A' Ltd. want to fulfill the second dream of its employees and help to achieve the first one.
Since, the employers believe in employee freindly plocies- What should be the best plan?
Can an employee welfare fund of A' ltd.be created ? or a new co. be created solely for this purpose- wherein the capital be subscribed by the promoters/employers?
What are the angles from the C.A'56 and I.T. act'61 be checked and followed? i.e how it is to be created?
who would be the trustees/members of the welfare fund?
what will be legal status?
How to create loan?
how A' ltd. can recover and secure the loan amt.?
what should be the idle parameters/criteria for the applicant?
can the employee create lien on the P.F./Gratuity / S.A.etc. fund in favour of A' ltd. agaisnt the debt (loan)?
The funding in the welfare fund can be only from A' ltd. or the promoter/employers' funds also can be sourced?
Kindly share your thoughts/knowledge at the earliest with in other points in this regard.