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Statutory Compliance Audit Process

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Core Integra undertakes Labour Law compliance Audit and Due Deligence assignments ,assisting MNCS and employees availing social security

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Statutory Compliance Audit Process

  1. 1. Core IntegraHR Solutions for Today and Tomorrow
  2. 2. INDEX • SERVICE OFFERINGS • OUR PRESENCE •COMPLIANCE AUDIT PROCESS •STATUTORY DUE DELIGENCE PROCESS •STATUTORY ADVISORY SERVICES FOR EXPANSIONS,MEGERS&ACQUISITIONS,DIVERSIFICATIONS etc •STATUTORY BENEFIT OUSOURCING SERVICES
  3. 3. SERVICE OFFERINGS: STATUTORY COMPLIANCE MANAGEMENT SERVICES STATUTES RELATED TO (EMPLOYMENT & LABOUR CONTRACTORS & LAWS) CONTRACT EMPLOYEES STATUTORY STATUTORY STATUTORY HR & COMPLIANCE STATUTORY ADVISORY BENEFIT AUDIT DUE SERVICES ADMINISTRATION (LABOUR DILIGENCE (STAT LAWS) OUTSOURCING)
  4. 4. OUR PRESENCE Capabilities to cater services PAN India (representative delivery locations): • Chennai • Bangalore • Mangalore • Hyderabad • Delhi • Gurgaon • Mumbai • Pune • Ahmedabad • Baroda • Bhubaneswar • Kolkata • Coimbatore • Patna
  5. 5. Compliance Audit Process Submission of final report Presentation of the discussion on observations / findings Gap identification and recommendations Compliance check as per provisions of various acts and rules Identification of applicable statutory rules and regulations
  6. 6. STATUTORY DUE DILIGENCE PROCESSUnderstanding clients business need• Initial framework and scope designing• Finalizing checklist of audit.• Analyzing various compliance policies Risk Assessment and Evaluation •Adequacy & Control Measures •Checking major area of focus Gaps Identification •look into audited balance sheet & Annual report •Financial liabilities associated with the processes Submission of Final Report. •Gaps identified are transformed into observation. • Analyzed to form recommendation. •Overview of findings presented in report.
  7. 7. STATUTORY ADVISORY SERVICE (NEW BUSINESS SET-UP, BUSINESS EXPANSION, DIVERSIFICATION AND ACQUISITIONS)Identification of the applicable labor regulation • Nature of Business • Project plan • Geographical ProximityDrafting Compliance report . • Quoting Objectives • Important provision . • Administrative issues and penalties. • Procuring required registration and licensesStreamlining Statutory Compliance Administration. • Special emphasis on Contractors . • Contract Employees related issues
  8. 8. STATUTORY BENEFIT ADMINISTRATION (PERPETUALCONTRACT)• Preliminary system / process study• Creation of necessary database• Maintenance of Forms and Registers, Challans and Returns• Ensuring compliance of provisions as per Acts and Rules• Assisting employees for ensuring coverage of statutory benefits• Compliance check on the applicable statutes for the contract employees and the contractors• Periodical Statutory Compliance Audit for the client & contractors• Assistance during the statutory audits / inspections• Generating customized reports• Formation of need based project team – Onsite / Offsite or combination of both
  9. 9. Looking forward to a healthyProfessional Relationship.Thank You!

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