‘Start-ups must be exempted from inspection, filing returns for 3 yrs’

Sharing is caring!

Taking note from the sops announced in the Start-Up India Policy, which was recently launched by PM Modi, Labour Ministry has directed EPFO and ESIC to exempt start-ups from inspection and filing returns for 3 years.

The Ministry said that the new age ventures should be allowed to self-certify their compliance with 9 labour laws.

In a letter, Labour Secretary, Shankar Aggarwal said that the start-ups should neither be inspected nor asked to file returns for three years under 9 laws including Employees’ Provident Fund and Miscellaneous Provisions Act and the Employees State Insurance Act.

“Promoting start-ups would need special hand-holding and nurturing. Thus, such ventures may be allowed to self-certify compliance with the Labour Laws,” he added.

They will be exempted from inspection under the Building and other Construction Workers (Regulation of Employment and Conditions of Service) Act, Inter-State Migrant Workmen (Regulation of Employment and Conditions of Service) Act, Payment of Gratuity Act and Contract Labour Act.

Start-ups will also be exempted from filing returns under the Industrial Disputes Act, Building and other Construction Workers Act, Inter-State Migrant Workmen Act, Contract Labour Act, EPF Act and ESI Act.

Aggarwal said that the start-ups will be inspected in case a “very credible and verifiable” complaint of violation is filed in writing and the approval has been obtained from the Central Analysis and Intelligence Unit (CAIU).

SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button
%d bloggers like this: