Monday, April 15, 2024

Know the List of Statutory Compliance for Your Country

Staying up to date on the list of statutory compliance for every country that your company is doing business in is vital. Being unaware of changes to the statutes affecting your business is rarely accepted as an excuse by any government. Compliance with new and existing statutes is generally the responsibility of your company’s HR department, as these statutes usually involve rules and issues relating to a company’s employees.

Social security, taxation, foreign worker’s status, and legal public holidays are some of the usual topics on every country’s list of monthly changes to statutes. Being unaware of these changes is generally not accepted as a valid excuse by government entities. Suffering the penalties incurred by non-compliance can affect your company’s business reputation as well as its finances, operations, and supply chain. 

It can also result in hardships for your employees. And a company that causes hardships and legal problems for its employees is a company that’s in danger of going out of business. 

Get Qualified Assistance

OS HRS is a company that specialises in providing outsourced HR solutions to local and multinational companies. For multinational companies with offices in various countries within the Asia region, there is an easy solution to the problem of keeping up with the monthly list of changes to the statutes in different countries. And one of the areas most valuable to both national and multinational companies is their team of global compliance experts.

By partnering with OS HRS, your company can trust that you’ll be notified and advised on any changes to tax codes affecting employees, social security rules and contributions, and foreign worker regulations. You’ll be notified by weekly emails sent directly to your inbox. And the compliance team at OS HRS is always available to answer any questions in detail about any of the changes. 

Receiving these emails ensures your company’s payroll is always up to date and in compliance with local statutes and regulations. It can eliminate the need for time-consuming and costly corrections and adjustments to payroll after the fact.  

Additional Suite of HR Services

HR is a multi-faceted, complex job for every multinational company these days. Besides their team of experts in global compliance, OS HRS also offers global payroll management solutions, HR advisory and analytics, and a full-scale enterprise employee application and payroll processing platform that’s customisable to your company’s global needs. 

There’s a need to keep a company’s HR and payroll services consistent and as streamlined as possible in every country. With the employee application and payroll platform for OS HRS, you’re provided with all the tools you need for maintaining transparency and cohesion within a global payroll framework. You can make changes across the board or effect changes that reflect compliance with changing statutes country-by-country. 

Find out more about the greater efficiency of partnering with OS HRS in helping your HR department meet the demands of global business.  

Sam Allcock
Sam Allcock
Sam heads up Cheshire-based PR Fire, an online platform that has already helped over 10,000 businesses to grab widespread media coverage on their news at an extremely accessible price point.

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