Regarding joint venture and its employment
harvinder kumar
(Querist) 30 January 2012
This query is : Resolved
Please give me solution below mentioned case study
Case Study
Sit#1
Joint-Venture (JV)- Indian Company with Foreign Company in the form of Public Company (Unlisted)
Now in the JV, there are Directors, who are Indians as well as Foreigners. MD is foreign national.
Now the JV is contemplating to induct a technical person of foreign origin (here partner foreign Country)
Please let me know,
1. Is there any approval required from any authority in India before employing that technical person?
2. Is there any approval required for giving him any salary or amount in lieu of salary?
3. Is there any cap on the salary to foreign national?
Apart from it, pleas also tell me the procedure to appoint a foreign person in the JV with the foreign company or in any Indian Company.
Sit#2
If that person, foreigner, is going to replace the existing director of foreign origin in the same JV with the foreign company after passing away 3-4 months from his induction as the simple employee (not in the Board of Directors) will make the situation different from above mentioned.
Give the detailed information in both cases if any professional friend know it .
Raj Kumar Makkad
(Expert) 30 January 2012
It shall be good for you to post your query at the relevant place www.caclubindia.com
Jai Karan Nagwan
(Expert) 02 February 2012
1. In this case person must hold the employment, which shall be registered with FRRO/FRO within 15/30 days (exact number of days not sure)on his arrival, than foreigner would be iissed with permission to residence in India for the period till the visa is valid.
2. no approval is required, However lower limit fixed by the MOL & E shall be followed.
3. Ther is lower cap but not upper cap on salary.
4. Every changes in the status shall be informed to FRO. he will be on employment visa for 5 years.
harvinder kumar
(Querist) 03 February 2012
Thanks a lot Mr.Jai Karan Nagwan,
If any other requirement, please describe, words of reply will be greatly appreciated.
Thanks and Regards.
