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Statutory Compliance in Payroll- A Complete Guide

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All organisations should abide by certain laws and regulations put forth by the government. These laws are in place to ensure the welfare of the employees, employer and the organization. HR compliance encompasses policies and measures to ensure that the company's employment practices exhibit an out-and-out understanding of laws and legislations applicable under the respective constitution.  Failure to withhold taxes is considered as a punishable offence but non-remittance of withheld tax to the government is considered more graver crime. Both the scenarios are treated as law violations and can result in huge penalties and imprisonment of the employer. This compliance should be strictly maintained by the employer to ensure employee welfare and smooth running of the organization.    Statutory Compliance in HR   Statutory compliance in HR is the predefined legal framework which every organization should follow. Although a lot of work hours and efforts goes into compliance with such a