Manager (ADMN) - pbforestdevcorp.gov.in Form for compilation … · Web viewExpression of Interest on prescribed Application Form are solicited from reputed Firms of Chartered Accountants

CIN No. UO2001PB1983SGC034715PUNJAB STATE FOREST DEVELOPMENT CORPORATION LIMITED

TOWER NO.1 and 2, 4TH FLOOR, FOREST COMPLEX, Sector-68, Sahibjada Ajit Singh NagarTel. 0172- 2298007, Fax 2298037, e-mail: [email protected]

Website: www.pbforestdevcorp.gov.in __________________________________________________________________

EXPRESSION OF INTEREST

Expression of Interest on prescribed Application Form are solicited from reputed Firms of Chartered Accountants registered with the Institute of Chartered Accountants of India, New Delhi, for compilation of accounts of the year 2015-16 and filing VAT/ Sales Tax , Service Tax and TDS/TCS Returns of various offices of Punjab State Forest Development Corporation (PSFDC).

1. Application Form

Application Form will be available from Superintendent o/o Managing Director, PSFDC till 2.00 P.M. on 04.06.2015. It can also be downloaded from www.pbforestdevcorp.gov.in

2. Cost of Application Form

Cost of Application Form is Rs. 500/- which can be deposited either in cash or through Demand Draft drawn in the favour of MD, PSFDC payable at Chandigarh. The downloaded application will be considered only when an amount of Rs. 500/- is deposited with PSFDC either in cash or through demand draft before submission of Application Form.

3. Date and Time of submission of Application Form

Duly completed Application Form may be submitted to MD, PSFDC in sealed envelope marked ‘EXPRESSION OF INTEREST FOR COMPILATION OF ACCOUNTS” till 2.30 p.m. on 04.06.2015.

4. Opening of Expression of Interest

Applications will be opened in the presence of CA Firms who may like to be present at 3.00 P.M. on the same day. The Financial Bid cover will be opened only for those firms which qualify the technical details.

5. Terms and Conditions etc.

The Terms and Conditions, List of offices and , Scope of work etc. are available on the PSFDC web site www.pbforestdevcorp.gov.in

Managing Director

1

mailto:[email protected]

http://www.pbforestdevcorp.gov.in/




To

The Managing DirectorPunjab State Forest Development Corpn. Ltd.Forest Complex, Sector-68,Sahibjada Ajit Singh Nagar

Subject : Application for Compilation of Accounts

Reference: PSFDC advertisement dated 13/5/2015 in various newspapers

regarding “Expression of Interest for Compilation of Accounts”

Dear Sir,

Please find enclosed herewith duly filled Application Form, alongwith

requisite annexure and enclosures, for compliation of accounts of PSFDC.

Thanking You,

Signature of Authorised Signatory(Proprietor/Partner)

Name & Address of the Firm

Date:Place:

Encl: As Above

2





Expression of Interest ForCompilation of Accounts

Index

S.N. Particular Pages

From To

1. Request letter 2 2

2. Index 3 3

3. Check list 4 4

4. Application Form-Technical Bid

5 6

5. Financial Bid 7 7

5. Annexure-I(Terms and Conditions)

8 9

6. Annexure-II(List of Units)

10 11

7. Annexure-III(Objectives of the assignment , Extent of Checking and Scope of Compilation of Accounts)

12 13

3





Expression of Interest ForCompilation of Accounts

Check List

S.No. Particulars Remarks

1

Cost of Application Form

State whether Rupees 500/- has been deposited in cash or through demand draft, in case the application has been downloaded.

Yes/No

2

Application Formi) State whether all pages concerning

Application Form including Annexures has been signed by the authorized signatory.

Yes/No

3ii) Whether all information has been

provided as asked for in Application Form

Yes/No

4iii) Whether attested copy of

Registration Certificate of the Firm has been attached.

Yes/No

5iv) Whether assignment Letters in

support of Experience of the Firm has been attached.

Yes/No

6Financial StatusWhether Annual Accounts for various years has been attached

Yes/No

2011-12 Yes/No

2012-13 Yes/No

2013-14 Yes/No

2014-15 Yes/No

7Financial BidWhether financial bid has been filled.Please ensure to quote the annual fee. It will not be considered if not quoted annually.

Yes/No

4





TECHNICAL BID

To be submitted in separate envelope

APPLICATION FORMFOR

COMPILATION OF ACCOUNTS

Sr.

No.Particulars To be Filled by CA Firms Documents/ Informati-

on required

A. General Information about Audit Firm

1 Registered Name

Registration certificate

issued by The Institute of

Chartered Accountants of

India, New Delhi

2 Year of Establishment

3 Address

4 Name of Contact Person

Phone Nos.

B. Composition of Audit Firm

4 Please specify whether the

Firm is a Partnership Firm

or Sole Proprietorship Firm

Partnership Firm/ Sole

Proprietorship Firm

( Strike out which is not

applicable)

5 No. of qualified assistants

(Chartered Accountants)

employed with the Audit

Firm

Details of qualified

assistants i.e. their names

and qualifications

6 No. of Semi-qualified

Assistants (CA Inter)

employed with the Firm

Details of qualified

assistants i.e. their names

and qualifications

C. Experience of Firm

7 Exposure of the Firm for

compilation of Accounts of

Central / State Govt. Forest

Corporations and

Boards

Assignment Letter or any

other document issued by

the concerned office

alongwith any document

showing successful

completion of the work.

APPLICATION FORM 5





FOR COMPILATION OF ACCOUNTS

S. No.

PARTICULARS To be Filled by Audit Firms

Documents/InformationRequired

8 Exposure of the Firm. for

compilation of accounts

in any PSU other than

Central / State Govt.

Forest Corporations and

Boards

Assignment Letter or any other

document issued by the

concerned office alongwith any

document showing successful

completion of the work.

D. Financial Status of the Firm

9Annual receipts for the last three years.

Please submit the available Income and Expenditure Account

2011-12

2012-13

2013-14

2014-15

E. Audit Staff proposed to

be deployed for Audit

10 Skilled Semi- skilled Total

i) Unit -1(PSFDC Head Office)

and consolidation of accounts of Head office and all branch Units

ii) Unit -2

(Mohali Division and its Project offices)

iii) Unit -3

(Amritsar Division and its Project offices)

iv) Unit -4 (Phillaur Division and its Project offices)

v) Unit -5

(Bathinda Division and

Project offices)

Extra sheet may be used wherever needed.

APPLICATION FORM

6





FOR COMPILATION OF ACCOUNTS

FINANCIAL BIDTo be submitted in separate envelope

1 Financial Bid quoted (Rs.)

Annual Compilation Fee

(Amount in Rs.)

1 Annual Compilation Fee

(inclusive of all taxes and

TA/DA and other incidental

charges quoted for. Please

refer to S.No. 4 of Terms &

Conditions ) (Please quote

annual Compilation Fee

separately for each Unit)

i) Unit -1(PSFDC Head Office)

and Consolidation of Accounts at Head office of all units

ii) Unit -2

(Mohali Division and its Project offices)

iii) Unit -3

(Amritsar Division and its Project offices)

iv) Unit -4

(Phillaur Division and

its Project offices)

v) Unit -5

(Bathinda Division and

Project offices)

Date: Signature with rubber stamp affixed

Place: Proprietor/Partner

ANNEXURE- I

COMPILATION OF ACCOUNTS7





TERMS AND CONDITIONS

Following terms and conditions will be applicable to the Firm/s applying for

assignment of compilation of accounts for the year 2015-16 and related returns.

A General

1. The Firm should have at least 5 years experience with the minimum

annual receipt of Rs. 15.00 lakh p.a. for the last 3 financial years.

2. Appointed Firm/s will have to do compilation work themselves and no

outsourcing will be allowed.

3. The Firm must quote annual fee separately for all the Units mentioned in

Annexure II. If the fee is quoted otherwise, it will not be considered.

4. The work will be allotted on the basis of the lowest rate quoted . The

quoted fee should include all taxes, TA/DA and other incidental

charges, if any. Compilation fee will be paid on quarterly basis.

5. The Firm is required to deploy a minimum one Chartered Accountant for

each Unit. Hence, it should be clearly indicated in Sr. No. 10 of

Application Form regarding the number of accounts personnel proposed to

be deployed for each Unit.

B Security

6. The appointed Firm/s will have to furnish a security deposit @10% of

the total fee quoted in the favour of Managing Director, Punjab State

Forest Development Corporation, Sahibjada Ajit Singh Nagar, in the form

of Bank Draft payable at Chandigarh .

C Period of contract , extension period and penalty provision

7. Accounts are to be compiled on monthly basis after passing the requisite

entries and reconciliations. Monthly Financial Statements (Balance Sheet

and Statement of Profit and Loss Account), Trial Balance, Compilation

Sheets are to be submitted within 15 days from the end of the concerned

month.

D Process of work

8. The appointed Firm will be required to prepare the requisite information,

compile accounts as per the Companies Act considering the applicable

Accounting Standards, prevailing provisions of various applicable laws

and to submit the VAT/Sales Tax, Service Tax, TCS/TDS returns etc.

required to be filed under different applicable laws and provide

consultancy on the above matters.

ANNEXURE- I8





TERMS AND CONDITIONS

9. The broad objectives, extent and scope of assignment is defined in

Annexure III.

10. It is expected that before compilation, the firm will take all basic

accounting steps to set the various accounts as per the applicable

accounting principles and conventions and carry out the requisite

reconciliations before compilation of accounts.

E Submission of Report

11. The appointed Firm should submit the bounded printed report in duplicate

for each Unit separately. In addition, two sets of soft copies, each set

consisting of one set in MS Word and another in PDF format, will be

required to be submitted. However, tabulated information, if any, in the

report should be in the MS Excel.

F Taxes on the Audit Fees:

12. TDS will be deducted from all inclusive compilation fee.

13. In case any other chargeable / payable taxes are levied by/ to the Central /

State Govt. during the period of contract, the same will be required to be

implemented additionally by both PSFDC and the concerned Firm as the

case may be.

14. Compliation Fee will be released on submission of Trial Balance,

Compilation Sheets, Financial Statement and submission of VAT/ Sales

Tax, Service Tax and TDS/TCS returns to the satisfaction of the Head

Office, PSFDC.

G Release of Security:

15. The security will be released without any interest after the successful completion of the contract.

H Misc.:

16. In case of any dispute, the matter shall be referred to the Principal Chief

Conservator of Forests (HoFF) for arbitration whose decision shall be final

and binding on both the parties.

17. The jurisdiction of court for this contract will be at Sahibjada Ajit SIngh

Nagar, Punjab.

18. MD, PSFDC reserves the right to reject any or all the applications without

assigning any reason thereof.

9





Annexure IILIST OF UNITS

Audit Unit No.

S.No. Audit UnitSales and Other Income

for the year 2013-14(Rs in Crores)

Audit Unit -1

Head office (office of MD,PSFDC )Forest Complex, Sector 68, Mohali

11.40

Audit Unit -2

A DIVISION

Mohali Division,Forest Complex ,Sector 68, Mohali

13.66

B PROJECTS

I Mohali Project

Ii Sangrur Project

iii Patiala Project I & II

iv Ropar Project

Audit Unit -3

A DIVISION

Amritsar Division

10.81B PROJECTS

I Amritsar Project

Ii Gurdaspur Project

iii Pathankot Project,

Audit Unit -4

A DIVISION

Phillaur Division

7.38

B. PROJECTS

i Phillaur Project

ii Ludhiana Project

iii Hoshairpur Project

iv Nawanshahr Project

10





Audit Unit No.

S.No. Audit UnitSales and other Income

for the year 2013-14(Rs. in Crores)

Audit Unit -5

A DIVISION

Bathinda Division

12.25

B PROJECTS

i Bathinda Project

ii Mansa Project

iii Ferozpur Project

iv Muktsar Project

v Fazilka Project

Total 62.15

11





Annexure-IIICompilation of Accounts

Objectives of assignment, Extent and Scope of Work

I. Introduction

Punjab State Forest Development Corporation (PSFDC) was incorporated in the

year 1983 as a company under the Companies Act, 1956 . The headquarters of the

company is situated at Forest Complex, Sector 68, Sahibjada Ajit Singh Nagar , Mohali.

The main business of the company is related to procurement and marketing of standing

timber and timber related products .

II. Objectives of the Assignment

PSFDC intends to appoint reputed Firms of Chartered Accountants for

compilation of accounts of Head Office, its divisional offices and consolidation of

accounts of Head office and divisional offices on monthly basis and to prepare

financial statements i.e Balance Sheet, Statement of Profit and Loss account, Cash

Flow Statement and notes to accounts and related details as per the Companies Act

and other applicable law, rules and guidelines. Before Compilation of accounts, the

Firm is expected to set right the various accounts of ledger and carry out the bank,

sales, branch & other requisite reconciliations. Based on the accounts finalized, the

Firm will submit the VAT/Sales Tax, Service Tax , TDS/TCS returns etc. and handle

the assessment and provide consultancy work.

III. Extent of Compilation

The extent of compilation will be 100% accounting transactions both financial or

quantitative.

IV. Scope of Compilation

The Firm will take all steps required to compile the accounts and prepare/ assist in

preparation of information required for compilation . Scope of Compilation is broadly

detailed below and will be finalized as per the requirements in due course of time.

1) To check and ratify, wherever required, Cash vouchers, Journal vouchers, bank

vouchers and account heads so as to assist in proper recording of transactions in

the books of accounts.

2) To check and correct daily cash balances in the Cash Book.

3) Preparation of monthly Trial Balance.

4) Bank reconciliation of all bank accounts and incorporation of relevant entries in

the Books of Accounts..

5) Check from cash receipts serialwise whether cash/funds received/ collected are

deposited in the bank collection account by field offices regularly and within

stipulated period and incorporate the same in books of accounts.

6) Flow of funds and report whether these are transferred regularly to Head Office

to ensure that heavy amounts are not being withheld by bank unnecessarily.

12





7) Also to reconcile branch accounts with Head office and inter divisional balances

monthly.

8) Purchase amount of trees purchased from Forest Department based on

possession receipts of standing trees. Also purchase amount of other items

purchased, traded or manufactured or fabricated by the corporation.

9) Reconciliation of Purchase and Sales both quantitatively and financially.

10) Preparation of Monthly Sales Statement from VAT Invoices issued during the

year and Reconciliation of Sales in ledger with Sales Statements based upon

which VAT/ Sales Returns will be filed and the relevant account heads are

adjusted/ reconciled.

11) a) To finalise lotwise Earnest Money Deposits and advances and reconcile

with the relevant account heads in the ledger.

b) Similarly to finalise lotwise Securities and reconcile with the

relevant account heads in the ledger.

12) To finalise amounts recoverable

13) A) Statement showing Utilisation of funds

B) Revenue Reports

14) Quantitative Statements of various items purchased ,traded, fabricated or

manufactured.

15) Updation of Sundry Debtors and Provision for Sundry Debtors and Agewise

classification

16) Updation of timber stock and Provision for doubtful/ short Stock

17) Updation of Unfelled /Unsold Stock and Provision for doubtful/ short Stock

18) Physically verify all the Fixed Deposit Receipts

19) To check Deductions accounts like EPF,GPF, TDS,TCS etc. and their timely

deposit.

20) Other Accounting matters relating to compilation of accounts.

21) The Firm shall also attend to any other work specifically assigned by the

Management or commented by the statutory auditors as per the Companies

(Auditor’s Report) Order, 2003

13





14
