Definition:

The adherence to statutory laws and regulatory frameworks related to payroll processing, such as tax deductions, provident fund contributions, and professional tax filings.

Context & Importance:

Non-compliance can result in penalties, audits, and employee dissatisfaction.

Use Cases:

• PF/ESI returns
• Professional tax and TDS compliance

Related Concepts:

Statutory compliance, tax filing, audit

TankhaPay Relevance:

TankhaPay automates payroll compliance with reminders, filings, and digital challans.