Invitation to Bid - Financial Audit Services - Review of Financial Statements; CAG Empaneled Audit or CA Firm in RANCHI, JHARKHAND

Q1: How to apply for the Financial Audit Services tender with ESIC Ranchi in 2025?
To apply for the ESIC financial audit tender, firms must first ensure they meet the eligibility criteria including empanelment with C&AG, experience of at least 5 years, and a minimum annual turnover of ₹50 lakhs. The application process involves registration on the official portal, submission of all supporting documents such as proof of past audits, financial statements, and compliance certificates. Firms should diligently fill out the bid forms, upload required documents, and submit EMD along with bid security within the stipulated deadline — 26 July 2025. Additionally, obtaining professional assistance for GeM profile registration can streamline the process. Ensure all documents are current, accurate, and conform to tender guidelines. For expert help and step-by-step guidance, visit https://tenderai.in/services/gem-profile-registration. Consistent adherence to requirements increases chances of success and eligibility for future collaborations with government agencies.

Q2: What are the eligibility requirements for CA firms to bid on the ESIC financial audit in Ranchi?
Eligible firms must be empaneled with the Comptroller and Auditor General of India (C&AG) and possess a minimum of 5 years of experience in handling similar financial audit assignments. The firm’s average annual turnover must be at least ₹50 lakhs over the last three financial years. Additionally, the firm and its partners must have a good professional record, with no history of misconduct, penalties, or ongoing investigations under the ICAI or tax authorities. The firm should also have a local operational office within Ranchi to facilitate effective communication and timely project delivery. MSEs and startups quoting within 15% of the L1 bid will benefit from purchase preference as per government procurement policies. Ensure submission of all necessary proof of credentials and compliance with statutory and ethical standards.

Q3: How can MSEs and startups leverage procurement benefits in ESIC tenders?
Micro and Small Enterprises (MSEs) and startups are given specific procurement preferences under government policies. To avail benefits, bidders must be registered as MSEs or startups, with valid certification uploaded and validated on the GeM portal. If their bid is within 15% of the lowest bid (L1), their overall order quantity can be increased to 100%, provided they meet all criteria. These benefits aim to promote small-scale firms in government projects, providing opportunities for growth and expanded market access. Ensure your documentation is complete and certified, and verify your GeM profile status for validation. For assistance, professional registration support is available at https://tenderai.in/services/gem-profile-registration.

Q4: What are the key criteria for firms bidding for the ESIC financial audit contract?
Bidders must demonstrate at least 5 years of experience in similar audits for government entities or PSUs. They must be empaneled with C&AG, have an average annual turnover exceeding ₹50 lakhs, and possess successful project completion proof in the last three years. Firms should provide certified documents supporting experience, turnover, and compliance with professional standards. The firm's office should be based in Ranchi, ensuring proximity for on-site audit work, meetings, and coordination. Additionally, bidders need to comply with all statutory norms, including no record of misconduct or penalties under ICAI or tax laws. Participation involves submitting a bid through the official portal before the deadline, with attention to technical and financial documentation.

Q5: What are the mandatory documents required to bid for the ESIC audit tender?
Critical documents include:

• Proof of empanelment with C&AG
• Certificates of experience in similar financial audits (preferably at least three projects)
• Audited financial statements demonstrating an annual turnover ≥ ₹50 lakhs
• Certification of no professional misconduct
• Copies of past contracts or orders indicating project scope and success
• Tax compliance certificates and any relevant statutory approvals
• Local office registration proof within Ranchi
  Failing to provide these forms may lead to disqualification. To streamline your application, consult with professionals for precise document preparation and submission.

Q6: How does the evaluation process work for the ESIC financial audit tender?
The evaluation process is based on a total value-wise assessment of technical and financial submissions. The initial scrutiny focuses on document completeness, experience, empanelment, turnover, and past performance. Bidders with higher experience and compliance scores are rated favorably. The final contract award is typically given to the firm offering the best balance of technical competence and competitive pricing, as per the evaluation criteria. While the tender schedule indicates an evaluation based on total value, the priority remains on service quality, compliance, and experience. Firms are advised to prepare a robust technical bid supported by substantial proof to improve their chances of selection.

Q7: What is the process for non-MSE firms to participate in the ESIC audit tender?
All eligible firms, including large-scale CA firms and established audit agencies, can participate by registering on the official portal, submitting bid documents, and complying with eligibility norms. The process involves:

1. Downloading detailed terms and conditions
2. Preparing technical and financial proposals aligned to the specifications
3. Uploading all necessary documents (experience, turnover, empanelment, etc.)
4. Paying the prescribed EMD and security deposit
5. Submitting the bid before the deadline (26 July 2025, 21:00 hrs)
   The bid will then undergo evaluation, with the successful bidder chosen based on best overall compliance and offerings.

Q8: How can firms ensure compliance with the professional and statutory standards required for this bid?
Firms should ensure all documentation, such as empanelment proof with C&AG, professional certificates, and past work proofs, are up-to-date and verifiable. Maintaining good standing with ICAI and tax authorities is essential, with no ongoing investigations or penalties. It’s advisable to review internal compliance mechanisms, update certifications, and undertake mock audits to ascertain readiness. Additionally, staying informed of any updates in procurement policies related to MSE benefit and technical specifications will improve bid competitiveness. For expert assistance in preparing your bid, visit https://tenderai.in/services/gem-profile-registration.

Q9: What are the benefits of participating in this government audit tender for CA firms?
Participating in the ESIC audit tender presents a strategic entry point into government audit services, offering long-term visibility and credibility. Successful bidders can solidify their reputation as trusted regulators of public funds, leading to future engagements with other government departments and PSUs. The tender emphasizes compliance, experience, and service quality, aligning with professional growth. Moreover, firms can develop closer relationships with government auditors, enhance their portfolio, and benefit from preferential policies for MSEs and startups. This opportunity fosters capacity building in social security and public financial management.

Q10: How can I get professional assistance for GeM registration and bid submission?
To maximize your chances of success, professional help in GeM profile registration, bid documentation, and compliance checklists can be invaluable. Experts can assist with generating all required certificates, ensuring eligibility, and navigating portal procedures smoothly. They also provide guidance on preparing competitive technical and financial bids, managing compliance, and reviewing documentation before submission. For comprehensive support, visit https://tenderai.in/services/gem-profile-registration. Proper registration and adherence to bid guidelines significantly improve the chances of winning government tenders.

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