ESI contribution rate reduced from 6.5% to 4%

Category Archives: Recent News

ESI contribution rate reduced from 6.5% to 4%

First time in 22 years. Another Statutory change. Update your Finsys ERP in the last week of June 2019.

Download from www.finsys.biz

The government on June 13 cut the rate of contribution under the Employees’ State Insurance Act (ESI Act) to 4 percent from 6.5 percent. The first reduction in 22 years will be effective July 1.

With this reduction, the employers’ contribution to the ESI Act has been reduced to 3.25 percent from 4.75 percent and the employees’ contribution has been reduced to 0.75 percent from 1.75 percent. According to a release, the reduced rates will be effective from July 1.

The move is expected to benefit 3.6 crore employees and 12.85 lakh employers. The reduced rate of contribution is expected to facilitate further enrollment of workers under the ESI scheme and bring more of the workforce into the formal sector.

The note also stated that a reduction in the share of contribution of employers is expected to enhance the ease of doing business and improved compliance of the law.

Good for you, Good for your employee.

Good to control the CTC ( Cost to the company )

Finsys at your service

PPT or Video Manual for this shall be hosted on the site shortly

Reel Return Bluetooth printer connected to Android Phone

Fork lift operator can Scan the End Reel via his Phone. Enter the weight on his Phone screen. Press OK and Press Print. That is all.

 

Reel Return via Bluetooth printer connected to your Android Phone

  • Congratulations for this innovation in the Corrugation Industry

Many Corrugation and Duplex Manufacturing Friends, were facing a problem. how to put the new TAG on the “End-Reel”./ Bit Reel.

Necessity is the Mother of Invention. Thanks to the idea of Mr Abhishek Kapoor of Meghdoot Packaging, we have done the Research and Development on this need. And the joint team is now Successful.

Now the fork lift operator can simply hook this to his trouser’s belt. and Scan the End Reel. Note its weight on his Phone screen. Press OK and Press Print. That is all. ….. The Reel Return sticker will be printed on the Bluetooth printer connected to Android Phone

Suggested Link to buy this Printer on AMAZON

https://www.amazon.in/Epson-TM-P20-Direct-Thermal-Printer/dp/B00VNNH1NC

Epson TM-P20 Direct Thermal Printer – Monochrome – Portable – Receipt Print

by Epson
  • Best for Finsys ERP
  • 58mm Sticker Stationery
  • Connects via Bluetooth, to Android Phone… Finsys Android App
  • Operational battery life (of up to 8 hours)
  • for ultra compact printers
  • from Epson

 

Trade Marks : All Trade Marks like Amazon, Android, Epson, Meghdoot Packaging etc are the property of their Respected owners

User Rights Control And User Rights Approval System

Option for User Rights “Approval” in Finsys

alert of finsys User not approved
alert of finsys User not approved

Benefit and advantages of switching this ON, in Finsys ERP :

No unauthorised user in the ERP database.  And You know that..
  1. Who can Access what / See what  ?
  2. who can Edit what ? and who cannot ?
  3. Who can delete what and who is not authorised to ?
  4. Who can enter which Software Modules ?

In this AGE of Data & Information and its importance, this is a Good Control.

  • We Credit this ERP control to the idea of SAR Coatings LLP and its MD, Mr Rajeev Joshi, https://www.sarcoatings.com/
  • SAR Coatings LLP is a Green Field Project established in the year 2016, Gurgaon. SAR, as a company, are keen to provide CED coating & Alkaline Trivalent Zinc plating services.It’s a matter of pride to announce that M/s MARUTI SUZUKI INDIA LIMITED has nominated SAR Coatings LLP as a Potential Supplier for Zinc Plating for  all their Tier 1 , 2 and & 3 Suppliers. First such resource in India.

Vel- Vin Packaging wins Sino Corrugated Award For Best Factory Layout

Vel-Vin Packaging- Finsys

Our Client Vel – Vin Packaging, Goa has won the World Sino Corrugated Award, 2019 for best factory layout.

Right after the award ceremony, our Managing Director Mr. Sangeet Kumar Gupta had a conversation with Mr. Vincent Mathias and Mr. Vartan Mathias, the Managing Directors of Vel Vin Packaging at Sino Corrugated Exhibition in China.

Mr. Vincent Mathias is the President of Western India Corrugation Box Manufacturers’ Association. He is the former Chairman of CCCI.

The conversation went as follows…

Mr. Sangeet Kumar Gupta – How is the feeling after being ranked as world number 2 in the corrugation expo awards?

Mr. Vincent Mathias – I am feeling great. It was not possible to do alone to do such a big task. Lot of people has contributed for the layout of the factory. My full team contributed in this. I would like to thank each one of them for achieving this award.

Mr. Sangeet Kumar Gupta – Sir, it’s indeed a great achievement. An Indian Company wins this prestigious award in China.

Mr. Vartan Mathias – Yes and only two companies were nominated from India. We feel really great and honored after receiving this award.

Mr.Sangeet Kumar Gupta- How many votes did you get Sir?

Mr. Vartan Mathias – We got close to 45 thousand votes.

Mr. Sangeet Kumar Gupta – It’s a Big thing, Congratulations to you. Finsys is also proud for the association with you.  People say Vel- Vin’s administrative control is great. What’s your take on that?

Mr. Vincent Mathias – Finsys has great contribution in this Administrative Control, like production control and we are getting  all the production data online. We are really thankful to you for your contribution.

Mr. Sangeet Kumar Gupta – Your factory is situated 400km away from your head office. So do you think Finsys ERP is helping you to access your data miles away?

Mr. Vartan Mathias – Yes, we can access data with the help of Finsys ERP even when we are 4000kms away from office. We have each and every details of the production. The details are on our mobile.

Mr. Sangeet Kumar Gupta –Finsys is congratulating you once again for this great achievement.

Vel- Vin Packaging, suited in Goa, is in the field of manufacturing Corrugated Boxes since the last 25 years and has developed a very good relation and name in its field. In a field where a brand name cannot be established easily, Vel-Vin has created a brand image of its own.

MIS Reports – Packaging

Sub : Suggested MIS Reports for Daily Circulation ( Packaging Business )

for non Packaging Business – Click here

In today’s world, creating Systems and Following Systems is becoming more and more important. As a part of the initiative to make our Finsys Patrons even more Systematic, we present to you our SoP ( Standard Operating Procedure ) for the Reports that must be circulated in a Standard Finsys ERP Implemented company.

Some of our clients have done this and are happy with the results.

Hence sharing the same with you.

 

Notes :

  • If you are already using these, then great. If you are not, please start, our Finsys team members will love to train your people on these.
  • These may be started either all in 1 go, or step by step.
  • You may add some more daily Reports from the Finsys ERP, as per your convenience.

 

 

Industry Segment : Packaging – Corrugation Industry

We are making efforts to see that these start in every company.  The benefits are attached.

 

MD / CEO / Plant head must get Every day

  1. Executive summary of all SO, PO, MRR and Invoices for the day
  2. Pending Sales order Register
  3. Pending Purchase Order Register
  4. Snapshot Report of Collection and Payments

MD / CEO / Plant head must get Every WEEK – Specific Day

EVERY MONDAY

  1. Stock Report – Paper Reels – 1 page summary – Reels and Ton in hand
  2. Stock Report – Paper Reels –Reels wise with Ageing 30-60-90 days columns
  3. Bit Reel Report
  4. Reels older than 90 days Report
  5. Stock Report – Paper Reels – Closing Stock value ( to management only )

 

EVERY TUESDAY

  1. Stock Report – Ink and Adhesive MTD with value – 4 colm
  2. Stock Report – Repair and Maintenance Items MTD with value – 4 colm
  3. All Items below Minimum level
  4. All Items below Reorder level
  5. All items above Maximum level

 

Benefits of These Stores Reports

  1. Control of the situation
  2. Know who is entering data and who is not
  3. Know stock position LIVE ( almost live)
  4. All people are automatically understand the importance of entering the data live / almost live, since MD will see daily. And MD will rely on them.
  5. Issue entries are missed in some companies for some groups… will be done, since seen. ( Example Spare Parts and Consumables )
  6. Stock out position happens in repair items / many items. Since people do not remember to buy in time. This will be prevented if the Minimum levels and Reorder Levels are set + Reports daily monitored

 

 

EVERY WEDNESDAY :  Finance

  1. Debtors Outstanding Report – any 1 out of over 10 formats available – as of end of last week
  2. Creditors outstanding Report – any 1 out of over 10 formats available
  3. Staff Advance Account Trial Balance and Ledger email to MD
  4. Imprest Account Trial Balance and Ledger email to MD
  5. Debtors with Credit Balance ( Advances received ) – YTD date selection
  6. Creditors with Debit Balance ( Advances received ) – YTD date selection
  7. Non-moving Accounts
  8. Cash Flow of this month ( Cash only )
  9. Funds Flow of this month ( Cash+All Banks) ( All Sources)

 

EVERY THURSDAY :  Sales

  1. Customer wise Sales Report = any 1 format
  2. Finished Product wise Sales Report = any 1 format
  3. Schedule vs Actual // Sale order vs Actual Report = any 1 format
  4. FG stock in hand report with value – preferably 4 colm ( Year start to date )

 

EVERY FRIDAY :  Purchase

  1. Pending Purchase Requisitions ( Indents ) == PR made, and not approved
  2. Pending Purchase Requisitions ( Indents ) == PR approved and Po not made
  3. Pending Purchase Order == PO made, and not approved
  4. Pending Purchase Order == PO approved but material not received – any 1 format
  5. Purchase Schedule vs Actual Report – any 1 format
  6. Vendor Ratings
  7. Purchase Estimate for ROL(Reorder level) / MSL( Minimum stock level) items
  8. Delivery Date based report = Committed delivery date in PO vs actual date ( XLS report)
  9. Any 1 Rate Comparison Report
  10. Shipments received late ( after 5 pm) … if your stores works in main shift only.. people who make your stores people stay back late, lead to risk in Qnty check /Quality check

 

EVERY SATURDAY : Production

This area is as per your ERP configuration.

This list may be modified as relevant to you

 

ERP Software For Corrugation & Corrugated BoxesFinsys ERP is one of the best selling ERP Softwares for Corrugated Box(Packaging)duplex box folded cartons ERP software

For Packaging Plants

  1. Daily Production Report ( DPR )
  2. Down Time Report with reasons
  3. Wastage Report with Reasons
  4. Material Requirement Planning for this (balance) month, and for next month.
  5. Job Cards floating on the Production floor for more than 10 days, and not yet closed.
  6. Job Cards open , and not yet scheduled on any machine
  7. Job Cards with excess loss due to Ups / Paper allocation . ( duplex only )
  8. Monthly Tonnage Report = Tons produced each day ( corrugation only )
  9. Corrugation Output Report = Sq Metres produced & Tons produced ( corr only )
  10.  Backflush Report = Theoratical consumption vs Actual.

 

Please feel free to revert for any further details/ clarifications required.

Assuring of our best services,  Finsys Infotech Limited team.

 

p.s. ( Post Script ) Request

We request that Software Changes may please not be asked for in the formats. It will shift the focus from the intended purpose to Kaizen. Kindly enjoy the benefits as such.  For specific Customisation Requests, please feel free to contact our marketing team / Customer Relations Team.

 

Notes and examples for additional benefits

  1. Stock Report – Paper Reels – 1 page summary – Reels and Ton in hand = total reels in hand, and their kg
  2. Stock Report – Paper Reels –Reels wise with Ageing 30-60-90 days columns = each reel , how many days old, and its kg
  3. Bit Reel Report = only the reels with partially used status, example “: Reel purchased 1000kg, consumed 800kg, balance=200kg .. this is called a bit reel or end reel
  4. Reels older than 90 days Report = too old reel, to take action to consume, else will get dilapidated
  5. Stock Report – Paper Reels – Closing Stock value ( to management only ) = value of the stock in hand, reels only.

ERP for Auto ancillaries, ERP machine manufacturing, Software development company India, Software development services india, erp for Construction, erp for Services, Custom ERP delhi, Software development India, Custom ERP Gurgaon, Custom ERP India, Customized software development Gurgaon, Customized software development Delhi ,Finsys ERP Software, Business Management software, Customized Software, Enterprise Resource Planning, ERP software development, Delhi, Gurgaon, Manesar, Bahadurgarh, Greater Noida, Surajpur, Palwal, India, ERP for manufacturing