Call: +91 8239071314
Statutory Compliance - Statutory means "of or related to statutes," or what we normally call laws or regulations. So statutory compliance means you are following the laws on a given issue. The term is most often used with organizations, who must follow lots of regulations. Statutory compliance, in HR, refers to the legal framework within which organizations must operate, in the treatment of their employees. Therefore, dealing with statutory compliance requires for companies to be well-versed with the various labor regulations in their country of operation. Regulatory compliance is an organization's adherence to laws, regulations, guidelines and specifications relevant to its business. Violations of regulatory compliance regulations often result in legal punishment, including federal fines.