Startup Benefits – Semantic Taxgen Pvt Ltd
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Startup Benefits

June 08, 2019

BENEFITS OF REGISRATION UNDER STARTUP

1. SELF CERTIFCATION UNDER VARIOUS LABOUR LAWS

A. Objective 

To reduce the regulatory burden on Startups, thereby allowing them to focus on their core business and keep compliance costs low.

 

B. Benefits

  1. Startups shall be allowed to be self-certify compliance for 6 Labour Laws and 3 Environmental Laws through a simple online procedure.
  2. In case of the labour laws, no inspections will be conducted for a period of 5 years. Startups may be inspected only on receipt of credible and verifiable complaint of violation, filed in writing and approved by at least one level senior to the inspecting officer.
  3. In case of environment laws, Startups which fall under the ‘white category’ (as defined by the Central Pollution Control Board (CPCB)) would be able to self-certify compliance and only random checks would be carried out in such cases

    Labour Laws:

  • The Building and Other Constructions Workers’ (Regulation of Employment & Conditions of Service) Act, 1996
  • The Inter-State Migrant Workmen (Regulation of Employment & Conditions of Service) Act, 1979
  • The Payment of Gratuity Act, 1972
  • The Contract Labour (Regulation and  Abolition) Act, 1970
  • The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952   
  • The Employees’ State Insurance Act, 1948

    Environment Laws:

  • The Water (Prevention & Control of Pollution) Act, 1974
  • The Water (Prevention & Control of Pollution) Cess (Amendment) Act, 2003
  • The Air (Prevention & Control of Pollution) Act, 1981

Compliance Regime based on Self-Certification section of Startup India: Action Plan Department of Industrial Policy and Promotion

C. Eligibility

DPIIT recognized startups that are within 5 years of incorporation. To apply for DPIIT recognition, click on “Get Recognized” below.

2. Startup patent

A. Benefits

    i. Fast-tracking of Startup patent applications:  To this end, the patent application of Startups shall be fast-tracked for examination and disposal, so that they can realize the value of their IPRs at the earliest possible. Normally to register a Patent may take few years but if you are recognized under the startup, it will be done in few months only.

  ii. Panel of facilitators to assist in filing of IP applications: For effective implementation of the scheme, a panel of “facilitators” shall be empanelled by the Controller General of Patents, Designs and Trademarks (CGPDTM), who shall also regulate their conduct and functions. Facilitators will be responsible for providing general advisory on different IPRs as also information on protecting and promoting IPRs in other countries

  iii. Government to bear facilitation cost: Under this scheme, the Central Government shall bear the entire fees of the facilitators for any number of patents, trademarks or designs that a Startup may file, and the Startups shall bear the cost of only the statutory fees payable

  iv. Rebate on filing of application: Startups shall be provided an 80% rebate in filing of patents vis-a-vis other companies. This will help them pare costs in the crucial formative years

To know more on the same you have to refer our you tube video

https://youtu.be/VJFiqq6uRSY

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