Always receive ur stipend by cheque. It will be beneficial for u as well as your principal.
from urs principal point of view, if u deny that u have not recd. ur stipend then it will be easy for ur principal to prove that he has paid stipend thru cheque....
from urs point of view, if ur principal claims that u were not at work for say 3 months and shows excess leave ( assume that he has altered attendance register),, then it will b easy to prove that u were at work as u had recd. stipend for that period thru cheque
ICAI also prescribes for receiving stipend in cheque to avoid any future litigation...
so always receive ur stipend in Cash...........