Statutory Compliance
Dealing effectively the complications of payroll compliance issues is mandatory for your business to succeed. At Savi3HR, we provide end to end payroll compliance related services, making sure that your registrations, renewals, register maintenance, and return filings are handled proficiently. Our pool of experts stays up – to – date of ever-evolving regulations and labour laws, ensuring you with hassle free payroll and compliance services. Let us manage the intricacies of payroll compliance, so you can focus on expanding your business with confidence. |
Why Is It Important?
Payroll compliance is the most important aspect and practice to avoid legal complexities, penalties, financial losses, and reputational defacement. Non-compliance can create various problems like penalties and lawsuits, disrupting business reputation and operations. Reciprocally if you adhere to payroll rules and regulations it will blossom a trustworthy and hassle free work environment. Increasing employee morale and work efficiency. Partnering with payroll compliance services safeguards your business’s future. |
Our experts handle all necessary registrations, renewals, and licenses, ensuring your business remains compliant with statutory requirements.
We build strong relationships with local bodies and labor authorities, effectively addressing compliance-related queries and concerns.
Our team conducts thorough audits to identify potential risks and develops strategic plans to mitigate them proactively.
Stay informed about the latest changes in labor laws and regulations with our regular updates and alerts.
Trust our specialists to handle the submission of challans and remittances for PF, ESIC, PT, and LWF with utmost accuracy.
We maintain and update your statutory registers, ensuring they are always inspection-ready.
we provide comprehensive support during compliance inspections, addressing queries and representing your interests.
From employee onboarding to exit, we offer complete compliance tracking services, leaving no room for errors.
Evolution of the New Wage Code:
The Code on Wages, 2019, consolidates previous laws to ensure uniformity and broader applicability across all industries and workers. It introduces a national minimum wage to reduce wage disparities and standardizes the definition of ‘wages’ to eliminate ambiguity. This reform promotes a fair, inclusive labor market and modernizes labor regulations to support a transparent wage structure.
How It Benefits The Employer & Employee?
The new wage code simplifies compliance and enhances transparency for employers by consolidating various wage regulations into a single framework, easing payroll management. Employees benefit from a consistent minimum wage nationwide, promoting financial stability and reducing wage disparities. Standardizing wage definitions ensures fair compensation, fostering a more equitable labor market. This streamlined approach bolsters a cooperative employer-employee relationship, contributing to economic growth and social equity.
🏥 Employees’ State Insurance Act, 1948: Ensures health insurance and medical benefits for workers.
💼 Employees’ Provident Funds and Miscellaneous Provisions Act, 1952: Mandates provident fund, pension, and insurance for employees.
🤰 Maternity Benefit Act, 1961: Guarantees maternity benefits to women employees.
🎁 Payment of Gratuity Act, 1972: Provides a gratuity to employees engaged in factories, mines, oilfields, plantations, ports, railway companies, shops, or other establishments.
👷 Building and Other Construction Workers Welfare Cess Act, 1996: Levies a cess to fund welfare measures for construction workers.
📬 Employment Exchanges (Compulsory Notification of Vacancies) Act, 1959: Requires employers to notify vacancies to prescribed employment exchanges.
🏭 Factories Act, 1948: Regulates labor in factories, setting standards for working conditions, including safety, health, hours of work, and wages.
⛏️ Mines Act, 1952: Governs the safety and health of workers in the mining industry.
🚢 Dock Workers (Safety, Health, and Welfare) Act, 1986: Provides for the health, safety, and welfare of dock workers.
🚧 Building and Other Construction Workers (Regulation of Employment and Conditions of Service) Act, 1996: Regulates the employment and conditions of service of building and construction workers.
🌿 Plantations Labour Act, 1951: Provides for the welfare of plantation workers and regulates the conditions of their work.
🔗 Contract Labour (Regulation and Abolition) Act, 1970: Aims to prevent the exploitation of contract labor and introduce better conditions of work.
💵 Minimum Wages Act, 1948: Sets minimum statutory wages for scheduled employment, aiming to prevent exploitation.
🕒 Payment of Wages Act, 1936: Ensures that wages payable to employees are disbursed by the employers within the prescribed period without unauthorized deductions.
🎉 Payment of Bonus Act, 1965: Provides for the payment of statutory bonus to eligible employees of certain establishments.
⚖️ Equal Remuneration Act, 1976: Prevents discrimination on the basis of sex in terms of payment and employment.
🏷️ Trade Unions Act, 1926: Provides for the registration and protection of trade unions.
📜 Industrial Employment (Standing Orders) Act, 1946: Regulates the conditions of employment in industrial establishments.
⚖️ Industrial Disputes Act, 1947: Seeks to promote fair industrial relations by providing machinery and support for the investigation and settlement of industrial disputes.
Stay ahead of legal challenges and penalties with our payroll and compliance services.
Our streamlined payroll compliance services save time and resources, letting you focus on core activities.
Show your dedication to compliance and earn trust from stakeholders and employees alike.
From payroll compliance to labor welfare, our services span all crucial areas of HR compliance.
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