Statutory Compliance and Employees are at the core of any organization. They are crucial to business growth and meet customers’ expectations. However, for a company to function efficiently, its processes need to be streamlined, with proper rules and regulations.
That’s where statutory compliance can help. It empowers you to define a legal framework within which your organization must deal with the employees.
In other words, statutory compliance helps ensure your company trea
For starters, here are some acts and laws that businesses need to follow in India:
The Employees’ State Insurance Act, 1948 : Provides specific benefits to workers in case of illness, maternity, or on-duty injury.
Payment of Wages Act 1936 : Regulates the payroll services of both direct and indirect employees.
Tax Deduction at Source (TDS) : Depending on the services provided, companies need to deduct tax at the source of income before paying contract workers.
The Equal Remuneration Act, 1976 : It aims to ensure gender parity in payments.
The Sexual Harassment of Women at Workplace (Prevention, Prohibition, and Redressal) Act, 2013 : The primary aim of the POSH Act is to make working safer for women by preventing sexual harassment against them in workplaces.