SBS Global

  Background During 2019 and 2020, as many as 29 labour laws amalgamated, simplified, rationalized into 4 labour codes as below: The code on Wages 2019 The Industrial Relations Code 2020 The code on Social Security 2020 The Occupancy Safety, Health and Working Conditions Code 2020 These four codes are likely to be implemented soon as around 23 states have already come out with draft rules (as Labour is Concurrent subject) How New Labour Code Impact Employees? The four codes, if implemented, will drastically alter the way industrial houses treat their employees and also impact the working hours, take home salary and other rights of employees. Once the wages code comes into force, there will be significant changes in terms of salary restricting, basic pay, provident fund, gratuity of employees are calculated. A key change is that it would impact take-home pay, but increase retirement savings—something that a section employers are opposed to as it may increase their employee costs. As...

Starting a business and managing it is very challenging. Small businesses at their nascent stage have a host of issues to manage. There are several aspects you as a business entrepreneur need to pay extra attention to, Outsourced Accounting Services in India ,  is one of those key aspects to take into consideration while growing your business. Accounting for small businesses requires extra attention as in case of any mistake, the small-scale firms have to bear heavy losses. We have listed down some of the best accounting practices for small business owners to follow. 1. Separate Business and Personal Expenses Most common mistake by an early stage business owner is spending business expenses from personal account. This makes it very difficult to track the money spent on business and evaluate cash flow and profitability of the business. A separate bank account should be opened and inflow and outflow of money should be routed through such account. Advantages of separating business and...

All growing businesses have financial challenges that cannot be addressed by Accountant or expensive CFO. Most Start-ups or SME fall behind in the first thirty-six months of operation due to financial incompetence. The importance of accurate book-keeping , maintaining budgets, tracking profits and loss, and managing your cash flow could determine the survival of your business. Virtual CFO s are commonly hired to provide a financial perspective to business owners as they are aware of business drivers, dangers and best practices to help management to grow business to the next level. 1. Cash Flow Management This is the single most important hurdle for most companies who are likely to run short on cash for next round of funding as business is not stable but opportunities are plenty. The virtual CFO will help in limiting expenditures, budgeting costs, ensuring money in the bank and allocate funds according to business needs. cash flow management 2. Creating An Efficient Infrastructure Creat...