1. Financial Penalties:
Failure to comply with laws like the Payment of Wages Act or the Employees' Provident Fund (EPF) Scheme can lead to significant fines and arrears.
2.Legal Challenges:
Non-compliance with laws like the Industrial Disputes Act or Sexual Harassment of Women at Workplace (Prevention, Prohibition, and Redressal) Act (POSH) can result in lawsuits or criminal proceedings.
3.Reputational Damage:
In today’s connected world, non-compliance can tarnish your brand and make it difficult to attract and retain talent.
4.Employee Dissatisfaction:
Non-adherence to labor laws or poor grievance handling signals neglect, which can lead to disengagement and attrition.
Staying compliant in India’s dynamic regulatory environment is key to sustainable business growth.
Whether it’s maintaining accurate payroll records, adhering to minimum wage laws, or ensuring workplace safety, compliance builds trust and stability in your workforce.