It goes without saying that employees and people are what drive organizations forward. The growth and performance of an organization is entirely dependent on the performance and well-being of its employees. The CoVID-19 pandemic, however, disrupted businesses and the way employees are taken care of. This highlights the importance of statutory compliance in the workplace. Statutory…
Compliance is both a necessary and grueling process that organizations have to continuously maintain and follow. Compliance can be both time and effort intensive when done in house. Because of this, most organizations prefer to outsource this process to compliance services. Third party concerns called compliance services take over and oversee all compliance related activities…
Processing an organization’s payroll is a time consuming and tedious task. It can potentially take away resources and efforts of an organization that could be directed elsewhere towards its growth. According to Tholons Top 50 Digital Nations and A. T. Kearney Global Services Location Index of 2019, India is still the best nation to outsource.…
Every year is a year different, and 2021 is no different from the previous year when we talk of changes in HR. Compliance will see some significant changes in 2021 in terms of its implementation in the coming year. Statutory Compliance in HR is a strategic subject matter that is crucial for the successful running of…
Payroll is a very vital component of any business organization. To run a business successfully, it is necessary to ensure total payroll & tax compliance, the lack of which may draw a penalty from legal authorities. It should be remembered that today’s business environment requires a very good form of corporate governance for the organization to succeed in…
Any organization is only as good as the synergy between its employees and the higher-ups. For this synergy to deliver on effectiveness, two crucial elements are necessary: corporate governance and compliance. Corporate Governance Corporate Governance implies to a system of rules, practices, and processes that a firm uses to direct and control its efforts. This encompasses almost every…
Compliance is a very basic and fundamental part of any business. Today every business, big or small, must adhere to a set of compliances, and corporate are taking steps to make sure that they get everything right when it comes to compliances. Non-Compliance with regulatory requirements may result in fines and even unpleasant situations. Businesses…
The manufacturing industry in India is an integral part of its economy. According to the World Bank’s statistics, manufacturing was responsible for 13.72% of India’s GDP in 2019. Given that manufacturing is responsible for a substantial chunk of India’s GDP, development in this sector becomes essential. Manufacturing industries involve a lot of human resources and…
The landscape of business is undergoing a rapid transformation. The current global situation has also been responsible for quick changes in the way organizations do business. Organizations have quickly adapted to newer technologies that can help various aspects of their organization function better. An area that requires looking into is the application of technology in…
Statutory compliance refers to the process where companies adhere to a set of requisite laws and regulations by the regulatory body or entity. Compliance is monitored either by a governmental agency or an independent concern within a particular sector. These entities oversee practices and policies that companies follow while conducting business. The initiatives taken by…
