Regarding Salary Advance
This query is : Resolved
31 July 2010
Dear Sirs/ Madam,
Please kindly let me know what are the legal documents to be made for a salary advance made for Rs. 2,00,000/-
Please kindly let me know what are the legal documents to be made for a salary advance made for Rs. 2,00,000/-
O.D.SHARMA
(Expert)
31 July 2010
Dear Bosco,
This depends on employee & company.Employer can see the length of service,Purpose & salary.how the employee will get that amount repay.If this is a car or any such item,Employer can by in company name.Please clear the question .
This depends on employee & company.Employer can see the length of service,Purpose & salary.how the employee will get that amount repay.If this is a car or any such item,Employer can by in company name.Please clear the question .
CA Kapil B Gupta
(Expert)
31 July 2010
TDS will be deducted accordingly on advance salary, however your query is not quite clear.
31 July 2010
It depends. To what kind of employee the advance is extended.
Even if a well documented with complete details, advance salary receipt is being signed by the employee, its sufficient.
Though you can always have a legal agreement on the stamp paper with all the clauses including the timing & mode of repayment.
You can further go ahead to get this agreement registered in a court.
Even if a well documented with complete details, advance salary receipt is being signed by the employee, its sufficient.
Though you can always have a legal agreement on the stamp paper with all the clauses including the timing & mode of repayment.
You can further go ahead to get this agreement registered in a court.
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