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Even law says you to not hire these 5 money draining resources in your private company.
Even law says you to not hire these 5 money draining resources in your private company.
Your private company doesn't need these resources... in most cases you can mange without them.
DON'T HIRE # 1. You don't need an Internal Auditor except in 2 cases.
First, when your private company's turnover exceeded Rupees Two hundred Crores in the preceding financial year Second your private company owes loans or borrowings over Rupees One Hundred Crore to banks or public financial institutions at any point in the preceding financial year. (Section 138)
You can run your private company without constituting an Audit and NRC Committee of the board.(Section 177 and 178)
DON'T HIRE # 2 -5. You don't need appointing 4 money draining, highly expensive resources
You know ... you can run your private company appointing no key managerial personnel, secretarial auditor, independent director, women director. (Sections 203, 204, 149).
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