Simply put compliance means abiding by rules, set guidelines or norms. Though one can relate compliance to even individual citizens, who must act in accordance to set laws for the greater benefit of the society. The term Compliance mostly and more importantly pertains to business establishments, industries, business services or products.
Employee Provident Fund goes for incremental changes
According to the latest buzz, Employee Provident Fund deduction may increase soon for certain segments of the working population. The change does not affect employees earning more than Rs. 15000 in basic wages plus dearness allowance. All variable allowances linked to the employee’s efforts, such as overtime allowance, can be excluded. What’s the existing model: […]
The importance of HR Compliance
At the centre of any organisation is the human resources (HR) function. The HR department focuses on identifying, hiring and retaining people with the right skill sets and qualities to execute the organisation’s strategy and achieve its goals. Given the importance of the HR function, it is an important player in the organisation’s compliance structure. Organisations […]
Dealing with the predicted economic downturn in 2019
The economic times ahead do not look promising. Experts are predicting a downturn in financial markets. So, it does look like handling 2019 needs much preparation. If you are in charge of a work force, how prepared are you in paying them? That’s the short question. The long version requires a lot of thought. Read […]
Compliance in the Age of Data Security
Waking up to Data Risks Global news in recent times have tried coming to a conclusion on data security. And the truth is, no one has been able to conclude. From a consumer’s perspective today, if you do anything online, you give people access to your data. And while it’s impossible to not leave a […]
5 Important Factors To Check Before You Process Payroll
One of the most important and defining processes of an organization is to with payroll. A good payroll process is something that keeps everyone, from the top to the bottom, happy and content with their work lives. Studies say that employee disgruntlement factor can go up alarmingly with every complexity addition in payroll processes. That’s […]
What Are You Doing About These Compliance Management Challenges?
Regulatory compliance shows up as one of the biggest challenges faced across all industry verticals. What is intimidating is the rising cost, number of resources and the time it takes to put together an effective compliance management system in any organization. It is not a ‘one size fits all’ solution so every organization has to […]
Compliance Management – Leverage Benefits, Build Trust
Why Compliance? Businesses are facing extreme cost and operational pressures as regulatory bodies are continuously increasing mandatory compliance requirements. The financial crisis of 2008 and the rising number of financial frauds being reported of late, have pushed the case for further monitoring by regulatory bodies. For businesses though, finance is just one of the areas […]
Making Compliance Work In India
The Indian economy has been on the growth path for the past few decades. This journey began with the announcement of economic reforms in the early nineties which allowed foreign direct investment in various sectors. We started slow but the main catalyst for growth was the information technology sector which became a major revenue generator. […]
What Are You Doing About These Compliance Management Challenges?
Regulatory compliance shows up as one of the biggest challenges faced across all industry verticals. What is intimidating is the rising cost, number of resources and the time it takes to put together an effective compliance management system in any organization. It is not a ‘one size fits all’ solution so every organization has to […]