[HELP] Need Advice, as a Freelancer providing services in foreign

Hello,

I'm a 19-year-old, Mumbai-based freelancer, who provides services worldwide as a Web Development Freelancer, through Fiverr. But since April 2023, I have been in a contract (instead of job) with a German-based business. My current earnings from them are $30/hour, and I work about 80 hours per month on average. On top of that, my contract includes a lifelong 2.5% participation in the company's revenue, which is currently around 2000-2500$, and is expected to grow more and more in the future.

Noticing that I'll not have much time to attend to my old clients, and to handle my Fiverr platform, I hired a team of 4, Developers and Designers as interns. And I'm planning to offer them official full-time employment soon, for about 2.4-3 LPA each. But the thing is, I don't have my company registered or have paid taxes ever in my life, because I never earned that much before in the first place. I humbly request you guys to guide me and give tips, about how I should register my company, and manage my Finances.

• I'm planning to register as a Private Limited, and then adjust the contract with the German Business to look like it's a sale of the company. To open it, as I need at least 2 partners, I am planning to put one of my parents as a 1% partner. Will this be OK?
• My current monthly earnings are about 3-3.5 Lacs, and if by God's grace, it continues, I'll be earning 36-40 Lacs per year. I plan to direct all that earnings to my Company and take myself just enough salary to avoid taxation and buy assets or properties in the company's name. Will I face any challenges? What will be the major benefits?
• What about the employees, I'm planning to hire, how can I manage their legalization and finances of? What's the best way?

As being a 19 y/o kid who's a bit lost, I would really appreciate your guidances, tips and advice 🙏