Relaxation From Labor Law Compliances For Start-Up Ventures

The Ministry of Labour & Employment, with the sole aim to support & promote the Start-Up ecosystem and encouraging entrepreneurs in setting up new start-up ventures resulting in creation of employment opportunities, issued an advisory to the States/UTs/ Central Labour Enforcement Agencies for a compliance regime based on self-certification and regulating the inspections under various Labour Laws.

The term start-up may be best explicated as a commercial enterprise which is an emerging business or industry aiming to meet a peculiar market requirement by way of building up a viable mode of business involving a novel product, service, process or a platform. In Indian scenario (keeping in mind the available compliance relaxations) a start has been defined as an entity (working towards innovation, development, deployment or commercialization of new products, processes or services, driven by technology or intellectual property) incorporated or registered in India not prior