The government has just rolled out a new rule called the Karnataka Compulsory Gratuity Insurance Rules, 2024, which requires every company to get and keep a valid insurance policy specifically for paying gratuity to eligible employees. This rule is all about making sure employees get the benefits they deserve, adding an extra layer of financial security for everyone involved.
But that’s not all!
Across India, there are several other essential policies that every company needs to have in place to stay on the right side of the law.
Not sure what those policies are? Don’t worry – we’re here to guide you through it all.
To make sure your company is fully compliant with applicable laws, here are the things you need to maintain/ensure:
Leave Policy: Every state is governed by their respective shops & establishments act and every company must ensure that their leave policy complies with it.
Anti-Sexual Harassment Policy: This is a mandate and is crucial for protecting your team against sexual harassment in accordance with the Sexual Harassment of Women at Workplace (Prevention, Prohibition, and Redressal) Act, 2013.
Equal Opportunity Policy: Ensure inclusivity with this policy under the Rights of Persons with Disabilities Act, 2016 and the Transgender Persons (Protection of Rights) Act, 2019.
Maternity Benefit Policy: A must for supporting your employees under the Maternity Benefit Act, 1961.
Website Policies: For your website and mobile apps, in line with the Information Technology Act, 2000, and Consumer Protection (E-Commerce Rules), 2020.
In addition to the mandatory policies above, there are other good to have policies like anti-bribery and whistle blower policy. The importance of these policies have also been highlighted by the Supreme Court. These policies don’t just protect your company legally; they also show your commitment to high ethical standards.
Having these policies isn’t just about ticking legal boxes – it’s about showing that your company cares about doing the right thing while also protecting the company from liability if something were to go wrong. The most important advantage of putting these policies in place is that it boosts the credibility of your startup and makes it more attractive to investors.
Reach out to us if you require any further information on how to get started!
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