Statutory Compliance Audit

HR Connect

Statutory Compliance Audit Services

Ensuring Legal Compliance, Building Trust

Ensure your business adheres to all regulatory standards with our comprehensive compliance audits. We identify gaps, mitigate risks, and ensure seamless adherence to statutory requirements. Trust us for a thorough and reliable audit process.

Ensuring Compliance, Minimizing Risks

Key Components of HR Statutory Compliance Audit

HR statutory compliance audit services involve reviewing and ensuring that an organization's HR practices and processes align with applicable labor laws and statutory regulations. These audits help identify gaps, reduce legal risks, and improve overall compliance. Here's an outline of what such services typically include:

Compliance with Labor Laws

Verification of adherence to laws like EPF (Employee Provident Fund), ESIC (Employee State Insurance Corporation), Minimum Wages Act, Payment of Gratuity Act, and others applicable to your industry.

Documentation Review

Checking statutory registers, records, and filings to ensure accuracy and completeness.
Verifying appointment letters, wage slips, and employee contracts for legal conformity.

Payroll Compliance

Auditing payroll processes for correct deductions, contributions, and timely submissions of EPF, ESIC, PT (Professional Tax), and TDS (Tax Deducted at Source).

Policy and Process Evaluation

Assessing HR policies (e.g., leave, working hours, overtime) to ensure compliance with labor laws.
Reviewing internal grievance redressal mechanisms.

Inspection Preparedness

Ensuring the organization is prepared for inspections by labor authorities or regulators.
Providing recommendations for compliance improvements.

Statutory Payments

Auditing the accuracy and timeliness of payments to statutory authorities (EPF, ESIC, PT, etc.).

Risk Assessment

Identifying areas of non-compliance and evaluating potential penalties or legal repercussions.

Reports and Action Plans

Delivering a comprehensive audit report highlighting gaps and suggesting corrective actions.
Offering ongoing support for implementing compliance solutions.

Benefits of HR Statutory Compliance Audit:

Legal Risk Mitigation
Avoid penalties, fines, and legal disputes.
Operational Efficiency
Streamline HR processes and ensure accurate records.
Enhanced Reputation
Build trust with employees, stakeholders, and regulatory bodies.
Inspection Readiness
Stay prepared for any audits or inspections by authorities.

HR Connect