Curlin_4,
I don't think the bank will allow a third party to withdraw money on behalf of another person, even if the same amount has already been credited. However, any excess amount can be recovered from the salary of the next month. What do you think?
Ashok
From India, New Delhi
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I don't think the bank will allow a third party to withdraw money on behalf of another person, even if the same amount has already been credited. However, any excess amount can be recovered from the salary of the next month. What do you think?
Ashok
From India, New Delhi
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Greetings Of The Day To All!!!!
Can a company deposit salary in an employee's account and then withdraw the same in a day or two?? Request you to please throw some light on this.
Can a company deposit in an employee's account then withdraw the same in a day or two? This is a matter of serious concern to those dealing in pay and compensation. In my opinion, once a salary is deposited in an employee's account, it could not be withdrawn by the company unless and until any authorization in this regard is duly given by the concerned employee.
R. N. Pandey (Vadodara)
From India, Vadodara
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Can a company deposit salary in an employee's account and then withdraw the same in a day or two?? Request you to please throw some light on this.
Can a company deposit in an employee's account then withdraw the same in a day or two? This is a matter of serious concern to those dealing in pay and compensation. In my opinion, once a salary is deposited in an employee's account, it could not be withdrawn by the company unless and until any authorization in this regard is duly given by the concerned employee.
R. N. Pandey (Vadodara)
From India, Vadodara
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Once the company deposits the money into employees account after that the organisation dont have the power to withdraw money from the account.
From India, Madras
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From India, Madras
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I have seen the reversal of transactions when a salary account gets credited with an excess amount. However, in all such cases, the provision for reversals is included in the joining papers of the employee. So individuals may first want to go through the documents that they might have hurriedly signed while boarding on their organizations.
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It can be done....i m having experience with 3 banks....as Corporate relationship Banker...there is a clause...bt the employee must have balance in his salary account...
From India
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From India
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Dear Peer,
If the variable amount is credited or debited by either the company or the bank, they can access your account for correction at any point in time.
For example, if your actual salary is 20000 but the credited amount is 22000, it means they will debit the excess amount that was credited due to a manual or technical mistake.
If the employee has made the account rupt, it means they will enter the amount as a negative value (-2000) in your account. When you receive your next month's salary or any deposit, the amount will be automatically debited from your account.
Regards,
Nelson S.
Chennai.
From India, Bangalore
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3If the variable amount is credited or debited by either the company or the bank, they can access your account for correction at any point in time.
For example, if your actual salary is 20000 but the credited amount is 22000, it means they will debit the excess amount that was credited due to a manual or technical mistake.
If the employee has made the account rupt, it means they will enter the amount as a negative value (-2000) in your account. When you receive your next month's salary or any deposit, the amount will be automatically debited from your account.
Regards,
Nelson S.
Chennai.
From India, Bangalore
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Dear Peer,
If the variable amount is credited or debited either by the company or the bank, they can access the account for correction at any point of time without giving notice to the employee.
For example, if your actual salary is 20000 but the credited amount is 22000, it means they will debit the excess amount which was credited by manual or technical mistake. If the employee has made the account corrupt, it means they will enter the amount as a negative value (-2000) in your account. At the point you receive the next month's salary or any deposit, the amount will be automatically debited from your account.
Therefore, it is the responsibility of the employee to check the salary account quite often to avoid these sorts of problems.
Regards,
Nelson S.
Chennai.
From India, Bangalore
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If the variable amount is credited or debited either by the company or the bank, they can access the account for correction at any point of time without giving notice to the employee.
For example, if your actual salary is 20000 but the credited amount is 22000, it means they will debit the excess amount which was credited by manual or technical mistake. If the employee has made the account corrupt, it means they will enter the amount as a negative value (-2000) in your account. At the point you receive the next month's salary or any deposit, the amount will be automatically debited from your account.
Therefore, it is the responsibility of the employee to check the salary account quite often to avoid these sorts of problems.
Regards,
Nelson S.
Chennai.
From India, Bangalore
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Dear without consent of account holder no body can oprate the other account only they can request for stop paymet before withdrawal of amount . Manu
From India
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From India
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absoultly right.....employer can witdrawan excess amout which is paid by mistcally with giving stisfactory reason to employees in this regards
From India, Mumbai
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From India, Mumbai
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As an HR practitioner, we encounter numerous HR issues that HR has to solve. In the case of the ongoing discussion about whether management could request the bank to credit an amount to the company, yes, it can, subject to being done via a letter of request by the authorized signatory of the company. It is normally done when it was wrongly credited, calculated, or the particular staff had absconded from employment. In fact, a lot of employees usually escape during the end of the month after salary is credited to their account. That's my experience.
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