Partly salary paid to Employees

This query is : Open

Rakesh Sharma (Querist)
Follow

12 November 2017 Dear Experts, Some of employees in our company are taking salary about 15000 to 17000 per month and they do not want to take salary in Bank and want to take in cash only. Sir, is it possible to give salary to those employees in 2 parts between 1-7 of following month i.e. 7000 in ist part and remaining in 2nd part. Please advise. Regards, Rakesh Sharma

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

12 November 2017 Yes it's possible in a single day the payment should not exceed 10000.

Message likes : 1 times

Parv Kumar

Parv Kumar (Expert)
Follow

12 November 2017 Yes you can do so but in no case it exceeds Rs.10000/-

Message likes : 1 times

RAJA P M

RAJA P M (Expert)
Follow

12 November 2017 Dear Mr CA SEETHARAMAN Sir., How is it possible Sir... It's monthly salary then ll be pay in a day... Otherwise it's so weekly basis ll be consider....! Please correct me if I am wrong...!

Message likes : 1 times

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

12 November 2017 Salary paid in two'parts in two days. Not prohibited.

Aditya Agrawal

Aditya Agrawal (Expert)
Follow

13 November 2017 Rakesh Sharma
Salary of a months can be paid in any number of installments. Even if you pay it in 2 installments i.e. by breaking it to below 10000 in a day to a person (to comply with IT provisions) then also it won’t create any issues. I think you are thinking that it will be considered as weekly salary. But let me tell you 2 things (1) It will still be considered monthly salary. (2) Even if it is considered as weekly salary, that does not make a difference because there exist no extra compliances for paying weekly salary.
Hope this helps .....

Message likes : 1 times

Swathi

Swathi (Expert)
Follow

13 November 2017 Yes, its possible, but u have to take care with other statutory compliance like EPF ,ESI.

RAJA P M

RAJA P M (Expert)
Follow

13 November 2017 Yes... It's Possible... But, Not Advisable except weekly...

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

shreesh acharya

Vishal Dave

Vijay Mishra

Dalbir Singh Wadhera

Dhananjay Singh

Subscribe Now

Partly salary paid to Employees

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

Senior Executive

Accountant

GST CONSULTANT

CA Final

Manager- Finance and Compliance