Proprietorship Firm has been different for a serviced based business and a product based business. so we divided business in 2 Category.
1. Service Based Business –.
2. Product Based Business –.
So Both Business you have to take following actions: -
a) Apply for the GST Registration.
b) Open a current bank account on the basis of GST Registration Certificate.
Registration under Shops and Establishment Act: This is state specific requirement, in some states it is mandatory and in some it is optional, for example in the Delhi NCT it is optional.
Local Municipality Registration: This kinds of registration are mandated by some of the municipalities and applies to the firms operating in the territorial jurisdiction of the municipality.
Import Export Code:This is also known as IEC, and is pre-requisite before the proprietorship ventures in to any import or export.
Trade Mark Registration: Brand Name, Logo, Slogan, Label etc.; are intellectual properties which acquires value over a period of time and it is advisable to protect them under as trade mark.
Provident Fund Registration: : The moment number of employees exceeds 20 the proprietor is required to get itself registered with the regional office of the Provident Funds Organization. The contribution rate is 12% each from employee as well as employer.
Employee State Insurance Corporation (ESIC) Registration: : Every organization including the proprietorship concerns employing more than 10 employees having salary more than 15000/- is required to get themselves registered with the concerned Regional office of the ESIC, the contribution to the ESIC is 6.5% wherein 4.75% is contributed by the employer and 1.75% is to be contributed by the employee.
Same as for GST aplication & also if client required to apply for different registeration then document & process change acordingly.