The Indo-German Chamber of Commerce recently along with Roedl and Partner to conduct a seminar titled ‘Being Compliant Ready to Safeguard Businesses in India’ on the 9th of March 2023. This seminar stressed the importance of establishing a compliance framework that can help mitigate risks and ensure the long-term sustainability of businesses. The event was held at the Indo-German Training Centre and was attended by business owners and professionals alike.
During the seminar, Stefan Halusa, Director General of the Indo-German Chamber of Commerce, gave the Welcome Address. This was followed by the presentations that were given by Vaibhav Sharma, Senior Associate, and Vishal Vig, Principal Associate and Team Lead BPO from Roedl and Partner.
Mr. Sharma provided attendees with a comprehensive overview of different labour laws and Acts that businesses in India need to comply with. This includes the Factories Act, Payment of Gratuity Act, and Employees Act. He explained the consequences of non-compliance and the legal penalties that the company could incur. Attendees were also provided insights on how to safeguard key managerial personnel, as this is an important aspect of risk management for businesses. His presentation provided valuable guidance to companies on how to protect their top executives.
Mr. Vig's presentation emphasized the significance of establishing a compliance framework that involves conducting regular compliance audits and risk assessments. He emphasized that developing policies and procedures to ensure compliance with various labour laws and Acts is essential for the long-term sustainability of businesses. He explained the life cycle of an effective framework and the process it takes from development to implementation of a framework.
The seminar concluded with a Question and Answer session where attendees had the opportunity to address their concerns to the speakers. The speakers addressed all questions that were asked by the participants and provided valuable insights on how businesses can stay compliant and avoid legal issues.
After the Q&A session, the attendees had the chance to network with each other during the networking hi-tea. This provided them with the opportunity to interact with other attendees and exchange ideas.
In conclusion, the seminar was a great success and provided attendees with the knowledge shared by the speakers. The Q&A session was particularly helpful in addressing the concerns of the attendees. Roedl and Partner's support in navigating the complex legal and regulatory environment in India was also highlighted during the event. Overall, the seminar was a valuable learning experience for all attendees and provided them with important insights on how to ensure compliance and safeguard their businesses.
