Statutory compliance refers to the legal framework put in place by the central or state government to regulate business operations. In this case, it's the framework surrounding payroll.
 

Every country has its set of payroll laws, and for business owners operating in that country, compliance is a must. Maintaining a spotless compliance record can benefit your business in many ways. It can facilitate business expansion within the country because you create trust with the government. It also shows that you know how to treat your employees well by adhering to labour laws.

In cases of non-compliance, there is a lot at stake for the businesses, such as monetary penalties and a tarnished brand reputation.

Therefore, dealing with statutory compliance requires companies to be well-versed with the labour regulations in the country of operation.

Depending on the industry and type of business, there are many labour laws that an organization has to comply with.
 

• The Employees Provident Fund & Miscellaneous Provisions Act, 1952

• The Minimum Wages Act, 1948

• The Payment Of Gratuity Act, 1972

• The Equal Remuneration Act, 1976

• The Employees’ State Insurance Act, 1948

• The Payment Of Bonus Act, 1965

• The Payment Of Wages Act, 1936

• The Apprentices Act, 1961

• The Contract Labour (Regulation & Abolition) Act, 1970

• The Child Labour (Prohibition & Regulation Act), 1986

• The Industrial Disputes Act, 1946

• The Industrial Employment Standing Orders Act, 1946

• The Factories Act, 1948

• The Employment Exchanges(Compulsory Notification Of Vacancies) Act, 1959

• The Trade Unions Act, 1926

• The Workmen’s Compensation Act, 1923

• Inter State Migrant Workmen( Regulation Of Employment & conditions Of service ) Act, 1979