Accuprosys Provides HR Recruitment Services and HR Audit Services

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HR Statutory Compliance
Outsourcing to
HR Consulting FirmsAccuprosys

2. • All organizations and corporate firms that
employ a workforce mandatorily adhere to
specific statutes, laws and regulations
regarding their employees. This integral
part of human resource management is
called HR statutory compliance. Refusing or
forgetting to follow these may harm the
organization or result in legal action against
managers. All stakeholders and HR
managers are required to comply with
statutory rules, which they may sometimes
overlook or fail to comply with. Therefore,
companies often outsource their HR
statutory compliance tasks to HR consulting
service providers. HR consulting firms
manage the statutory compliance of their
client organizations by auditing compliance
reports, dealing with renewals and liaison
with statutory entities, managing returns,
etc.
• HR Recruiting Services and
HR Audit Services.
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3. HR consulting services that manage statutory compliances cover major regulations
that cover Payroll, Provident Fund, Labor Law Compliance, Shops and Establishment
Act, Factories Act, Payment of Gratuity/ Wages/ Bonus, Maternity Benefit,
Compensation, Professional Tax, Minimum Wages Act, Contract Labor Regulation
and Abolition Act, and the Payment of Wages Act, in addition to several other such
statutes. Companies that have a structured approach towards HR statutory
compliances often record better bottom-line and growth. For companies that wish
to be 100% compliant without the need for a large amount of resource utilization, it
is always advisable to outsource their statutory compliance requirements to firms
offering HR consulting services. It is essential to stay abreast with constant
amendments made to statutory laws. Even if an organization makes sure it has a
high level of compliance, it may be lagging behind in staying up-to-date on new
laws. On the other hand, HR Audit, ensure they are up to date with regular changes
made to such regulations in order to maintain their competency and expertise.
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4. It is therefore advantageous for firms to avail Recruitment Services so as to
not only ensure compliance but also to avoid the risk of overlooking or
missing statutory changes made at regular intervals. Outsourcing HR statutory
compliance also implies that company have to allocate a lesser number of
their resources, time and capital for such activities that can be taken care of
by Recruitment Services for a lesser cost and that too without the use of the
company’s internal resources. This contributes to enhanced organizational
growth and low risk of penalization.
Important acts that govern HR statutory compliance include ESI, Gratuity,
Professional Tax, Provident Fund, the Maternity Benefit Act, the Minimum
Wages Act, the Payment of Bonus Act, and the Payment of Wages Act.
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5. • The ESI or Employee State Insurance Act is an important component of HR
statutory requirements. This Act was originally applicable to non-seasonal
factories with 20 or more employees. However, it is now applicable to non-
seasonal power using factories as well with ten or more employees and non-
power using factories with 20 or more employees.All employees of factories are
insured under this Act. The contribution towards the insurance comprises of both
employee and employer contributions at the rate of 1.75% for employees and
4.75% for employers. There is a ceiling of Rs. 10,000 of the gross salary. HR
consulting firms make sure the Act is complied with, with regards to the
contribution period and the benefit period.
• For more information visit http://www.accuprosys.com/hr-consulting-firms/
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