*HR Statutory Compliance Outsourcing to HR Consulting FirmsAccuprosys

All organizations and corporate firms that employ a workforce mandatorily adhere to specific statutes, laws and regulations regarding their employees. This integral part of human resource management is called HR statutory compliance. Refusing or forgetting to follow these may harm the organization or result in legal action against managers. All stakeholders and HR managers are required to comply with statutory rules, which they may sometimes overlook or fail to comply with. Therefore, companies often outsource their HR statutory compliance tasks to HR consulting service providers. HR consulting firms manage the statutory compliance of their client organizations by auditing compliance reports, dealing with renewals and liaison with statutory entities, managing returns, etc. HR Recruiting Services and HR Audit Services.*

HR consulting services that manage statutory compliances cover major regulations that cover Payroll, Provident Fund, Labor Law Compliance, Shops and Establishment Act, Factories Act, Payment of Gratuity/ Wages/ Bonus, Maternity Benefit, Compensation, Professional Tax, Minimum Wages Act, Contract Labor Regulation and Abolition Act, and the Payment of Wages Act, in addition to several other such statutes. Companies that have a structured approach towards HR statutory compliances often record better bottom-line and growth. For companies that wish to be 100% compliant without the need for a large amount of resource utilization, it is always advisable to outsource their statutory compliance requirements to firms offering HR consulting services. It is essential to stay abreast with constant amendments made to statutory laws. Even if an organization makes sure it has a high level of compliance, it may be lagging behind in staying up-to-date on new laws. On the other hand, HR Audit, ensure they are up to date with regular changes made to such regulations in order to maintain their competency and expertise.*

It is therefore advantageous for firms to avail Recruitment Services so as to not only ensure compliance but also to avoid the risk of overlooking or missing statutory changes made at regular intervals. Outsourcing HR statutory compliance also implies that company have to allocate a lesser number of their resources, time and capital for such activities that can be taken care of by Recruitment Services for a lesser cost and that too without the use of the companys internal resources. This contributes to enhanced organizational growth and low risk of penalization.Important acts that govern HR statutory compliance include ESI, Gratuity, Professional Tax, Provident Fund, the Maternity Benefit Act, the Minimum Wages Act, the Payment of Bonus Act, and the Payment of Wages Act. *

The ESI or Employee State Insurance Act is an important component of HR statutory requirements. This Act was originally applicable to non-seasonal factories with 20 or more employees. However, it is now applicable to non-seasonal power using factories as well with ten or more employees and non-power using factories with 20 or more employees.All employees of factories are insured under this Act. The contribution towards the insurance comprises of both employee and employer contributions at the rate of 1.75% for employees and 4.75% for employers. There is a ceiling of Rs. 10,000 of the gross salary. HR consulting firms make sure the Act is complied with, with regards to the contribution period and the benefit period.

For more information visit http://www.accuprosys.com/hr-consulting-firms/*

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