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Industry Disruption: COVID-19 Shows Imperative for Transformation

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COVID-19 is presenting us with many challenges, both personal and professional, and its impact is likely to have levels of permanence we are just on the front end of understanding.  Setting health and medical considerations aside for a moment, this industry disruption is starkly pointing out that the gap is growing between those leading the charge with digital transformation and those who approach it more reactively and slowly. This isn’t some rah-rah sentiment about the need to buy more software, investigate new technologies or embrace the importance of data.  It’s about leadership in the face of inevitable, continued industry disruption.  It’s a reflection of what is happening in the market as companies of every size determine if they have the vision, courage, and humility to transform t...

COVID-19 update: Companies permitted to do virtual board meetings to approve financial statements etc.

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In a step to enable health safety and business continuity, Ministry of Corporate Affairs (MCA) has permitted companies to conduct virtual Board meetings for approval of annual financial statements, Board reports etc. This relaxation is available till June 30, 2020. Read the communication here. Last week, NASSCOM made a representation to MCA to relax the norms for conducting Board Meetings by companies. Our representation to MCA is available at: https://community.nasscom.in/communities/policy-advocacy/nasscoms-representation-to-ministry-of-corporate-affairs-on-relaxation-of-norms-for-conducting-board-meetings-by-companies.html The relaxation is important as Listed Companies generally conduct their Board meetings for approval of annual financial statements and annual report during the month ...

NASSCOM Policy Update: COVID-19: Easing labour compliances – ESIC

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Dear All, In the wake of pandemic Covid-19 situation, the Employee State Insurance Corporation (ESIC) vide notification (No. P`-11/14/Misc./1/2019-Rev) dated 16.03.2020, has extended the deadline for making the statutory contribution for the month of February 2020 and March 2020, by another 30 days. As per the notification, the deadline for submitting ESIC contribution is now April 15, 2020 and May 15, 2020, for the month of February 2020 and March 2020 respectively. Latest Update (April 2020) In order to provide further relief to the employers., the ESIC vide notification no: P-11/14/Misc./1/2019-Rev has further extended the date for contribution for February month by 75 days. The last date for making the contribution is now 15.05.2020. In a separate notification, EPFO has also extended t...

FAQs on Work From Home (WFH) regulatory framework

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Dear Members, In the backdrop of Covid-19 pandemic, there have been widespread propagation of safety measures to be adopted to prevent further spreading of the virus. Further as per the advisory given by World Health Organization (WHO) to maintain social distancing, at least 1 meter distance is recommended to prevent the spread of virus. Given the fact that the geographies where IT/ITeS Companies, SEZ units, STPI units and Other Service Providers (OSP’s) registered with Department of Telecom are located in India and the number of workforce employed therein, it would seem a difficult task to adhere to maintain social distancing and thereby exposing the employees to potential risk of spreading Covid-19. While organizations are undertaking necessary preventive measures to contain the risk exp...

NASSCOM’s Representation to Ministry of Corporate Affairs on relaxation of norms for conducting Board Meetings by companies

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As per section 173 of Companies Act, participation of directors in Board Meeting may be either in person or through video conferencing or other audio visual means capable of recording and recognizing the participation of directors as well as recording and storing the proceedings of meetings. Further, as per Rule 4 of Companies (Meetings of Board and its Powers) Rules, 2014 (“Rules”), certain matters including approval of annual financial statements of a company shall not be dealt with in any meeting held through video conferencing or other audio visual. However, where there is quorum presence in a meeting through physical presence of directors, any other director may participate through video conferencing or other audio visual means. Listed Companies generally conduct their Boa...

Internet surge during Corona-virus

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Everybody knew the importance of the Internet but nobody thought that someday it will play the role of a ray of hope. The Internet is being considered as a saviour of 7.8 billion people on this earth. All the people around the world are dependent on the internet and this dependency has inflated Internet traffic by 30 % all over the world. In the face of COVID- 19, the IT sector is experiencing a boom due to the increased demand for communication services all around the world. COVID which is a respiratory disease began in the Wuhan, Hubei Province China. Today it is not only restricted to china but has spread to over 149 countries and territories. WHO has declared it as a pandemic, and people are advised to take all the precautions mentioned in the guideline provided by WHO.   COVID has eff...

Impact on Technology : COVID-19 outbreak

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Covid – 19, also known as the CoronaVirus, a serious epidemic, is hitting not just individuals but businesses globally. With this epidemic turning into a serious threat to the global economy, the IT industry is sure to take a hit. In this one, I tried to focus on the impact this virus has on the technology industry.  Covid – 19, a human tragedy that is affecting thousands of people globally. This epidemic was observed first in the city of Wuhan, China and from there, it was just a matter of time before the world caught on to it.  As of now, to date, the casualties have been way more than 3000 with over 80,000+ cases. Some of the major cases have been observed in the USA, Italy, Germany, France, South Korea, Japan and even in India the cases of Covid – 19 are on a rise.  T...

DOT relaxes Work from Home (WFH) norms under OSP Regime

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In the wake of Coronavirus (COVID-19) spread, NASSCOM earlier this month made a detailed representation to the Government highlighting the concerns relating to health and safety of people employed in the tech sector and the consequential impact on the business continuity and sought relaxation from conditions (such as PPVPN , bank guarantee etc.) related to Work from Home (WFH) under the Other Service Providers (OSP) regime. We are pleased to share that after series of deliberations and Government engagements, the Department of Telecommunications (DOT) vide notification (No. 18-5/2015-CS-I) dated 13th March 2020, has amended the Other Service Providers (OSP) terms and conditions related to WFH. These amendments are in line with NASSCOM recommendations, which are as follows: The condition re...

COVID-19: How to Protect Your Organisation by International SOS for NASSCOM Members

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WHO DECLARES COVID-19 A PANDEMIC: WHAT IT MEANS FOR ORGANISATIONS On the 12th of March, 2020 the World Health Organization declared the Coronavirus disease (COVID-19) a pandemic. In preparation for cases that may occur in your offices, at sites and in the community, NASSCOM hosted a ‘COVID-19: How to protect your organization’ webinar with world’s leading medical and security services company International SOS on Friday 13 March, 2020 at 2.30 PM IST. In this 45-minute webinar, International SOS team of medical and security experts discussed some of the key aspects on how to approach your organization’s COVID-19 crisis readiness, helping you ensure that you are taking a full 360-degree viewpoint and not overlooking critical aspects. The International SOS experts also shared a situation upda...

Decoding the Work from Home Hysteria

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Regulating the work productivity in the times of a disease outbreak is a big challenge. Something that enterprises might not be prepared for. IT Firms around the world are pondering over the effectiveness and feasibility of  work from home parameters. Though, in developing countries like India a huge number of organizations who are not equipped enough to allow their employees to work remotely. Moreover, many of these companies are based out of cities where the numbers of positive Covid-19 cases are steadily increasing. It is therefore imperative to have a discussion as to understand: How effective work from home parameters are in such times? What are the prerequisites for effective Work from Home? And most importantly, how can work productivity be ensured at the time of this disease outbre...