Boss2966
Industrial Relations
Mahr
Head - Human Resources
Couvery
Consultant
Pranali
Manager Hr
+2 Others

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If i need to create salary accounts to my staffs in ICICI bank , should i (employer) also have an account with them?
First of all you give the complete details. Then you ask your query.
What is your industry and business involved?
How many employees you have?
What will be the salary band?
In which bank you have the account as an employer?
Why did you not tried with your existing bank?
If you answer these questions, our members will give you correct reply.
In general you can open the salary account for all your employees in ICICI Bank. If you contact the nearest ICICI Branch, surely a representative will approach you and help you in opening the accounts for all the employees. You can transfer the salary fund either from your existing bank or you can open a current account from which the salary can be transferred to the employees salary account.
Please speak to the ICICI Bank representative in this regard and proceed.

What is your industry and business involved? - Software
How many employees you have? - 3
What will be the salary band? - 18k-22k/Month
In which bank you have the account as an employer? - canara bank
Why did you not tried with your existing bank? - not happy with existing bank

Well, you need to approach to the nearest ICICI bank branch or call the representative and consult with them.
Instead of opening account only for 3 members, you can issue a cheque to each employee every month so that they can deposit in their own existing bank account and encash. If the strength is more than 10, then you can approach the bank for any needy help.
Dear Member :
To best of my knowledge banks' has condition for minimum number of employee require for opening salary account.
It differs from bank to bank, so first check with bank if your company is eligible. If yes, then you will require to have account in that bank.
More details can be provided by bank staff.
Regards,
Pranali G

Yes you need to have your A/C with ICICI to have salary A/C for your employees. Do also check with Canara Bank they have online transfer for Salary A/C, we are using the same facility and it is working fine.
Sarfaraz
Manager HR
Vardhman Pharma
Bangalore
9916902503

Hi Mydreamw,
You don't need to have an account with ICICI or any bank to have an salary account. However the are few eligible criteria (ICICI) which the company has to have. They are,
1. The organization/company needs to have a minimum of 20 employees employed within.
2. The total annual payout for the employees should not be less than 36,00,000/- INR.
3. 15,000/- INR should be the average salary, paid every year.
Also please be advised that you don't need a introducer/introduction to open a salary account.
In your case, I don't think so you would be able to open a salary account with any bank, until your employee strength becomes 20. As our fellow member Bhaskar said you shall pay them through cheque, which is as well accounted and would be useful in Du-delligence/Audit.

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