{"id":607,"date":"2022-10-28T12:14:43","date_gmt":"2022-10-28T06:44:43","guid":{"rendered":"https:\/\/raaas.com\/blog\/?p=607"},"modified":"2024-03-12T12:12:52","modified_gmt":"2024-03-12T06:42:52","slug":"everything-you-need-to-know-about-statutory-compliances-in-india","status":"publish","type":"post","link":"https:\/\/raaas.com\/blog\/everything-you-need-to-know-about-statutory-compliances-in-india\/","title":{"rendered":"Everything you need to know about Statutory Compliances in India"},"content":{"rendered":"

The word”HR” (“Human resource”) is a reference to how employees are managed and developed within a company.<\/span>\u00a0A business cannot function without employees (employees) so creating policies that are appropriate for the development and welfare of employees is crucial to running a business.<\/span><\/p>\n

The statutory compliance requirements are designed to ensure that businesses can operate properly without harming the requirements of those surrounding them.<\/span>\u00a0This article focuses on the subject of HR statutory compliance and its importance of it.<\/span><\/p>\n

What is Statutory Compliance?<\/span><\/h2>\n

The meaning of statutory compliance is expressed in the definition itself.<\/span>\u00a0They are a set of legal guidelines that each organization must adhere to.<\/span>\u00a0Regarding the HR department, compliance with the law means that an organization must adhere to the legal guidelines regarding the treatment of employees.<\/span><\/p>\n

What is HR Compliance in India?<\/span><\/h2>\n

The legal compliance requirements in India with respect to HR is as follows:<\/span><\/p>\n

    \n
  • Labour Welfare Fund Act, Bonus Act<\/span><\/li>\n
  • Industrial Establishment (N&FH) ACT<\/span><\/li>\n
  • Shops and Commercial Establishments Act<\/span><\/li>\n
  • ESIC Act<\/span><\/li>\n
  • Employees Provident Funds Act<\/span><\/li>\n
  • Child Labour Prohibition & Regulation Act<\/span><\/li>\n
  • Interstate Migrant Workmen ACT<\/span><\/li>\n
  • Professional Tax Act<\/span><\/li>\n
  • Minimum Wages Act, Trade Unions Act<\/span><\/li>\n
  • Employment Exchange Act<\/span><\/li>\n
  • Contract Labour Act<\/span><\/li>\n
  • Payment of Wages Act<\/span><\/li>\n
  • Sexual Harassment of Women Act<\/span><\/li>\n
  • Maternity Benefit Act, Gratuity Act, Equal Remuneration Act<\/span><\/li>\n
  • Employees Compensation Act<\/span><\/li>\n
  • Factories Act<\/span><\/li>\n
  • Industrial Employment Act, Apprentice Act, Industrial Disputes Act<\/span><\/li>\n<\/ul>\n

    The application of different Acts could differ from state to state.<\/span><\/p>\n

    What is the reason Statutory Compliance is important?<\/span><\/h2>\n

    Compliance with the law is essential not only for employees but as well for the employer too.<\/span>\u00a0Infractions to the law can be proven negative for the company.<\/span><\/p>\n

    The benefits of ensuring the requirements of the law for organizations are:<\/span><\/p>\n

      \n
    • A company that is compliant can cut down on time, effort, and money that can be put to use in areas that affect its revenue and operations.<\/span><\/li>\n
    • The company will be able to avoid any fines or penalties that might otherwise be imposed because of the inability to pay timely.<\/span><\/li>\n
    • The business can shield it from unreasonable requests made by trade unions over pay and other benefits.<\/span><\/li>\n
    • Avoid negative incidents and other legal consequences.<\/span><\/li>\n
    • The company will be able to safeguard its brand name in the marketplace.<\/span><\/li>\n
    • It can help establish an ethical workplace culture.<\/span><\/li>\n
    • Efficacy increases employee morale and reduces employee turnover rate.<\/span><\/li>\n<\/ul>\n

      Compliance with the law is important for employees, as:<\/span><\/p>\n

        \n
      • It is a right to fair treatment for employees.<\/span><\/li>\n
      • It makes sure that the business adheres to the minimum wage and pays its employees accordingly.<\/span><\/li>\n
      • Create a safe work area for workers.<\/span><\/li>\n
      • The law does not permit them to be forced to work for hours in violation of the law.<\/span><\/li>\n<\/ul>\n

        Respecting the laws of the state helps to maintain the trust of both employees and customers.<\/span>\u00a0Compliance can affect the business both from the inside and outside and the reputation of the business is more secure, which gives the company an advantage over its competitors.<\/span>\u00a0Most companies are inclined to complete operations goals, and they may not pay attention to the compliance aspects.<\/span>\u00a0To resolve this problem, businesses can employ or outsource professional legal service providers to help them with their compliance.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

        The word”HR” (“Human resource”) is a reference to how employees are managed and developed within a company.\u00a0A business cannot function without employees (employees) so creating policies that are appropriate for the development and welfare of employees is crucial to running a business. The statutory compliance requirements are designed to ensure that businesses can operate properly …<\/p>\n","protected":false},"author":1,"featured_media":608,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[288,290,289,291],"class_list":["post-607","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-everything-you-need-to-know-about-statutory-compliances-in-india","tag-what-is-hr-compliance-in-india","tag-what-is-statutory-compliance","tag-what-is-the-reason-statutory-compliance-is-important"],"yoast_head":"\nEverything you need to know about Statutory Compliances in India - Blog | Chartered Accountant in India<\/title>\n<meta name=\"description\" content=\"Everything you need to know about Statutory Compliances in India - Blog | Chartered Accountant in India\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/raaas.com\/blog\/everything-you-need-to-know-about-statutory-compliances-in-india\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Everything you need to know about Statutory Compliances in India - Blog | Chartered Accountant in India\" \/>\n<meta property=\"og:description\" content=\"Everything you need to know about Statutory Compliances in India - Blog | Chartered Accountant in India\" \/>\n<meta property=\"og:url\" content=\"https:\/\/raaas.com\/blog\/everything-you-need-to-know-about-statutory-compliances-in-india\/\" \/>\n<meta property=\"og:site_name\" content=\"Blog | Chartered Accountant in India\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-28T06:44:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-12T06:42:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/raaas.com\/blog\/wp-content\/uploads\/2022\/10\/Blogs23.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/raaas.com\\\/blog\\\/everything-you-need-to-know-about-statutory-compliances-in-india\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/raaas.com\\\/blog\\\/everything-you-need-to-know-about-statutory-compliances-in-india\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/raaas.com\\\/blog\\\/#\\\/schema\\\/person\\\/49f114d1660289354e70ea8fc976af54\"},\"headline\":\"Everything you need to know about Statutory Compliances in India\",\"datePublished\":\"2022-10-28T06:44:43+00:00\",\"dateModified\":\"2024-03-12T06:42:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/raaas.com\\\/blog\\\/everything-you-need-to-know-about-statutory-compliances-in-india\\\/\"},\"wordCount\":542,\"publisher\":{\"@id\":\"https:\\\/\\\/raaas.com\\\/blog\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/raaas.com\\\/blog\\\/everything-you-need-to-know-about-statutory-compliances-in-india\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/raaas.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Blogs23.png\",\"keywords\":[\"Everything you need to know about Statutory Compliances in India\",\"What is HR Compliance in India?\",\"What is Statutory Compliance?\",\"What is the reason Statutory Compliance is important?\"],\"articleSection\":[\"Others\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/raaas.com\\\/blog\\\/everything-you-need-to-know-about-statutory-compliances-in-india\\\/\",\"url\":\"https:\\\/\\\/raaas.com\\\/blog\\\/everything-you-need-to-know-about-statutory-compliances-in-india\\\/\",\"name\":\"Everything you need to know about Statutory Compliances in India - Blog | Chartered Accountant in India\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/raaas.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/raaas.com\\\/blog\\\/everything-you-need-to-know-about-statutory-compliances-in-india\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/raaas.com\\\/blog\\\/everything-you-need-to-know-about-statutory-compliances-in-india\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/raaas.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Blogs23.png\",\"datePublished\":\"2022-10-28T06:44:43+00:00\",\"dateModified\":\"2024-03-12T06:42:52+00:00\",\"description\":\"Everything you need to know about Statutory Compliances in India - Blog | Chartered Accountant in India\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/raaas.com\\\/blog\\\/everything-you-need-to-know-about-statutory-compliances-in-india\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/raaas.com\\\/blog\\\/everything-you-need-to-know-about-statutory-compliances-in-india\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/raaas.com\\\/blog\\\/everything-you-need-to-know-about-statutory-compliances-in-india\\\/#primaryimage\",\"url\":\"https:\\\/\\\/raaas.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Blogs23.png\",\"contentUrl\":\"https:\\\/\\\/raaas.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Blogs23.png\",\"width\":1200,\"height\":628,\"caption\":\"Everything you need to know about Statutory Compliances in India\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/raaas.com\\\/blog\\\/everything-you-need-to-know-about-statutory-compliances-in-india\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/raaas.com\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Everything you need to know about Statutory Compliances in India\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/raaas.com\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/raaas.com\\\/blog\\\/\",\"name\":\"Blog | Chartered Accountant in India\",\"description\":\"Chartered Accountant in India\",\"publisher\":{\"@id\":\"https:\\\/\\\/raaas.com\\\/blog\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/raaas.com\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/raaas.com\\\/blog\\\/#organization\",\"name\":\"Blog | Chartered Accountant in India\",\"url\":\"https:\\\/\\\/raaas.com\\\/blog\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/raaas.com\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/raaas.com\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/01\\\/cropped-logo3-1.png\",\"contentUrl\":\"https:\\\/\\\/raaas.com\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/01\\\/cropped-logo3-1.png\",\"width\":450,\"height\":120,\"caption\":\"Blog | Chartered Accountant in India\"},\"image\":{\"@id\":\"https:\\\/\\\/raaas.com\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/raaas.com\\\/blog\\\/#\\\/schema\\\/person\\\/49f114d1660289354e70ea8fc976af54\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/1f53cee910d2383284dd9b8d9241f64a8098b764bf1355a3e968ae04563726c5?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/1f53cee910d2383284dd9b8d9241f64a8098b764bf1355a3e968ae04563726c5?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/1f53cee910d2383284dd9b8d9241f64a8098b764bf1355a3e968ae04563726c5?s=96&d=mm&r=g\",\"caption\":\"admin\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Everything you need to know about Statutory Compliances in India - Blog | Chartered Accountant in India","description":"Everything you need to know about Statutory Compliances in India - Blog | Chartered Accountant in India","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/raaas.com\/blog\/everything-you-need-to-know-about-statutory-compliances-in-india\/","og_locale":"en_US","og_type":"article","og_title":"Everything you need to know about Statutory Compliances in India - Blog | Chartered Accountant in India","og_description":"Everything you need to know about Statutory Compliances in India - Blog | Chartered Accountant in India","og_url":"https:\/\/raaas.com\/blog\/everything-you-need-to-know-about-statutory-compliances-in-india\/","og_site_name":"Blog | Chartered Accountant in India","article_published_time":"2022-10-28T06:44:43+00:00","article_modified_time":"2024-03-12T06:42:52+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/raaas.com\/blog\/wp-content\/uploads\/2022\/10\/Blogs23.png","type":"image\/png"}],"author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/raaas.com\/blog\/everything-you-need-to-know-about-statutory-compliances-in-india\/#article","isPartOf":{"@id":"https:\/\/raaas.com\/blog\/everything-you-need-to-know-about-statutory-compliances-in-india\/"},"author":{"name":"admin","@id":"https:\/\/raaas.com\/blog\/#\/schema\/person\/49f114d1660289354e70ea8fc976af54"},"headline":"Everything you need to know about Statutory Compliances in India","datePublished":"2022-10-28T06:44:43+00:00","dateModified":"2024-03-12T06:42:52+00:00","mainEntityOfPage":{"@id":"https:\/\/raaas.com\/blog\/everything-you-need-to-know-about-statutory-compliances-in-india\/"},"wordCount":542,"publisher":{"@id":"https:\/\/raaas.com\/blog\/#organization"},"image":{"@id":"https:\/\/raaas.com\/blog\/everything-you-need-to-know-about-statutory-compliances-in-india\/#primaryimage"},"thumbnailUrl":"https:\/\/raaas.com\/blog\/wp-content\/uploads\/2022\/10\/Blogs23.png","keywords":["Everything you need to know about Statutory Compliances in India","What is HR Compliance in India?","What is Statutory Compliance?","What is the reason Statutory Compliance is important?"],"articleSection":["Others"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/raaas.com\/blog\/everything-you-need-to-know-about-statutory-compliances-in-india\/","url":"https:\/\/raaas.com\/blog\/everything-you-need-to-know-about-statutory-compliances-in-india\/","name":"Everything you need to know about Statutory Compliances in India - Blog | Chartered Accountant in India","isPartOf":{"@id":"https:\/\/raaas.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/raaas.com\/blog\/everything-you-need-to-know-about-statutory-compliances-in-india\/#primaryimage"},"image":{"@id":"https:\/\/raaas.com\/blog\/everything-you-need-to-know-about-statutory-compliances-in-india\/#primaryimage"},"thumbnailUrl":"https:\/\/raaas.com\/blog\/wp-content\/uploads\/2022\/10\/Blogs23.png","datePublished":"2022-10-28T06:44:43+00:00","dateModified":"2024-03-12T06:42:52+00:00","description":"Everything you need to know about Statutory Compliances in India - Blog | Chartered Accountant in India","breadcrumb":{"@id":"https:\/\/raaas.com\/blog\/everything-you-need-to-know-about-statutory-compliances-in-india\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/raaas.com\/blog\/everything-you-need-to-know-about-statutory-compliances-in-india\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/raaas.com\/blog\/everything-you-need-to-know-about-statutory-compliances-in-india\/#primaryimage","url":"https:\/\/raaas.com\/blog\/wp-content\/uploads\/2022\/10\/Blogs23.png","contentUrl":"https:\/\/raaas.com\/blog\/wp-content\/uploads\/2022\/10\/Blogs23.png","width":1200,"height":628,"caption":"Everything you need to know about Statutory Compliances in India"},{"@type":"BreadcrumbList","@id":"https:\/\/raaas.com\/blog\/everything-you-need-to-know-about-statutory-compliances-in-india\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/raaas.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Everything you need to know about Statutory Compliances in India"}]},{"@type":"WebSite","@id":"https:\/\/raaas.com\/blog\/#website","url":"https:\/\/raaas.com\/blog\/","name":"Blog | Chartered Accountant in India","description":"Chartered Accountant in India","publisher":{"@id":"https:\/\/raaas.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/raaas.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/raaas.com\/blog\/#organization","name":"Blog | Chartered Accountant in India","url":"https:\/\/raaas.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/raaas.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/raaas.com\/blog\/wp-content\/uploads\/2019\/01\/cropped-logo3-1.png","contentUrl":"https:\/\/raaas.com\/blog\/wp-content\/uploads\/2019\/01\/cropped-logo3-1.png","width":450,"height":120,"caption":"Blog | Chartered Accountant in India"},"image":{"@id":"https:\/\/raaas.com\/blog\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/raaas.com\/blog\/#\/schema\/person\/49f114d1660289354e70ea8fc976af54","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/1f53cee910d2383284dd9b8d9241f64a8098b764bf1355a3e968ae04563726c5?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/1f53cee910d2383284dd9b8d9241f64a8098b764bf1355a3e968ae04563726c5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/1f53cee910d2383284dd9b8d9241f64a8098b764bf1355a3e968ae04563726c5?s=96&d=mm&r=g","caption":"admin"}}]}},"_links":{"self":[{"href":"https:\/\/raaas.com\/blog\/wp-json\/wp\/v2\/posts\/607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/raaas.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/raaas.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/raaas.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/raaas.com\/blog\/wp-json\/wp\/v2\/comments?post=607"}],"version-history":[{"count":1,"href":"https:\/\/raaas.com\/blog\/wp-json\/wp\/v2\/posts\/607\/revisions"}],"predecessor-version":[{"id":609,"href":"https:\/\/raaas.com\/blog\/wp-json\/wp\/v2\/posts\/607\/revisions\/609"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/raaas.com\/blog\/wp-json\/wp\/v2\/media\/608"}],"wp:attachment":[{"href":"https:\/\/raaas.com\/blog\/wp-json\/wp\/v2\/media?parent=607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/raaas.com\/blog\/wp-json\/wp\/v2\/categories?post=607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/raaas.com\/blog\/wp-json\/wp\/v2\/tags?post=607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}