The human side of statutory compliances

First a fact: Mildly put, most employers look at statutory compliances as a necessary evil and a nuisance at best. Most wish things were simpler. It is not without reason. There are multiple statutory compliances that are required, forms are numerous in nature, process is complicated and there is a lot of information overlap while filling up the forms. Another dimension is added by the fact that many rules of professional tax, labor welfare are different for many states. It is quite a challenge to keep abreast of all details of minimum wages of different states across the entire country. The government sites give information that is at times outdated as these sites are not updated regularly. Some of the notices received are in the local language and hence require a local expert to interpret and change the wordings. These issues do pose a challenge for businesses to complete the statutory compliances.
Of course, any viewpoint that has cons has pros as well. On the positive side we are catching up with technology fast. Income tax, Provident Fund, ESIC and Professional tax online filing is easy and fast. Searching for information is easy. Query resolution is available from government officials.

Beyond these ‘pros’ and ‘cons’ there is the human side of compliance. The intent of our social security schemes is to help minimum wage earners lead a dignified life. PF and pension schemes help make old age financially secure. Social and health security schemes such as ESIC aim to make medical services available to the wage earner and their families.
As it is often said, if you don’t like the law the only option is to change it, not break it. All law abiding citizens must comply with statutory requirements. Not complying is not an option. The good news is that it is increasingly becoming less difficult and less time consuming. If you have any statutory compliance concern, please let us know. We would be glad to assist.

TopSource IndiaThe human side of statutory compliances