Family owned businesses in India work as the backbone to support the country’s fiscal system. While biggies such as TATAs, Birlas, Jindals and Ambanis have been strengthening the country’s economy for decades, not every family business has the expertise or foresight to stand the test of times. Among those few successful ones, Vijay Shah & Associates, a consultancy providing labour law statutory compliance, labour law consultancy, and payroll services has been immensely successful and is today in run by the third generation of the founders. “It was initially a part of our family business started by my maternal grandfather, Mr. Champaklal Mehta, way back in 1960s. He later expanded his business and invited my father Vijay Shah to be a part of his consulting business and thus our company came into being in 1983,” says Amol Shah, an intrapreneur. Operating from Mumbai, the father son duo is engaged in helping SMEs understand and regularize compliance regarding labour law.
We follow a professional approach for all our services and have maintained our core competency in labour law giving our clients undivided attention with customized and crisp solutions to their problems
Staying abreast with latest updates and holding the same dignity in the market for three decades is not an easy task. “The entire process of maintaining employee records, calculation of salary, registering the companies under various laws, preparing and payment of challans was done manually in those days. It was a challenge for us to complete the entire process within government specified time limits,” Amol adds. However, to overcome these difficulties, the organisation has developed their customised software which is a key advantage for their working space and allows them to spend more quality time in consultation services. Categorising their services into compliance, consulting and outsourcing Amol explains, “In terms of compliance, we help our clients in maintaining required records, challan preparation and filing return.
Through our consulting services we help clients regularize their compliance by helping them to understand the risk in non-compliance and through our outsourcing services we take care of the payroll process.” In addition, the company also works on labour law advisory services.
Companies often face various challenges such as lack of knowledge about labour laws, complexity of the laws, a void in the space of proper guidance and consulting, limited man power to handle day to day compliance work and the tedious process of salary calculation, etc. Vijay Shah & Associates has built a strong expertise by working to mitigate these challenges. “Our firm has a unique combination of industry experience along with practical understating of laws. We follow a professional approach for all our services and have maintained our core competency in labour law giving our clients undivided attention with customized and crisp solutions to their problems,” expounds Amol.
“We have grown from a mere customer base of two clients to more than 250 customers today. From just providing compliance and payroll services, we have added verticals such as audit and many more,” defines Amol. Obtaining a rapid growth in the labour law space, the company plans to extend its services geographically by adding more branches in cities such as, Pune, Nasik, Vapi, Bharuch and Surat. In addition to these, it also aims to venture into other spaces such as labor law audit and due diligence services.