Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities
2011-07-14

DIPP to create new entities

In a move to help SMEs, DIPP will be creating new entities

The department further said the proposed entities could be trusts or private entities. The industry would have the option of asking the entity to provide pension-related services.

 

These service entities could have their own medical facilities or could tie up with other hospitals to assist the SMEs in availing services under the Employees State Insurance (ESI) Act. The move would not need an amendment to the ESI Act since there is already a provision for such an option.

 

"The proposed concept implies that, short of assuming the criminal liabilities of the companies, most business related statutory liabilities can be assumed by this entity," it said.

 

FE had earlier reported that this proposal is under process. As reported, the proposed entity can constitute a profitable business model and can function on commercial lines. Under the proposal, the outsourcing service entities can double up as insurance companies and provide a job loss policy cover in case of retrenchment.

 

The paper said that while large industries can engage professionals to comply with the statutory obligations, SMEs are largely single-man or family-managed entities. They do not have resources to employ full-time professionals to manage the legal compliance issues.

 

Related opportunities
  • Juices / Smoothies / Dairy parlors
    About Us: Shakes & Creams brings a luxurious twist to the..
    Locations looking for expansion Haryana
    Establishment year 2016
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
  • Courier & Delivery
    About Us: Arogya Herbs was established in 2013 with a thought..
    Locations looking for expansion Madhya Pradesh
    Establishment year 2013
    Franchising Launch Date 2013
    Investment size Rs. 2lac - 5lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Indore Madhya Pradesh
  • Kitchen's Heaven was founded by Mr. Savan Kotecha in 2014,..
    Locations looking for expansion Gujarat
    Establishment year 2014
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ahmedabad Gujarat
  • Kids Entertainment Zones
    About Us: Launched in 2012, SMAAASH is one of India's acclaimed..
    Locations looking for expansion Delhi
    Establishment year 2012
    Franchising Launch Date 2011
    Investment size Rs. 2 Cr. - 5 Cr
    Space required 5000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater new Delhi Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts