Tax Return is the form in when assessee files information about his Income and tax thereon to Income Tax Department. Various forms are ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7. When you file a belated return, you are not allowed to carry forward certain losses.

The Income Tax Act, 1961, and the Income Tax Rules, 1962, obligates citizens to file returns with the Income Tax Department at the end of every financial year.[2] These returns should be filed before the specified due date. Every Income Tax Return Form is applicable to a certain section of the Assesses. Only those Forms which are filed by the eligible Assesses are processed by the Income Tax Department of India. It is therefore imperative to know which particular form is appropriate in each case. Income Tax Return Forms vary depending on the criteria of the source of income of the Assesse and the category of the Assesse.

Income tax is a tax levied directly on the income of an individual or a business by the government for the purpose of financing its various operations. There are two types of taxes in India – direct and indirect.

A direct tax is a tax you pay on your income directly to the government. Indirect tax is a tax that restaurants, theatres and e-commerce websites charge you on for goods or a service. Goods and services tax, which has recently been introduced is a unified tax that has replaced all the indirect taxes that business owners have to deal with.

Your income is taxed under five heads/parts
  • Income from salary

  • Income from House Property

  • Income from Business and Profession

  • Income from Capital Gain

  • Income from Other Sources

ROC COMPLIANCES PVT LTD


Pvt means private. Having ownership/shareholders less than 200. Beyond 200 shareholders a company has to get listed in stock market. It can get listed before achieving the requisite number but a Pvt company can run as private beyond 200 shareholders only after it gets its shares listed in stock market.
Ltd means limited liability of owners as they're issuing their share/listing their shares in stock market for trading purposes. Individual businessman issue their shares in market and hence they share their liabilities with other shareholders.
Like you'd have heard, joint venture of 51–49% between two groups on a single company. That means both owners have a limited liability of 51% & 49% respectively.

Name Change

Changing in Name of a Private Limited Company is very complicated but if we follow some standard steps then its a very easy to change anyone company name, their business activity and other legal agreements like MOA & AOA of the company.

The name of the company is regarded as the identity of the company irrespective of whether the company is a private company or a public company.

The MOA i.e. Memorandum of association of a company has the 5 clauses which are necessary for a company; these are named clause, registered office clause, object clause, liability clause and capital clause. These have to be mentioned in the MOA of the company.

So, Name clause can be altered by the company by passing a

  • A special resolution of the shareholders of the company and approval of the ministry of Corporate affairs (MCA)

  • Change the AOA i.e. Article of Association in order to change the name of the company

Change of Address

Basically change or shifting of registered office from 1 place to other are broadly divided into following categories depending on the nature of permission required .Shifting within same city, town or village - easiest and requires no approval.. Only intimation to registrar is required.

Shifting outside City, Town or village - more or less similar as No. 1 except here Company will need approval of shareholders in addition to intimation to Registrar.

Shifting from one Registrar to another in same state (basically only Maharashtra and Tamilnadu has 2 RoC - rest of the ROC has only 1 ROC so this is not applicable) - In addition to point number 2, the Companies will require approval of Regional Director as well.

Shifting from 1 state to another - this is the most complicated matter as it requires NOC from secured creditors, Regional Director and few more plus publication of newspaper advertisements etc

MOA Amendment

Company’s Memorandum of Association and Articles of Association by holding a Board and shareholders meeting and passing necessary resolutions to this effect. After passing necessary shareholder’s resolution, you are required to file copy of resolution and amended MOA & AOA in Form MGT - 14 and other forms (depending upon nature of amendments) with MCA and obtain their approval. You can amend some portion of MOA and AOA and also replace entire MOA and AoA with new set.

Change of Directors

Directors are appointed by the shareholders of a Company for the management of a Company. A Private Limited Company is required to have a minimum of two Directors and the authority to approve the resignation of the director lies with the members of Board of Directors whereas the appointment must be made through consent of shareholders. Whether it is an appointment, removal or resignation, the change does not take effect until the intimation is made to Ministry of corporate affairs.

Increase in Capital

For increase in paid up capital u need to issue new share and allocate them in the executive gatherings through a board determination. Return of distribution is required to be submitted u/s75 recording structure 2 with concerned registrar of company.

Share Transfer

There can be several reasons as to why the shares are needed to be transferred. These reasons can be:

  • Transferring the ownership of the company to others.

  • Change the stake of shareholders

These two are the main reasons as to why shares might be needed to be transferred in a private limited company

Annual Filing

Private Limited Companies are required to file its Annual Accounts and Returns disclosing details of its shareholders, directors etc. to the Registrar of Companies. Such compliances are required to be made once in a year.As a part of Annual Filing, the following forms are to be filed with the ROC: Form MGT-7 (Annual Return) : Every Private Limited Company is required to file its Annual Return within 60 days of holding of Annual General Meeting. Annual Return will be for the period 1st April to 31st March. Form AOC-4 (Financial Statements) Every Private Limited Company is required to file its Balance Sheet along with statement of Profit and Loss Account and Director Report in this form within 30 days of holding of Annual General Meeting.

Winding Up of Company

Normally, there are 4 ways to Closing down a business.

Sell the Company

Selling a Company is also a type of Voluntary wind up of a Company. A company can be sold by selling the majority shareholding of the company. Technically it is not winding up but a relief from the responsibilities of the person who is willing to winding it up

Defund Company Winding Up

Defund Company can be wound up with a fast-track procedure which is through STK-2 form. Defund Companies are those companies which has gained the status of a Dormant Company. The government gave relief to those who made the dormant companies because there is no financial transaction in dormant companies.

Hence, Form STK-2 is required to wind up a Dormant Company and there is no further procedure for that.

Voluntary Winding Up

Voluntary Winding Up the company is a long procedure. There are few mandatory things which has to be done to close down a company voluntarily.

Steps:-

Board Resolution is required for the Winding up the company. In which Majority directors should agree for winding up.

Special Resolution is also required to get passed for the winding up of the company. And at least 3/4th Shareholder must agree for winding up the company.

Creditors consent is also required for winding up the company. Creditors has to give their consent that they do not have any obligation if the company gets wound up.

Declaration of Solvency is also required to be made by the company and that should be accepted by the creditors of the company. In Declaration of Solvency, Company shows the creditability of the company. The liquidator of the company will make a report the assets, liabilities, capital, reserves, etc.

All the above following points shall be filed in a prescribed form and even after the company gets wound up then also company's name shall be prohibited for 2 years to be taken by any other applicant.

Compulsory Winding up

As per the Companies Act 2013, Any Company, who did any fraudulent act or unlawful act or even if they contributed some action in some unlawful or fraudulent act then that company shall be compulsorily wound up by the Tribunal.

Procedure:-
  • Petition will be filed.

  • Petition shall be accompanied with Statements of Affairs in Form 4

  • Advertisement of Petition for at least 14 days

  • Proceedings in the Tribunal

1. Petition will be filed-

Petition will be filed by the following parties

  • Company or

  • Creditors of the Company or

  • Any Contributors or contributory of the company or

  • Central Government or State Government or

  • By the Registrar

2. Petition shall be accompanied with Statement of Affairs-

While filing the documents under Form 4. All the documents should be audited by the Chartered Accountant and Auditor should give an unqualified opinion for the Financial Statement.

3. Advertisement for at least 14 days

The Petition should be advertised in a daily newspaper and the language of the advertisement should be in English and Regional Language of the area. The Advertisement must be carried out under Form 6

Proceedings in the Tribunal

Form 11 will be required for the order of winding up the company and footnote contains the prescribed duties.

  • Submit the complete audited books of accounts up to the date of the order

  • Provide the date, time and place for the Company Liquidator

  • Surrender the assets and the documents of the assets

ROC Limited Liability Partnership (LLP)


A LLP is a body corporate formed and incorporated under The Limited Liability Partnership Act, 2008 and various Rules made there under this act and which has legal entity separate from that of its partners, having perpetual succession and liability of its partner shall be limited.
Liability of partners is limited up to their Capital contribution however in case a partners acts with an intension to conduct fraud, they are personally liable.

Formalities of incorporation & Continuance:
Minimum 2 Partner, no cap of maximum number of its partners Various documents / declarations executed in prescribed formats pre-filled in designated e-forms are required to be filed with ROC along with necessary filing fee..

As per the provisions of LLP act, accounts to be audited annually except for LLP’s having turnover less than Rs. 40 lacs or Rs. 25 lacs contribution in any financial year.

Name Change

Name reservation: The first step to incorporate Limited liability partnership (LLP) is reservation of name of LLP. Applicant has to file eForm 1, for ascertaining availability and reservation of the name of a LLP business/div>

Change of Address

The registered office of a company or LLP is the principal place of business activities. The registered address of the company must always be an effective address for receiving necessary communications and all official correspondence from the Ministry of Corporate Affairs.



The registered office of a Company or LLP can be changed within the local limits of any city, town or village where such office is situated by just giving a notice to the concerned Registrar within 30 days after the date of the change. But if the registered office is changed from one village, town, city to another within a state then a special resolution will be required .But when the registered offices is changed from one State to another State then a special resolution along with the confirmation of the Company Law Board is required. In addition to this, an advertisement in the newspapers indicating the proposed change and also a notice is to be given to the State Governmentanization issues two types of licenses

Amendement In LLP Agreement

While running the business after registration of LLP with number of partners, various changes are to be adopted in order to make the policy of operations more simplified and standardised while allotting obligations to the specified partner and benefiting him with few other rights combined with additional liability or obligation. Where the need arises for change of any right, liability or any clause as per the business requirement after LLP Formation, the LLP shall look forward for change in LLP Agreement.

Change of Partners

A limited liability partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities. Therefore it can exhibit elements of partnerships and corporations. In an LLP, each partner is not responsible or liable for another partner's misconduct or negligence.

Increase In Capital

The Income Tax Act allows for the maximum 12% deduction of the interest to the partners on the amount of their contribution. Increase in Capital Contribution: The existing Capital of the LLP can be increased as per the provisions provided in the LLP Agreement.

Share Transfer

Shares or debentures are movable property. They are transferable in the manner provided by the articles of the company, especially, the shares of any member of a public company. A private company is required to restrict the right to transfer of its shares in its articles. Meaning. Persons involved in the transfer.

Annual Filing

For a Limited Liability Partnership (LLP), the returns should be filed periodically for maintaining compliance and escape heavy penalty under the law for non-compliance. A Limited Liability Partnership has only few compliances to be followed every year which is amazingly low as compared to the compliance requirements placed on the private limited companies. However, the fines seem to be quite large. Whilst non-compliance might only charge a Private Limited company INR 1 lakh in terms of penalties, it might charge an LLP up to INR 5 lakh.

Winding Up Of LLP

If you’re a member/partner in a limited liability partnership (LLP) and your business debts have led to you being served a winding-up petition, our experienced business rescue specialists can help – although you must act immediately.

A winding-up petition – also known as compulsory liquidation – is essentially the ‘final straw’ for disgruntled creditors who have been moved to action by continual non-payment of debts. The most common business creditor is HMRC for unpaid tax.  Some creditors may petition purely as a scare tactic whilst others may seriously mean business – of course, with HMRC, it will be the latter.

A creditor can petition the court for winding-up if they are owed at least £750, stating that the debtor is unable to pay its debts as and when they fall due. The courts will give the debtor seven days to answer the petition or settle its arrears but after this period, the insolvency of the debtor will be publicised in the London Gazette as an advertisement to other creditors and stakeholders (if any). This is a hugely serious step and also means your business bank account will be frozen – rendering the business unable to trade and pay its staff.

HR & Payroll

Registry and Forms as per Labour Act

An Act to provide for the exemption of employers in relation to establishments. Employing a small number of persons from furnishing returns and maintaining. Registers under certain labour laws.

All employers, workers, workshops and production, industrial, services and agricultural institutes shall be obligated to observe the provisions of Law.

Indian labour law refers to laws regulating labour in India. Traditionally, Indian governments at federal and state level have sought to ensure a high degree of protection for workers, but in practice, legislative rights only cover a minority of workers. India is a federal form of government and because labour is a subject in the concurrent list of the Indian Constitution, labour matters are in the jurisdiction of both central and state governments; both central and state governments have enacted laws on labour relations and employment issues

Payroll Process

The payroll processing is a significant cost of a company as it comprises a massive proportion of the budget. It should be a routine task, not dreaded or feared. As a company, you must select the technique of payroll processing that is most appropriate for you. Payroll software can help to automate and offer timely and accurate payroll processing for all sorts of workers. Therefore the payroll software needs to be able to create a number of companies records in the system and the reports have to be separated accordingly. So it should show the remainders when it is due.

It is important to pick a provider who will work with you to really guarantee a smooth and effective payroll services. Web business payroll service provider should supply you with superior support staff.  A well-established payroll service is extremely likely to give a number of different characteristics that go way past the basic ones. By becoming more conscious of the particular needs for your own company it will be less difficult to choose the best service to manage the continuing payroll requirements. Some businesses may elect for outsourcing their whole payroll services. The organization should offer multiple payment choices. Other large businesses use payroll software which is capable of handling a large number of employees. Nowadays the business can easily seek out assistance of the Payroll Processing Company with the assistance of internet and by fulfilling the compulsory heights of the HR outsource corporation. The truth is that doing so enables the business in saving up on expenses. A thriving payroll business is committed to giving the great service which your business expects of them.

Filing of Returns

Income tax is paying tax on what you are earning income from profession, trading and any business. This tax will applicable as per tax rules .in India everyone who is earning more 2.5 lacks per year they need to pay the tax as per slabs applicable.

Income Tax Return is the form in when assesse files information about his Income and tax thereon to Income Tax Department. Various forms are ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7. When you file a belated return, you are not allowed to carry forward certain losses.

The Income Tax Act, 1961, and the Income Tax Rules, 1962, obligates citizens to file returns with the Income Tax Department at the end of every financial year.[2] These returns should be filed before the specified due date. Every Income Tax Return Form is applicable to a certain section of the Assesses. Only those Forms which are filed by the eligible Assesses are processed by the Income Tax Department of India. It is therefore imperative to know which particular form is appropriate in each case. Income Tax Return Forms vary depending on the criteria of the source of income of the Assesse and the category of the Assesse.

Employee Benefits

In general, indirect and non-cash compensation paid to an employee. Some benefits are mandated by law (such as social security, unemployment compensation, and workers compensation), others vary from firm to firm or industry to industry (such as health insurance, life insurance, medical plan, paid vacation, pension, and gratuity).

 

It refers to benefits offered by the employer to employees working at that organisation. Also called fringe benefits, these are benefits which are paid above and over the wages provided to an employee.

A survey done by Glassdoor found some crazy statistics. It found that 79% of employees have said they would prefer benefits over a pay raise!

The need to implement employee benefits are huge. To name a few, its advantages are -

  • Increases Productivity

  • Makes Employees more Loyar

  • Lowers Absenteeism

  • Improves Recruiting

  • Increases Retention

Some benefits which employees favour greatly and are said to take into consideration before applying for a job are -

  • Health Insurance

  • Retirement Plans, 401(k) plans

  • Tuition Reimbursement

  • Paid Vacation

  • Professional Development Programs/ Training

  • Performance Bonus

  • Childcare Facilities

  • Commute Facilities/compensation

  • Parental Progra

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