Hi
Can any labour laws specialist help me know this ?
What is the number of days within which salary must be paid to employees after completion of a month ?
Now-a-days salary is deposited in bank account directly. Is there any ruling which says within 7 days or 10 days after completion of a month salary must be processed ? Please let me know what is the maximum staff strength limit to decide whether salary should be released in 7 days or 10 days.
Does it mean within 7 days the company must release salary or by the end of 7th day it must be realised in the hands of the employee(read bank account) ?
Sometimes company releases salary on 7th day but it actually reached in the employees' account on 10th day only, due to various reasons.
Please reply ASAP.
Generally my threads go with zero response but I hope this is going to get the required answer.:icon1:
Thanks in advance...
With warm regards
Geeta
From Korea, Seoul
13Can any labour laws specialist help me know this ?
What is the number of days within which salary must be paid to employees after completion of a month ?
Now-a-days salary is deposited in bank account directly. Is there any ruling which says within 7 days or 10 days after completion of a month salary must be processed ? Please let me know what is the maximum staff strength limit to decide whether salary should be released in 7 days or 10 days.
Does it mean within 7 days the company must release salary or by the end of 7th day it must be realised in the hands of the employee(read bank account) ?
Sometimes company releases salary on 7th day but it actually reached in the employees' account on 10th day only, due to various reasons.
Please reply ASAP.
Generally my threads go with zero response but I hope this is going to get the required answer.:icon1:
Thanks in advance...
With warm regards
Geeta
From Korea, Seoul
Dear
individual should be able to take out money from bank on 7 th.
i think it is now clear .
regards
j s malik
=YGeeta;794629]Thank you so much Mr.Malik.
Please clarify payment should be made(paid) by 7th of next month means the payment is to be released by company by the end of 7th day or it should be realised in employee account by 7th day ?
Warm Regards
Geeta[/QUOTE]
From India, Delhi
individual should be able to take out money from bank on 7 th.
i think it is now clear .
regards
j s malik
=YGeeta;794629]Thank you so much Mr.Malik.
Please clarify payment should be made(paid) by 7th of next month means the payment is to be released by company by the end of 7th day or it should be realised in employee account by 7th day ?
Warm Regards
Geeta[/QUOTE]
From India, Delhi
Dear Mr Malik,
It would be useful to know; whether there is any legal implication if the employer does not pay the salary by the 7h of the month and also holds back salary of previous months stating lack of funds.
Kumar
From India, Hyderabad
It would be useful to know; whether there is any legal implication if the employer does not pay the salary by the 7h of the month and also holds back salary of previous months stating lack of funds.
Kumar
From India, Hyderabad
Dear Mr. Kumar
If the employer cannot pay the salary within the specified period for whatever reason he must apply to the Inspector of factories , asking permission from the same , to quote the act " the occurrence of an emergency or the existence of exceptional circumstances, such that the person responsible for the payment of the wages was unable, though exercising reasonable diligence, to make prompt payment" , then action will not be taken against the employer or else he is punishable with a fine and imprisonment or with both .
Whoever contravenes the provisions of section 5,shall be punished with a fine of minimum two hundred rupees but which may extend to one thousand rupees, if the offence is for the first time .
For a repeated offence , the punishment is imprisonment for a term minimum one month but which may extend to six months and with fine minimum five hundred rupees but which may extend to three thousand rupees.
Section 5 deals with "Time of payment of wages"
Kirti
From India, Bangalore
If the employer cannot pay the salary within the specified period for whatever reason he must apply to the Inspector of factories , asking permission from the same , to quote the act " the occurrence of an emergency or the existence of exceptional circumstances, such that the person responsible for the payment of the wages was unable, though exercising reasonable diligence, to make prompt payment" , then action will not be taken against the employer or else he is punishable with a fine and imprisonment or with both .
Whoever contravenes the provisions of section 5,shall be punished with a fine of minimum two hundred rupees but which may extend to one thousand rupees, if the offence is for the first time .
For a repeated offence , the punishment is imprisonment for a term minimum one month but which may extend to six months and with fine minimum five hundred rupees but which may extend to three thousand rupees.
Section 5 deals with "Time of payment of wages"
Kirti
From India, Bangalore
If U have an employee strength of over 1000 and your company is paying over bank then u have to ensure that the worker will get it before the end of 10th day after competition of the month i.e their account should be credited by the bank.... same for employees less thn 1000 time limit is 7days...... If u r unable to do this u need to display a notice mentioning the reason for the delay in payment....
Thanks,
Koushik
From India, Calcutta
Thanks,
Koushik
From India, Calcutta
Dear all, i think Mr. malik has cleared all the matter , if u have any more clerificatin u must read sec.5 & 6 of PAYMENT OF WAGES ACT 1936. tHANX & REGARDS MANU
From India
From India
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Salary-Note.doc
SALARY SHEET CALCULATION.xls