What Is the Difference Between Statutory Compliance and Regulatory Compliance?

Statutory compliance in HR follows government-mandated laws, while regulatory compliance adheres to industry-specific rules set by professional or governing bodies.

How Often Should a Company Review Its Statutory Compliance Status?

Companies should review statutory compliance quarterly or biannually to ensure adherence to new laws & regulatory updates.

Can Statutory Compliance Be Automated?

Yes, compliance automation tools streamline tracking, documentation, and reporting, reducing manual errors and ensuring timely statutory filings.

What Are the Consequences of Failing Statutory Compliance in India?

Non-compliance with statutory regulations leads to heavy fines, penalties, reputational loss, legal action, and in severe cases, suspension of business operations.

Does Statutory Compliance Differ From State to State in India?

Yes, statutory compliance differs across states due to region-specific labour laws, taxation rules, & local government regulations.

How Can an Organization Build a Culture of Compliance?

Organizations can foster a compliance culture via leadership commitment, continuous employee training, transparent communication, and regular internal audits.