Statutory compliance refers to an employer’s compliance with all applicable labor laws, such as those that govern minimum wage, overtime pay, child labor, and workplace safety.
Statutory compliance is important for employers for a number of reasons.First of all, it is a legal requirement.
Failure to comply with labor laws can result in fines, penalties, and even criminal charges.
Second, statutory compliancea safe and healthy workplace for employees. Third, statutory compliance costly lawsuits.
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By being aware of the key areas of statutory compliance and taking the necessary steps to ensure compliance, employers can help to protect their businesses and their employees.