Starting a training academy
Ganesh PS
(Querist) 10 January 2011
This query is : Resolved
Dear Experts,
I work for a leading KPO (in Bangalore) and till date we have been hiring freshers and we were training them for 2 months (we do pay salary during this time). Off late, the demand for our skill based training has become high, and we wish to start our own training academy, where we like to invite participants to join our training at a reasonable cost and based on successful completion of this training, we hire them. The questions are, 1) Shall we register a training academy in a different name, however run this academy in our own existing premises? 2) Our company comes under STPI regulations (bonded warehouse), 3) If our employees are going to train them (like trainers) do they have to be employed under that academy?
Thanks and BRgds,
Ganesh Pallavoor Sundaram
A V Vishal
(Expert) 10 January 2011
1) Shall we register a training academy in a different name, however run this academy in our own existing premises?
Ans. It is your choice to register it under as a different entity or start as unit of the existing entity. However, since the premises is bonded, permission would be required to start a new business. If you wish you can start the new venture in other premises.
2) Our company comes under STPI regulations (bonded warehouse).
Ans. Replied above.
3) If our employees are going to train them (like trainers) do they have to be employed under that academy?
Ans. Not necessary, however if you want to discuss the tax implications it is advisable to consult your auditor who can guide you properly.
