Companies, big and small must adhere to statutory laws and regulations to keep the businesses out of any legal trouble and avoid penalties. Keeping a track of changing government norms and regulations always is not easy and is a challenge in most companies.
Paysquare offers a range of statutory compliance services to help companies deal with such challenges. This includes, but is not limited to, your – Provident Fund, ESIC, Professional Tax, Labour Welfare Fund and other statutory deductions applicable for your particular organization.
Paysquare’s dedicated legal compliance management team keeps track of changing laws and updates the clients of the same apart from managing all the regular monthly activities. Through our services, we minimize the risk associated with non-compliance.
Statutory compliance is a legal framework that every organization needs to adhere to. Across most companies, it is observed that statutory compliance management in india has reached very important proportions Several times statutory compliance services
are also called as legal compliance management.
In the area of statutory compliance management india is really taking notice and most companies are putting in place a comprehensive strategy to address their statutory compliance and legal compliance requirements. Statutory compliance management in India is not a choice but is mandatory for companies of all sizes.
There are usually statutory compliances with reference to both payroll and accounting. In terms of payroll, there are clear mandates as to PF deductions, EPF participation, Profession tax payments, TDS deductions to be made, Returns to be filed based on TDS deducted etc. Each process needs to be done within its respective deadlines and non-adherence to the same can result in penalties and fines. Every business wants to focus on their growth and does not want to get involved in managing litigations and disputes, especially when it comes to the regulatory bodies.
In several organizations, in-house staff keep track of several of these statutory compliance services, but they may not be well equipped to be doing this on a regular basis. There are several occasions where regulations change frequently and you need some expert advice to get a correct interpretation of what this change means to your company. When you work with capable companies offering statutory compliance services india, you do not need to worry about any of your compliances. All of them are taken care of and within the prescribed deadlines.
Here are some of the pertinent statutory compliances which need to take care basis on industry and segments
As an organization focusing on business goals, it can be very disheartening to get pulled down by penalties, govt. notices and disputes. It is every business owner’s goals to stay away from all these complications and focus solely on their business growth.
Having a capable partner like Paysquare, who can manage end to end statutory compliance services is very helpful. Business owners are then able to spend quality time on growing their business and engaging with customers.
Paysquare is one of compliance outsourcing companies in India which takes care of all statutory compliance activities required as per government norms. Paysquare also manages all statutory compliance in HR, manage TDS deductions through investment declarations and automatically calculate salaries after TDS deduction while processing payroll. In addition, it allows you to capture Challans and generate form 16 and form 24Q to manage all your statutory compliance with ease and efficiency.