The focus on both local and global markets for mobilization of resources has made Corporate Governance increasingly difficult. We offer Consultation and Audit Services on the Payroll and labour legislative part of compliance which is an integral component of corporate governance.

Incidental and non-core activities, along with getting the experts to efficiently execute their job, are ultimately a business decisions. These concerns help enhance the efficiency of business. As the principal employer, however, the company has the important responsibility of compliance in relation to contract workforce, even if the contractor is a separate corporation. This has been upheld in a multitude of apex and high court judgements.

Responsibilities of The Principal Employer:

  • Prompt registration and licensing under the Contract Labor Regulation and Abolition Act
  • Payment of minimum wage to contracted workers.
  • Maintenance of documentation, registrations, forms and notifications under various legislation.
  • Remittance of ESI, EPF, P.TAX and LWF contribution for contracted workers

Possible consequences if not complied with

  • Absorption of the contract workers
  • Payment of arrears of contribution with interest
  • Fine and/or imprisonment

Our Contract Workers Compliance Services is beneficial for all stakeholders: the principal employer, contract workforce and the contractor. We have pioneered in the engagement of blue-collared workers in organizations. Our efforts in ensuring minimum wages, timely remittance of ESI, PF, P.TAX and LWF payments and access to health care have enhanced their quality of life and generated impact on their families.

Service Highlights:

  • The time office is managed by Brilliant Corporate
  • Registration Certificates (RC’s) will be obtained, including applicable contractors
  • Provision of contractual licensing, registrations, documentation and returns
  • Efficient processes that ensure minimum wage
  • Principle employers’ and contractors’ coding provided by the EPF and ESI
  • Expertise in accident support

We at Comrades provide efficient dependable Factory Compliance Audit Services for esteemed clients across the globe. We possess the experience, the contacts and the insider’s knowledge of Indian manufacturers to render the Factory Audit Services in an effective manner. We offer the Factory Audit Services to clients within their fixed budget.

Range Of Factory Audit Services Includes:

  • Social Compliance Audit Services

  • Technical Compliance Audit Services

  • Fare Trade Certification

  • Client’s Code of Conduct

(a)   Social Compliance Audit Services

We are into providing dependable Social Compliance Audit Services to the esteemed clients. Social Compliance Audit Services entails a way of measuring and reporting on an organization’s social and ethical performance. This audit assesses if the Organization is meeting those standards and complying with established policies, operating procedures and national /local laws.

(b)  Technical Compliance Audit Services

We believe in providing reliable Technical Compliance Audit Services to the esteemed clients across the globe. The audits under the Technical Compliance Audit Services help to find the capable/appropriate vendor /factory base to suit your requirement before your business decision. Customers can be eased for obtaining the Technical Compliance Audit Services at affordable rates.

A payroll or compliance audit is an audit of a contributing employer’s records to verify that the employer has contributed to the plan as required by a collective bargaining agreement. Performed effectively, a payroll audit can determine whether or not the employer has reported all required hours and wages, and can identify deficiencies or delinquencies for amounts due to the plan.

Are Payroll Compliance Audits Required?

The Department of Labor has suggested that, without performing payroll audits, it is difficult for your plan’s independent qualified public accountant to ensure the completeness of plan employer contributions. Therefore, the Department of Labor believes that an effective payroll audit program is required. Without an effective payroll audit program, the Department of Labor believes that the plan’s auditor should strongly consider issuing a qualified opinion on the plan’s financial statements.

Who Must Perform the Payroll Audits?

Employee Benefit Plans states that trustees may engage the employer’s auditor, other outside auditors, in-house compliance personnel, or others to perform agreed-upon procedures to test the completeness of employer contributions. External auditors (CA) will refer to the payroll audits as an agreed-upon procedures engagement.

Payroll auditing performed in-house can be less expensive if the plan uses its own employees to do the audits. In-house auditors can also be used effectively to educate contributing employers regarding their reporting responsibilities in complying with the collective bargaining agreement. Hiring outside auditors to perform the payroll audits removes administrative burdens of employment and training from the plan.

How Often Should Payroll Audits be Performed?

Benefit Plans states that a representative group of contributing employers should be tested each year with payroll audits. The number of payroll audits to perform and which contributing employers to audit in any given year should be dependent upon the circumstances and is ultimately up to the judgment of the trustees to decide. Typically, a small plan would cover all employers in a three- or four-year cycle, which may not be practical for a national plan with thousands of contributing employers.

For example, a plan may choose to audit each employer every three years and discover that most are reporting accurately. In cases like these, it would be appropriate to consider adding years between audits of those contributing employers. Plan trustees may find, also, that some employers regularly are delinquent or deficient, and thus should receive more frequent audits. However, a random sample should be drawn each year in selecting at least some of the contributing employers for audit. With this method, every contributing employer would have the opportunity of being audited.

The amount of revenue generated from the payroll audit program is a good indicator of the number of payroll audits to perform. As revenues increase as a percentage of costs of the audit program, then consider increasing the number of payroll audits performed. If revenue is decreasing as a percentage of costs, then consider reducing the number of payroll audits performed.

What Procedures Should be Performed?

Trustees should monitor the effectiveness of its payroll auditing program regularly. They need to determine what procedures are adequate. When conducting an audit of the plan, the external independent qualified public accountant needs to ensure that certain minimum procedures are performed to comply with current auditing standards when auditing employer contributions.

INDIA is the first country in the world to make environmental audits compulsory. The government of India, by its gazette notification [No. GSR 329 (E)] of March 13, 1992, made it mandatory for all industries to provide annual environmental audit reports of their operations, beginning with 1992-93. This required industries to provide details of water, raw materials and energy resources used, and the products and wastes generated by them. These audit reports were to be submitted to the concerned State Pollution Control Boards or before September 30 every year.

Environmental Audit can be defined as a basic management tool comprising a systematic, documented, periodic and objective evaluation of how well environmental organisations, management systems and equipment are performing. The aim of the audit is to facilitate management control o environmental practices and to enable the company to assess compliance with its policies including meeting regulatory requirements.

An environment audit programme, if designed and implemented conscientiously, can enhance an industry’s environmental performance. If an industry sets up its own system in compliance with existing laws, then conducting audits would be a normal and considerably easier procedure. It will expose problems that require action. It improves the material and energy efficiency of production processes, conserves resources, minimises wastes, provides direct economic benefits to the industry and stimulates growth of the industry as well as the national economy.

Environmental audits are vital not just for a clean environment but also because their use is the best way to correct different problems detected at their source and to minimize wastes and foresee conservation and maintenance measures needed to prevent major pollution problems.

Environmental compliance audits

As the name implies, these audits are intended to review the site’s/company’s legal compliance status in an operational context. Compliance audits generally begin with determining the applicable compliance requirements against which the operations will be assessed. This tends to include federal regulations, state regulations, permits and local ordinances/codes. In some cases, it may also include requirements within legal settlements.

Compliance audits may be multimedia or programmatic. Multimedia audits involve identifying and auditing all environmental media (air, water, waste, etc.) that apply to the operation/company. Programmatic audits (which may also be called thematic or media-specific) are limited in scope to pre-identified regulatory areas, such as air.

Audits are also focused on operational aspects of a company/site, rather than the contamination status of the real property. Assessments, studies, etc. that involve property contamination/remediation are typically not considered an environmental audit.

What are their benifits?

Benefits vary depending on the objectives and scope of the audit. Environmental auditing benefits include:

  • Organisations understand how to meet their legal requirements;
  • Meeting specific statutory reporting requirements;
  • Organisations can demonstrate they are environmentally responsible;
  • Organisations can demonstrate their environmental policy is implemented;
  • Understanding environmental interactions of products, services & activities,
  • Knowing their environmental risks are managed appropriately;
  • Understanding how to develop and implement an ISO 14001 EMS; and
  • Improving environmental performance and saving money.