As discussed, we need to add the Penalty Clausepenalty clause, if the Vendorsvendors failed to meet the Statutoriesstatutories.
Regarding this, we have informed the Manpower Vendors and all have agreed forto the same.
Hence, Invoiceinvoice will be done in 2 parts :-
a) Invoice No. 1 - For the Actual Manpower Service.
Payment will be processed upon verififcationverification of the Attendance Registers.
b)Invoice No 2 - For the Statutory Payments like ..Employer contribution PF, ESI, Bonus, LWF, and PT.
Payment will be done, upon submission of Challans & Returns from vendor (Employee contribution + Employer Contribution, Challan and Returns)
If there is a non compliance , then there should be a penalty and the % can be decided by the Operations team based on the business volume.
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