Importance of Statutory Compliance of Businesses in India
No organization can function without people. The company’s employees work in various roles to fulfill the purpose of an organization. And, for a company to function well, it needs to be streamlined and organized, with proper norms & regulations set in place. These regulations are applied to every aspect of an organization, including the company’s interactions with its employees and its finances. This is known as statutory compliance. Why is it important? Statutory compliance relates
payroll outsourcing
Most businesses handle their payroll functions in-house. But with the development of interconnectivity and globalization, it’s becoming increasingly popular to outsource the payroll operations to a third-party professional. At PeopleSkills, we have a team of seasoned experts who are proficient at payroll management, statutory compliance and leave management. If your organization hasn’t already done this, here are 9 reasons why PeopleSkills should be your payroll outsourcing provider. 1. Experience Our experience is one of the
Employee’s State Insurance (ESI) is a self-financing scheme for Indian workers which covers health insurance and social security. ESI comes under Ministry of Labor & Employment in India and functions as an independent corporation. The ESI Corporation thus manages the funds which are regulated by the guidelines and regulations of the ESI Act. 1948. This act supervises the provision of medical and cash benefits to employees and their families through their comprehensive network of hospitals
Probably you may know the term compliance. Let’s see the quick definition of what is compliance? In general, Compliance means abiding by rules, set of guidelines or norms which are practiced in every industry for the betterment of the business. Now, why does Compliance Outsourcing needed? As the workload of an organization grows, the problem of handling an increasing number of compliances occurs. The in-house compliance team of the organization finds it very difficult to
When your company grows and payroll management becomes difficult and time-consuming task, outsourcing your payroll process might seem like the best solution. Most third-party payroll service providers help taking care of the nitty-gritty details of payroll – from calculating overtime hours and allowances to managing legislative changes and amending the payroll calculations accordingly. But, before you outsource your payroll management, you should consider these following points.  The productivity of your Business Payroll management is a
Technology all around the world is evolving at a rapid speed. Each day, new and better tech gets introduced with its own set of benefits and functions. Artificial Intelligence or in general referred to as AI, is a revolutionary tech. Though Revolution is often a big word, AI will be exactly like it. With endless ways to integrate into a business and makes it more streamlined and effective, AI has a lot of opportunities for