Benefits Of Labour Audit

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Benefits Of Labour Audit

Introduction of Benefits Of Labour Audit will boost the morale of the workers to a large extent.

Benefits to the Labour

  • It will increase their Social Security.
  • It will secure timely payment of wages, gratuity, bonus, overtime, and compensation etc. of the workers.
  • Also, timely payment of entitlements will reduce absenteeism in the organisation.
  • Thus, it will inculcate on workers a sense of belongingness towards their employer.

Benefits Of Labour Audit

Benefits to Employer

  • Increased productivity in view of lower absenteeism in the enterprise. Higher the productivity, higher will be the profit.
  • Status in the Society for the employer will increase, in view of the recognition that may be bestowed on them by the Government.
  • Strict compliance of all labour legislation will be ensured by each of the employers, which, in turn, will reduce or even eliminate penalties/ damages/fines that may be imposed by the Government.
  • To improve the labour relations, co-operation of and understanding with the workers is a must. Therefore, the congenial atmosphere is indispensable for good corporate governance.

Benefits to the Government

  • Reduction in the number of field staff for inspection of Industries/Factories/ Commercial Establishments as most of their work will be done by an Independent Professional like Company Secretary in Whole Time Practice.
  • To ensure compliance with past defaults with Compulsory Labour Audit.
  • The revenue of the Appropriate Government will rise phenomenally. To introduce filing fees for Compliance Report under Labour Legislation, in case the Government seeks.
  • India’s image before the International Labour Organisation will improve as a country with negligible non-compliance of labour legislation.

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