Blog
TalentPro’s Human Resources blog is a knowledge portal where we discuss the latest and best practices related to the Human Resources Industry. The portal educates the reader in various areas of interest such as Payroll, Compliances, Staffing, Human Resource Management Services (HRMS), Recruiting, etc.
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Effective Statutory Compliance Strategies for HR in the Manufacturing Sector
The manufacturing industry in India is an integral part of its economy. According to the World Bank’s statistics, manufacturing was responsible for 13.72% of India’s GDP in 2019. Given that manufacturing is responsible for a substantial chunk of India’s GDP,…
Is Technology Making Statutory Compliance Better or Worse?
The landscape of business is undergoing a rapid transformation. The current global situation has also been responsible for quick changes in the way organizations do business. Organizations have quickly adapted to newer technologies that can help various aspects of their…
7 Reasons You Can’t Ignore Compliance
Statutory compliance refers to the process where companies adhere to a set of requisite laws and regulations by the regulatory body or entity. Compliance is monitored either by a governmental agency or an independent concern within a particular sector. These…
HR Compliance for SMEs During the Pandemic
The CoVID-19 crisis has thrown businesses into disarray. Given that different locations have different regulations, HR managers have faced many challenges, including compliance. One of the ways HR managers have managed to deal with compliance-related issues is using HR compliance…
Income Tax Slabs 2020-India
Income Tax Slabs 2020 India Let’s take a quick brush-up of the Income Tax Slabs 2020 in India & explore how the income tax slabs, surcharges, and deduction limits have changed over the past nine years.
Preparing the Workforce for the End of the Financial Year
The financial year is a standard one-year time period during which business is conducted. Organizations will have to submit balance sheets and income statements and other financial records to the government of India. The date with which the financial year…
How Statutory Compliance can Contribute to an Exponential Growth of the Business
It goes without saying that employees and people are what drive organizations forward. The growth and performance of an organization is entirely dependent on the performance and well-being of its employees. The CoVID-19 pandemic, however, disrupted businesses and the way employees are taken care of. This highlights the importance of statutory compliance in the workplace. Statutory Compliance Checklist Statutory compliance refers to the practice of an organization’s compliance of rules or…
5 Essential Qualities of Effective Compliance Officers
Compliance is both a necessary and grueling process that organizations have to continuously maintain and follow. Compliance can be both time and effort intensive when done in house. Because of this, most organizations prefer to outsource this process to compliance services. Third party concerns called compliance services take over and oversee all compliance related activities in an organization. These concerns ensure that organizations stay complaint to a set of regulations…
How Payroll Outsourcing Can Help Your Organization Stay Compliant and Ethical
Processing an organization’s payroll is a time consuming and tedious task. It can potentially take away resources and efforts of an organization that could be directed elsewhere towards its growth. According to Tholons Top 50 Digital Nations and A. T. Kearney Global Services Location Index of 2019, India is still the best nation to outsource. Payroll outsourcing services in India are still in great demand globally. Payroll Tasks The payroll…
What needs to be known about Compliance in 2021
Every year is a year different, and 2021 is no different from the previous year when we talk of changes in HR. Compliance will see some significant changes in 2021 in terms of its implementation in the coming year. Statutory Compliance in HR is a strategic subject matter that is crucial for the successful running of a business. To be precise and honest enough, corporate governance’s quality depends upon the successful…
Key Benefits of Payroll Compliance
Payroll is a very vital component of any business organization. To run a business successfully, it is necessary to ensure total payroll & tax compliance, the lack of which may draw a penalty from legal authorities. It should be remembered that today’s business environment requires a very good form of corporate governance for the organization to succeed in its mission. The payroll department plays a vital role in protecting the company’s reputation by…
Implementing Statutory Compliance with 5 Simple Steps
Any organization is only as good as the synergy between its employees and the higher-ups. For this synergy to deliver on effectiveness, two crucial elements are necessary: corporate governance and compliance. Corporate Governance Corporate Governance implies to a system of rules, practices, and processes that a firm uses to direct and control its efforts. This encompasses almost every tier of management. It includes aspects such as action plans and internal controls to performance…
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