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What Are The Mandatory and Regulatory Compliance's For a Business?

Author: Neelam Vats and Associate Priya Singh To operate any business legally in the country, there are certain requirements which the company have to fulfill. These can be related to the business transaction, labor practices, and safety precautions. Before starting the company or business complete study of the regulation and requirement of the industry is done so that they can know about the essential compliance. The compliance is divided into two categories: 1. 2. The businesses have their own strict requirements. But in small businesses, the requirements are not the same as the large corporation. The purpose of internal compliance is to ensure that a business is running with integrity and is free from corruption and it is not doing any kind of another illegal element. These are the requirements which are sanctioned by the state and then anyone can run the business. The following are the mandatory compliances: The statutes which come under this are: • Maternity Benefits Act, 1961

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