In my factory, salaries are paid through the bank for all employees. Except for workers, all categories of employees receive payslips through the Employee Self Service (ESS) portal. Currently, to issue a payslip to a worker, we take the worker's signature on the payslip counterfoil with a revenue stamp.
My query is, since workers are also paid through bank transfer, what is the necessity of taking a signature on the payslip counterfoil with a revenue stamp? Kindly advise on any recent updates regarding this particular topic or any recent amendments so that I can discontinue this existing practice and workers can also download their payslips through the ESS portal.
I seek this clarification with regards to Tamil Nadu state. Kindly advise.
Regards, Nagaraju Raghavendran
From India, New Delhi
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My query is, since workers are also paid through bank transfer, what is the necessity of taking a signature on the payslip counterfoil with a revenue stamp? Kindly advise on any recent updates regarding this particular topic or any recent amendments so that I can discontinue this existing practice and workers can also download their payslips through the ESS portal.
I seek this clarification with regards to Tamil Nadu state. Kindly advise.
Regards, Nagaraju Raghavendran
From India, New Delhi
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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
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320From India, Madras
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Dear Mr. Nagaraju,
The system of "Revenue Stamp" has been discontinued for a long time. You have not specified the value of the Revenue Stamp. From where are you buying the Revenue Stamp?
You have confirmed that the salary is credited electronically. Consequently, the signature of the employee on a copy of the payslip suffices.
From India, New Delhi
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The system of "Revenue Stamp" has been discontinued for a long time. You have not specified the value of the Revenue Stamp. From where are you buying the Revenue Stamp?
You have confirmed that the salary is credited electronically. Consequently, the signature of the employee on a copy of the payslip suffices.
From India, New Delhi
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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
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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
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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
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From India, New Delhi
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