Statutory Compliance in HR refers to the legal framework that an organization should adhere to in dealing with its employees.

A lot of your organization’s time, effort and money go into ensuring that payroll is complaint through a statutory audit. From employee’s fair treatment of labor to protecting the company from unreasonable wage or benefit demands from trade unions or aggressive employees, every company faces a worrying number of potential legal issues relating to compliance. However, it may never be a company's intent to break these laws, but without necessary protection, it may easily slip through the cracks.

Advantages of Statutory Compliance for Organizations

AVOID PENALTY OR FINES BECAUSE OF THEIR TIMELY PAYMENTS / PROTECTS THE ORGANIZATION FROM UNREASONABLE WAGE OR BENEFIT DEMANDS FROM TRADE UNIONS / PREVENTS LEGAL TROUBLES AS THE COMPANY IS FULLY COMPLIANT / MITIGATE RISKS AND INCREASES AWARENESS ABOUT COMPLIANCE / WITH COMPLIANCE IN PLACE, THERE IS A LOWER RISK OF AN ADVERSE INCIDENT.