Statutory compliance is a legal framework that each organization must adhere to. Statutory compliance management in India is mandatory for companies of all sizes. There are usually statutory compliances with respect to both payroll and accounting. In terms of payroll, there are clear mandates on PF deductions, EPF participation, Profession tax payments, TDS deductions to be made, Returns to be filed supported, etc. Each process has to be done within its respective deadlines and any non-adherence may result in penalties and fines. Every business wants to specialize in their growth and does not want to involve in managing litigations and disputes, especially when it involves regulatory bodies. In several organizationsthe in-house staff keeps track of several of those statutory compliance services, but they’ll not be equipped to be doing this on an everyday basis. Moreover regulations do change frequently and you may wish some expert advice on interpreting what this modification means to your company. Here are a number of the pertinent statutory compliances which require to be followed based on industry and segments.