In my factory salary is paid through bank for all the employees. Except workers all the category of employees are receiving payslips through Employee Self Service (ESS) portal. Currently to issue a payslip to worker, we are taking worker signature in payslip counter foil with revenue stamp.
Here my query is since workers also paid through bank transfer, what is the necessary of taking signature in payslip counter foil with revenue stamp.
Kindly advise any recent updates regarding this particular topic or any recent amendments so i can drop this existing practice and workers also can download their payslips through ESS portal.
I want this clarification with regards to tamilnadu state.
Kindly advise
Regards:
Nagaraju Raghavendran
From India, New Delhi
Here my query is since workers also paid through bank transfer, what is the necessary of taking signature in payslip counter foil with revenue stamp.
Kindly advise any recent updates regarding this particular topic or any recent amendments so i can drop this existing practice and workers also can download their payslips through ESS portal.
I want this clarification with regards to tamilnadu state.
Kindly advise
Regards:
Nagaraju Raghavendran
From India, New Delhi
As per the Payment of Wages Act, if the salary / wages are paid through bank transfer, then no requirement of ack on revenue stamp.
From India, Madras
294From India, Madras
Dear Mr Nagaraju, The system of "Revenue Stamp" is dispensed since a long time.you have not specified the value of Revenue Stamp? from where are you buying Revenue Stamp?
You have confirmed that Salary is credited Electronically.Consequently signature of Employee on Copy of Pay Slip suffices
From India, New Delhi
You have confirmed that Salary is credited Electronically.Consequently signature of Employee on Copy of Pay Slip suffices
From India, New Delhi
Electronic transfer of funds/pay to bank a/c as given by employee is good enough.Every employee should be asked to give his choice bank a/c,cancelled cheque leaf for transfer of salary.
No separate signature over revenue stamp is required.
The Payment of Wages (Amendment) Bill, 2016
The Payment of Wages (Amendment) Bill, 2016 was introduced in Lok Sabha on December 15, 2016 by the Minister of Labour and Employment, Mr. Bandaru Dattatreya. The Bill amends the Payment of Wages Act, 1936.
Method of payment of wages: Under the 1936 Act, all wages must be paid either in coin or currency notes, or both. However, the employer may pay his employee’s wages either by cheque or by crediting it into his bank account, after obtaining his written authorisation.
The Bill amends the 1936 Act to permit the employer to pay an employee’s wages: (i) in coin or currency notes; or (ii) by cheque; or (iii) by crediting them into his bank account. The Bill removes the requirement of obtaining written authorization for payment of wages by cheque or through a bank account.
From India, Pune
No separate signature over revenue stamp is required.
The Payment of Wages (Amendment) Bill, 2016
The Payment of Wages (Amendment) Bill, 2016 was introduced in Lok Sabha on December 15, 2016 by the Minister of Labour and Employment, Mr. Bandaru Dattatreya. The Bill amends the Payment of Wages Act, 1936.
Method of payment of wages: Under the 1936 Act, all wages must be paid either in coin or currency notes, or both. However, the employer may pay his employee’s wages either by cheque or by crediting it into his bank account, after obtaining his written authorisation.
The Bill amends the 1936 Act to permit the employer to pay an employee’s wages: (i) in coin or currency notes; or (ii) by cheque; or (iii) by crediting them into his bank account. The Bill removes the requirement of obtaining written authorization for payment of wages by cheque or through a bank account.
From India, Pune
Thanks Mr. Babu, Srinath & Nathrao for your time and your inputs are appreciated. Mr. Srinath it is one rupee revenue stamp.
From India, New Delhi
From India, New Delhi
Dear Mr Nagaraju, From whom you are buying these Revenue Stamps.As per my Knowledge Only Postal Stamps are there.please stop this practice forthwith & inform others.Money Paid towards Revenue Stamp is going to Private Persons illegally
From India, New Delhi
From India, New Delhi
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Online payment of PF mandatory from 1.1.2016.pdf