Establishing New Venture

Company Formation | Public & Private Company | Hiring People
Raising Finances | Winding Up a Company

Establishing New Ventures - Hiring People

Hiring staff and workers

Trained managerial, professional and technical staff, as well as skilled and unskilled workers are available in India at competitive emoluments. Managerial and supervisory jobs are usually filled through advertisements in the print media, campus recruitment and hiring consultants. For hiring workers, companies advertise locally, go to industrial training schools or contract local employment exchanges. Appointing auditors of accounts, internal auditors and company secretary is required in most cases, through it is not a pre-investment condition.

Hiring of Foreign Nationals

Indian firms/companies may engage the services of foreign nationals (including non-residents of Indian nationality/origin). Applications for remittance of remuneration to foreign nationals should be made by Indian companies to authorised dealers. While allowing the remittance, authorised dealers are required to verify that:

1. the total duration of engagement of foreign nationals by the applicant firm or company does not exceed twelve man-months in a calendar year.

2. the amount of remittance sought for is in accordance with the terms of contract entered into by the applicant company with the foreign national.

3. the services of the foreign national are not covered either by any foreign collaboration agreement entered into by the Indian company or under any warranty obtained providing for deputation of the foreign nationals without any remuneration or any payment during the warrant period. If the period of engagement of a foreign national exceeds three months at a time, prior clearance is required from the Ministry of Home Affairs as well as approval from the RBI.