1) Each organization has to comply with various statutory as well as internal compliances while performing their business related activities.
a) These are generally in the field of Taxation like income tax, Excise etc., Labor related like P.F., ESI, Factories Act etc., Legal matters, Company Law matters, and so on.
b) Each area of operation has multiple Acts and Regulations to comply to like filing of returns, payments etc..
c) These Acts and Regulations specify multiple tasks to be performed by the department and organization.
d) If you total up all these compliance requirements under various acts, regulations, and policies for these fields that the company has to adhere, there shall be roughly 500+ compliances for each company.
e) In addition, there are a huge number of internal compliances, either due to certain certifications, like ISO, CMM, etc. that an organization prefers. Or there are internal policies and management reporting system, which each department or the employees need to timely prepare and submit.
Compliance Mantra offers great value in tracking and monitoring all statutory and internal compliance related issues faced by an organisation. Through Compliance Mantra, you get the MIS , thus enabling you to have accurate and real-time status of every compliance.
It is a tool / system to manage all the compliances where director can rely & ensure on a click of button that all the compliances are timely complied on the basis of which he can sign the DIRECTOR RESPONSIBILITY STATEMENT without any fear.
Key Benefits to organisation
Avoid penalties & harassment altogether
Peace of mind for senior management
No last minute surprises, no unknown delay
Makes the compliances of organisation "Process Driven" rather than "Person Driven"
Uniform process; effective management of team at different locations