VENDOR COMPLIANCE MANAGEMENT
What is the service?
Employers now have the carefree advantage of handling their core activities all by themselves without getting distracted with non core activities which do indeed take a lot of their time and energy which can be passed on to secondary line of indirect employees deployed by the contractors on the premises of the principal employer. For this purpose, there is a legislation provided under the contract labour act , a statute which has been enacted to keep an eye on the employee related benefits of the indirect employees working as a part and parcel of the main stream channel in the precincts of the employer. This Act regulates the employment of contract labour in certain establishments and prohibits such employment in certain circumstances.
Under section 10 , the Government is empowered to prohibit employment of contract labour in any process, operation or other work in any establishment and it can be prohibited irrespective of the number of workmen , more or less than the specified number in any establishment or by a contractor. Since the Government has the powers to act under the provision of this Act, it cannot therefore refer the dispute to Industrial Tribunal.
The contract labour (regulation and abolition) Act is an important piece of social legislation and seeks to regulate the employment of contract labour or it can abolish the same. This being a piece of social legislation , for the welfare and benefits of the labourers, is well construed and maintainable by the vendor partners at all times who are entrusted with this non core work by the principal employer like house keeping, electrical and maintenance, supply of man power resources, gardening, security, bus and car services, transportation, cleaning and up keep of factory and office premises, and many more.
It is important to note that sections 16, 17, 18, and 19 of the act and the rules made thereunder cast obligations on an employer to provide certain amenities for ensuring the health and welfare of the contract labour. However, it has also been provided that any such amenity provided, the principal employer has the right to recover all the expenses incurred by him in providing such amenity, can either make deductions from the amount payable. Section 29 of the Act enjoins upon every principal employer and every contractor to maintain the registers and records giving prescribed particulars of contract labour employed , the nature of work performed , the rates of wages paid, and other particulars in the prescribed formats.
It is very much in this context that Karma Management Global Consulting Solutions Pvt Ltd. giant plays a significant and sensitive role in identifying and high lighting to the principal employer or clients about any shortcomings towards extending or depriving employee related benefits to indirect employees, on the part of the vendor partners or those seeking to take a short cut by circumventing the rules and regulations enacted by the authorities for this purpose.
How we do it and by using what tools?
As we all know, Regulatory compliance is a set of rules, such as a specification, policies or law which ensures an organization or a business house is following the standards set for the industry or institution by the respective authority. The rules which govern the organizations are usually set by government or parliamentary legislation or via government regulatory authorities for organizational, social, environmental and economic betterment. The norms and rules are related to various issues such as economic, public interest, and environmental.
Due to the increasing number of regulations and need for operational transparency, organizations are desirous to achieve in their effort to ensure that they are aware of and are taking measures to comply with relevant policies, laws and regulations. Since laws have been evolving, regulations have always been a dilemma for many as to how one go about this lawful obedience. There is a mix of opinion, Some saying regulations are downgrading the work of organizations and there should be a free and liberalized economy where as some economists and political thinkers say that regulatory compliance plays a vital role in promoting assessment of risk. However, since governments have formulated regulatory compliances, the organizations must cohere to the regulatory compliances and toe the line or else will have to face the consequences.
It is so overwhelming and refreshing to see that on these lines , Karma global Consulting giant in India has made a foray into the digital world by evolving a tool called WeChecked which is a valuable digital container holding together as a cohesive unit , all the regulatory compliances of the secondary service partners of the principal employer, where the artificial intelligence with the chatbot popping up as a support tool, keeps an hawk’s eye on the level of compliances adhered to by the vendor partners.
Karma’s consulting giant’s tool WeChecked has substantially gained the trust of stakeholders which includes investors as well as customers because the tool holds diligently the ability to sustain the compliances with efficiency and accountability of its deepest bid to maintain the evaluation standards.
The WeChecked tool in a way also offers tremendous assistance to the principal employer or to an industry in a full fledged diagnostic mode to check whether it is following proper regulatory compliances for itself or not. The Industries must toe the line with the Regulatory compliance or else they may have to face necessary interdictions by the appropriate authorities which can be both an embarrassment as also can lead to a fallout in the reputation or image.
What value does the client get?
TRich feedback from the industry has propelled Karma Management Global Consulting Solutions Pvt. Ltd. to reach out immensely to credible business houses beyond the shores of India , given the immense capability of the tool to encapsulate both establishment and service providers regulatory compliances with state of the art features, dashboards, crunching statistics, compliance cockpit, indepth insights, summarized capsules, etc.
Case Study
The happiest moments for Karma Management Global Consulting Solutions Pvt. Ltd. has been when just last month, the statistics were tabled , the WeChecked tool audited figures crossed the milestone of 4000 audits this August 2020 covering every nook and corner of the States and the union territories of India , by encapsulating compliance level of about 8500 service providers or better known as vendors , finally, as a consequence of this notable audit work, giving rise to about 25000 audited reports with the seal of compliance mark of Karma Management Global Consulting Solutions Pvt. Ltd.
