Corporate Compliance

Statutory Compliance

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At Prime Source Worldwide, we are unwavering in our commitment to adhere to all statutory and regulatory requirements as mandated by applicable laws. Our focus on compliance ensures that our operations align with the legal frameworks governing social security, health, welfare, and labor laws. The following acts and regulations are essential to our compliance structure:

  • Maternity Benefit Act 1961
  • Payment of Bonus Act, 1965
  • Equal Remuneration Act, 1976
  • Minimum Wages Act, 1948
  • Employees’ State Insurance Act, 1948
  • Employees' Provident Funds and Miscellaneous Provisions Act, 1952
  • Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013
  • Labour Welfare Fund Act of the respective state jurisdictions
  • Contract Labour (Regulation and Abolition) Act of the respective state jurisdictions
  • Workmen Compensation Act, 1923

Compliance Framework

Commitment to Legal Compliance : Prime Source Worldwide is fully dedicated to complying with all relevant local, state, national, and international laws. Our compliance framework is crafted to identify, comprehend, and meet all statutory obligations impacting our business operations.

Employment Laws : We adhere to labor laws, covering minimum wage, working hours, overtime, and employment conditions. We ensure compliance with regulations related to anti-discrimination, workplace safety, and employee rights.

Corporate Governance : We comply with corporate laws regarding company formation, reporting, and governance. We ensure the timely filing of annual reports, financial statements, and other mandatory disclosures.

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Monitoring and Auditing

Internal Audits : We conduct regular internal audits to evaluate compliance with statutory requirements and identify areas for enhancement. We document audit findings and implement corrective actions to address any non-compliance.

External Audits : We engage independent external auditors to review our compliance with statutory requirements, ensuring transparency and accountability through third-party verification.

Compliance Reporting : We regularly report to the Board of Directors and senior management on compliance status and significant issues, maintaining accurate and up-to-date records of all compliance activities and reports.

Clients we Serve

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