The Importance of Statutory Compliance: What Every HR Professional Should Know Statutory compliance refers to the legal binding rules and regulations for which a company has to adhere to ensure proper conformance to the laws of the jurisdiction regarding the rights of the employees, payroll, taxation, and workplace security. The legal standards vary from country to country, and India is no exception, incorporating extensive labor laws, tax deductions, social security, and employee benefits. The management and payroll and statutory compliance requirements are significant responsibilities for HR professionals, given that they owe a duty to lawfully administer the wages of employees and ensure that these are accurately deducted for tax and social security and all labor laws are adhered to. https://paysquare.com/statutory-compliance/