In a major development today on the Regulatory front for IT / ITeS sector, the Government has issued the attached new Guidelines for the Other Service Providers (widely known as OSPs).
The new guidelines have reduced the compliance burden on this industry significantly.
Registration requirements for OSPs has been done away with altogether and the BPO industry engaged in data related work have been taken out of the ambit of OSP regulations. Requirements such as deposit of bank guarantees, requirement for static IPs, penal provisions etc. have also been removed. Several other restrictions on the companies from adopting ‘Work from Home’ and ‘Work from Anywhere’ policies have also been removed.
Very welcome move by the Government and this should definitely help the sector on multiple fronts.