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Incorporation
Dear all,
Please resolve this query on priority basis -
If a group of railway employees want to form an entity for welfare and profit making purposes, what is the best way out ? which form of entity they should go for ? can a governement employee be shareholder/partner/member in LLP/company/multistate cooperative society or other forms ?
kindly revert asap.
thanks
Replies (3)
As per the terms of employment whether Govt. or private an employee normally cannot take up any business activity in any status such as proprietor, partner, director, etc.
1) Group of employees can form a welfare society / trust etc. for welfare employees and their families etc.; and
2) They cannot form a business entity.
Instead they can start the business in name of any of their family members name...
Better not to encourage Benami transactions
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