Author: Fastlegal Team

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PHED Contractor Enlistment in Rajasthan

Posted on by Fastlegal Team

In this article we will discuss about PHED Contractor enlistment in Rajasthan, the qualification for the enlistment of contractors with PHED is prescribed in Contractor Enlistment Rules. If any Company or Firm want to work on projects of PHED in Rajasthan, they are required to get enlisted in the department as their contractor.

Phed Contractor Enlsitment

Class of Civil Contractors for PHED Contractor:

  • AA Class
  • A Class
  • B Class
  • C Class
  • D Class

Who Will Enlist Contractors for PHED Contractor:

Contractor ClassEnlistment Authority
AA ClassChief Engineer of the Respective Engineering Department
A ClassChief Engineer of the respective Department
B ClassAdditional Chief Engineer of the respective Zone
C ClassSuperintending Engineer of the Circle
D ClassExecutive Engineer of the respective Division

Past Experience for PHED Contractor Enlistment:

Past experience for enlistment for various classes shall be as given below. When applying for enlistment, the contractors of all classes will be required to submit list of works executed, the amount of each individual work being not less than the amount indicated in col.3 of table given below under each class, the authorities under which the works were carried out and the time in which these were carried out.

S.No.ClassPast Experience for Enlistment
1.AA ClassSatisfactorily completed 2 works each costing not less than Rs. 1 crore during three years.
2.A ClassSatisfactorily completed 2 works each costing not less than Rs. 50 lac during three years.
3.B ClassSatisfactorily completed 2 works each costing not less than Rs. 10 lac during three years.
4.C ClassSatisfactorily completed 2 works each costing not less than Rs. 2 lac during three years.
5.D ClassNil

Class of Contractor and Amount of Work that can be done :


S. No. 
Class of contractors		Extent upto which qualified to tender for any, work
1AA classAny amount
2A ClassUpto Rs. 3.00 crores
3.B ClassUpto Rs. 1.50 crores
4.C ClassUpto Rs. 50 Lacs
5.D ClassUpto Rs. 15 Lacs

Registration fee Contractor Registration : 


Class of contractors		Amount of Registration Fee in Cash/Treasury Challan/Bank Demand Draft (Non-refundable)Amount of Security Deposit in form of Interest bearing deposit/FDR of Bank 
ClassAA
Rs. 30,000.00		8 Lakh
Class ARs. 22500.004 Lakh
Class BRs. 15000.002 Lakh
Class CRs. 6000.001 Lakh
Class DRs. 3000.00 50 Thousand 

Documents Required for PHED Contractor

  • Copy of PAN
  • Copy of Aadhar Card
  • Photograph
  • GST Registration Certificate
  • Address Verification of Firm/Company’s by police station/post/Councilor/Sarpanch (Verification must be attested)
  • Affidavit of a close relative of Proprietor/All partners/Directors
  • Two Certificates of work completed satisfactorily in last 3 years with work order and documents of T.D.S. deduction (26 A.S.) (amount in lacs)
  • List of machinery, plant, and documents of ownership and list of working staff on the stamp of Rs. 50 / – (rent nomination of machinery on the stamp of Rs. 500 /with Ownership documents)
  • Attested report(3B report) of latest GST return
  • Affidavit regarding Sales Tax on a stamp of Rs. 50/- and undertaking released by C.A.
  • Bank Confidential Report regarding

For Any help regarding PHED Contractor Enlistment Please call us at 9782280098

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How AI Will Change Small Businesses in the Next 5 Years

Posted on by Fastlegal Team

In this article we will discuss about AI Impact on Small Businesses , Artificial intelligence (AI) is rapidly changing the world, and its impact on small businesses is significant. In the next five years, AI is expected to have a significant impact on small businesses, helping them to become more efficient, competitive, and customer-centric. Here is a detailed look at the impact of AI on small businesses, including its benefits, challenges, and specific use cases:

Positive AI Impact on Small Businesses :

  • Automating tasks: Small businesses can use AI to automate tasks such as bookkeeping, inventory management, and customer support, freeing up time for more strategic activities.
  • Personalization: AI algorithms can analyze customer data and behavior to provide personalized recommendations and experiences, helping small businesses to build stronger relationships with customers and increase loyalty.
  • Improved decision-making: AI-powered analytics tools can help small businesses make data-driven decisions by providing insights into customer behavior, market trends, and operational efficiency.
  • Enhanced cybersecurity: AI algorithms can detect and respond to cyber threats more quickly and accurately than humans, helping small businesses to protect their data and assets from cyber attacks.
  • Increased competitiveness: AI technology can help small businesses compete with larger companies by providing them with access to the same advanced technologies and tools.

Challenges of AI for Small Businesses:

  • Cost: AI technology can be expensive, especially for small businesses with limited budgets.
  • Skills: AI requires specialized skills and knowledge to implement and use effectively. Small businesses may need to invest in training or hire outside help to get up to speed on AI.
  • Data: AI algorithms require large amounts of data to train and operate effectively. Small businesses may need to collect and store more data than they are currently doing.
  • Regulation: AI is a rapidly evolving field, and the regulatory landscape is still developing. Small businesses need to be aware of the potential regulatory risks associated with AI.

Specific Use Cases of AI for Small Businesses:

  • A restaurant using chatbots to automate customer service, freeing up employees to focus on cooking and serving food.
  • A retail store using cameras and sensors to personalize the shopping experience for customers with personalized recommendations.
  • A manufacturing company using sensors to improve its production process by identifying areas where the production process can be improved.
  • A financial services company using AI algorithms to detect fraud and reduce fraud losses.

Overall, AI is expected to have a significant impact on small businesses in the next five years. While there are challenges associated with implementing AI for small businesses, the potential benefits are significant. By embracing AI, small businesses can become more efficient, productive, and customer-focused, which will help them to compete and succeed in the future.

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LLP Form 11 Annual Return for LLP

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LLP Form 11 is the annual return that must be filed by every LLP (Limited Liability Partnership) registered in India. The form must be filed once every year, and it provides information about the LLP’s management, partners, and capital contributions.

Form 11 LLP

Who needs to file LLP Form 11?

LLP Form 11 is an annual return that must be filed by every LLP registered in India. The form provides information about the LLP’s management, partners, and capital contributions. It must be filed once every year, and the due date for filing the form is 30th May of each financial year.

Who needs to file LLP Form 11?

Every LLP registered in India must file LLP Form 11 annually, regardless of whether it has carried out any business activities during the financial year.

What is included in LLP Form 11?

LLP Form 11 includes the following information:

  • Name and registered address of the LLP
  • Details of the designated partners and partners
  • Details of the LLP’s capital contributions
  • Details of the turnover of the LLP during the financial year
  • Details of any changes in the management or partners of the LLP during the financial year

It is important to note that LLP Form 11 does not require the submission of tax returns or financial statements.

Late fee for filing LLP Form 11

The late fee for filing LLP Form 11 has been revised by the Ministry of Corporate Affairs as per the latest notification dated April 30th, 2021. The revised late fee structure is as follows:

  • For filing the form after the due date but within 30 days: No late fee
  • For filing the form after 30 days but within 60 days from the due date: Rs. 10 per day for small LLPs and Rs. 20 per day for other LLPs
  • For filing the form after 60 days from the due date: Rs. 100 per day for small LLPs and up to 50 times of normal fee applicable to other than small LLPs based on the number of days delayed.

It is important to note that late fees for LLP Form 11 are only applicable to the number of days delayed and not for the tax return or financial statement.

Frequently Asked Questions (FAQs) for filing LLP Form 11

Q. Is it mandatory to file LLP Form 11? A. Yes, every LLP registered in India must file LLP Form 11 annually.

Q. What is the due date for filing LLP Form 11? A. The due date for filing LLP Form 11 is 30th May of each financial year.

Q. What is the late fee for filing LLP Form 11? A. The late fee for filing LLP Form 11 is as per the revised structure mentioned above.

Q. What information is required to be submitted in LLP Form 11? A. The LLP’s management and partner details, capital contributions, and turnover during the financial year are required to be submitted in LLP Form 11.

Q. Is it necessary to submit tax returns and financial statements with LLP Form 11? A. No, tax returns and financial statements are not required to be submitted with LLP Form 11.

In conclusion, LLP Form 11 is an important annual return that must be filed by every LLP registered in India. The form provides information about the LLP’s management, partners,

capital contributions, and turnover during the financial year. The late fee for filing LLP Form 11 has been revised, and it is important for LLPs to file the form before the due date to avoid any late fees.

LLP Form 11 is a simple form that does not require the submission of tax returns or financial statements. LLPs must ensure that they provide accurate and up-to-date information in the form to avoid any penalties or legal issues.

In summary, filing LLP Form 11 is a mandatory requirement for all LLPs registered in India. The form must be filed annually and provides important information about the LLP’s management, partners, and capital contributions. LLPs must ensure that they file the form before the due date and provide accurate information to avoid any legal issues or penalties.

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How to Create Free Business Email from Zoho Mail

Posted on by Fastlegal Team

In this article we will discuss Creating a free business email address from Zoho Mail is an easy and straightforward process. With Zoho Mail, you can create a professional business email address with your own domain name and have complete control over your email. In this blog post, we will show you how to set up a free business email address with Zoho Mail.

Creating a free business email address with Zoho Mail is a great way to give your business a professional look and feel. With Zoho Mail, you can easily create a custom business email address and have complete control over your email.

Steps to Create Free Business Email From Zoho Mail

Step 1: Create a Zoho Mail Account

To get started, you’ll need to create a Zoho Mail account. You can do that by visiting the Zoho Mail website and clicking on the ‘Sign Up’ button. Then, you’ll need to enter your name, email, and create a password for the account.

Step 2: Choose Your Domain

Once you’ve created an account, you’ll be asked to choose a domain for your business email address. You can either choose a domain from the list of available domains or create your own custom domain.

Step 3: Enter Your Account Information

Once you’ve chosen a domain, you’ll need to enter your account information such as your name, email address, and password. Make sure to double-check that all the information is correct before proceeding.

Step 4: Verify Your Email Address

Once you’ve entered your account information, you’ll need to verify your email address. Zoho Mail will send a verification link to the email address you provided. All you have to do is click on the link and your business email address will be ready to use.

Step 5: Setup Your Business Email

Now that your business email address is verified, you can start setting it up. You can customize your email address by adding filters, labels, aliases, and more. You can also set up advanced features like auto-reply and vacation messages.

And that’s it! You’ve successfully created a free business email address with Zoho Mail. Now, you can start using your new business email address to communicate with customers, partners, and other stakeholders.

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Draft Format SIMPLE WILL GIVING ALL PROPERTY TO WIFE

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SIMPLE WILL GIVING ALL PROPERTY TO WIFE

I, AB hereby revoke all former WILLS AND CODICILS made by me and declare this to be my last will whereby I bequeath and devise all my movable and immovable property whatsoever to my wife CD and appoint her sole executrix of my this WILL.

IN WITNESS WHEREOF. I have signed this will hereunder on the …day of …………, 2000.
Sd/………………..
(A B)

Signed by the above-named testator in our presence at the same time and each of us has in the presence of the testator signed his name hereunder as an attesting witness.

WITNESSES;

1…………………….

2…………………….

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Draft Format of Acknowledgement of Debt

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ACKNOWLEDGEMENT OF DEBT

I,_____ hereby confirms and acknowledges to ________(creditor ) that the undersigned is indebted to the creditor in the amount of ____ as of date hereof which amount is due owing includes all accrued interest and other permitted charges to date. We further acknowledge that there are no defence to, or credits or rights of set off as against balance and that the creditor shall be authorize to enter a confession of judgment against the undersigned for the amount of debt acknowledged to be due.

Signed this on____ day of ___ 20___

Signature of Debtor:

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How To Get Food Processing Enterprises Subsidy Under PMFME Scheme in Rajasthan

Posted on by Fastlegal Team

In this article we will Discuss about Food Processing Business Subsidy in Rajasthan under PMFME Scheme. If any entprenuer wants to setup Food Processing Business than he can apply for Subsidy under the PMFME Scheme in Rajasthan

Food Processing Business Subsidy

How much Food Processing Business Subsidy is provided by Government :

Individual micro food processing units would be provided capital subsidy @35% of the eligible project cost with a maximum ceiling of Rs.10.0 lakh per unit.

What is Eligible Project Cost to Avail Food Processing Business Subsidy :

  • It includes
  • Cost of Plant & Machineries
  • Technical Civil Work (Maximum 30% of Eligible Project Cost)
  • Excludes Cost of land/rental or lease work shed.

Quantum of Loan :

The project under this scheme shall be eligible for a loan up to 90% of the estimated/actual project cost on submission of viable projects be eligible beneficiaries.

Owner contribution should be a minimum of 10% of the eligible project cost.

Eligibility criteria for individual micro Food Processing Enterprises :

  • Eligible for both existing and new micro food processing enterprises for expansion/up gradation of existing food processing enterprises or setting up of new micro food processing enterprises are eligible under this scheme.
  • Food Processing means any operation that manufactures/process food for human and animal consumption.
  • Micro food processing enterprises means food processing units in operations with investment not exceeding Rs.1 crore and turnover not exceeding Rs.5 crore.
  • The enterprise should be unincorporated and should employ less than 10 workers
  • The applicant should have an ownership rights of the enterprise.
  • Ownership status of the enterprise could be proprietary / partnership firm/Pvt Limited Company/ FPO/NGO/SHG/Co-Operative.
  • The applicant should be above 18 years.
  • Only one person from one family would be eligible for obtaining financial assistance. The “family” for this purpose would include self, spouse and children
  • Willingness to formalize and contribute10% of project cost and obtain Bank loan

Documents Required for getting subsidy/Loan:

  • PAN Card
  • Photo & Copy of Aadhaar card of all promoters/partners/directors
  • Address Proof (Not before 2 months) i.e. Electricity, telephone, Water Bill etc.
  • Description of unit/factory
  • 6 months’ Bank Statement
  • Quotations of Plant & Machineries
  • Estimates for  enterprises  building shed
  • In principle approval letter from the bank

Not Eligible Food Processing Enterprises Subsidy

  • Trading & selling of unprocessed Millets/Cereals/Spices etc.
  • Unprocessed or loose milk ( Selling of Milk/Curd)
  • Trading and selling of fruits and vegetables
  • Trading and selling of unprocessed minor forest products
  • Bee Keeping/Loose selling of Honey
  • Loose selling, trading and repacking of Oil
  • Trading and selling of groundnut, Areca nut.
  • Poultry, Piggery, Goatry or and rearing activity of animals
  • Trading and selling of fresh fish/meat/chicken etc.
  • Repacking of manufacturing products.
  • Canteen, grocery, hotel, Tiffin services, restaurant or any others food service enterprises.
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Statutory Audit in Private Limited Company

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A statutory audit is a legally required audit of the financial statements of a company by an external auditor. It is conducted to ensure that the financial statements are in compliance with applicable accounting standards and other legal requirements. The statutory audit of a private limited company is conducted to ensure that the financial statements presented by the company to its shareholders are true, fair and accurate. The statutory audit of a private limited company is conducted by an independent Chartered Accountant (CA) or an audit firm registered with the Institute of Chartered Accountants of India (ICAI). The auditor is required to check and verify the accuracy of the financial statements, the reliability of the accounting records, the internal controls, and compliance with applicable laws and regulations. The auditor is also required to provide an opinion as to whether the financial statements give a true and fair view of the company’s financial position and operations. The statutory audit is conducted in accordance with the applicable accounting standards and other legal requirements. The auditor is required to review the financial statements in detail and provide an independent opinion as to whether the financial statements are prepared in accordance with the applicable accounting standards and other legal requirements. The auditor is also required to review the internal controls and ensure that the company’s financial records are accurate and reliable. The statutory audit report is issued by the auditor to the shareholders at the end of the audit process. The audit report contains the opinion of the auditor as to whether the financial statements give a true and fair view of the company’s financial position and operations. The audit report is important because it provides the shareholders with assurance that the financial statements are accurate and reliable. The statutory audit of a private limited company is an important process that helps to ensure the accuracy and reliability of the financial statements. It is also important for shareholders to receive assurance that the financial statements are in compliance with applicable accounting standards and other legal requirements.

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Share Certificate in Private Limited Company in India

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A Share Certificate is a legal document which is issued by a private limited company in India to its shareholders in which the number of shares owned by them is mentioned. It is a legal document which serves as a proof of ownership of shares in the company and acts as a primary evidence of the same. It is usually signed by the company’s authorised signatory and the company’s seal is affixed on it. It is a crucial document which is required whenever the shareholder wishes to transfer or sell the shares.