While compliance is a normal term that indicates adherence to rules and laws, statutory compliance is particularly related to the adherence of labour and HR-related rules and laws.

Every organization needs to follow some government set guidelines and laws which are related to taxes, employees, and payments. These guidelines and laws fall under statutory compliance. When an organization fails to maintain statutory compliance, penalties and fines are imposed by various authorized bodies. This is why obeying statutory compliance in India is important. Continue reading...