VarunSinghal - Internship Report

INTERNSHIP REPORT ON
“ STATUTORY COMPLIANCES AND ANNUAL

RETURNS”
FOR
FORTIS HEALTHCARE
Under the guidance of

Ms Ranjit Kaur
Submitted By:
Varun Singhal
MBA(HRD)
Department of Commerce
Delhi School of Economics
University of Delhi
ACKNOWLEGEMENT
The satisfaction that accompanies the successful completion of any task

would be incomplete without mentioning the names of the people,
who made it possible, and whose constant guidance and
encouragement crown all the efforts with success. I owe a debt of
gratitude to all the people who have inspired me throughout and had
been so generous with their time and expertise.
I am extremely thankful to Ms Ranjit Kaur (mentor) who was a constant

source of my inspiration. The strong interest showed by her has helped
me in dealing with the problem and challenges I faced during the
course of my project work.
Also, I would like to express my profound sense of gratitude to the

following persons for their continuous guidance and support:
1. Mr Ashwin Divakaran: Zonal Head HR
2. Ms Mansi Sabhnani: Manager, HR
3. Mr Jaipal Sajwan: Deputy Manager, HR
4. Mr Rohit Anand: Deputy Manager, HR
5. Mr Rajeev Sharma: Team Lead
Last but not the least; I would like to thank all the other employees of
Fortis Healthcare, who directly or indirectly helped me in completing
the project that will go a long way in my career. The project was a
memorable one.
SUMMER INTERNSHIP REPORT
Name of Intern: Varun Singhal
Organization: Fortis Healthcare
Location: Shalimar Bagh, Delhi
Duration: 1st June 2016 -20th July 2016
Project Title: Statutory Compliances and Annual Returns
Project Manager: Ms Ranjit Kaur
Introduction to Fortis Healthcare

Fortis Healthcare Limited is a leading integrated healthcare delivery
service provider in India. The healthcare verticals of the company
primarily comprise hospitals, diagnostics and day care specialty
facilities.
The company operates its healthcare delivery services in India, Dubai,

Mauritius and Sri Lanka with 54 healthcare facilities (including projects
under development), approximately 10,000 potential beds and 260
diagnostic centers.
In a global study of the 30 most technologically advanced hospitals in

the world, its flagship, the Fortis Memorial Research Institute’ (FMRI),
was ranked No.2, by ‘topmastersinhealthcare.com, and placed ahead of
many other outstanding medical institutions in the world.
Brand Fortis was established in 1996, by our Founder Chairman Late Dr.
Parvinder Singh, who instituted it with the vision
'to create a world class integrated healthcare delivery system in India,
entailing the finest medical skills combined with compassionate
patient care.'
Fortis Healthcare is the country’s ‘fastest’ growing healthcare group. It
has grown from first hospital at Mohali (Chandigarh) which opened in
2001 to over 55 facilities today. These include the world famous Escorts
Heart Institute and the erstwhile Wockhardt facilities. From North to
South, East to West, Fortis truly has India covered - the frontier city of
Amritsar, to Ludhiana, Mohali, the National Capital region, Mumbai,
Bangalore, Mysore, Chennai, Kolkata and many more destinations are
all home to Fortis facilities.
Fortis occupies a place of pride in India’s healthcare delivery system.
In September 28, 2005, the company acquired 90% interest in Escorts

Heart Institute & Research Centre Ltd that owns and operates three
hospitals in north India and operates a fourth hospital in collaboration
with the Government of Chhattisgarh. In January 2006, the company
signed an agreement with Sunrise Medicare Private Ltd for the
operation and management of Fortis La Femme, New Delhi.
Introduction to the project
1. I was involved in understanding and taking care of all the

statutory laws and annual returns which are required to be filed
after a specific period of time. I was involved in making the
presentations of the following labor laws :
 Employee Provident Fund and Miscellaneous Act, 1952:
This act is applicable to every factory engaged in specific
industries in which 20 or more persons are employed. The
contribution is as follows:
Employees: 12% on Basic Salary + Dearness Allowance + Special
Allowance (if any).
Employer: 12% on Basic Salary + Dearness Allowance + Special
Allowance (if any).
 Employees' State Insurance Act, 1948: It is a self-financing

social security and health insurance scheme for Indian workers.
This fund is managed by the Employees' State Insurance
Corporation (ESIC) according to rules and regulations stipulated
there in the ESI Act 1948.
o Employers contribution: 4.75% of Employee’s Wages
o Employees Contribution: 1.75% of Employee’s Wages
o Total: 6.5% of Employee’s Wages on GROSS SALARY
Payment of Gratuity Act, 1972: Gratuity is the lump sum

payment made by an employer to an employee as a
reward for CONTINUOUS service rendered by an
employee for not less than 5 years.
Payment of Bonus Act, 1965: A bonus payment is usually
made to employees in addition to their base salary as part
of their wages or salary. While the base salary usually is a
fixed amount per month, bonus payments more often
than not vary depending on known criteria, such as the
annual turnover, or the net number of additional
customers acquired, or the current value of the stock of a
public company.
Minimum Wages Act, 1948: It is act to provide for

fixing minimum rates of wages in certain employments.
Minimum wages in Delhi are as follows:
Categories/Days Per Month Per Day
Unskilled 9568 368
Semi Skilled 10 582 407
Skilled 11622 447
Payment of Wages, 1936: The objective of the act is to

ensure regular and timely payment of the wages and to
prevent unauthorized deduction made from wages. The
benefit of the Act prescribes for the regular and timely
payment of wages (on or before 7th day or 10th day of
after wage period is greater than 1000 workers) and
Preventing unauthorized deductions being made from
wages and arbitrary fines.
Maternity Benefits Act, 1961: It aims to regulate the
employment of women employees in certain
establishments for certain periods before and after child
birth. Every women who has worked for at least 80 days
during the period of 12 months immediately preceding
the date of her expected delivery is entitled to the
maternity benefit, which is the average of the daily
wages
of preceding 3 months. Benefits under the act are
as follows:
o Leave for miscarriage
o Leave for illness due to pregnancy, delivery,
premature birth of the child, miscarriage
o Medical Bonus
Sexual Harassment Act, 2013: It is to provide

protection against sexual harassment of women at
workplace and for the prevention and redressal of
complaints of sexual harassments.
Equal Remuneration Act, 1976: To prevent

discrimination between workers on grounds of gender
and provides for the payment of equal remuneration to
men and women workers. No employer shall pay to any
worker, employed by him in an establishment,
remuneration, whether payable in cash or in kind, at rates
less favorable than those at which remuneration is paid
by him to the
workers of the opposite sex in such establishments for
performing the same work.
2. I was responsible for creating a tracker for all the Returns to be
filed in specific periods of time.
3. Maintenance of Compliance Registers:
It is required for all the organizations to make compliance registers
and follow the established norms and regulations. I was involved in
updating the following registers:
o Register of Wages
o Register of Deduction Loss/Damage
o Register of Fines and Unpaid Accumulations
o Register of Advances
o Register of Overtime and Payment
o Register of Accident and Dangerous Occurrence
CONCLUSION
The entire internship process was a fun-filled journey and enriching

experience, full of learning and development. Here, I have listed a few,
which I felt were the most prominent of the learning which I received in
Deloitte. I learned how:
 To manage multiple projects simultaneously
 To set realistic expectations
 To manage work life balance
 To conduct research and maintain databases
 To adhere to standards and guidelines of the organization
Apart from these, the theoretical knowledge that I received was

immense.

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INTERNSHIP REPORT ON

“ STATUTORY COMPLIANCES AND ANNUAL

Under the guidance of

The satisfaction that accompanies the successful completion of any task

I am extremely thankful to Ms Ranjit Kaur (mentor) who was a constant

Also, I would like to express my profound sense of gratitude to the

Name of Intern: Varun Singhal

Organization: Fortis Healthcare

Location: Shalimar Bagh, Delhi

Duration: 1st June 2016 -20th July 2016

Project Title: Statutory Compliances and Annual Returns

Project Manager: Ms Ranjit Kaur

Introduction to Fortis Healthcare

The company operates its healthcare delivery services in India, Dubai,

In a global study of the 30 most technologically advanced hospitals in

In September 28, 2005, the company acquired 90% interest in Escorts

1. I was involved in understanding and taking care of all the

 Employees' State Insurance Act, 1948: It is a self-financing

Payment of Gratuity Act, 1972: Gratuity is the lump sum

Minimum Wages Act, 1948: It is act to provide for

Categories/Days Per Month Per Day

Unskilled 9568 368

Semi Skilled 10 582 407

Skilled 11622 447

Payment of Wages, 1936: The objective of the act is to

Sexual Harassment Act, 2013: It is to provide

Equal Remuneration Act, 1976: To prevent

The entire internship process was a fun-filled journey and enriching

Apart from these, the theoretical knowledge that I received was

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