SHED REGULATORY CHOLESTEROL

The 1950 movie by Akira Kurosawa investigates truth through a plot where four people provide alternative, subjective, self-serving and contradictory versions of the same murder. Kurosawa’s profound message—where you stand depends on where you sit—applies deeply to India’s employer compliance universe of 1,536 Acts, 69,233 compliances and 6,618 filings. Every central, state or local policymaker takes a narrow view of their acts, compliances and filings. So while there are no villains here, there are victims; the complexity of employer compliances increases exponentially with industry, sector, geographic spread, size and headcount. Rationalising, simplifying and digitising this universe will lead to 100 million new formal non-farm jobs, convince China