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Workshop on Effectively Managing the Compliance Function under Labour Laws and Awareness on CMYKPY

On 6^thAugust, 2024, COSIA and TSSIA, in collaboration with Lakshmikumaran and Sridharan Attorneys, organized a highly informative workshop titled “Effectively Managing the Compliance Function with Labour Laws.” The event took place at the TSSIA House in Thane, attracting a diverse audience from various sectors, particularly those employing more than 20 staff members, who must adhere to mandatory compliance with labour laws.

1) Agenda Highlights: The workshop covered crucial labour laws applicable in Maharashtra and included discussions on the new “Mukhyamantri Yuva Karya Prashikshan Yojna” (CMYKPY), aimed at enhancing skill development and entrepreneurship.

2) Program Details: Welcome Address & introduction of Guests and Speakers: Mrs. Sujata Soparkar, President of TSSIA, opened the session with a warm welcome, emphasizing the importance of compliance in today’s business landscape. Mr. Ninad Jaywant, Hon. General Secretary of COSIA, introduced the distinguished guests and speakers, setting the stage for an enriching discussion.

Overview of CMYKP: Ms. Sandhya Salunkhe, Assistant Commissioner at the District Skill Development, Employment and Entrepreneurship Guidance Center, provided a detailed presentation on the CMYKPY, outlining its objectives and benefits for various industries.

Presentation on Labour Laws: Mr. Ashish Philip, Partner at Lakshmikumaran and Sridharan Attorneys, delivered an insightful presentation on mandatory compliances under labour law for units with over 20 employees. His discussion highlighted the critical areas of compliance and the implications of non-adherence.

Expert insights: Ms. Astha Sinha and Mr. Pratyush Jain, both Associate Partners at LKS, contributed their expertise in corporate and regulatory advisory, focusing on practical strategies for managing compliance functions effectively.

Vote of Thanks: The session concluded with a vote of thanks by Mr. Huzaifa Bamboat, EC member of TSSIA, who expressed gratitude to the speakers and attendees for their active participation.

3) Key Takeaways : Understanding Compliances: Participants gained valuable insights into the mandatory labour laws applicable in Maharashtra.

Implementation Strategies: The workshop provided actionable strategies for effectively managing compliance functions, helping businesses mitigate legal risks.

Government Initiatives: The introduction of CMYKPY was well-received, with discussions on leveraging this scheme to enhance workforce skills and drive growth.

The workshop, attended by more than 60 participants, was a resounding success, fostering an environment for knowledge sharing and collaboration among MSME representatives. Attendees left equipped with practical tools to enhance their compliance functions, contributing to a more robust business ecosystem in Maharashtra.

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