Compliance Audit – Regulatory Compliance
Compliance Audit under various labour legislations is an effective tool which helps to detect non-compliance of various labour laws applicable to an organization. And to find out gaps in compliance so that corrective measures can be taken.
Objectives of Labour Compliance Audit is to protect the interest of all the stake holders. This leads to better Governance and value creation for the organization and to avoid any unwanted legal actions against the organization and its management.
Compliance audit will ensure timely payment of wages, minimum wages notified by Govt., Overtime, Gratuity, Bonus, Compensation, etc. strict compliance of all applicable labour acts ensured by Employees
Employers will reduce or even eliminate penalties/ damages/ fines that may imposed by Govt.