Understanding Payroll Statutory Compliance: Important Things Employers Should Know

The word statutory translates to “of or related to statutes”- rules and regulations, so statutory compliance stands for adhering to rules and regulations.

Non-compliance with these set rules may land the company in legal trouble along with fines and penalties.

This is why all operating businesses spend a lot of money and time to meet all the Key components of Payroll Statutory Compliance.

Any company that hires employees is liable to pay them salaries and comply with all the labour laws set by the government.

The state labour welfare board states that the amount and frequency of the contribution and may be different for every state.