Primecare is a private limited company incorporated under the Companies Act, 1956.
The company adheres with the regulations of the Companies Act, 2013 and the rules made thereunder.
The company is also compliant with Income Tax Act, 1961, GST act and various other laws like PF, ESI, PT and other Labour Laws.
Accounting StandardsFinancial Records & Statements
Financial records include all source documents such as budgets, invoices, vouchers, bank statements, credit advice, journals, cheques, receipts and any other documents which serve as evidence to financial transactions.
The financial statements are to be prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP)
The Financial statements are to comply in all material respects, with the Accounting Standards (AS) notified under the Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the Companies Act, 1956 (to the extent applicable) and the Companies Act, 2013 and the rules made thereunder.
The financial statements have to be prepared on an accrual basis and under historical cost convention.
The accounting policies applied by the Company are to be consistent with those used in the previous period.
The company is also compliant with Income Tax Act, 1961, GST aCT and various other laws like PF, ESI, PT and other Labour Laws.Internal Controls
Internal finance control consists of Company’s plan, procedures and records to assure the reliability of financial reporting as well as safeguard the assets of the organization.
An effective internal control structure includes a series of checks-and- balances required for the appropriate recording and authorization of transactions and ensures that access to assets is limited to authorized personnel.
Each transaction should is divided into component tasks completed by different staff members in order to increase the likelihood of detecting unintentional errors and prevent misappropriation of Company’s assets.
The company strives to achieve excellence in its Accounting and Reporting function by adhering to the best industry practices.
HR Management Policy Framework and Employment Legislation HR management policies are formalized, documented and approved by the appropriate authority. HR management policies comply with employment, workplace health and safety, and other related legislation as applicable in the jurisdiction in which the organization operates. HR management policies are reviewed on a regular basis and revised, if require.Getting the Right People on right time - We believe in merits.
An approved job description is completed for all positions. Recruitment is through an objective, consistent process. Criteria used to select the appropriate individual are established and documented. All individuals external to the organization who are offered a position sign a letter of employment that outlines the working relationship between the individual and the organization. All new employees are oriented to the position and to the organization.Managing People and their Work
Managers and supervisors with the responsibility for managing the efforts of others are provided with appropriate learning opportunities to develop their supervisory skills. All employees have a work plan and performance objectives that identify the tasks/activities and expected results for future performance. The performance of each employee is fairly assessed, annually, at the end of the work plan or performance period. The organization’s performance management process includes the potential for coaching. Employees in order to address performance issues/concerns. The organization provides competitive compensation to employees.Unbiased employees hiring on workplace
The organization is committed to providing a safe work environment. The organization is committed to supporting employee work/life balance. The organization ensures a work environment free of harassment. The organization is committed to promoting an inclusive workplace. The organization has established procedures and informed employees with regard to how to resolve conflicts within the organization.Training, Learning & Development
Every employee’s training and development needs are reviewed at least annually and plans. Established to address any gaps. During the development of the annual budget, consideration is given to including appropriate. Resources to fund employee training and development.HR Planning & Process
The organization has a process to review staffing needs resulting in a plan to address those needs. Critical positions in the organization are identified and succession plans are established to address any potential gaps.
Whistle Blowing Adherence
Our company Primecare in India has adopted the whistle blowing policy. It helps in registering any direct complaints regarding the violation of the company’s code of conduct and also specifies its results and reports if there is any violation of the policy.
Whistle blowing policy can be extremely beneficial for Primecare employees, shareholders, society and the general public will be benefitted at large.
In Primecare the objective of whistle blowing policy is to encourage timely, safe and open reporting of alleged wrong doings or suspected impropriety, to provide adequate safeguards against victimization of persons.
With the coming of the Companies Act 2013, the pressure has been towards fraud elimination and to put an effective corporate vigilance mechanism. The Companies Act 2013 has been developed to eliminate various corporate scandals, loophole by prescribing more strict compliance and norms than which were there earlier.
The Sections 206-229 of the Companies Act 2013 has incorporated detailed provision, which is relating to the inspection, investigation and injury.
Under Section 208 of the Act there will be appointment of an Inspector who is different from the Registrar to inspect records, which is unlike to the provisions of the old act of 1956.
The SFIO, which stands for Serious Fraud Investigation Office, is now a statutory body that has the power to arrest for offences, which are specified as frauds, and this is mentioned under 211 of the Act
This Policy covers all directors, employees, third party vendors, consultants and customers throughout the world, operating out of any location of the Primecare.