Statutory compliances are those which are required to maintain some legal Acts..
At the time of incorporation of any organisation, it is required to do the registration of the same and keep one of the copy at office premises to show, if any Inspection happens.. and it is required to renew at regular interval..
Shop and Establishment registration is also required..
If the company has achieved 20 employees, then it must register itself with PF and ESI departments.. and are required to comply with their rules also, like registration of new employees, challan submition, return submition,
and any other legal requirements related with these Acts..
Maintenance of Attendance register, salary register, Leave register and all..
Hope it must have given you some ideas regarding the same..
For more help take reference of any Labour Law book..
Statutory compliance is a vast subject especially dealing with almost every aspect of an organisation. As such, mere refering a book will not help in terms of compliance management. Similarly, the language used in the books is highly legal and sometime may not be understood in the right letter and spirit. As such, consult someone who is expert in that particular field of regulation for example income tax, sales tax, factories act, provident fund, esi, etc., etc. and so on. For a small scale factory, as per a general survey, as many as 72 acts are applicable. Hence, along with the reference to books, also be in touch with your local consultant.
Regards & wish you all the best
I want to take a registration certificate under The Punjab Shops and Commercial Establishmnet Act 1958. From some reliable sources I have come to know that in Punjab there is exemption for one year i.e. April, 2010 to March, 2011. Now should I apply for the same or not, further have I to intimate the department that I have started a business of C & F. if yes, pl suggest that on which form I have to intimate the department.Further suggest that if this action is late by 3 years have any penalty I have to pay.