In business, compliance refers to abiding by all local, state, and federal laws that control your operations. When it comes to employment, this can entail paying workers fairly, filing taxes on time, providing the necessary benefits, using ethical hiring procedures, and maintaining accurate records.
A company is defined as "a company formed and registered under this Act or an existing company" under the Companies Act of 1994. Therefore, a group of persons who gather together to achieve a common goal can incorporate a corporation under the Companies Act of 1994.