Statutory Compliance- Labour Law
Statutory compliance identifies with the different work and tax assessment laws common in India. These laws change on a State and National level, and it is obligatory for organizations to comply with them. Resistance with these guidelines can land an organization into legitimate difficulty like punishments, fines, or more awful.
Importance
For Businesses
Each organization has something normal at its center – individuals. Without individuals, no association can work. These individuals are the organization’s representatives, who work in different jobs to satisfy its motivations. For an organization to work well, it should be coordinated and smoothed out, with legitimate standards and guidelines set up. These guidelines stretch out to each feature, incorporating the organization’s associations with its workers and its accounts. This is known as Statutory Compliance.
Labour Acts in India that require list of
Statutory Compliance
- The Workmen’s Compensation Act, 1923
- The Trade Unions Act, 1926
- The Payment Of Wages Act, 1936
- The Industrial Employment Standing Orders Act, 1946
- The Industrial Disputes Act, 1946
- The Employees’ State Insurance Act, 1948
- The Minimum Wages Act, 1948
- The Factories Act, 1948
- The Employees Provident Fund & Miscellaneous Provisions Act, 1952
- The Employment Exchanges(Compulsory Notification Of Vacancies) Act, 1959
- The Apprentices Act, 1961
- The Payment Of Bonus Act, 1965
- The Contract Labour (Regulation & Abolition) Act, 1970
- The Payment Of Gratuity Act, 1972
- The Equal Remuneration Act, 1976
- Inter-State Migrant Workmen( Regulation Of Employment & conditions Of service ) Act, 1979.
- The Child Labour (Prohibition & Regulation Act), 1986