Partly salary paid to Employees
This query is : Open
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
12 November 2017
Yes it's possible in a single day the payment should not exceed 10000.
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12 November 2017
Yes you can do so but in no case it exceeds Rs.10000/-
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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...!
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12 November 2017
Salary paid in two'parts in two days. Not prohibited.
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 .....
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 :
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13 November 2017
Yes, its possible, but u have to take care with other statutory compliance like EPF ,ESI.
13 November 2017
Yes... It's Possible...
But, Not Advisable except weekly...
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