HR STATUTORY COMPLAINCE SERVICE

What is Statutory Compliance?

The word statutory can be defined as ‘enacted by statute’ or ‘regulations’, and compliance means ‘agreement’. Combining Statutory Compliance forms an agreement of regulations’ or ‘to follow regulations.

Statutory compliance adherence provides a great deal of security, starting from employees’ minimum wages to the company’s business existence. Every country develops its own set of rules for organizations to follow, that adds up every year. Organizations put a lot of effort and money into adhering to these laws. However, it is not possible for every organization, especially SMEs, to invest a lot of money in this.