Every employee who has worked in the establishment for not less than 30 days in an accounting year shall be paid bonus by his / her employer as per Sec 8 of, The Payment of Bonus Act. The term ‘employee’ as defined in Sec 2(13) does not include contract workers. Hence the position is clear […]
What is NBFC? The Non-Banking Financial Companies (NBFC) is a heterogeneous group of financial institutions that perform vehicle finance, equipment lease finance, personal loans, consumer loans, housing loans, etc. It is regulated by the Reserve Bank of India (RBI). Most NBFC’s are categorized as: NBFC-D NBFC-ND Core investment companies. NBFC-D is NBFCs accepting deposits from banks whereas […]
Health is considered as a state of complete physical, mental, spiritual and social well-being and not merely the absence of disease or infirmity. Dr. Ashok Kumar Saxena (Director General of Health Services) With his words, it is clear that health is one of the imperative parameters of a nation’s development. Obviously, the Healthcare industry is […]
The incoming 2(y) vis-à-vis the outgoing 2(h) Finally, the new Code on Wages, 2019 which aims to amend and consolidate the existing four legislations, viz., The Equal Remuneration Act, The Minimum Wages Act, The Payment of Bonus Act and The Payment of Wages Act has been published on 8th August 2019. The definitions for the […]
What is Flexi Staffing? Flexi staffing is a service for employing people to make them available to a third party i.e., principal company. This is a tripartite employment type that the people are hired by a staffing agency and then hired out to perform work under the supervision of a principal company. The thing is […]
Yes, of course, it is available. Nowadays cloud computing is an on-demand technology and many companies come forward to offer cloud-based compliance solution. Among them, I would recommend looking at Compfie, futuristic cloud-based compliance tool that enables companies to track, govern and do all the regulatory requirements on the cloud thereby preventing future risks.
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.
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 HR compliance, it is an important player in the organisation’s compliance structure. Organisations are […]
Waking up to Data Risks Global news in recent times has 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 […]
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 […]
Why Compliance? Businesses are facing the extreme cost and operational pressures as regulatory bodies are continuously increasing mandatory compliance management system. 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 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. […]
A dashboard is the first thing you see when you log in to your compliance software. At a glance, you expect it to tell you everything you think you need to know. A simple enough demand, but this could be one of the most important aspects of compliance. After all the tracking, all the alerts, […]