The main object of the first is to register, regulate and protect the rights of employees. Statutory compliance relates to the various labour and taxation laws prevalent in India and it is mandatory for companies to obey them. Non-compliance with these regulations can land a company into legal trouble such as penalties, fines, or worse. This is why companies spend a good deal of resources for ensuring statutory compliance. Compliance with labour laws must not be viewed as merely a task to satisfy legal obligations, it offers significant benefits in terms of improving trust between employers and their employees.