Audit for EmploymentAgency
Audit for EmploymentAgency, The threshold limit of statutory audit due date for manpower and employment agencies is ₹ 1 crore.
This means that all manpower and employment agencies whose annual turnover is more than ₹ 1 crore required to get their accounts audit by a chartered accountant.
The due date for filing the audit report is 30 September of the following year.
For more information visit this site: https://www.mca.gov.in/
Here are some exceptions to this rule:
- Manpower and employment agencies that owned or controlled by the government doesn’t requir to get their accounts audit.
- Manpower and employment agencies that registered with the Ministry of Labour and Employment and have a license to operate not required to get their accounts audit if their annual turnover is less than ₹ 25 lakhs.
- If a manpower and employment agency fails to get their accounts audited by the due date, they may be penalized by the government. The penalty could be a fine of up to ₹ 1 lakh, or imprisonment for up to six months, or both.
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