ALL OTHER APPLICABLE LAWS ON THE COMPANY ASHOK TYAGI FCS-2968
[email protected] 9810070575 OTHER LAWS Reference of Other Laws Section 134(5)(f) of the Companies Act, 2013 provides that The Directors’ Responsibility Statement shall state that the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively. Section 205 of the Act states that The functions of the Company Secretary shall include to report to the Board about compliance with the provisions of this Act, the rules thereunder and other laws applicable to the Company. Format of the Secretarial Audit Report (MR-3) also talks about mentioning other laws as may be applicable specifically to the Company. CATEGORISATION OF OTHER LAWS GENERAL LAWS INDUSTRY SPECIFIC LAWS General laws are usually applicable to all Companies. Some of them are enlisted below: Income Tax Act, 1961 and Rules made there under; Payment of Gratuity Act, 1972; Central Sales Tax Act, 1956 as amended from time to time and Rules made there under; Employees State Insurance Act, 1952 and Rules made there under; The Maternity Benefit Act, 1961 and Rules made there under; The Finance Act, 2004 and Service Tax Rules; Wealth Tax Act, 1957; Employees Provident Fund and Miscellaneous Provisions Act, 1952; Environment Laws; Various Labour Legislations. INDUSTRY SPECIFIC LAWS Industry Specific Laws differ from Industry to Industry depending upon the area and type of work into which an industry is operating. Tentative