Outsourcing Statutory Compliance A Better Option for Enterprises

The maze of labour laws in India is extremely complex with a number of different laws and amendments from time to time. It is no secret that courts almost always favored workforce over employers. However, the scenario is now changing towards a balanced approach. There is news that government plans to push through labour reforms. The Wage Bill 2017 is one such matter as is the Code on Industrial Relations. The proposed reforms will affect social security, welfare, industrial relations and occupational safety and health. There are other reforms on the anvil. What it all boils down to is that employers need to have specialists on their HR workforce to keep track of such changes as and when they come into effect. This may not be feasible for all enterprises so outsourcing statutory compliance to an external agency is perhaps the best option.

Typical laws covering employers

Consider some of the various laws that employers and businesses must comply with. These are Shops and Commercial Establishment Act, Employees PF Act, ESIC, Professional Tax, Labour Welfare Fund, Contract Labour and Minimum Wages Act to name only a few. Compounding the complexity is the various amendments to these Acts over the past years and you can see just how difficult it becomes for an HR employee to keep track unless he focuses on these Acts. This is where outsourcing compliance services prove to be far better to make sure you are always compliant. Failure to do so leads to fines, penalties and even jail term. In majority of cases if a disgruntled employee lodges a case then the court invariably decides in his favor and awards compensation. All of these can prove expensive for employers.

What outsourced compliance services do for your company?

Compliance services employ legal professional with particular expertise in the field of labour laws. This means their legal experts are always current and updated about the latest amendments and interpretations as well as applicability.

  • Should an issue be likely to arise then the legal experts of the compliance service company will take preventive action against escalation since legal proceedings are always expensive and time consuming.
  • If the matter does go to court then the legal experts of the statutory compliance service provider step in and handle the case.
  • Statutory compliance experts carry out regular audits to ensure their clients always are in full compliance of laws applicable to their operations.
  • Their experts examine upcoming amendments and their implications and advise clients to take appropriate measures to safeguard interests.
  • Management and administration on an ongoing basis is part of the service.
  • A sound legal framework ensures a safe and secure future roadmap on the statutory compliance road. It always pays to plan ahead and put in place a solid structure rather than carry out patch up jobs after the event.
  • Advisory on how best to manage the business within the framework of applicable statutory laws and incur least cost as well as risk.
  • Maintenance of all records in digitized format, easily accessible when needed.
  • Filing of forms with various departments and remittances.

 

It does take years of study and practical experience to gain a thorough understanding of all the applicable labour laws in India. When you outsource you are gaining access to this competence and that alone is worth the money. That you save on costs of suitable HR employees and enjoy peace of mind are added benefits. And, when you know there is continuity of service as in the case of Alp Consulting, it becomes one more reason to outsource statutory compliance.

Visit us : https://www.alpconsulting.in/statutory-compliance-services.html

 

 

 

Print Friendly, PDF & Email
Best Payroll Management Services in India-What to Expect

Payroll handling becomes complicated as the number of employees grows. In this scenario it is important to introduce some form of automation for quicker and error-free payroll process. The better option is to outsource it to the best payroll management services in India. Before you choose one there are parameters to consider. Continue Reading

Print Friendly, PDF & Email
Smart Companies Outsource HR to Human Resource Management Company | Here’s Why

Smart enterprises know that employees are the best asset and need to be managed professionally. One may set up an HR department but who will manage the HR people? Then there are other HR issues to consider all of which point to outsourcing HR as the most viable alternative. Continue Reading

Print Friendly, PDF & Email
Payroll Outsourcing Services Can Save Money and Insure Compliance

Complications in payroll management grow when the number of employees in a company goes up. Companies may employ people on monthly salary, contract and on daily or weekly wage basis and these further add to the burden. Payroll is not just calculation of money to be paid for work done. There are additions and deductions to be considered as well as compliance with myriad government regulations that keep changing from time to time. The HR department has to be competent but the entire process easily can be outsourced. Continue Reading

Print Friendly, PDF & Email
The Best HRMS Payroll Software in Today’s Scenario

Government frames laws applicable to employees and workers. Industry must comply with the newly framed laws or else they face stiff penalties. Enterprises that employ 20 or more people find it a chore to manage payrolls and the HR part. Thankfully, they can put in place payroll software or avail of it as a service or even outsource it. The same goes for other aspects of HR that HR software can handle with ease, freeing up employees for more productive tasks. Continue Reading

Print Friendly, PDF & Email
Alp Consulting Statutory Compliance Software To Help You Stay Fully Compliant With All Indian Laws

Any enterprise that employs 20 or more people automatically falls under the purview of various Acts and Laws in India. Staying compliant with the multitude of laws can become a major problem but not if you have suitable software to take care of compliances.  Take a look at the statutory compliances checklist below: Continue Reading

Print Friendly, PDF & Email
Various Aspects of Payroll Services that Enhance Your Business Operations

Enterprises that have a sizeable workforce will find it imperative to implement some kind of payroll solution. However, outsourcing payroll may be a better option when one considers the various aspects involved. Continue Reading

Print Friendly, PDF & Email
Proper Human Resource Planning Process Lays the Ground For Overall Improvements

Any enterprise that employs over 50 people needs to have a proper human resource management system in place. Planning is the key to successful HR administration, employee satisfaction and improved productivity. Human resource is the best asset and if employees are dissatisfied they will not go all out. This reflects in the company’s competitiveness. The best way forward is to involve HR experts for planning HR’s various aspects. Continue Reading

Print Friendly, PDF & Email
The Importance of HRMS Salary Slip For Employers and Employees

Any organization that employs 50 or more people must be particularly meticulous about payroll management and compliances. The salary slip is vital part of the payroll process. It is proof of employment as well as payment made each month to each employee. It is also important for employers since it shows payments made and deductions.

Continue Reading

Print Friendly, PDF & Email
Labour Law Compliance Checklist So You Know You Are Not Missing Anything

Labour law compliance refers to a set of accepted terms or conditions of employment. It refers to several regulatory compliances including minimum wages act, work men’s compensation act,contract labour act, factories act etc.

Business is tough in India. Apart from the business side, the company is also obligated to meet statutory compliance requirements. There are various Laws and Acts that the business must comply with or face punitive action. There are laws at Central level and there are State Government laws applicable to a business. Continue Reading

Print Friendly, PDF & Email


ARCHIVE
TAGS
BLOG CALENDAR
March 2019
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031