Regulatory Benefits Audit Why–What–How
- Mitigating Compliance Risk
- Mitigating Financial Risk
- Mitigating Reputation Risk
- Employee Provident fund under EPF and Miscellaneous Provisions Act, 1952
- Gratuity under Payments of Gratuity Act 1972
- Leaves as per Shops and Establishment Act
- Payment of Bonus under payment of Bonus (Amendment ) Act , 2015
- Employee Insurance under Employees' State Insurance Act, 1948 and The Workmen’s Compensation Act, 1923
- Employee Agreements including contractual and fixed term employees
- Actuarial Valuation Reports
- Trust Documents and Governance
- Any other relevant areas – Maternity Benefit (Amendment ) Act 2017, Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 ,Handbook Review etc
- Gather Data – Gather benefits inventory and data
- Review – Review Policies, Calculations, Coverage and Documentation
- Identify – Identify areas of Non-compliance and those having potential for financial risk
- Recommend – Action Plan to mitigate risk
With rising employee benefits costs and falling employee perception
on benefits, more and more Employers are reviewing their Employee
Benefits. It becomes increasingly important for employers to design
benefit plans in a manner that they meet the needs and preferences
of diverse Employee profiles while keeping in mind constraints of
tight benefits budgets.
To support Employers in this Quest we offer:-
- Designing New Employee Benefits/Redesigning Existing Benefits
- Benefits Cost Review
- Benefits Utilization Review
- Employee Benefits Perception Surveys