Outsourcing and lifestyle

I came across (not by chance) this article today at MercatorNet: Is outsourcing exploitation?. And I think it is quite an interesting read for those of us working in India and who have somebody working under us. Especially of course, if our clients are abroad. And even more importantly, if we have other companies as providers for us.

Outsourcing is definitely helping the life of many people. Slowly the lifestyle is improving in many parts of the world, and the gap between developed and developing countries is becoming smaller.

Some would like it to be quicker: let's work for that. We are the ones supposed to be helping the people working with us or for us to improve society in general.

Stamp duty and registration fees

I've always been amused by the amount of signatures and colorful stamps that the people in the government offices like. The process of registering a company is not an exception.

Once you have got drafted the MoA and AoA, and the forms 1, 18 and 32 are filled up (my next post will be about those forms) you will need to get them stamped, paying stamp duty and registration fees.

Unlike the other expenses which are fixed and relatively low (in the range of 500) this fees are slightly different.

The exact amount keeps varying. I don't know how often (may be every few months) and is directly proportional to the authorized capital which you request.

There are several sites which give you the ranges, some more updated than others. Sorry I don't give a link this time but I'm writing from my PDA where it is rather difficult to surf and the info I have is in my laptop. But to give you an idea, for a company with authorized capital of Rs. 5 lakh, the registration fees are about Rs. 17,000.

(For those who are not in India, Rs. 5 lakh is equal to Rs. 500,000)

By the way, I don't think it would be a good idea to try doing this without your Company Secretary's advice.