Can a company in a particular financial year give advance salary for 7 months continuously ?
Can a company give 100% of the employee's salary as advances?
what is the standard rule to give advance salary for a company registered under mca?
Miss Riya (working) (27 Points)
14 March 2023Can a company in a particular financial year give advance salary for 7 months continuously ?
Can a company give 100% of the employee's salary as advances?
what is the standard rule to give advance salary for a company registered under mca?
CA Rakesh Ishi
(Working at Private Company)
(7770 Points)
Replied 15 March 2023
In general, there is no standard rule under the Ministry of Corporate Affairs (MCA) that governs the amount or frequency of advance salary payments that a company can make to its employees. However, there are certain guidelines and best practices that companies may follow to ensure that such payments are made in a fair and transparent manner.
Regarding the specific question of whether a company can give advance salary for 7 months continuously in a particular financial year and whether a company can give 100% of an employee's salary as advances, the answer would depend on the policies and practices of the company in question.
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