7,6,1*/$%285&203/,$1&(6 3$*( · 2020-07-24 · efficient risk and compliance management.Avantis has...
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Transcript of 7,6,1*/$%285&203/,$1&(6 3$*( · 2020-07-24 · efficient risk and compliance management.Avantis has...
DIGIT IS ING LABOUR COMPL IANCES
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ABOUT AVANTIS
Avantis, a TeamLease Company, is India's leadingRegulatory Technology (RegTech) solutions companyenabling Ease of Doing Business for over 1,100 legal entitiesacross 28 States and 9 Union Territories. Avantis offersstate of the art multi-tenant, SAAS solution on its web andmobile platforms, enabling a transparent, accountable andefficient risk and compliance management.Avantis has oneof the most comprehensive Legal and Compliance databasein India with over 1,100 Acts and 60,000 Compliancesupdated on a near real time basis covering over 3,000changes every year. It helps Directors, Board Members andLegal and compliance officers stay up to date on theircompliance requirements and reduce operational,reputational and financial risks. Avantis enables tracking &management of all the Compliances across the law of theland. In addition, it helps process data and generateReturns, Registers & Challans for all Labour Compliances inIndia.
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1,100+ Acts
58,000+ Compliances
3,100+ Filings
3,000+ Changes per year
12,000+ Locations
200,000 Compliances Tracked
Per Month
100,000+ Documents per
Month
7,000+ Users
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Labour Laws are on the concurrent list of the Constitution. As a result, Central & State Governmentslegislate on all labour matters. Different states have implemented the rules in their own ways leadingto differences in formats, forms, due dates, applicability, duty structures, payment methods,enforcement authorities among others. As a result, Labour Law Compliances in India are Complex. Amulti-locational organisation deals with several hundred Labour Compliances in a month such asLicenses, Registrations, Consent Orders, Permissions, Renewals, Returns, Registers, Challans,Payments among others. Managing Labour Compliances needs deep expertise of the law along with resources across yourorganisation for day to day management. Most organisations do not have in-house capabilities andresources to manage the complexity. As a result, they end up outsourcing services to third partyvendors.
LABOUR COMPLIANCES IN INDIA: ANOVERVIEW
DIGIT IS ING LABOUR COMPL IANCES
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Payroll Compliances
Includes Provident Fund (PF), EmployeeState Insurance (ESI), Professional Tax
(PT) & Labour Welfare Fund (LWF). Thesecompliances require a onetime
Registration and Periodic Payments,Challan Preparations and Filings
TYPES OF LABOUR COMPLIANCES
Factory Compliances
Includes compliances under Factories Act,1948 such as one-time license, Consent to
Operate, Designation of Occupier andFactory Manager, Periodic Returns,
Accident Register among others
CLRA Compliances
Includes Complaince under ContractLabour such as maintenance of registers
by Contractor and periodic filings
Shop & EstablishmentCompliances
Includes Compliances under Shops &
Establishment Act, Minimum Wages Act,Payment of Wages Act, Payment of Bonus
Act & Equal Remuneration Act.Compliances include maintenance of
muster rolls, wage registers, leave andattendance register, register of fines &
deductions among others. This categoryalso includes Registrations & Periodic
Renewals
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KEY CHALLENGES IN THE CURRENT MODEL
Complex Too many forms, too manyformats, too many dates andfrequent changes
Highly Manual No technology based selfservice software available
Inefficient Too many hours / days spentto prepare regulatory records
Error Prone Too many points of failuredue to human errors andcomplex computationrequirements
Expensive Outsourced ManagedServices are expensive. Only a handful of Nationalvendors with expertiseavailable.
Highly Fluid Forms, Formats, Dates &other requirementschanges frequently. In2019, 694 changehappened in Labour Laws
Data Privacy Issues Outsourcing requires sharingof confidential data with thirdparty who may not have therelevant privacy controls
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DIGIT IS ING LABOUR COMPL IANCES
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AVACOM-LABOUR: AN INTRODUCTION
Self Service Solution
Avacom-Labour is a self-service solution to all your LabourCompliance needs. Your internal HR team can now leveragethe platform to generate all relevant regulatory records
Avacom-Labour is India's leading software product that automates preparation of all Labour Registers, Returns & Challans across India.
One time quick and easy on-boarding
Your organisation (entities, branches, factories, employees,states, applicable acts & compliances) are set up at the time ofon-boarding
Periodic Data Upload Capability
There are predefined input file formats which can easily becreated and uploaded on the required frequency (monthly,quarterly and annual).
Centralised Document Repository
New and historical regulatory records available in an easy tosearch, sort, filter document repository with version controland tamper proofing. All the input files are also available forfuture reference .
Multiple Deployment Options
Avacom-Labour is available in a SAAS (Cloud Hosted) or On-Premises (Virtual Private Cloud / In-house Data Centre)hosting models based on your requirements
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Here are the key features:
Multiple Pricing Option Pay as you go pricing model available which is easy on yourbudgets .
Templatized Forms and Formats The System comes integrated with all the forms and formatsacross Central, 28 States & 9 Union Territories. These formatsare updated as and when they undergo changes. Theregulatory records are automatically generated in theapplicable forms upon successful data upload .
Smart Dashboard The System have colour coded, Graphical, Drill DownDashboard Capability which is highly intuitive, real timeupdated and can be Personalised by the user. Dashboard canbe Configured based on Financial Year, Entity/Location anddifferent periods.
Auto Generated Compliance Calendar Avacom- Labour has Auto generated Monthly complianceCalendar with Current and previous months details. It isColour coded and shows status by days and it is integratedwith the mail Clients (Outlook Client / Office 365, Google forBusiness Calendar).
Secure Avacom-Labour is secure with the best in class informationsecurity and data privacy practices including state of the artencryption standards for data at rest and data in motion
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Role Based Access Management Different users can be configured in the system based ontheir roles and accesses for different offices / factories.
Workflow Management Capabilities to assign and manage work items to differentusers based on their roles
Integrated Legal Updates Avacom – Labour has a feature of real time legal updates(within 24 hours of the notification), it covers all the States andterritories. System can also be configured for personalisedlegal updates based on Industry, Regulator, State/UTs,ministry and key words.
Weekly / Monthly Newsletter Auto generated weekly / monthly legal updates newsletterbased on applicable Acts / Compliances to your organisation.
Flexible Analytics & Reporting Capabilities System have Comprehensive graphical standard reports andalso have the capability to generate on demand reports withvarious parameters.
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Contract Labour (Regulation & Abolition) Act
Employee’s Compensation Act
Employees' Provident Funds and Miscellaneous Provisions Act
Employees' State Insurance Act
Employment Exchange (Compulsory Notification of Vacancies) Act
Industrial Establishment (National & Festival Holidays) Act
Labour Welfare Fund Act
Maternity Benefit Act
Minimum Wages Act
Payment of Bonus Act
Payment of Gratuity Act
Payment of wages Act
Shops & Commercial Establishment Act
Tax on Professions, Trades, Callings and Employment's Act
The Factories Act
The Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act
Returns 276 Returns under 16 Acts covering all states and UTs
AVACOM - LABOUR
Compliance Coverage
Employees' Provident Funds andMiscellaneous Provisions Act
Employees' State Insurance Act
Tax on Professions, Trades, Callings andEmployment's Act
Challans Covering 3 acts (PF, PT and ESI)
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D IGIT IS ING LABOUR COMPL IANCES
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Contract Labour (Regulation & Abolition) Act
Equal Remuneration Act
The Factories Act
Industrial Establishment (National & Festival Holidays) Act
Labour Welfare Fund Act
Maternity Benefit Act
Minimum Wages Act
Payment of Wages Act
Shops & Commercial Establishment Act
Registers 608 Registers under 9 Actscovering all states and UTs
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AVACOM - LABOUR: KEY BENEFITS
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D IGIT IS ING LABOUR COMPL IANCES
Centralized Documentrepository enablesquick and easy accessto all historicalregulatory recordsand raw data files.
Easy Data Access
No sharing of datawith third party andhigh Encryptionstandards providesgreater control andprivacy.
Privacy Protection
Accurate outputs dueto minimum manualintervention, systemdriven datacomputation andcurrent forms andtemplates.
DataQuality
Enables capability forcentralised dataprocessing leading togreater control andefficiency overmanagement ofRegisters and Returns.
Efficiency
Records can begenerated based onthe user requirement.Multiple documentscan be regenerated.
NeedBased
Significant automationleading to lower costof ComplianceManagement.
CostEffective
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AVACOM MOBILE APP
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