you can be sleeping partner in partnership firm
however before joining firm as sleeping partner obtain prior consent of authorities
I am a government employee. Can I join partnership firm as sleeping partner?
you can be sleeping partner in partnership firm
however before joining firm as sleeping partner obtain prior consent of authorities
Yes, a government employee can invest in a limited liability partnership/partnership but being a partner it is not mandatory to take part in the daily affairs of the firm.
He can only be a sleeping partner and cant be a whole time.
1. Govt. Employees are barred from any conducting any "financial ventures" of any kind, in anyway whatsoever & which-so-over....
2. For violation of above, punishment upto dismissal is applicable.
No, you are in full time employment and as per service rules you may not start any business as partner of register a business.
There are restrictions for a government employee to do business simultaneously in any form or mode.
Sleeping partner also means that you are involved in the business.
No, A government employee is not allowed to run a private business, neither is he allowed to work anywhere else as a part-time or full-time employee. This is against government rule and hence person who is found can be charged for breaking the law.
See in terms of your employment rules you can obtain the requisite permission from the appointing authority and can start the firm as sleeping partner.
I have intended to establish an online coaching centre. what type of registrations are required to start online coaching class?
1) you are govt servant you cannot run coaching center
2) you need licence under shops and establishment act
3) you need to open bank account in form name fulfill KYC formalities
4) registration under GST if turnover is over Rs 20 lakhs
If you want to open a small scale coaching there is no need of license but for opening coaching on a large scale, that is, it intends to be the size of an institution then, you needs licensing. You need to get a trade license and pay tax for the revenue generated through the centres. If the financial gain of the centre exceeds 9 lakhs per annum, registration of the business becomes mandatory and service tax becomes payable within 30 days.
There is no specific law or provisions of law for establishing online coaching center.
All businesses are required to be registered under the Shops and Establishments Act with the inspectorate of that area. This must be done within a month's time of setting up the business- subsequent to which a statement is to be issued to inspector.
But, if your coaching centre intends to be the size of an institution, you would need to get a trade license and pay tax for the revenue generated through the centre. If the income exceeds 9 lakhs per annum, registration of the business becomes compulsory and service tax becomes payable within 30 days.
See legally you cannot do such business wherein you participate full time or part time. For coaching institute as such no compulsory registration is required.