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Statutory Compliances & Retirals Benefits Management

Due to rapid evolution and dynamism in the business world, adhering with Statutory Compliances today have become very critical in the business sphere. Mynd is a specialist in providing Retirals & Statutory Compliance Management services which enable our clients to comply with the local laws and procedures, while maintaining regular conformity that further prevents any non-compliance issues.

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Statutory Compliances

Prevention of non-compliance issues also helps companies streamline business processes that offer multiple financial & non-financial benefits to our clients. Mynd offers a single point of contact for India compliances and International compliances. For ensuring local compliance requirements are fully adhered, we provide the following:

Registrations, Renewal, Licensing, Documentation and Administration to ensure complete compliance under the various acts related to payroll, including

  • The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (EPF&MP Act, 1952),
  • The Employees’ State Insurance Act – 1948,
  • Employee Professional Tax Act
  • Labour Welfare Fund
  • Payment of Gratuity Act, 1972
  • Superannuation Scheme
  • National Pension Scheme

Provide an end to end management of compliances of additional statutory Acts under Central and State legislations, such as:

  • The Contract Labour (Regulation & Abolition) Act, 1970
  • Shops and Establishment & Factory Act, 1948
  • Payment of Bonus Act Rules – 1965
  • The Minimum Wages Act, 1936
  • The Maternity benefit Act, 1961
  • The Workmen compensation Act, 1923
  • Equal Remuneration Act, 1976
  • Employment exchange (CNV) Act, 1959
  • The Child Labour (Prohibition and regulation) Act, 1986
  • Employers liability Act, 1938
  • Industrial Employment (Standing orders) Act, 1946
  • The Weekly holidays Act, 1942
  • Mines & Minerals Act, 1957
  • Environment Health and Safety (EHS)
  • Support on Policy Implementation for Prevention and Redressal of Sexual Harassment
  • Trust management (Provident fund, Gratuity, Superannuation and pension fund)
  • Assistance to clients in smooth closure of inspections, summons, notices etc. from various Government authorities upto the Court/Tribunal level
  • Provision of sound legal advisory council for assisting clients handle any updations in various statutory regulation on a real time basis
  • Calendar Management to keep track of all relevant compliance dates
  • Provision of an e-library where the client has online access to all statutory documents

Retirals Benefits Administration

Mynd's retirement benefits platform is a one stop solution to clients, irrespective of being a Government run RPFC or having their own trust for PF, Superannuation, Gratuity and Pension. The process operates on a web enabled platform which brings accountability and transparency to the complete process. The bouquet of services offered includes:

  • Provision of tangible and in-tangible benefits by setting up an in-house Fund to Client's organization and its employees
  • Handling complex activities related to obtaining approvals from Income Tax Department, Provident Fund Office, Insurer and /or any other department
  • Drafting of trust deed and rules including all legal activities in this regards
  • Day to day administration services for Fund including Investment advisory, accounting, legal and employee transactions
  • Processing services with latest automation techniques
  • Transparent and IT enabled Help Desk Services for Members
  • Mynd adopts a strategic approach to help clients manage all aspects of their employee's retirals benefits administration and deliver the following advantages-
    • Bring transparency and accuracy to the entire process
    • Address the need to reduce pension expense volatility
    • Enhance investment performance by utilizing refined asset allocation, risk management strategies and other facets

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