• The Ministry of Corporate Affairs vide a notification dated 31.07.2018 has amended the Companies (Accounts) Rules, 2014 making disclosure of compliance under the POSH act mandatory. The ripple effect of this amendment is immense as it goes a long way in promoting and protecting a healthy and safe work environment.
• The current amendment in rule 8 of Companies (Accounts) Rules, 2014, is in addition to the Report by the Board of Directors under Section 134 of the Companies Act, which requires the directors to declare that they are in compliance with all the applicable laws and have devised proper systems in place, as per the mandate therein.
• Now, with the amendment in the Companies (Accounts) Rules, 2014, the Board Reports also needs to include a specific declaration that the, “company has complied with provisions relating to the constitution of Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.”
• We provide assistance in helping the company file the Annual Report of POSH compliance.