Labour Law Audit ensures a win-win situation to all the stakeholders. Enumerate the benefits of Labour Law Audit to various stakeholders.

Yes. Labour Law Audit definitely ensures a win-win situation to all the stakeholders. Its benefits are: It enhances the morale and social security of the employees It helps in maintaining the sense of belongingness between employers and employees It ensures timely payment of wages, remuneration and other statutory amount of the employees such as pension, gratuity, provident fund etc The positive outcome of the audit enhances the reputation of the employer in the industry Audit eliminates the penalties, damages, compensation that can be imposed by the government on the organization Labour Audit will ensure compliance of historical defaults committed by the organization under various labour laws It reduces the burden of the government because audit will be conducted by an independent professional It helps in preventing lockout, retrenchment, strikes etc. It ensures higher productive and lower absenteeism Co-operation and good understanding improves labour relations and this is indispensable for the good corporate governance.