Advantages of statutory compliances

statutory compliances define adhere  rules and regulations that an organization follows when dealing
with its employees

1. It ensures that the employees are paid based on the work they have done.

2. It ensures that the employees are not working for long hours or inhuman conditions.

3. It protects organizations from unreasonable wage or benefit demands from employee unions

4. It prevents organizations from legal troubles.

5.TDS Deductions: Employees having reasonable pay scale will have to lose a sum of money to TDS Deductions made by the employers of the company, Education, travel leave, medical allowance impacts TDS Deductions

6.wage system: Statutory compliance in HR benefits where there are minimum wages, This system helps in maintaining fixed and standard incomes for skilled and unskilled labours.

7.Provident fund: pf is the money saved for the workers to ensure that their basic needs are taken care of after they retire or not able to work.

8.Bonus act: Bonus is given to the employees for their performance over the period of time, This motivates employees to work with more efficiency for the betterment of the organization.

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