Statutory compliance in payroll refers to adhering to legal regulations and obligations related to employee compensation. It encompasses aspects such as minimum wage, tax deductions, social security contributions, and labor laws. Ensuring statutory compliance is crucial for avoiding legal penalties and maintaining a fair and transparent payroll process. It requires accurate record-keeping, timely filings, and staying updated with changing regulations to guarantee that employees are compensated correctly and the organization remains compliant with the law. #payroll #statutorycompliance #esi #pf #labour