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Rithika Halakatti posted an update
Navigating the compliance landscape of Earned Wage Access (EWA) in India requires a careful balance between innovation and regulatory adherence. As this emerging benefit gains popularity, organizations must ensure:
◾ Alignment with labor laws such as the Payment of Wages Act
◾ Strong data protection and privacy protocols
◾ Clear communication with employees, alongside obtaining their consent
◾ Comprehensive documentation and record-keeping practices
◾ Regular security audits and compliance checksEWA has the potential to transform employee financial wellness, but its implementation must be handled thoughtfully, with attention to both legal and ethical responsibilities.
For those interested in learning more about the key compliance considerations for offering Earned Wage Access in India, an in-depth article is available. It explores the relevant regulatory frameworks, data protection strategies, and best practices essential for ensuring a successful implementation.
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Ensuring Compliance and Security in Earned Wage Access Implementation
Learn key strategies for ensuring compliance and security in Earned Wage Access (EWA), including regulatory requirements, data protection, and employee safety.