The concept of compliance is to make sure that the company can obey the statutory laws responsibly. So, why it is important for an organization?
Every business starts with a profit imperative but the qualities of products and services delivered aren’t compromised for profits. To ensure such thing the government, regulatory bodies enacted statutory laws and acts for business entities.
Particularly in India, there are numerous corporate laws like Companies Act poses various obligations to be discharged by the companies, Directors and other officials. Non Compliance of such laws tends to severe punishments such as high penalties, imprisonment of directors, the closing of a business, etc.
To help companies comply with all the compliance laws and acts, Aparajitha Corporate Services offer compliance services. Aparajitha is a preferred choice by corporate houses which strongly believe in corporate governance. We also add credibility by ensuring confidentiality and protect our client’s sensitive data against any compliance, financial or reputation risks.
Let’s see some of the common advantages for an organization complying with compliance.
Not adhering to the compliance may depreciate the company values among the public and consumer community. To maintain company value and its consumer perception, the company should comply with all norms.
The external positive reputation and profitability begin with internal employee morale. Proper compliance builds positive employee morale.
Business reputation in a market
Trust is the most important factor contributing to business reputation. When a company starts facing legal issues, the public will lose their trust. So it is important to abide compliance to build a positive reputation in a market.
Attrition leads to slow or lower productivity which results in business loss or closure. Adhering to labour law compliance builds employee trust that leads to low attrition and higher productivity.
Consumer Trust is built over some time. It drives corporate profitability. Any non-compliance breaks the trust which was built over the years.
Hike in Share Values
While operating a global economy, one of the key variables to get a global project is Compliance. Global corporate gives importance to compliance in the event of projects merges FDI s in other businesses which in-turn increases company shares.
Suppose if any company fails to abide the corporate laws than it should face the legal cases. By complying compliance one can avoid these legal issues and run a smooth business.
In a nutshell, all corporates should comply with the compliance for comprehensive business growth. For this purpose, it is better to contact Aparajitha, India’s No.1 GRC framework Compliance Solution Provider to keep your organization’s compliance always well & healthy. We are Pan India service provider offers Compliances focusing on Labour Law Compliance, Industrial Licenses, Consultation/Audit, Establishment Compliance, Factory Compliance, Mines Compliance, Contract Labour Compliance, Flexi Staffing, Payroll and Payroll Processing Compliance.
For any legal queries, feel free to contact our knowledgeable team,
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