Seniors, please tell me what the statutory day is for disbursing the salary of a company. Is there any statutory ceiling on salary in this regard? What is the rule for payment of salary/wages.
Vijayakrishnan
From India, Hyderabad
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Vijayakrishnan
From India, Hyderabad
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Dear Vijayakrishnan,
As per the Payment of Wages Act 1936, the due date of salary is within 7 days after the completion of the month if the number of employees is below 1000. If the number of employees is 1000 or above, payment should be made within 10 days. The ceiling of the salary as per the Payment of Wages Act w.e.f. 8.8.2007 is Rs. 10,000.
Abbas.P.S
From India, Bangalore
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530As per the Payment of Wages Act 1936, the due date of salary is within 7 days after the completion of the month if the number of employees is below 1000. If the number of employees is 1000 or above, payment should be made within 10 days. The ceiling of the salary as per the Payment of Wages Act w.e.f. 8.8.2007 is Rs. 10,000.
Abbas.P.S
From India, Bangalore
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