Retail Statutory Records Sop

Topics: License, Employment, Statutory law Pages: 7 (1040 words) Published: April 7, 2013
Statutory Record Maintenance

Our business has a high degree of visibility to Law unlike other industries. Compliance of licensing, NOCs and other statutory requirements are signs of good Corporate Governance, the absence of which would lead to adverse and negative publicity, which affects our business very badly.

Compliance to Statutory & Legal requirements need to be carried out with zero tolerance, as in case of any breach, there is a huge exposure to monetary liability besides exposing the personal liberty of our senior colleagues including the Managing Director to serious risk.

The following procedures have been put together to ensure compliance with all regulatory aspects of the Law which are relevant to Retail Operations.

The Store HR Executive is responsible for maintaining all the records mentioned in this SOP. The Store Manager is responsible for ensuring that all necessary regulatory papers & requirements are complied with.

The Store HR Executive in charge for the store shall also be responsible to understand if there are any regulations that are specific to the local area where the store is operating and shall collect information on the same to ensure that compliance happens. Similarly, in case some of the requirements set forth in this SOP are not being implemented or adopted in a particular area, the Store HR Executive shall confirm on the same.

1. Licenses and Permissions

▪ Following licenses, certificates & permissions have to be in place sufficiently in advance to the commencement of Store Operations :

1. Trade license from the concerned Corporation/Municipality within whose area the store is situated

2. License to sell food items as required under the Prevention of Food Adulteration Act

3. Drug License as required under the Drugs & Cosmetics Act

4. Insecticide License as required under the Insecticides Act

5. Registration Certificate under the Shops & Establishments Act of the state where the store is situated

6. License to sell notified agricultural produce under the Agricultural Produce Marketing Committee Act

7. Licence to sell liquor where applicable

8. Central Sales Tax certificate and General Sales Tax certificate of the state where the store is situated and the Branch certificate

▪ All the above licenses, certificates, permissions need to be displayed at a conspicuous place inside the store along with the following lists & details :

1. List of National Holidays and Festivals

2. List showing weekly off of persons employed in the store

3. Working Hours of the stores and employees

4. Name and designation of the company executive authorized to receive notices under the Payment of Gratuity Act

5. Name of the concerned Asst. Inspector of Labour having authority over the area where the store is situated

6. Copy of the certified Standing Orders

7. Abstracts of the following Acts:

• Payment of Wages Act & Rules

• Minimum Wages Act & Rules

• Contract Labour ( Regulation & Abolition ) Act

• Shops and Establishments Act

• Payment of Gratuity Act

• Maternity Benefit Act

▪ Renewal of all licenses and permissions to happen at least one month prior to the date of expiry of earlier licence.

2. File Records

▪ Following File Records are to be regularly updated & maintained properly :

1. Licence to sell any measuring instrument

2. Repackers Licence

3. Music Licence

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