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Professional tax is collected by the employers from the monthly salaries. It is then paid by them to the government failing which they can have penalties imposed on them for not collecting or failing to pay the professional tax. If you are not working for anyone then you are liable to pay the professional tax yourself.
In Telangana and Andhra Pradesh Professional tax has to be collected by an employer and paid to the government if their employee crosses a salary of Rs.15,000.
Employees Provident Fund (EPF) is a scheme registration is a mandate for any organization which is having employees of 20 numbers or more under its payroll. EPFO is governed by the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952.
MSME stands for Micro, Small and Medium Enterprises. In a developing country like India, MSME industries are the backbone of the economy.
MICRO SMALL MEDIUM
Import Export Code (IEC) is required by any person who is looking to start an import/export business in India. It is issued by the Director-General of Foreign Trade which consists of a 10-digits IEC code.
FSSAI stands for Food Safety and Standards Authority of India which is an organization that monitors and governs the food business in India. Every food business operator involved in the manufacturing, processing, storage distribution, and sale of food products must compulsorily obtain FSSAI Registration or State License or Central License respectively.
Any Organisation operating business within the corporation/municipality limits of a particular state should obtain a Trade license from the respective state government where it operates.