Accrued payroll is a major accounting concept that enables a company to properly account for the obligation it has incurred with its employees. This ensures the correct accounting of employee’s wages and benefits within the incurred period, even if the actual payment occurs in a subsequent period. In this regard, an understanding of accrued payroll…
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A big part of payroll management in an organization is to make sure to comply with tax laws, compensation requirements, and employment regulations. But apart from these, payroll compliance meets on various other crucial aspects, such as following the deadlines for reporting and submitting and withholding the payroll taxes or making payroll compliant. Ensuring payroll compliance is…
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As the HR manager of a fast-growing technology startup, you are facing challenges arising from rapid expansion. You have gone from 10 employees to 50 staff in one year, and while these changes are exciting, the challenges are beginning to present. Your team feels burnt out, turnover is on the rise, and recruiting new employees…
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Unified Pension Scheme (UPS): Eligibility, Benefits & Returns The Central Government introduced the Unified Pension Scheme (UPS) on August 24, 2024. Set to be implemented from April 1, 2025, the UPS is expected to benefit 2.3 million Central Government employees. Here is everything you need to know about the UPS, including its details, benefits, and…
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List of Statutory Compliance in India Statutory compliance refers to the legal framework that organizations must adhere to while dealing with their employees. In India, these laws are established by various acts and cover a wide range of areas including labour laws, tax laws, and health and safety regulations. Here is a comprehensive list of…
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The job market is undergoing a significant transformation, driven by rapid advancements in technology, shifting economic landscapes, and evolving workforce expectations. At the forefront of this transformation are staffing solutions companies, which are playing a pivotal role in reshaping how we work, where we work, and what the future of work will look like. Flexibility…
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Statutory compliance checklist for manufacturing companies One can argue that the manufacturing industry is at the heart of all industry. Statutory compliance in the manufacturing companies is crucial to the safety of its workers, the quality of the products and services delivered and to the reputation of the company itself. The Government cares for employee welfare…
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In India, all business functions, including payroll, are governed by a set of guidelines collectively referred to as statutory compliance. Any business actively engaged in payroll operations is likely familiar with this term. Ensuring payroll compliance involves substantial resources, energy, and time, often requiring thorough audits to avoid legal issues. Businesses frequently worry about the…
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Navigating the intricate landscape of HR compliance in India is crucial for every organization. Ensuring adherence to labour laws, workplace safety regulations, and fair employment practices is not only a legal requirement but also essential for fostering a positive work environment. Definition of HR compliance HR compliance involves adhering to laws, regulations, and company policies…
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Running a successful business involves several critical considerations, and maintaining legal compliance should be at the top of your priority list. Legal compliance in India entails a significant amount of paperwork and procedures, making it essential to have a dedicated compliance team within your business to handle this function effectively. Adhering to laws, regulations,…
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