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Statutory compliance therefore entails the following; compliance with the legal requirements as set by the government on employment, labor laws and working conditions. These regulations range from wages of employees, including minimum wage and the allowance of overtime, employee benefits as well as safety of employees at the workplace. The legal environment in India is dynamic with constant changes in the legal provisions that firms need to have a check on. Irrespective of the size of the company or the kind of industry you own, there are many legal complications involved in payroll and statutory compliance that cannot be overlooked.

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